First Horizon (FHN) 10-K 1 Mar 22 2021 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2021	Jan. 31, 2022	Jun. 30, 2021
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-15185
Entity Registrant Name	FIRST HORIZON CORP
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			$ 9.4
Entity Common Stock, Shares Outstanding (in shares)		533,633,668
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 26, 2022: Part III of this Report
Auditor Name	KPMG LLP
Auditor Location	Memphis, TN
Auditor Firm ID	185
Entity Central Index Key	0000036966
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
$.625 Par Value Common Capital Stock
Entity Information [Line Items]
Title of 12(b) Security	$.625 Par Value Common Capital Stock
Trading Symbol	FHN
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/400th interest in a share of Non-Cumulative Perpetual Preferred Stock, 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
Depositary Shares, each representing a 1/400th interest in a share of Non-Cumulative Perpetual Preferred Stock, 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
Depositary Shares, each representing a 1/400th interest in a share of Non-Cumulative Perpetual Preferred Stock, 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
Depositary Shares, each representing a 1/4,000th interest in a share of Non-Cumulative Perpetual Preferred Stock, 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
Depositary Shares, each representing a 1/4,000th interest in a share of Non-Cumulative Perpetual Preferred Stock, Series F
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 F
Trading Symbol	FHN PR F
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and due from banks	$ 1,147	$ 1,203
Interest-bearing deposits with banks	14,907	8,351
Federal funds sold and securities purchased under agreements to resell	641	445
Trading securities	1,601	1,176
Securities available for sale at fair value	8,707	8,047
Securities held to maturity (fair value of $705 and $10, respectively)	712	10
Loans held for sale (including $258 and $405 at fair value, respectively)	1,172	1,022
Loans and leases (including $— and $16 at fair value, respectively)	54,859	58,232
Allowance for loan and lease losses	(670)	(963)
Net loans and leases	54,189	57,269
Premises and equipment	665	759
Goodwill	1,511	1,511
Other intangible assets	298	354
Other assets	3,542	4,062
Total assets	89,092	84,209
Liabilities
Noninterest-bearing deposits	27,883	22,173
Interest-bearing deposits	47,012	47,809
Total deposits	74,895	69,982
Trading liabilities	426	353
Short-term borrowings	2,124	2,198
Term borrowings	1,590	1,670
Other liabilities	1,563	1,699
Total liabilities	80,598	75,902
Equity
Preferred stock, Non-cumulative perpetual, no par value; authorized 5,000,000 shares; issued 26,750 and 26,250 shares, respectively	520	470
Common stock, $0.625 par value; authorized 700,000,000 shares; issued 533,576,766 and 555,030,652 shares, respectively	333	347
Capital surplus	4,743	5,074
Retained earnings	2,891	2,261
Accumulated other comprehensive loss, net	(288)	(140)
FHN shareholders' equity	8,199	8,012
Noncontrolling interest	295	295
Total equity	8,494	8,307
Total liabilities and equity	$ 89,092	$ 84,209

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Fair Value	$ 705	$ 10
Loans held-for-sale, at fair value	258	405
Loans and leases, at fair value	$ 0	$ 16
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	26,750	26,250
Common stock, par value (in dollars per share)	$ 0.625	$ 0.625
Common stock, shares authorized (in shares)	700,000,000
Common stock, shares issued (in shares)	533,576,766	555,030,652

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Interest income
Interest and fees on loans and leases	$ 1,957	$ 1,722	$ 1,394
Interest and fees on loans held for sale	33	30	31
Interest on investment securities	121	105	121
Interest on trading securities	30	35	47
Interest on other earning assets	17	6	31
Total interest income	2,158	1,898	1,624
Interest expense:
Interest on deposits	81	152	307
Interest on trading liabilities	6	6	13
Interest on short-term borrowings	5	14	41
Interest on term borrowings	72	64	53
Total interest expense	164	236	414
Net interest income	1,994	1,662	1,210
Provision for credit losses	(310)	503	45
Net interest income after provision for credit losses	2,304	1,159	1,165
Noninterest income
Fixed income	406	423	279
Deposit transactions and cash management	175	148	132
Mortgage banking and title income	154	129	10
Brokerage, management fees and commissions	88	66	55
Card and digital banking fees	78	60	49
Trust services and investment management	51	39	30
Other service charges and fees	44	26	21
Purchase accounting gain	(1)	533	0
Other income	68	74	78
Total noninterest income	1,076	1,492	654
Noninterest expense
Personnel expense	1,210	1,033	695
Net occupancy expense	137	116	80
Computer software	116	85	61
Operations services	80	56	46
Legal and professional fees	68	84	72
Contract employment and outsourcing	67	24	13
Amortization of intangible assets	56	40	25
Equipment expense	47	42	34
Communications and delivery	37	31	25
Advertising and public relations	37	18	34
Impairment of long-lived assets	34	7	23
Contributions	14	41	11
Other expense	193	141	114
Total noninterest expense	2,096	1,718	1,233
Income before income taxes	1,284	933	586
Income tax expense	274	76	134
Net income (loss)	1,010	857	452
Net income attributable to noncontrolling interest	11	12	11
Net income attributable to controlling interest	999	845	441
Preferred stock dividends	37	23	6
Net income available to common shareholders	$ 962	$ 822	$ 435
Basic earnings per share (in dollars per share)	$ 1.76	$ 1.90	$ 1.39
Diluted earnings per share (in dollars per share)	$ 1.74	$ 1.89	$ 1.38
Weighted average common shares (in shares)	546,354	432,125	313,637
Diluted average common shares (in shares)	551,241	433,717	315,657

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statements of Comprehensive Income/(loss)
Net income	$ 1,010	$ 857	$ 452
Other comprehensive income (loss), net of tax:
Net unrealized gains (losses) on securities available for sale	(144)	77	107
Net unrealized gains (losses) on cash flow hedges	(10)	9	15
Net unrealized gains (losses) on pension and other postretirement plans	6	13	15
Other comprehensive income (loss)	(148)	99	137
Comprehensive income (loss)	862	956	589
Comprehensive income attributable to noncontrolling interest	11	12	11
Comprehensive income attributable to controlling interest	851	944	578
Income tax expense (benefit) of items included in other comprehensive income:
Net unrealized gains (losses) on securities available for sale	(46)	25	35
Net unrealized gains (losses) on cash flow hedges	(3)	3	5
Net unrealized gains (losses) on pension and other postretirement plans	$ 2	$ 3	$ 5

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)		Accumulated Other Comprehensive Income (Loss)Adjusted Balance	[1]	Noncontrolling Interest	Noncontrolling InterestAdjusted Balance
Beginning balance (in shares) at Dec. 31, 2018					1,000	1,000	318,573	318,573
Beginning balance at Dec. 31, 2018		$ 4,786	$ (1)	$ 4,785	$ 96	$ 96	$ 200	$ 200	$ 3,029	$ 3,029	$ 1,542	$ (1)	$ 1,541	$ (376)	[1]	$ (376)		$ 295	$ 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		452									441							11
Other comprehensive income (loss)		137												137	[1]
Comprehensive income (loss)		589									441			137	[1]			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)	[1]	$ (239)		295	$ 295
Common stock issued for:
Accounting Standards Update [Extensible List]		Accounting Standards Update 2016-13 [Member]
Net income		$ 857									845							12
Other comprehensive income (loss)		99												99	[1]
Comprehensive income (loss)		956			$ 0						845			99	[1]			12
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)
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)	[1]			295
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		1,010									999							11
Other comprehensive income (loss)		(148)												(148)	[1]
Comprehensive income (loss)		862									999			(148)	[1]			11
Cash dividends declared:
Preferred stock		(32)									(32)
Preferred stock		(37)
Common stock		(332)									(332)
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)		145			$ 145
Call of preferred stock (in shares)					(1,000)
Call of preferred stock		(100)			$ (95)						(5)			(5)
Common stock repurchased (in shares)							(25,063)
Common stock repurchased		(416)					$ (16)		(400)
Common stock issued for:
Stock options and restricted stock - equity awards (in shares)							3,609
Stock options and restricted stock - equity awards		28					$ 2		26
Stock-based compensation expense		43							43
Dividends declared - noncontrolling interest of subsidiary preferred stock		(11)																(11)
Ending balance (in shares) at Dec. 31, 2021					26,750		533,577
Ending balance at Dec. 31, 2021		$ 8,494			$ 520		$ 333		$ 4,743		$ 2,891			$ (288)	[1]			$ 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]	2021, 2020, and 2019 include $401 million, $4 million, and $130 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, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity, Class of Treasury Stock [Line Items]
Common stock - cash dividends declared per share (in dollars per share)	$ 0.60	$ 0.60	$ 0.56
Preferred Stock
Equity, Class of Treasury Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	1,500	1,500
Sale of stock (in dollars per share)	$ 100,000	$ 100,000
First Horizon Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Common stock repurchased under share repurchase programs	$ 401	$ 4	$ 130

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Activities
Net income	$ 1,010	$ 857	$ 452
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for credit losses	(310)	503	45
Deferred income tax expense (benefit)	0	(18)	14
Depreciation and amortization of premises and equipment	61	52	44
Amortization of intangible assets	56	40	25
Net other amortization and accretion	(67)	(30)	(3)
Net (increase) decrease in trading securities	1,824	1,912	1,423
Net (increase) decrease in derivatives	412	(223)	(134)
Purchase accounting gain	1	(533)	0
Stock-based compensation expense	43	32	22
Securities (gains) losses, net	(13)	6	0
Loss on debt extinguishment	26	0	0
Net (gains) losses on sale/disposal of fixed assets	29	8	22
(Gain) loss on BOLI	(8)	(5)	(5)
Loans held for sale:
Purchases and originations	(6,644)	(4,710)	(2,075)
Gross proceeds from settlements and sales	4,451	2,907	818
(Gain) loss due to fair value adjustments and other	(205)	(81)	(7)
Other operating activities, net	75	(545)	189
Total adjustments	(269)	(685)	378
Net cash provided by (used in) operating activities	741	172	830
Investing Activities
Proceeds from sales of securities available for sale	68	629	192
Proceeds from maturities of securities available for sale	2,771	4,099	800
Purchases of securities available for sale	(3,736)	(4,740)	(630)
Purchases of securities held to maturity	(720)	0	0
Proceeds from prepayments of securities held to maturity	17	0	0
Proceeds from sales of premises and equipment	42	12	20
Purchases of premises and equipment	(53)	(58)	(49)
Proceeds from sales and pay downs of loans classified as held to maturity	0	0	20
Proceeds from BOLI	22	12	14
Net (increase) decrease in loans and leases	3,509	(819)	(3,570)
Net (increase) decrease in interest-bearing deposits with banks	(6,556)	(6,187)	795
Cash (paid) received for acquisitions, net	0	2,071	0
Other investing activities, net	19	14	18
Net cash provided by (used in) investing activities	(4,617)	(4,967)	(2,390)
Common stock:
Stock options exercised	28	7	9
Cash dividends paid	(333)	(222)	(171)
Repurchase of shares	(416)	(4)	(134)
Cancellation of common shares	0	(7)	0
Preferred stock issuance	145	144	0
Call of preferred stock	(100)	0	0
Cash dividends paid - preferred stock - noncontrolling interest	(11)	(12)	(11)
Cash dividends paid - preferred stock	(33)	(17)	(6)
Net increase (decrease) in deposits	4,919	7,143	(253)
Net increase (decrease) in short-term borrowings	(75)	(1,529)	2,384
Increases (decreases) in term borrowings	(108)	(327)	(396)
Net cash provided by (used in) financing activities	4,016	5,176	1,422
Net increase (decrease) in cash and cash equivalents	140	381	(138)
Cash and cash equivalents at beginning of period	1,648	1,267	1,405
Cash and cash equivalents at end of period	1,788	1,648	1,267
Supplemental Disclosures
Total interest paid	170	261	411
Total taxes paid	258	105	71
Total taxes refunded	30	36	28
Transfer from loans to OREO	4	2	9
Transfer from loans HFS to trading securities	2,232	1,742	1,321
Transfer from loans to loans HFS	$ 31	$ 9	$ 31

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
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. 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 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. Card and Digital Banking Fees Card and digital banking fees include 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, 2021, accounts receivable related to products and services on non-interest income were $12 million. For the year ended December 31, 2021, 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, 2021. 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, 2021, 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. Statements of Cash Flows For purposes of these statements, cash and due from banks, federal funds sold, and securities purchased under agreements to resell are considered cash and cash equivalents. Federal funds are usually sold for one-day periods, and securities purchased under agreements to resell are short-term, highly liquid investments. 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 were classified in securities AFS and valued at elected fair value in periods prior to October 1, 2021 at which time they were transferred to trading securities. 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. 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 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 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 debt securities is included within other assets in the Consolidated Balance Sheet. 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 2021. 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. • Fair Value Option Election. These loans consist of originated fixed rate single-family residential mortgage loans that are 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, gains on sale are recognized through noninterest income. Net unrealized losses, if any, are recognized through a valuation allowance that is also 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. Loan commitment fees are generally deferred and amortized on a straight-line basis over the commitment period. Equipment financing leases to commercial clients 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 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. Consumer loans are generally placed into nonaccrual status no later than 90 days past due. • The accrual status policy for commercial TDRs follows the same internal policies and procedures as other commercial portfolio loans. • Residential real estate loans discharged through Chapter 7 bankruptcy and not reaffirmed by the borrower (“discharged bankruptcies”) are placed on nonaccrual and are reported as TDRs. They are not returned to accrual status even if current and performing in the future. • Current second lien residential real estate loans that are junior to first liens are placed on nonaccrual status if in bankruptcy. • 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. When commercial and consumer loans within each portfolio segment and class are placed on nonaccrual status, accrued but uncollected interest is reversed and charged against interest income. 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 segment, 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 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. 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. 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. 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 methodologies 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". ASC 326-20 was adopted on January 1, 2020 and for periods prior to that 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 probably 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 purchased credit impaired 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. Subsequent to December 31, 2019, 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 requiremen

Acquisitions and Divestitures

Acquisitions and Divestitures	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures IBKC Merger of Equals 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 was 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 the 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. Table 8.2.1 MERGER CONSIDERATION ALLOCATIONS (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 618 Total liabilities assumed $ 30,259 Net assets acquired $ 3,033 Consideration paid: Consideration for outstanding common stock $ 2,243 Consideration for equity awards 28 Consideration for preferred stock 231 Total consideration paid $ 2,502 Purchase accounting gain $ (531) (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 $531 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 purchase accounting gain is not taxable. The valuation of the IBKC merger-of-equals transaction was final as of June 30, 2021. On July 17, 2020, First Horizon Bank completed its purchase of 30 branches from Truist Bank. As of December 31, 2020, the valuation of the acquired assets and liabilities assumed from the Truist branches acquisition was final. 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 - Goodwill and Other Intangible Assets for additional information). This goodwill was the result of expected synergies, operational efficiencies and other factors. Expenses related to FHN's merger and integration activities are recorded in FHN's Corporate segment. Total merger and integration expense recognized for the years ended December 31, 2021 and 2020 are presented in the following table: Table 8.2.2 MERGER & INTEGRATION EXPENSE (Dollars in millions) 2021 2020 Personnel expense (a) $ 56 $ 66 Impairment of long-lived assets 34 6 Legal and professional fees (b) 21 39 Contract employment and outsourcing 12 1 Advertising and public relations 10 — Contribution expense (c) — 20 Other expense (d) 54 23 Total $ 187 $ 155 (a) Primarily comprised of fees for severance and retention. (b) Primarily comprised of fees for legal, accounting, and merger consultants. (c) Comprised of contribution expense related to the establishment of the Louisiana First Horizon Foundation. (d) Consists of operation services, communications and delivery, equipment expense, supplies, travel and entertainment, computer software, occupancy expense (including costs associated with lease exits) and costs of shareholder matters. 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. 2022 Merger Agreement with Toronto-Dominion Bank On February 27, 2022, FHN entered into the TD Merger Agreement with TD, TD-US, and Merger Sub. Refer to Note 27—Subsequent Events for additional information regarding the proposed transaction. Merger and integration expenses related to the Proposed TD Merger will be recorded in FHN’s Corporate segment. No such expenses were recognized during 2021.

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2021
Marketable Securities [Abstract]
Investment Securities	Investment Securities The following tables summarize FHN’s investment securities as of December 31, 2021 and 2020: Table 8.3.1a INVESTMENT SECURITIES AT YE 2021 December 31, 2021 (Dollars in millions) Amortized Gross Gross Fair Securities available for sale: Government agency issued MBS $ 5,062 $ 42 $ (49) $ 5,055 Government agency issued CMO 2,296 8 (47) 2,257 Other U.S. government agencies 861 4 (15) 850 States and municipalities 535 11 (1) 545 Total securities available for sale (a) $ 8,754 $ 65 $ (112) $ 8,707 Securities held to maturity: Government agency issued MBS $ 509 $ — $ (5) $ 504 Government agency issued CMO 203 — (2) 201 Total securities held to maturity $ 712 $ — $ (7) $ 705 (a) Includes $6.5 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. Table 8.3.1b INVESTMENT SECURITIES AT YE 2020 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 Securities held to maturity: Corporate and other debt $ 10 $ — $ — $ 10 Total securities held to maturity $ 10 $ — $ — $ 10 (a) SBA interest-only strips were 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. The amortized cost and fair value by contractual maturity for the debt securities portfolio as of December 31, 2021 is provided below: Table 8.3.2 DEBT SECURITIES PORTFOLIO MATURITIES Held to Maturity Available for Sale (Dollars in millions) Amortized Fair Amortized Fair Within 1 year $ — $ — $ 17 $ 18 After 1 year through 5 years — — 149 149 After 5 years through 10 years — — 351 349 After 10 years — — 879 879 Subtotal — — 1,396 1,395 Government agency issued MBS and CMO (a) 712 705 7,358 7,312 Total $ 712 $ 705 $ 8,754 $ 8,707 (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 AFS securities for the years ended December 31, 2021, 2020 and 2019 were insignificant. Gross losses on sales of AFS securities were insignificant for the year ended December 31, 2021, $4 million for the year ended 2020, and insignificant for the year ended December 31, 2019. Cash proceeds from the sales of AFS securities during 2021, 2020 and 2019 were $68 million, $629 million, and $192 million, respectively. The following tables provide information on investments within the available-for-sale portfolio that had unrealized losses as of December 31, 2021 and 2020: Table 8.3.3a AFS INVESTMENT SECURITIES WITH UNREALIZED LOSSES AT YE 2021 As of December 31, 2021 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 $ 2,973 $ (41) $ 184 $ (8) $ 3,157 $ (49) Government agency issued CMO 1,436 (37) 248 (10) 1,684 (47) Other U.S. government agencies 459 (11) 90 (4) 549 (15) States and municipalities 68 (1) — — 68 (1) Total $ 4,936 $ (90) $ 522 $ (22) $ 5,458 $ (112) Table 8.3.3b AFS INVESTMENT SECURITIES WITH UNREALIZED LOSSES AT YE 2020 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) 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 $23 million and $22 million as of December 31, 2021 and 2020, respectively. Consistent with FHN's review of the related securities, there were no credit-related write downs of AIR for AFS debt securities during the reporting period. Additionally, for AFS debt securities with unrealized losses, 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 HTM securities, an allowance for credit losses is required to absorb estimated lifetime credit losses. Total AIR not included in the fair value or amortized cost basis of HTM debt securities was $1 million as of December 31, 2021. FHN has assessed the risk of credit loss and has determined that zero allowance for credit losses for HTM securities was necessary as of December 31, 2021 and 2020. 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. The carrying amount of equity investments without a readily determinable fair value was $70 million and $57 million at December 31, 2021 and 2020, respectively. The year-to-date 2021 and 2020 gross amounts of upward and downward valuation adjustments were not significant. Unrealized gains of $3 million and $7 million were recognized during 2021 and 2020, respectively, for equity investments with readily determinable fair values.

Loans and Leases

Loans and Leases	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Loans and Leases	Loans and Leases 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, 2021 and 2020, excluding accrued interest of $134 million and $180 million, respectively, which is included in other assets in the Consolidated Balance Sheets. Table 8.4.1 LOANS AND LEASES BY PORTFOLIO SEGMENT December 31, (Dollars in millions) 2021 2020 Commercial: Commercial and industrial (a) (b) $ 26,550 $ 27,700 Loans to mortgage companies 4,518 5,404 Total commercial, financial, and industrial 31,068 33,104 Commercial real estate 12,109 12,275 Consumer: HELOC 1,964 2,420 Real estate installment loans 8,808 9,305 Total consumer real estate 10,772 11,725 Credit card and other 910 1,128 Loans and leases $ 54,859 $ 58,232 Allowance for loan and lease losses (670) (963) Net loans and leases $ 54,189 $ 57,269 (a) Includes equipment financing leases of $792 million and $587 million, respectively, as of December 31, 2021 and 2020. (b) Includes PPP loans fully guaranteed by the SBA of $1.0 billion and $4.1 billion as of December 31, 2021 and 2020. Restrictions Loans and leases with carrying values of $36.6 billion and $38.6 billion were pledged as collateral for borrowings at December 31, 2021 and 2020, respectively. At December 31, 2021 and 2020, FHN had pledged $6.9 billion and $7.8 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, 2021, FHN had loans to mortgage companies totaling $4.5 billion and loans to finance and insurance companies total $3.5 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 required 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 commercial 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, 2021 and 2020: Table 8.4.2a C&I PORTFOLIO AT YE 2021 December 31, 2021 (Dollars in millions) 2021 2020 2019 2018 2017 Prior to 2017 LMC (a) Revolving Revolving Total Credit Quality Indicator: Pass (PD grades 1 through 12) (c) $ 7,372 $ 3,576 $ 3,439 $ 1,455 $ 1,193 $ 2,267 $ 4,518 $ 6,386 $ 13 $ 30,219 Special Mention (PD grade 13) 25 39 50 48 36 43 — 100 4 345 Substandard, Doubtful, or Loss (PD grades 14,15, and 16) 24 61 67 103 24 48 — 129 48 504 Total C&I $ 7,421 $ 3,676 $ 3,556 $ 1,606 $ 1,253 $ 2,358 $ 4,518 $ 6,615 $ 65 $ 31,068 (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) C&I loans converted from revolving to term in 2021 were not material. (c) Includes PPP loans. Table 8.4.2b C&I PORTFOLIO AT YE 2020 December 31, 2020 (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) $ 9,060 $ 5,138 $ 2,628 $ 1,748 $ 1,161 $ 2,145 $ 5,404 $ 4,571 $ 60 $ 31,915 Special Mention (PD grade 13) 89 93 70 31 37 64 — 127 1 512 Substandard, Doubtful, or Loss (PD grades 14,15, and 16) 182 77 114 50 42 58 — 95 59 677 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) Includes PPP loans. Table 8.4.2c CRE PORTFOLIO AT YE 2021 December 31, 2021 (Dollars in millions) 2021 2020 2019 2018 2017 Prior to 2017 Revolving Revolving Total Credit Quality Indicator: Pass (PD grades 1 through 12) $ 3,441 $ 2,065 $ 2,514 $ 929 $ 691 $ 1,822 $ 204 $ — $ 11,666 Special Mention (PD grade 13) 4 26 52 125 20 65 — — 292 Substandard, Doubtful, or Loss (PD grades 14,15, and 16) 47 — 24 3 33 32 12 — 151 Total CRE $ 3,492 $ 2,091 $ 2,590 $ 1,057 $ 744 $ 1,919 $ 216 $ — $ 12,109 Table 8.4.2d CRE PORTFOLIO AT YE 2020 December 31, 2020 (Dollars in millions) 2020 2019 2018 2017 2016 Prior to 2016 Revolving Revolving Total Credit Quality Indicator: Pass (PD grades 1 through 12) $ 2,477 $ 3,311 $ 1,750 $ 1,140 $ 946 $ 1,800 $ 259 $ 19 $ 11,702 Special Mention (PD grade 13) 48 24 117 75 71 54 — — 389 Substandard, Doubtful, or Loss (PD grades 14,15, and 16) 30 13 21 42 27 33 18 — 184 Total CRE $ 2,555 $ 3,348 $ 1,888 $ 1,257 $ 1,044 $ 1,887 $ 277 $ 19 $ 12,275 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 tables reflect the amortized cost basis by year of origination and refreshed FICO scores for consumer real estate loans as of December 31, 2021 and 2020. Within consumer real estate, classes include HELOC and real estate installment loans. 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 fixed term loans and are classified below in their vintage year. All loans in the following tables classified in a vintage year are real estate installment loans. Table 8.4.3a CONSUMER REAL ESTATE PORTFOLIO AT YE 2021 December 31, 2021 (Dollars in millions) 2021 2020 2019 2018 2017 Prior to 2017 Revolving loans Revolving Loans converted to term loans (a) Total FICO score 740 or greater $ 1,594 $ 1,156 $ 825 $ 473 $ 394 $ 1,335 $ 1,086 $ 115 $ 6,978 FICO score 720-739 236 171 109 61 44 209 162 21 1,013 FICO score 700-719 143 112 81 68 45 153 141 23 766 FICO score 660-699 164 131 120 106 44 246 204 44 1,059 FICO score 620-659 42 36 55 23 13 118 66 27 380 FICO score less than 620 26 84 42 32 45 272 42 33 576 Total $ 2,205 $ 1,690 $ 1,232 $ 763 $ 585 $ 2,333 $ 1,701 $ 263 $ 10,772 (a) $43 million of HELOC loans were converted from revolving to term in 2021. Table 8.4.3b CONSUMER REAL ESTATE PORTFOLIO AT YE 2020 December 31, 2020 (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 tables reflect the amortized cost basis by year of origination and refreshed FICO scores for credit card and other loans as of December 31, 2021 and 2020. Table 8.4.4a CREDIT CARD & OTHER PORTFOLIO AT YE 2021 December 31, 2021 (Dollars in millions) 2021 2020 2019 2018 2017 Prior to 2017 Revolving loans Revolving Loans converted to term loans Total FICO score 740 or greater $ 56 $ 35 $ 29 $ 23 $ 13 $ 56 $ 200 $ 11 $ 423 FICO score 720-739 14 5 4 3 4 17 46 3 96 FICO score 700-719 8 5 4 4 3 17 42 1 84 FICO score 660-699 25 6 5 6 4 31 98 2 177 FICO score 620-659 4 3 2 4 3 18 22 1 57 FICO score less than 620 24 3 3 4 4 16 18 1 73 Total $ 131 $ 57 $ 47 $ 44 $ 31 $ 155 $ 426 $ 19 $ 910 (a) $9 million of other consumer loans were converted from revolving to term in 2021. Table 8.4.4b CREDIT CARD & OTHER PORTFOLIO AT YE 2020 December 31, 2020 (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 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. When qualifying COVID-19 deferral periods end, the related loans are subject to past due reporting. The following tables reflect accruing and non-accruing loans and leases by class on December 31, 2021 and 2020: Table 8.4.5a ACCRUING & NON-ACCRUING LOANS & LEASES AT YE 2021 December 31, 2021 Accruing Non-Accruing (Dollars in millions) Current 30-89 90+ Total Current 30-89 90+ Total Total Commercial, financial, and industrial: C&I (a) $ 26,367 $ 53 $ 5 $ 26,425 $ 97 $ 1 $ 27 $ 125 $ 26,550 Loans to mortgage companies 4,518 — — 4,518 — — — — 4,518 Total commercial, financial, and industrial 30,885 53 5 30,943 97 1 27 125 31,068 Commercial real estate: CRE (b) 12,087 13 — 12,100 6 1 2 9 12,109 Consumer real estate: HELOC (c) 1,906 7 6 1,919 34 2 9 45 1,964 Real estate installment loans (d) 8,658 30 27 8,715 44 3 46 93 8,808 Total consumer real estate 10,564 37 33 10,634 78 5 55 138 10,772 Credit card and other: Credit card 292 2 2 296 — — — — 296 Other 608 3 — 611 1 — 2 3 614 Total credit card and other 900 5 2 907 1 — 2 3 910 Total loans and leases $ 54,436 $ 108 $ 40 $ 54,584 $ 182 $ 7 $ 86 $ 275 $ 54,859 (a) $99 million of C&I loans are nonaccrual loans that have been specifically reviewed for impairment with no related allowance. (b) $5 million of CRE loans are nonaccrual loans that have been specifically reviewed for impairment with no related allowance. (c) $7 million of HELOC loans are nonaccrual loans that have been specifically reviewed for impairment with no related allowance. (d) $50 million of real estate installment loans are nonaccrual loans that have been specifically reviewed for impairment with no related allowance. Table 8.4.5b ACCRUING & NON-ACCRUING LOANS & LEASES AT YE 2020 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) $ 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 (b) 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 Real estate 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. 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, 2021 and 2020, FHN had commercial loans with amortized cost of approximately $120 million and $167 million, respectively, that were based on the value of underlying collateral. Collateral-dependent C&I and CRE loans totaled $115 million and $5 million, respectively, at December 31, 2021. The collateral for these loans generally consists of business assets including land, buildings, equipment and financial assets. During the years ended December 31, 2021 and 2020, FHN recognized total charge-offs of approximately $26 million and $36 million, respectively, on these loans related to reductions in estimated collateral values. Consumer HELOC and installment loans with amortized cost based on the value of underlying real estate collateral were approximately $7 million and $20 million, respectively, as of December 31, 2021, and $9 million and $26 million, respectively, as of December 31, 2020. Charge-offs on collateral-dependent consumer loans were $1 million during the year ended December 31, 2021, and were not significant during the year ended December 31, 2020. 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 TDRs and have been excluded from the disclosures below. For loan modifications that were made during the years ended December 31, 2021 and 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 TDRs, 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 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 real estate 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. 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, 2021 and 2020, FHN had $206 million and $307 million of portfolio loans classified as TDRs, respectively. Additionally, $35 million and $42 million of loans held for sale as of December 31, 2021 and 2020, respectively, were classified as TDRs. The following table presents the end of period balance for loans modified in a TDR during the years ended December 31, 2021 and 2020: Table 8.4.6 LOANS MODIFIED IN A TDR 2021 2020 (Dollars in millions) Number Pre-Modification Post-Modification Number Pre-Modification Post-Modification C&I 32 $ 37 $ 34 112 $ 195 $ 188 CRE 1 12 10 19 15 15 HELOC 25 3 3 64 5 5 Real estate installment loans 87 14 14 117 20 19 Credit card and other 51 — — 56 1 1 Total TDRs 196 $ 66 $ 61 368 $ 236 $ 228 The following table presents TDRs which re-defaulted during 2021 and 2020, 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. Table 8.4.7 LOANS MODIFIED IN A TDR THAT RE-DEFAULTED 2021 2020 (Dollars in millions) Number Recorded Number Recorded C&I 18 $ 5 9 $ 1 CRE 6 19 — — HELOC 1 — 8 — Real estate installment loans 9 5 18 1 Credit card and other 4 — 24 — Total TDRs 38 $ 29 59 $ 2

Allowance for Credit Losses

Allowance for Credit Losses	12 Months Ended
	Dec. 31, 2021
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. See Note 1 - Significant Accounting Policies for further discussion of FHN's ACL methodology. 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), including amortization and prepayment assumptions, on an undiscounted basis. FHN uses models or assumptions to develop the expected loss forecasts, which incorporate multiple macroeconomic forecasts 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. In order to capture the unique risks of the loan portfolio within the PD, LGD, and prepayment models, FHN segments the portfolio into pools, generally incorporating loan grades for commercial loans. As there can be no certainty that actual economic performance will precisely follow any specific macroeconomic forecast, 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 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 or statistical models. The quantitative evaluation of the adequacy of the ACL utilizes a weighting approach for multiple economic forecast scenarios 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 quantitative calculations. 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, 2021 and 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, 2021 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 decrease in the ACL as of December 31, 2021 as compared to December 31, 2020 reflects an improvement in the macroeconomic outlook, positive grade migration, and lower loan balances, which was offset slightly by higher C&I loan balances excluding PPP loans. In developing credit loss estimates for its loan and lease portfolios, FHN utilized multiple Moody’s forecast scenarios for its macroeconomic inputs. Each scenario included assumptions around the COVID-19 pandemic and its impact on various sections of the economy. The heaviest weight was placed on the baseline forecast, which assumed positive real GDP growth over the forecast horizon and return to full employment by year-end 2022. During the years ended December 31, 2021 and 2020, FHN also considered stressed loan portfolios or industries that are most exposed to the effects of the COVID-19 pandemic and added qualitative adjustments, where needed, to account for the risks not captured in modeled results. Management also made qualitative adjustments to reflect estimated recoveries based on a review of prior charge off and recovery levels, for default risk associated with large balances with individual borrowers, for estimated loss amounts not reflected in historical factors due to specific portfolio risk, and for instances where limited data for acquired loans is considered to affect modeled results. 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, 2021, 2020 and 2019: Table 8.5.1 ROLLFORWARD OF ALLL & RESERVE FOR UNFUNDED LENDING COMMITMENTS (Dollars in millions) Commercial, Financial, and Industrial (a) Commercial Consumer Credit Card Total Allowance for loan and lease losses: Balance as of January 1, 2021 $ 453 $ 242 $ 242 $ 26 $ 963 Charge-offs (34) (5) (5) (15) (59) Recoveries 21 5 27 4 57 Provision for loan and lease losses (106) (88) (101) 4 (291) Balance as of December 31, 2021 334 154 163 19 670 Reserve for remaining unfunded commitments: Balance as of January 1, 2021 65 10 10 — 85 Provision for unfunded lending commitments (19) 2 (2) — (19) Balance as of December 31, 2021 46 12 8 — 66 Allowance for credit losses as of December 31, 2021 $ 380 $ 166 $ 171 $ 19 $ 736 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 remaining unfunded 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 credit losses as of December 31, 2020 $ 518 $ 252 $ 252 $ 26 $ 1,048 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 for loan losses 51 5 (21) 12 47 Balance as of December 31, 2019 123 36 28 13 200 Reserve for remaining unfunded commitments: Balance as of January 1, 2019 4 3 — — 7 Provision for unfunded lending commitments — (1) — — (1) Balance as of December 31, 2019 4 2 — — 6 Allowance for credit losses as of December 31, 2019 $ 127 $ 38 $ 28 $ 13 $ 206 ( a) C&I loans as of December 31, 2021 and 2020 include $1.0 billion and $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 allowance for loan and lease losses. (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 ASC 326, 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 Leases

Premises, Equipment, and Leases	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Premises, Equipment, and Leases	Premises, Equipment, and Leases Premises and equipment were comprised of the following at December 31, 2021 and 2020: Table 8.6.1 PREMISES & EQUIPMENT (Dollars in millions) December 31, 2021 December 31, 2020 Land $ 163 $ 182 Buildings 543 594 Leasehold improvements 74 73 Furniture, fixtures, and equipment 276 269 Fixed assets held for sale (a) 16 18 Total premises and equipment 1,072 1,136 Less accumulated depreciation and amortization (407) (377) Premises and equipment, net $ 665 $ 759 (a) Primarily comprised of land and buildings. In 2021 and 2020, FHN recognized $37 million and $12 million, respectively, of fixed asset impairments and lease abandonment charges related to branch closures which were included in other expense on the Consolidated Statements of Income. In 2021, FHN had $6 million of net gains related to the sales of bank branches which was included in other income on the Consolidated Statements of Income. Similar net gains in 2020 were not material. 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 details of the classification of FHN's right-of-use assets and lease liabilities included in the Consolidated Balance Sheets. Table 8.6.2 RIGHT-OF-USE ASSETS & LEASE LIABILITIES (Dollars in millions) December 31, 2021 December 31, 2020 Lease right-of-use assets: Classification Operating lease right-of-use assets Other assets $ 345 $ 367 Finance lease right-of-use assets Other assets 3 4 Total lease right-of-use assets $ 348 $ 371 Lease liabilities: Operating lease liabilities Other liabilities $ 382 $ 407 Finance lease liabilities Other liabilities 4 4 Total lease liabilities $ 386 $ 411 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, 2021 and 2020. Table 8.6.3 REMAINING LEASE TERMS & DISCOUNT RATES December 31, 2021 December 31, 2020 Weighted Average Remaining Lease Terms Operating leases 12.37 years 12.49 years Finance leases 10.61 years 11.45 years Weighted Average Discount Rate Operating leases 2.35 % 2.39 % Finance leases 2.85 % 3.05 % The following table provides a detail of the components of lease expense and other lease information for the years ended December 31, 2021, 2020, and 2019: Table 8.6.4 LEASE EXPENSE & OTHER INFORMATION (Dollars in millions) 2021 2020 2019 Lease cost Operating lease cost $ 48 $ 39 $ 25 Sublease income (1) (1) — Total lease cost $ 47 $ 38 $ 25 Other information (Gain) loss on right-of-use asset impairment - operating leases $ 3 $ 6 $ 3 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 53 41 23 Right-of-use assets obtained in exchange for new lease obligations: Operating leases 19 216 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, 2021: Table 8.6.5 LEASE LIABILITY MATURITIES (Dollars in millions) December 31, 2021 2022 $ 49 2023 45 2024 40 2025 39 2026 37 2027 and thereafter 238 Total lease payments 448 Less lease liability interest (62) Total lease liability $ 386 FHN had no aggregate undiscounted contractual obligations for lease arrangements that have not commenced as of December 31, 2021. 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 1 to 23 years, some of which contain options to extend the lease for various periods of time and/or to purchase the equipment subject to the lease at various points in time. 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, 2021 and 2020 were as follows: Table 8.6.6 LEASE NET INVESTMENTS (Dollars in millions) December 31, 2021 December 31, 2020 Lease receivable $ 729 $ 535 Unearned income (135) (108) Guaranteed residual 97 92 Unguaranteed residual 102 68 Total net investment $ 793 $ 587 Interest income for direct financing or sales-type leases totaled $26 million and $11 million for the years ended December 31, 2021 and 2020, respectively. There was no profit or loss recognized at the commencement date for direct financing or sales-type leases for the years ended December 31, 2021 and 2020. Maturities of the Company's lease receivables as of December 31, 2021 were as follows: Table 8.6.7 LEASE RECEIVABLE MATURITIES (Dollars in millions) December 31, 2021 2022 $ 136 2023 122 2024 96 2025 73 2026 57 2027 and thereafter 245 Total future minimum lease payments $ 729

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2021
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 IBKC. In connection with the merger, FHN recorded a $531 million purchase accounting gain, based on 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 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, 2021. 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 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 is a summary of goodwill by reportable segment included in the Consolidated Balance Sheets as of December 31, 2021: Table 8.7.1 GOODWILL (Dollars in millions) Regional Specialty Total 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 Additions — — — December 31, 2021 $ 880 $ 631 $ 1,511 Other intangible assets The following table, which excludes fully amortized intangibles, presents other intangible assets included in the Consolidated Balance Sheets: Table 8.7.2 OTHER INTANGIBLE ASSETS December 31, 2021 December 31, 2020 (Dollars in millions) Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Core deposit intangibles $ 371 $ (128) $ 243 $ 371 $ (81) $ 290 Client relationships 37 (11) 26 37 (8) 29 Other (a) 41 (12) 29 41 (6) 35 Total $ 449 $ (151) $ 298 $ 449 $ (95) $ 354 (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 $56 million, $40 million, and $25 million for the years ended December 31, 2021, 2020 and 2019, respectively. The following table shows the aggregated amortization expense estimated, as of December 31, 2021, for the next five years: Table 8.7.3 ESTIMATED AMORTIZATION EXPENSE (Dollars in millions) 2022 $ 51 2023 48 2024 44 2025 38 2026 33

Mortgage Banking Activity

Mortgage Banking Activity	12 Months Ended
	Dec. 31, 2021
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 includes 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 and jumbo 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. At December 31, 2021, FHN had approximately $45 million of loans that remained from pre-2009 Mortgage Business operations of legacy First Horizon. Activity related to the pre-2009 mortgage loans was primarily limited to payments and write-offs in 2021 and 2020, with no new originations or loan sales, and only an insignificant amount of repurchases. These loans are excluded from the disclosure below. The following table summarizes activity relating to residential mortgage loans held for sale for the years ended December 31, 2021 and 2020: Table 8.8.1 MORTGAGE LOAN ACTIVITY (Dollars in millions) 2021 2020 Balance at beginning of period $ 409 $ 4 Acquired — 320 Originations and purchases 2,836 2,499 Sales, net of gains (3,025) (2,405) Mortgage loans transferred from (to) held for investment 30 (9) Balance at end of period $ 250 $ 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. Table 8.8.2 MORTGAGE SERVICING RIGHTS December 31, 2021 (Dollars in millions) Gross Accumulated Net Carrying Amount Mortgage servicing rights $ 39 $ (9) $ 30 December 31, 2020 (Dollars in millions) Gross Accumulated Net Carrying Amount Mortgage servicing rights $ 28 $ (3) $ 25 In addition, there was an insignificant amount of non-mortgage and commercial servicing rights as of December 31, 2021 and 2020. Total mortgage servicing fees included in mortgage banking and title income were $4 million and $2 million for the years ended December 31, 2021 and 2020, respectively.

Deposits

Deposits	12 Months Ended
	Dec. 31, 2021
Maturities of Time Deposits [Abstract]
Deposits	Deposits The composition of deposits is presented in the following table: Table 8.9.1 DEPOSITS (Dollars in millions) 2021 2020 Savings $ 26,457 $ 27,324 Time deposits 3,500 5,070 Other interest-bearing deposits 17,055 15,415 Total interest-bearing deposits 47,012 47,809 Noninterest-bearing deposits 27,883 22,173 Total deposits $ 74,895 $ 69,982 Time deposits in denominations that exceed the FDIC insurance limit of $250,000 at December 31, 2021 and 2020 were $859 million and $1.4 billion, respectively. Of those deposits, $515 million and $925 million were uninsured as of December 31, 2021 and 2020, respectively. Scheduled maturities of time deposits as of December 31, 2021 were as follows: Table 8.9.2 TIME DEPOSIT MATURITIES (Dollars in millions) 2022 $ 3,006 2023 229 2024 115 2025 79 2026 43 2027 and after 28 Total $ 3,500

Short-Term Borrowings

Short-Term Borrowings	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Short-Term Borrowings	Short-Term Borrowings A summary of short-term borrowings for the years 2021, 2020 and 2019 is presented in the following table: Table 8.10.1 SHORT-TERM BORROWINGS (Dollars in millions) Trading Liabilities Federal Funds Purchased Securities Sold Under Agreements to Repurchase Other Short-term Borrowings 2021 Average balance $ 540 $ 949 $ 1,235 $ 124 Year-end balance 426 775 1,247 102 Maximum month-end outstanding 685 1,037 1,615 146 Average rate for the year 1.11 % 0.12 % 0.30 % 0.09 % Average rate at year-end 1.62 % 0.10 % 0.11 % 0.08 % 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 % 0.50 % 0.84 % 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 % 2.07 % 2.10 % Average rate at year-end 2.07 % 1.55 % 1.72 % 2.14 % 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, 2021, fixed income trading securities with a fair value of $33 million were pledged to secure other short-term borrowings.

Term Borrowings

Term Borrowings	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Term Borrowings	Term Borrowings Term borrowings include senior and subordinated borrowings with original maturities greater than one year. The following table presents information pertaining to term borrowings as of December 31, 2021 and 2020: Table 8.11.1 TERM BORROWINGS (Dollars in millions) 2021 2020 First Horizon Bank: Subordinated notes (a) Maturity date – May 1, 2030 - 5.75% $ 447 $ 447 Other collateralized borrowings - Maturity date – December 22, 2037 0.50% on December 31, 2021 and 0.52% on December 31, 2020 (b) 87 82 Other collateralized borrowings - SBA loans (c) 6 15 First Horizon Corporation: Senior notes Maturity date – May 26, 2023 - 3.55% 448 447 Maturity date – May 26, 2025 - 4.00% 349 348 Junior subordinated debentures (d) Maturity date - July 31, 2031 - 3.51% on December 31, 2020 — 7 Maturity date - November 15, 2032 - 3.50% on December 31, 2020 — 9 Maturity date - March 26, 2033 - 3.40% on December 31, 2020 — 5 Maturity date - June 17, 2033 - 3.40% on December 31, 2020 — 9 Maturity date - March 17, 2034 - 3.02% on December 31, 2020 — 6 Maturity date - September 20, 2034 - 2.25% on December 31, 2020 — 8 Maturity date - June 28, 2035 - 1.88% on December 31, 2021 and 1.90% on December 31, 2020 3 3 Maturity date - December 15, 2035 - 1.57% on December 31, 2021 and 1.59% on December 31, 2020 18 18 Maturity date - March 15, 2036 - 1.60% on December 31, 2021 and 1.62% on December 31, 2020 9 9 Maturity date - March 15, 2036 - 1.74% on December 31, 2021 and 1.76% on December 31, 2020 12 12 Maturity date - June 30, 2036 - 1.54% on December 31, 2021 and 1.56% on December 31, 2020 27 27 Maturity date - July 7, 2036 - 1.67% on December 31, 2021 and 1.79% on December 31, 2020 18 18 Maturity date - October 7, 2036 - 1.88% on December 31, 2020 — 6 Maturity date - December 30, 2036 - 1.84% on December 31, 2020 — 10 Maturity date - June 15, 2037 - 1.85% on December 31, 2021 and 1.87% on December 31, 2020 52 51 Maturity date - September 6, 2037 - 1.61% on December 31, 2021 and 1.66% on December 31, 2020 9 9 Maturity date - September 15, 2037 - 1.65% on December 31, 2020 — 7 Maturity date - December 15, 2037 - 2.76% on December 31, 2020 — 10 Maturity date - December 15, 2037 - 2.97% on December 31, 2020 — 10 Maturity date - June 15, 2038 - 3.72% on December 31, 2020 — 6 Notes payable - New market tax credit investments; 7 to 35 year term, 0.93% to 4.95% on December 31, 2021; 1.27% to 4.95% on December 31, 2020 59 45 FT Real Estate Securities Company, Inc.: Cumulative preferred stock (e) Maturity date – March 31, 2031 – 9.50% 46 46 Total $ 1,590 $ 1,670 (a) Qualifies for Tier 2 capital under the risk-based capital guidelines for First Horizon Bank as well as First Horizon Corporation up to certain limits for minority interest capital instruments. (b) Secured by trust preferred loans. (c) Collateralized borrowings associated with SBA loan sales that did not meet sales criteria. The loans have remaining terms of 4 to 25 years. These borrowings had a weighted average interest rate of 4.10% and 3.90% on December 31, 2021 and 2020, respectively. (d) Acquired in conjunction with the acquisitions of CBF and merger with IBKC. The legacy IBKC junior subordinated debentures were early redeemed in 2021. A portion qualifies for Tier 2 capital under the risk-based capital guidelines. (e) Qualifies for Tier 2 capital under the risk-based capital guidelines for both First Horizon Bank and First Horizon Corporation up to certain limits for minority interest capital instruments. Annual principal repayment requirements as of December 31, 2021 are as follows: Table 8.11.2 ANNUAL PRINCIPAL REPAYMENT SCHEDULE (Dollars in millions) 2022 $ — 2023 450 2024 6 2025 350 2026 and after 807 In conjunction with its acquisitions, 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. During 2021, FHN redeemed $94 million of legacy IBKC junior subordinated debt underlying multiple issuances of trust preferred securities. The redemption resulted in a loss on debt extinguishment of $26 million. A portion of FHN's remaining junior subordinated notes qualifies as Tier 2 capital under the risk-based capital guidelines.

Preferred Stock

Preferred Stock	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Preferred Stock	Preferred Stock FHN Preferred Stock The following table presents a summary of FHN's non-cumulative perpetual preferred stock: Table 8.12.1 FHN PREFERRED STOCK December 31, (Dollars in millions) 2021 2020 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 — $ — $ — $ 95 Series B 7/2/2020 8/1/2025 6.625 % (b) Semi-annually 8,000 80 77 77 Series C 7/2/2020 5/1/2026 6.600 % (c) Quarterly 5,750 58 59 59 Series D 7/2/2020 5/1/2024 6.100 % (d) Semi-annually 10,000 100 94 94 Series E 5/28/2020 10/10/2025 6.500 % Quarterly 1,500 150 145 145 Series F 5/3/2021 7/10/2026 4.700 % Quarterly 1,500 150 145 — 26,750 $ 538 $ 520 $ 470 (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% During 2021, FHN issued $150 million of 4.70% Series F Non-Cumulative Perpetual Preferred Stock (the Series F Preferred Stock). The Series F Preferred Stock is redeemable at FHN's option, in whole or in part, on or after July 10, 2026. Earlier redemption is possible, at FHN's election, if certain regulatory capital events occur. The $145 million carrying value of the Series F Preferred Stock currently qualifies as Tier 1 Capital. During 2021, FHN redeemed all outstanding shares of Series A Preferred Stock. The difference between the $100 million liquidation preference and the carrying value of the Series A Preferred Stock resulted in a $5 million deemed dividend that was included in EPS for the year ended December 31, 2021. 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 both First Horizon Bank and FHN. On December 31, 2021 and 2020, $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%

Regulatory Capital and Restrict

Regulatory Capital and Restrictions	12 Months Ended
	Dec. 31, 2021
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, 2021, FHN and First Horizon Bank met all capital adequacy requirements to which they were subject. As of December 31, 2021, 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 following table. Table 8.13.1 CAPITAL AMOUNTS & RATIOS (Dollars in millions) First Horizon Corporation First Horizon Bank Amount Ratio Amount Ratio On December 31, 2021 Actual: Total Capital $ 7,918 12.34 % $ 7,893 12.41 % Tier 1 Capital 7,088 11.04 7,133 11.22 Common Equity Tier 1 6,367 9.92 6,838 10.75 Leverage 7,088 8.08 7,133 8.20 Minimum Requirement for Capital Adequacy Purposes: Total Capital 5,135 8.00 5,088 8.00 Tier 1 Capital 3,851 6.00 3,816 6.00 Common Equity Tier 1 2,888 4.50 2,862 4.50 Leverage 3,507 4.00 3,478 4.00 Minimum Requirement to be Well Capitalized Under Prompt Corrective Action Provisions: Total Capital 6,360 10.00 Tier 1 Capital 5,088 8.00 Common Equity Tier 1 4,134 6.50 Leverage 4,348 5.00 On December 31, 2020 Actual: Total Capital $ 7,935 12.57 % $ 7,827 12.52 Tier 1 Capital 6,782 10.74 6,832 10.93 Common Equity Tier 1 6,110 9.68 6,537 10.46 Leverage 6,782 8.24 6,832 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 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, 2021 and 2020, First Horizon Bank was not required to maintain cash reserves after the consideration of $464 million and $397 million in average vault cash respectively. 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, 2021, First Horizon Bank had undivided profits of $2.2 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 period. 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 $1.1 billion at January 1, 2022. First Horizon Bank declared and paid common dividends to the parent company in the amount of $770 million in 2021 and $180 million in 2020. During 2021 and 2020, 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 to pay dividends only 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 $812 million, on December 31, 2021. 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, 2021, the parent company had covered transactions of less than $1 million from First Horizon Bank, and 840 Denning LLC, a parent company subsidiary, had a covered transaction of $2 million. Two of the bank’s financial subsidiaries, FHN Financial Securities Corp. and First Horizon Advisors, Inc., had covered transactions from First Horizon Bank totaling $400 million and $51 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, 2021. First Horizon Bank’s total covered transactions with all affiliates including the parent company on December 31, 2021 were $453 million.

Components of Other Comprehensi

Components of Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2021
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, 2021, 2020, and 2019: Table 8.14.1 ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Dollars in millions) Securities AFS Cash Flow Pension and Total 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) Net unrealized gains (losses) (144) (3) (2) (149) Amounts reclassified from AOCI — (7) 8 1 Other comprehensive income (loss) (144) (10) 6 (148) Balance as of December 31, 2021 $ (36) $ 2 $ (254) $ (288) Reclassifications from AOCI, and related tax effects, were as follows: Table 8.14.2 RECLASSIFICATIONS FROM AOCI (Dollars in millions) Details about AOCI 2021 2020 2019 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 (9) (8) 5 Interest and fees on loans and leases Tax expense (benefit) 2 2 (1) Income tax expense (7) (6) 4 Pension and Postretirement Plans: Amortization of prior service cost and net actuarial (gain) loss 10 13 10 Other expense Tax expense (benefit) (2) (3) (3) Income tax expense 8 10 7 Total reclassification from AOCI $ 1 $ 7 $ 11

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
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: Table 8.15.1 INCOME TAX EXPENSE (Dollars in millions) 2021 2020 2019 Consolidated Statements of Income: Income tax expense $ 274 $ 76 $ 134 Consolidated Statements of Changes in Equity: Income tax expense (benefit) related to: Net unrealized gains on pension and other postretirement plans 2 3 5 Net unrealized gains (losses) on securities available for sale (46) 25 35 Net unrealized gains (losses) on cash flow hedges (3) 3 5 Total $ 227 $ 107 $ 179 The components of income tax expense (benefit) for the years ended December 31, were as follows: Table 8.15.2 INCOME TAX EXPENSE COMPONENTS (Dollars in millions) 2021 2020 2019 Current: Federal $ 235 $ 80 $ 106 State 39 14 14 Deferred: Federal (1) (15) 5 State 1 (3) 9 Total $ 274 $ 76 $ 134 A reconciliation of expected income tax expense (benefit) at the federal statutory rate of 21% for 2021, 2020, and 2019, respectively to the total income tax expense follows: Table 8.15.3 RECONCILIATION FROM STATUTORY RATES (Dollars in millions) 2021 2020 2019 Federal income tax rate 21 % 21 % 21 % Tax computed at statutory rate $ 270 $ 196 $ 123 Increase (decrease) resulting from: State income taxes, net of federal income tax benefit 32 9 15 Bank-owned life insurance (7) (6) (5) 401(k) – employee stock ownership plan (1) (1) (1) Tax-exempt interest (10) (8) (6) Non-deductible expenses 8 13 11 LIHTC credits and benefits, net of amortization (14) (9) (4) Other tax credits (4) (5) — Other changes in unrecognized tax benefits 4 (9) 4 Purchase accounting gain — (112) — Other (4) 8 (3) Total $ 274 $ 76 $ 134 As of December 31, 2021, FHN had net deferred tax asset balances related to federal and state income tax carryforwards of $38 million and $2 million, respectively, which will expire at various dates as follows: Table 8.15.4 TAX CARRYFORWARD DTA EXPIRATION DATES (Dollars in millions) Expiration Dates Net Deferred Tax Losses - federal 2026 - 2035 $ 38 Net operating losses - states 2027 - 2040 2 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, 2021, FHN's net DTA was $52 million compared to less than $1 million at December 31, 2020. At December 31, 2021, FHN's gross DTA (net of a valuation allowance) and gross DTL were $448 million and $396 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, 2021 and 2020 were as follows: Table 8.15.5 COMPONENTS OF DTAs & DTLs (Dollars in millions) 2021 2020 Deferred tax assets: Loss reserves $ 161 $ 205 Employee benefits 83 86 Accrued expenses 16 7 Depreciation and amortization 13 — Lease liability 94 100 Federal loss carryforwards 38 44 State loss carryforwards 2 9 Investment in debt securities (ASC 320) (a) 12 — Other 29 20 Gross deferred tax assets 448 471 Deferred tax liabilities: Depreciation and amortization $ — $ 83 Investment in debt securities (ASC 320) (a) — 35 Equity investments 4 11 Other intangible assets 86 93 Prepaid expenses 18 15 ROU lease asset 85 89 Leasing 198 135 Other 5 10 Gross deferred tax liabilities 396 471 Net deferred tax assets $ 52 $ — (a) Tax effects of unrealized gains and losses are tracked on a security-by-security basis. The total unrecognized tax benefits at December 31, 2021 and 2020, was $92 million and $70 million, respectively. To the extent such unrecognized tax benefits as of December 31, 2021 are subsequently recognized, $42 million of tax benefits could impact tax expense and FHN’s effective tax rate in future periods. FHN is currently under audit in several jurisdictions. It is reasonably possible that the unrecognized tax benefits related to federal and state exposures could decrease by $58 million during 2022 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 $14 million and $11 million accrued for the payment of interest as of December 31, 2021 and 2020, respectively. The total amount of interest and penalties recognized in the Consolidated Statements of Income during 2021 and 2020 was an expense of $3 million and $8 million, respectively. The rollforward of unrecognized tax benefits is shown in the following table: Table 8.15.6 ROLLFORWARD OF UNRECOGNIZED TAX BENEFITS (Dollars in millions) 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 Increases related to prior year tax positions 24 Increases related to current year tax positions 1 Lapse of statutes (3) Balance at December 31, 2021 $ 92

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2021
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: Table 8.16.1 NET INCOME & COMMON SHARE RECONCILIATIONS (Dollars in millions, except per share data; shares in thousands) 2021 2020 2019 Net income $ 1,010 $ 857 $ 452 Net income attributable to noncontrolling interest 11 12 11 Net income attributable to controlling interest 999 845 441 Preferred stock dividends 37 23 6 Net income available to common shareholders $ 962 $ 822 $ 435 Weighted average common shares outstanding—basic 546,354 432,125 313,637 Effect of dilutive securities 4,887 1,592 2,020 Weighted average common shares outstanding—diluted 551,241 433,717 315,657 Basic earnings per common share $ 1.76 $ 1.90 $ 1.39 Diluted earnings per common share $ 1.74 $ 1.89 $ 1.38 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: Table 8.16.2 ANTI-DILUTIVE EQUITY AWARDS (Shares in thousands) 2021 2020 2019 Stock options excluded from the calculation of diluted EPS 1,366 4,595 2,359 Weighted average exercise price of stock options excluded from the calculation of diluted EPS $ 20.44 $ 17.47 $ 21.12 Other equity awards excluded from the calculation of diluted EPS 1,531 3,639 2,224

Contingencies and Other Disclos

Contingencies and Other Disclosures	12 Months Ended
	Dec. 31, 2021
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, 2021, the aggregate amount of liabilities established for all such loss contingency matters was $2 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, 2021, 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 At December 31, 2021, no pending or known threatened matters were material loss contingency matters, as described above. 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 a securitization organized by FHN. 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 $17 million and $16 million as of December 31, 2021 and December 31, 2020, 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.

Retirement Plans and Other Empl

Retirement Plans and Other Employee Benefits	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
Retirement Plans and Other Employee Benefits	Retirement Plans 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 a contribution of $6 million to the qualified pension plan in 2021, and no contributions were made in 2020 and 2019. Management does not currently anticipate that FHN will make a contribution to the qualified pension plan in 2022. 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 2021. FHN anticipates making benefit payments under the non-qualified plans of $5 million in 2022. Savings Plan FHN provides all qualifying full-time employees with the opportunity to participate in FHN's tax qualified 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% match for the first 6% 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 $51 million for 2021, $37 million for 2020, and $28 million for 2019. Other Employee Benefits FHN provides postretirement life insurance benefits to certain employees and also provides postretirement medical insurance benefits to retirement-eligible employees, including certain prescription drug benefits. The postretirement medical plan is contributory with FHN contributing a fixed amount for certain participants. 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 30 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. The discount rates for the three years ended 2021 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 30 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: Table 8.18.1 ACTUARIAL ASSUMPTIONS FOR DEFINED BENEFIT PLANS Benefit Obligations Net Periodic Benefit Cost 2021 2020 2019 2021 2020 2019 Discount rate Qualified pension 2.95% 2.63% 3.31% 2.64% 3.31% 4.43% Nonqualified pension 2.65% 2.24% 3.08% 2.24% 3.08% 4.26% Other nonqualified pension 1.99% 1.41% 2.57% 1.41% 2.57% 3.83% Postretirement benefits 2.43%-3.07% 1.92% - 2.81% 2.85% - 3.44% 1.93%-2.81% 2.87% - 3.44% 4.04% - 4.56% Expected long-term rate of return Qualified pension/ N/A N/A N/A 2.30% 3.45% 4.80% Postretirement benefit (retirees post January 1, 1993) N/A N/A N/A 5.80% 6.40% 6.85% Postretirement benefit (retirees prior to January 1, 1993) N/A N/A N/A 1.00% 0.90% 0.05% 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, 2021, 2020 and 2019 and interest crediting rates for the respective years were as follows: Table 8.18.2 PROJECTED BENEFIT OBLIGATION & CREDITING RATE (Dollars in millions) 2021 2020 2019 Projected benefit obligation $ 12 $ 15 $ 16 Interest crediting rate 9.07 % 8.20 % 9.66 % The components of net periodic benefit cost for the plan years 2021, 2020 and 2019 were as follows: Table 8.18.3 COMPONENTS OF NET PERIODIC BENEFIT COST (Dollars in millions) Pension Benefits Other Benefits 2021 2020 2019 2021 2020 2019 Components of net periodic benefit cost Interest cost $ 17 $ 24 $ 30 $ 1 $ 1 $ 1 Expected return on plan assets (20) (26) (37) (1) (1) (1) Amortization of unrecognized: Actuarial (gain) loss 10 13 10 — — — Net periodic benefit cost $ 7 $ 11 $ 3 $ — $ — $ — 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 hybrid methodology which recognizes liability-hedging assets at current fair value while return-seeking assets use a calculated value that recognizes changes in fair value 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 2021 and 2020: Table 8.18.4 BENEFIT OBLIGATIONS & PLAN ASSETS (Dollars in millions) Pension Benefits Other Benefits 2021 2020 2021 2020 Change in benefit obligation Benefit obligation, beginning of year $ 893 $ 836 $ 46 $ 42 Interest cost 17 24 1 1 Actuarial (gain) loss (a) (26) 70 (5) 4 Actual benefits paid (39) (37) (1) (1) Benefit obligation, end of year $ 845 $ 893 $ 41 $ 46 Change in plan assets Fair value of plan assets, beginning of year $ 896 $ 826 $ 23 $ 20 Actual return on plan assets (18) 103 3 3 Employer contributions 10 4 1 1 Actual benefits paid – settlement payments (3) (36) (1) (1) Actual benefits paid – other payments (2) (1) — — Premium paid for annuity purchase (b) (34) — — — Fair value of plan assets, end of year $ 849 $ 896 $ 26 $ 23 Funded (unfunded) status of the plans $ 4 $ 3 $ (15) $ (23) Amounts recognized in the Balance Sheets Other assets $ 37 $ 40 $ 23 $ 20 Other liabilities (33) (37) (38) (43) Net asset (liability) at end of year $ 4 $ 3 $ (15) $ (23) (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) 2021 amount represents 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: Table 8.18.5 BENEFIT OBLIGATION - UNFUNDED PLANS Pension Benefits Other Benefits (Dollars in millions) 2021 2020 2021 2020 Projected benefit obligation $ 33 $ 37 $ 38 $ 43 The qualified pension plan was overfunded by $37 million and $41 million as of December 31, 2021 and 2020, respectively. Because of the pension freeze at the end of 2012, as of both December 31, 2021 and 2020, the pension benefit obligation is equivalent to the accumulated benefit obligation. FHN's funded post retirement plan was also in an overfunded status as of December 31, 2021 and 2020. 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, 2021 and 2020 consist of: Table 8.18.6 PRE-TAX ACTUARIAL GAINS (LOSSES) REFLECTED IN AOCI (Dollars in millions) Pension Benefits Other Benefits 2021 2020 2021 2020 Amounts recognized in accumulated other comprehensive income Net actuarial (gain) loss $ 342 $ 342 $ (6) $ 1 The pre-tax amounts recognized in other comprehensive income during 2021, 2020, and 2019 were as follows: Table 8.18.7 PRE-TAX AMOUNTS RECOGNIZED IN OCI (Dollars in millions) Pension Benefits Other Benefits 2021 2020 2019 2021 2020 2019 Changes in plan assets and benefit obligation recognized in other comprehensive income Net actuarial (gain) loss arising during measurement period $ 13 $ (8) $ (14) $ (7) $ 3 $ 5 Items amortized during the measurement period: Net actuarial gain (loss) (10) (13) (10) — — — Total recognized in other comprehensive income $ 3 $ (21) $ (24) $ (7) $ 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% of a plan’s projected benefit obligation as of the beginning of the year or 10% 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: Table 8.18.8 EXPECTED BENEFIT PAYMENTS (Dollars in millions) Pension Other 2022 $ 40 $ 2 2023 42 2 2024 43 2 2025 45 2 2026 46 2 2027-2031 232 11 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, 2021 and 2020, 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, 2021 and 2020, by asset category classified using the Fair Value measurement hierarchy, is shown in the tables below. See Note 24 – Fair Value of Assets and Liabilities for more details about fair value measurements. Tables 8.18.9a-b FAIR VALUE OF PENSION ASSETS (Dollars in millions) December 31, 2021 Level 1 Level 2 Level 3 Total Cash equivalents and money market funds $ 45 $ — $ — $ 45 Fixed income securities: U.S. treasuries — 15 — 15 Corporate, municipal and foreign bonds — 445 — 445 Common and collective funds: Fixed income — 344 — 344 Total $ 45 $ 804 $ — $ 849 (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 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, 2021 and 2020 by asset category are as follows: Tables 8.18.10a-b FAIR VALUE OF RETIREE MEDICAL PLAN ASSETS (Dollars in millions) December 31, 2021 Level 1 Level 2 Level 3 Total Mutual funds: Equity mutual funds $ 17 $ — $ — $ 17 Fixed income mutual funds 9 — — 9 Total $ 26 $ — $ — $ 26 (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

Stock Options, Restricted Stock

Stock Options, Restricted Stock, and Dividend Reinvestment Plans	12 Months Ended
	Dec. 31, 2021
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 one plan which authorizes the grant of new stock-based awards, the 2021 Incentive Plan (the IP). New awards under the IP may be granted to any of FHN's directors, officers, or associates. The IP was approved by shareholders in April 2021. Most awards outstanding at year end were granted under predecessor plans which are no longer active. The IP authorizes a broad range of award types, including restricted shares, stock units, cash units, and stock options. Stock units may be paid in shares or cash, depending upon the terms of the award. The IP also authorizes the grant of stock appreciation rights, though no such grants have been made under the IP or recent predecessor plans. 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 IP 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, 2021, there were 12,329,976 shares available for new awards under the IP. This includes the new/additional shares originally authorized under the IP along with shares underlying ECP awards that have been forfeited or canceled since the IP was approved by shareholders, net of shares underlying IP awards that are outstanding or have been paid. 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 generally begins no earlier than the third anniversary of grant and rarely extends beyond the fifth anniversary of grant. 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 from 2014 to 2020 have a post-vest holding period of two years. PSUs granted after 2020 no longer have the 2-year holding period. 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 2021 or outstanding on December 31, 2021: the 2016 units vested in 2019 and their two year post-vesting holding period ended during 2021, 2017 and 2018 units vested in 2020 and 2021 at the 104.2% and 133.3% payout level, respectively, and remain in a two year post-vesting holding period; the three-year performance period of the 2019 units has ended but performance is measured relative to peers and has not yet been determined; and, the three-year performance periods for the 2020 and 2021 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. Director stock units granted after the IBKC merger no longer have the 2-year holding period. In 2021 and 2020, each director received $122,000 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, 2021, is presented below: Table 8.19.1 RESTRICTED AND PERFORMANCE EQUITY AWARD ACTIVITY Shares/ Weighted average January 1, 2021 8,270,216 $ 12.47 Shares/units granted 4,330,371 13.56 Shares/units vested/distributed (637,689) 12.31 Shares/units canceled (2,666,010) 13.05 December 31, 2021 9,296,888 $ 13.14 (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 2020 and 2019 was $12.47 and $16.25, respectively. On December 31, 2021, there was $73 million of unrecognized compensation cost related to nonvested restricted stock awards. That cost is expected to be recognized over a weighted-average period of two years. The total grant date fair value of shares vested during 2021, 2020 and 2019, was $36 million, $24 million, and $15 million, respectively. Stock option awards In 2021 FHN ended its only remaining stock option program, making only one grant related to a 2020 commitment. Options under that program, for executives, have service-vesting requirements and seven-year terms. In the past, 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 seven 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 years from grant date. IBKC converted options granted subsequent to the merger agreement vest fully no later than the fifth anniversary of the grant date and expire ten years from grant date. The 2016 retention award vests beginning on the fourth anniversary of grant and extends through the sixth anniversary of grant. A deferral program, which was discontinued in 2005, allowed for foregone compensation plus the exercise price to equal the fair market value of the stock on the date of grant if the grantee agreed to receive the options in lieu of compensation. Deferral options still outstanding expire 20 years from the grant date. The summary of stock option activity for the year ended December 31, 2021, is shown below: Table 8.19.2 STOCK OPTION ACTIVITY Options Weighted Weighted Average Aggregate January 1, 2021 7,749,082 $ 15.20 Options granted 155,124 14.44 Options exercised (2,302,642) 11.88 Options expired/canceled (620,635) 22.44 December 31, 2021 4,980,929 $ 15.81 3.99 $ 7 Options exercisable 3,697,062 15.95 3.51 6 Options expected to vest 1,283,867 15.15 4.39 1 The total intrinsic value of options exercised during 2021, 2020 and 2019 was $12 million, $3 million, and $4 million, respectively. On December 31, 2021, there was less than $1 million of unrecognized compensation cost related to nonvested stock options. That cost is expected to be recognized over a weighted-average period of 2.7 years. FHN granted or converted 155,124, 4,182,737 and 530,787 stock options with a weighted average fair value of $3.39, $2.13, and $2.69 per option at grant date in 2021, 2020 and 2019, respectively. FHN used the Black-Scholes Option Pricing Model to estimate the fair value of stock options granted or converted in 2021, 2020, and 2019 with the following assumptions: Table 8.19.3 STOCK OPTION FAIR VALUE ASSUMPTIONS 2021 2020 2019 Expected dividend yield 4.16% 3.77% 3.63% Expected weighted-average lives of options granted 6.29 years 6.25 years 6.24 years Expected weighted-average volatility 38.44% 23.94% 24.76% Expected volatility range 37.86%-39.02% 23.32 - 24.56% 23.07 - 26.45% Risk-free interest rate 0.62% 1.47% 2.53% 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 years and are paid out in cash upon vesting. The 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, 2021, there were 461,142 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 $43 million, $32 million, and $22 million for 2021, 2020, and 2019, respectively. The corresponding total income tax benefits recognized were $10 million in 2021, $8 million in 2020, and $6 million in 2019. 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 IP 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 2022. Dividend reinvestment plan

Business Segment Information

Business Segment Information	12 Months Ended
	Dec. 31, 2021
Segment Reporting, Measurement Disclosures [Abstract]
Business Segment Information	Business Segment Information FHN's operating segments are composed of the following: • Regional Banking segment offers financial products and services, including traditional lending and deposit taking, to consumer and commercial clients primarily in the southern U.S. and other selected markets. Regional Banking also provides investment, wealth management, financial planning, trust and asset management services for consumer clients. • Specialty Banking segment consists of lines of business that deliver product offerings and services with specialized industry knowledge. Specialty Banking’s lines of business include asset-based lending, mortgage warehouse lending, commercial real estate, franchise finance, correspondent banking, equipment finance, mortgage, and title insurance. In addition to traditional lending and deposit taking, Specialty Banking also delivers treasury management solutions, loan syndications, and international banking. Additionally, Specialty Banking has a line of business focused on fixed income securities sales, trading, underwriting, and strategies for institutional clients in the U.S. and abroad, as well as loan sales, portfolio advisory services, and derivative sales. • Corporate segment consists primarily of corporate support functions including risk management, audit, accounting, finance, executive office, and corporate communications. Shared support services such as human resources, properties, technology, credit risk and bank operations are allocated to the activities of Regional Banking, Specialty Banking and Corporate. Additionally, the Corporate segment includes centralized management of capital and funding to support the business activities of the company including management of wholesale funding, liquidity, and capital management and allocation. The Corporate segment also includes the revenue and expense associated with run-off businesses such as pre-2009 mortgage banking elements, run-off consumer and trust preferred loan portfolios, and other exited businesses. Periodically, FHN adapts its segments to reflect managerial or strategic changes. During 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. The closing of the FHN and IBKC merger-of-equals transaction prompted organizational changes to better integrate and execute the combined Company's strategic priorities across all lines of businesses. As a result, segment information for 2020 has been reclassified to conform to the current period presentation. FHN may also modify its methodology of allocating expenses and equity among segments which could change historical segment results. Business segment revenue, expense, asset, and equity levels reflect those which are specifically identifiable or which are allocated based on an internal allocation method. Because the allocations are based on internally developed assignments and allocations, to an extent they are subjective. Generally, all assignments and allocations have been consistently applied for all periods presented. The following tables present financial information for each reportable business segment for the years ended December 31: Tables 8.20.1a-b-c SEGMENT FINANCIAL INFORMATION 2021 (Dollars in millions) Regional Banking Specialty Banking Corporate Consolidated Net interest income (expense) $ 1,764 $ 619 $ (389) $ 1,994 Provision for credit losses (229) (64) (17) (310) Noninterest income 438 597 41 1,076 Noninterest expense (b)(c)(f) 1,151 571 374 2,096 Income (loss) before income taxes 1,280 709 (705) 1,284 Income tax expense (benefit) 298 171 (195) 274 Net income (loss) $ 982 $ 538 $ (510) $ 1,010 Average assets $ 45,445 $ 20,803 $ 21,361 $ 87,609 Depreciation and amortization (71) (2) 101 28 Expenditures for long-lived assets 27 3 7 37 2020 (Dollars in millions) Regional Banking Specialty Banking Corporate Consolidated Net interest income (expense) $ 1,264 $ 572 $ (174) $ 1,662 Provision for credit losses (e) 392 116 (5) 503 Noninterest income (a) 345 576 571 1,492 Noninterest expense (b)(c)(d) 944 494 280 1,718 Income (loss) before income taxes 273 538 122 933 Income tax expense (benefit) 56 131 (111) 76 Net income (loss) $ 217 $ 407 $ 233 $ 857 Average assets $ 32,782 $ 19,822 $ 11,742 $ 64,346 Depreciation and amortization (42) 4 84 46 Expenditures for long-lived assets 283 6 90 379 2019 (Dollars in millions) Regional Banking Specialty Banking Corporate Consolidated Net interest income (expense) $ 833 $ 389 $ (12) $ 1,210 Provision for credit losses 24 37 (16) 45 Noninterest income 293 315 46 654 Noninterest expense (b)(c)(d)(f) 678 347 208 1,233 Income (loss) before income taxes 424 320 (158) 586 Income tax expense (benefit) 97 79 (42) 134 Net income (loss) $ 327 $ 241 $ (116) $ 452 Average assets $ 18,236 $ 15,517 $ 7,991 $ 41,744 Depreciation and amortization 22 14 29 65 Expenditures for long-lived assets 29 4 16 49 (a) 2020 includes a $533 million purchase accounting gain associated with the IBKC merger in the Corporate segment. (b) 2019 includes restructuring-related costs associated with efficiency initiatives; refer to Note 25 - Restructuring, Repositioning, and Efficiency for additional information. 2021, 2020 and 2019 include merger-related expenses; refer to Note 2 - Acquisitions and Divestitures for additional information. (c) 2021 and 2020 includes$37 million and $13 million, respectively, in asset impairments related to IBKC merger integration efforts in the Corporate segment. 2019 includes $25 million of asset impairments associated with acquisition, restructuring, and rebranding initiatives. (d) 2020 and 2019 include $41 million and $11 million, respectively, of contributions to FHN's foundations. (e) Increase in provision for credit losses in 2020 is primarily due to the provision related to non-PCD loans acquired in the IBKC merger and Truist branch acquisition and the economic forecast attributable to the COVID-19 pandemic. (f) 2021 and 2019 include $19 million and $4 million, respectively, in derivative valuation adjustments related to prior sales of Visa Class B shares in the Corporate segment. The following tables reflect a disaggregation of FHN’s noninterest income by major product line and reportable segment for the years ended December 31, 2021, 2020, and 2019: Tables 8.20.2a-b-c NONINTEREST INCOME DETAIL BY SEGMENT December 31, 2021 (Dollars in millions) Regional Banking Specialty Banking Corporate Consolidated Noninterest income: Fixed income (a) $ — $ 406 $ — $ 406 Deposit transactions and cash management 157 12 6 175 Mortgage banking and title income — 152 2 154 Brokerage, management fees and commissions 88 — — 88 Card and digital banking fees 67 3 8 78 Trust services and investment management 51 — — 51 Other service charges and fees 23 17 4 44 Securities gains (losses), net (b) — — 13 13 Purchase accounting gain — — (1) (1) Other income (c) 52 7 9 68 Total noninterest income $ 438 $ 597 $ 41 $ 1,076 December 31, 2020 (Dollars in millions) Regional Banking Specialty Banking Corporate Consolidated Noninterest income: Fixed income (a) $ 1 $ 422 $ — $ 423 Deposit transactions and cash management 131 11 6 148 Mortgage banking and title income — 128 1 129 Brokerage, management fees and commissions 66 — — 66 Card and digital banking fees 50 2 8 60 Trust services and investment management 39 — — 39 Other service charges and fees 18 7 1 26 Securities gains (losses), net (b) — — (6) (6) Purchase accounting gain — — 533 533 Other income (c) 40 6 28 74 Total noninterest income $ 345 $ 576 $ 571 $ 1,492 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 Card and digital banking fees 41 2 6 49 Trust services and investment management 30 — — 30 Other service charges and fees 16 5 — 21 Other income (c) 37 11 30 78 Total noninterest income $ 293 $ 315 $ 46 $ 654 (a) 2021, 2020 and 2019, include $44million , $39 million and $34 million, respectively, of underwriting, portfolio advisory, and other noninterest income in scope of ASC 606, "Revenue From Contracts With Customers." (b) Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile total noninterest income. (c) Includes letter of credit fees and insurance commissions in scope of ASC 606.

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2021
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 FHN has established certain rabbi trusts related to deferred compensation plans offered to its employees. FHN contributes employee cash compensation deferrals to the trusts and directs the underlying investments made by the trusts. The assets of these trusts are available to FHN’s creditors only in the event that FHN becomes insolvent. These trusts are considered VIEs as there is no equity at risk in the trusts since FHN provided the equity interest to its employees in exchange for services rendered. FHN is considered the primary beneficiary of the rabbi trusts as it has the power to direct the activities that most significantly impact the economic performance of the rabbi trusts through its ability to direct the underlying investments made by the trusts. Additionally, FHN could potentially receive benefits or absorb losses that are significant to the trusts due to its right to receive any asset values in excess of liability payoffs and its obligation to fund any liabilities to employees that are in excess of a rabbi trust’s assets. 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, 2021 and 2020: Table 8.21.1 CONSOLIDATED VIEs (Dollars in millions) December 31, 2021 December 31, 2020 Assets: Other assets $ 205 $ 195 Liabilities: Other liabilities $ 179 $ 165 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 that 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 2021, 2020, and 2019. The following table summarizes the impact to income tax expense on the Consolidated Statements of Income for the years ended December 31, 2021, 2020 and 2019 for LIHTC investments accounted for under the proportional amortization method. Table 8.21.2 LIHTC IMPACTS ON TAX EXPENSE (Dollars in millions) 2021 2020 2019 Income tax expense (benefit): Amortization of qualifying LIHTC investments $ 26 $ 23 $ 15 Low income housing tax credits (32) (22) (14) Other tax benefits related to qualifying LIHTC investments (7) (10) (6) 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 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 that 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. The following tables summarize FHN’s nonconsolidated VIEs as of December 31, 2021 and 2020: Table 8.21.3 NONCONSOLIDATED VIEs AT YE 2021 (Dollars in millions) Maximum Liability Classification Type: Low income housing partnerships $ 382 $ 129 (a) Other tax credit investments (b) 77 56 Other assets Small issuer trust preferred holdings (c) 195 — Loans and leases On-balance sheet trust preferred securitization 27 87 (d) Holdings of agency mortgage-backed securities (c) 8,550 — (e) Commercial loan troubled debt restructurings (f) 98 — Loans and leases Proprietary trust preferred issuances (g) — 167 Term borrowings (a) Maximum loss exposure represents $253 million of current investments and $129 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 $87 million classified as term borrowings. (e) Includes $526 million classified as trading securities, $712 million classified as securities held to maturity and $7.3 billion classified as securities available for sale. (f) Maximum loss exposure represents $94 million of current receivables and $4 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. Table 8.21.4 NONCONSOLIDATED VIEs AT YE 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 $845 million 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.

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2021
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, 2021 and 2020, respectively, FHN had $181 million and $280 million of cash receivables and $102 million and $166 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 $360 million, $371 million and $228 million for the years ended December 31, 2021, 2020 and 2019, 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, 2021 and 2020: Table 8.22.1a-b DERIVATIVES ASSOCIATED WITH TRADING December 31, 2021 (Dollars in millions) Notional Assets Liabilities Customer interest rate contracts $ 3,587 $ 84 $ 41 Offsetting upstream interest rate contracts 3,587 4 8 Option contracts purchased 13 — — Forwards and futures purchased 4,430 2 9 Forwards and futures sold 5,044 10 2 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 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 a derivative transaction in a hedging strategy to manage interest rate risk on $500 million of senior debt prior to its maturity in December 2020. This transaction qualified for hedge accounting using the long-haul method. FHN early redeemed 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, 2021 and 2020: Table 8.22.2a-b DERIVATIVES ASSOCIATED WITH INTEREST RATE RISK MANAGEMENT December 31, 2021 (Dollars in millions) Notional Assets Liabilities Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer interest rate contracts $ 8,037 $ 202 $ 29 Offsetting upstream interest rate contracts 8,037 4 15 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 The following table summarizes gains (losses) on FHN’s derivatives associated with interest rate risk management activities for the years ended December 31, 2021, 2020, and 2019: Table 8.22.3 DERIVATIVE GAINS (LOSSES) ASSOCIATED WITH INTEREST RATE RISK MANAGEMENT Year Ended December 31, 2021 2020 2019 (Dollars in millions) Gains (Losses) Gains (Losses) Gains (Losses) Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer interest rate contracts (a) $ (268) $ 357 $ 92 Offsetting upstream interest rate contracts (a) 268 (357) (92) Debt Hedging Hedging Instruments: Interest rate swaps (b) $ — $ 2 $ 13 Hedged Items: Term borrowings (a) (c) — (2) (13) (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 Prior to 2021, FHN had 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 consisted 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, 2021 and 2020: Table 8.22.4a-b DERIVATIVES ASSOCIATED WITH CASH FLOW HEDGES December 31, 2021 (Dollars in millions) Notional Assets Liabilities Cash Flow Hedges Hedging Instruments: Interest rate contracts $ 1,100 $ 13 $ — Hedged Items: Variability in cash flows related to debt instruments (primarily loans) N/A $ 1,100 N/A December 31, 2020 (Dollars in millions) Notional Assets Liabilities Cash Flow Hedges Hedging Instruments: Interest rate contracts $ 1,250 $ 32 $ — Hedged Items: Variability in cash flows related to debt instruments (primarily loans) N/A $ 1,250 N/A The following table summarizes gains (losses) on FHN’s derivatives associated with cash flow hedges for the years ended December 31, 2021, 2020, and 2019: Table 8.22.5 DERIVATIVE GAINS (LOSSES) ASSOCIATED WITH CASH FLOW HEDGES Year Ended December 31, 2021 2020 2019 (Dollars in millions) Gains (Losses) Gains (Losses) Gains (Losses) Cash Flow Hedges Hedging Instruments: Interest rate contracts (a) $ 29 $ 3 $ 21 Gain (loss) recognized in other comprehensive income (loss) (3) 15 11 Gain (loss) reclassified from AOCI into interest income (7) (6) 4 (a) Approximately $15 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. Table 8.22.6a-b DERIVATIVES ASSOCIATED WITH MORTGAGE BANKING HEDGES December 31, 2021 (Dollars in millions) Notional Assets Liabilities Mortgage Banking Hedges Option contracts written $ 241 $ 4 $ — Forward contracts written 404 — — December 31, 2020 (Dollars in millions) Notional Assets Liabilities Mortgage Banking Hedges Option contracts written $ 667 $ 20 $ — Forward contracts written 725 — 6 The following table summarizes gains (losses) on FHN's derivatives associated with mortgage banking activities for the years ended December 31, 2021 and 2020: Table 8.22.7 DERIVATIVE GAINS (LOSSES) ASSOCIATED WITH MORTGAGE BANKING HEDGES Year Ended 2021 2020 (Dollars in millions) Gains (Losses) Gains (Losses) Mortgage Banking Hedges Option contracts written $ 15 $ 15 Forward contracts written 11 (37) In conjunction with pre-2020 sales of Visa Class B shares, FHN 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. As of December 31, 2021 and December 31, 2020, the derivative liabilities associated with the sales of Visa Class B shares were $23 million and $13 million, respectively. For the year ended December 31, 2021, FHN recognized $19 million in derivative valuation adjustments related to prior sales of Visa Class B shares. These derivative adjustments were insignificant for the year ended December 31, 2020. 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, 2021 and 2020, these loans were valued at $7 million and $12 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, 2021 and 2020, the notional values of FHN’s risk participations were $257 million and $233 million of derivative assets and $500 million and $464 million of derivative liabilities, respectively. 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. Assuming all underlying third party customers referenced in the swap contracts defaulted at December 31, 2021 and 2020, the exposure from these agreements would not be material based on the fair value of the underlying swaps. 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, 2021 and 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. Interest rate derivatives with larger financial institutions entered into prior to required central clearing typically contain provisions whereby the collateral posting thresholds under the agreements adjust based on the credit ratings of both counterparties. If the credit rating of FHN and/or First Horizon Bank is lowered, FHN could be required to post additional collateral with the counterparties. Conversely, if the credit rating of FHN and/or First Horizon Bank is increased, FHN could have collateral released and be required to post less collateral in the future. Also, if a counterparty’s credit ratings were to decrease, FHN and/or First Horizon Bank could require the posting of additional collateral; whereas if a counterparty’s credit ratings were to increase, the counterparty could require the release of excess collateral. Collateral for these arrangements is adjusted daily based on changes in the net fair value position with each counterparty. The net fair value, determined by individual counterparty, of all derivative instruments with adjustable collateral posting thresholds was $67 million of assets and $26 million of liabilities on December 31, 2021, and $200 million of assets and $5 million of liabilities on December 31, 2020. As of December 31, 2021 and 2020, FHN had received collateral of $205 million and $320 million and posted collateral of $14 million and $34 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 $74 million of assets and $30 million of liabilities on December 31, 2021, and $216 million of assets and $17 million of liabilities on December 31, 2020. As of December 31, 2021 and 2020, FHN had received collateral of $213 million and $343 million and posted collateral of $18 million and $53 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, 2021 and 2020: Table 8.22.8 DERIVATIVE ASSETS & COLLATERAL RECEIVED Gross amounts not offset in the Balance Sheets (Dollars in millions) Gross amounts Gross amounts Net amounts of Derivative liabilities Collateral Net amount Derivative assets: December 31, 2021 Interest rate derivative contracts $ 311 $ — $ 311 $ (32) $ (181) $ 98 Forward contracts 12 — 12 (4) (3) 5 $ 323 $ — $ 323 $ (36) $ (184) $ 103 December 31, 2020 Interest rate derivative contracts $ 702 $ — $ 702 $ (7) $ (327) $ 368 Forward contracts 63 — 63 (14) (20) 29 $ 765 $ — $ 765 $ (21) $ (347) $ 397 (a) Included in other assets on the Consolidated Balance Sheets. As of December 31, 2021 and 2020, $2 million and $4 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, 2021 and 2020: Table 8.22.9 DERIVATIVE LIABILITIES & COLLATERAL PLEDGED Gross amounts not offset in the Balance Sheets (Dollars in millions) Gross amounts Gross Net amounts of Derivative assets Collateral Net amount Derivative liabilities: December 31, 2021 Interest rate derivative contracts $ 93 $ — $ 93 $ (32) $ (38) $ 23 Forward contracts 10 — 10 (4) (1) 5 $ 103 $ — $ 103 $ (36) $ (39) $ 28 December 31, 2020 Interest rate derivative contracts $ 60 $ — $ 60 $ (7) $ (31) $ 22 Forward contracts 65 — 65 (14) (51) — $ 125 $ — $ 125 $ (21) $ (82) $ 22 (a) Included in other liabilities on the Consolidated Balance Sheets. As of December 31, 2021 and 2020, $24 million and $22 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, 2021
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, 2021 and 2020: Table 8.23.1 SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL 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: 2021 $ 488 $ — $ 488 $ (10) $ (476) $ 2 2020 380 — 380 — (379) 1 The following table provides details of securities sold under agreements to repurchase and collateral pledged by FHN as of December 31, 2021 and 2020: Table 8.23.2 SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Gross amounts not offset in the (Dollars in millions) Gross amounts Gross amounts Net amounts of Offsetting securities Securities/ Net amount Securities sold under agreements to repurchase: 2021 $ 1,247 $ — $ 1,247 $ (10) $ (1,237) $ — 2020 1,187 — 1,187 — (1,187) — 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, 2021 and 2020: Tables 8.23.3a-b MATURITIES OF SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE December 31, 2021 (Dollars in millions) Overnight and Up to 30 Days Total Securities sold under agreements to repurchase: U.S. treasuries $ 33 $ — $ 33 Government agency issued MBS 1,068 — 1,068 Other U.S. government agencies 31 — 31 Government guaranteed loans (SBA and USDA) 115 — 115 Total securities sold under agreements to repurchase $ 1,247 $ — $ 1,247 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

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	12 Months Ended
	Dec. 31, 2021
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, 2021 and 2020: Tables 8.24.1a-b BALANCES OF ASSETS & LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS December 31, 2021 (Dollars in millions) Level 1 Level 2 Level 3 Total Trading securities: U.S. treasuries $ — $ 85 $ — $ 85 Government agency issued MBS — 464 — 464 Government agency issued CMO — 62 — 62 Other U.S. government agencies — 276 — 276 States and municipalities — 34 — 34 Corporate and other debt — 642 — 642 Interest-only strips (elected fair value) — — 38 38 Total trading securities — 1,563 38 1,601 Loans held for sale (elected fair value) — 230 28 258 Securities available for sale: Government agency issued MBS — 5,055 — 5,055 Government agency issued CMO — 2,257 — 2,257 Other U.S. government agencies — 850 — 850 States and municipalities — 545 — 545 Total securities available for sale — 8,707 — 8,707 Other assets: Deferred compensation mutual funds 125 — — 125 Equity, mutual funds, and other 25 — — 25 Derivatives, forwards and futures 12 — — 12 Derivatives, interest rate contracts — 311 — 311 Derivatives, other — 1 — 1 Total other assets 162 312 — 474 Total assets $ 162 $ 10,812 $ 66 $ 11,040 Trading liabilities: U.S. treasuries $ — $ 334 $ — $ 334 Government issued agency MBS — 1 — 1 Corporate and other debt — 91 — 91 Total trading liabilities — 426 — 426 Other liabilities: Derivatives, forwards and futures 11 — — 11 Derivatives, interest rate contracts — 93 — 93 Derivatives, other — 1 23 24 Total other liabilities 11 94 23 128 Total liabilities $ 11 $ 520 $ 23 $ 554 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 agency issued 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 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, 2021, 2020 and 2019 on a recurring basis are summarized as follows: Tables 8.24.2a-b-c CHANGES IN LEVEL 3 ASSETS & LIABILITIES MEASURED AT FAIR VALUE Year Ended December 31, 2021 (Dollars in millions) Interest-only strips Loans held for sale Loans held for investment Net derivative Balance on January 1, 2021 $ 32 $ 12 $ 16 $ (14) Total net gains (losses) included in net income 3 1 — (19) Purchases — 10 — — Sales (68) (18) — — Settlements — (3) (2) 10 Net transfers into (out of) Level 3 71 (b) 26 (e) (14) (e) — Balance on December 31, 2021 $ 38 $ 28 $ — $ (23) Net unrealized gains (losses) included in net income $ (2) (c) $ 1 (a) $ — $ (19) (d) 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) (a) Primarily included in mortgage banking and title income on the Consolidated Statements of Income. (b) Transfers into interest-only strips level 3 measured on a recurring basis reflect movements from loans held for sale (Level 2 nonrecurring). (c) Primarily included in fixed income on the Consolidated Statements of Income. (d) Included in other expense. (e) The loans held for investment at fair value option portfolio was transferred to the loans held for sale portfolio on April 1, 2021. There were no net unrealized gains (losses) for Level 3 assets and liabilities included in other comprehensive income as of December 31, 2021, 2020 and 2019. 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, 2021, 2020 and 2019, respectively, the following tables provide the level of valuation assumptions used to determine each adjustment and the related carrying value. Tables 8.24.3a-b-c LEVEL OF VALUATION ASSUMPTIONS FOR ASSETS MEASURED AT FAIR VALUE ON A NON-RECURRING BASIS Carrying value at December 31, 2021 Year Ended December 31, 2021 (Dollars in millions) Level 1 Level 2 Level 3 Total Net gains (losses) Loans held for sale—SBAs and USDA $ — $ 852 $ 1 $ 853 $ (2) Loans held for sale—first mortgages — — 1 1 — Loans and leases (a) — — 84 84 (13) OREO (b) — — 3 3 (1) Other assets (c) — — 30 30 (2) $ (18) 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) (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 2021, FHN recognized $34 million of fixed asset impairments and $3 million of leased asset impairments. In 2020, FHN recognized $7 million of fixed asset impairments and $6 million of leased asset impairments. These impairments were primarily related to continuing acquisition integration efforts associated with reduction of leased office space and banking center optimization. These amounts were primarily recognized in the Corporate segment. In 2019, FHN recognized $4 million of impairments related to dispositions of acquired properties and $1 million of leased asset impairments related to continuing acquisition integration efforts associated with reduction of leased office space and banking center optimization. Related to its restructuring, repositioning, and efficiency efforts, FHN recognized $13 million of impairments 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. These amounts were primarily recognized in the Corporate segment. Lease asset impairments recognized 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, 2021 and 2020: Tables 8.24.4a-b UNOBSERVABLE INPUTS USED IN LEVEL 3 FAIR VALUE MEASUREMENTS (Dollars in millions) Values Utilized Level 3 Class Fair Value at December 31, 2021 Valuation Techniques Unobservable Input Range Weighted Average (d) Trading securities - SBA interest-only strips $ 38 Discounted cash flow Constant prepayment rate 11%-12% 11% Bond equivalent yield 11% - 14% 11% Loans held for sale - residential real estate $ 29 Discounted cash flow Prepayment speeds - First mortgage 4% - 12% 5% Foreclosure losses 54% - 66% 65% Loss severity trends - First mortgage 1% - 14% of UPB 8% Loans held for sale - unguaranteed interest in SBA loans $ 1 Discounted cash flow Constant prepayment rate 8% - 12% 10% Bond equivalent yield 11% 11% Derivative liabilities, other $ 23 Discounted cash flow Visa covered litigation resolution amount $5.8 billion - $6.2 billion $6.0 billion Probability of resolution scenarios 15% - 35% 24% Time until resolution 12 - 36 months 25 months Loans and leases (a) $ 84 Appraisals from comparable 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) $ 3 Appraisals from comparable properties Adjustment for value changes since appraisal 0% - 10% of appraisal NM Other assets (c) $ 30 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, 2020 Valuation Techniques Unobservable Input Range Weighted Average (d) 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. Trading Securities - SBA interest-only strips 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. SBA interest-only strips were transferred from AFS to trading securities on October 1, 2021. 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 pre-2020 sales of 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 had a portion of mortgage loans held for investment for which the fair value option was elected upon origination and which were accounted for at fair value. This portion of mortgage loans held for investment at fair value option was transferred to the loans held for sale portfolio on April 1, 2021. 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. Tables 8.24.5a-b DIFFERENCES BETWEEN FAIR VALUE CARRYING AMOUNTS AND CONTRACTUAL AMOUNTS OF RESIDENTIAL REAL ESTATE LOANS December 31, 2021 (Dollars in millions) Fair value Aggregate Fair value carrying amount Residential real estate loans held for sale reported at fair value: Total loans $ 258 $ 264 $ (6) Nonaccrual loans 4 7 (3) 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 — 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: Table 8.24.6 CHANGES IN FAIR VALUE RECOGNIZED IN NET INCOME Year Ended December 31, (Dollars in millions) 2021 2020 2019 Changes in fair value included in net income: Mortgage banking and title noninterest income Loans held for sale $ (10) $ 4 $ 2 For the years ended December 31, 2021, 2020 and 2019, 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 trading 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. Trading securities - SBA interest-only strips 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. SBA interest- only strips were transferred from AFS to trading on October 1, 2021. Securities available for sale and held to maturity Valuations of debt 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. 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

Restructuring, Repositioning, a

Restructuring, Repositioning, and Efficiency	12 Months Ended
	Dec. 31, 2021
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 2021 and 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: Table 8.25.1 RESTRUCTURING, REPOSITIONING, & EFFICIENCY EXPENSES (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, 2021
Condensed Financial Information Disclosure [Abstract]
Parent Company Financial Information	Parent Company Financial Information Following are statements of the parent company: Parent Company Balance Sheets Balance Sheets December 31, (Dollars in millions) 2021 2020 Assets: Cash $ 724 $ 827 Notes receivable 3 3 Investments in subsidiaries: Bank 8,381 8,176 Non-bank 65 88 Other assets 291 274 Total assets $ 9,464 $ 9,368 Liabilities and equity: Accrued employee benefits and other liabilities $ 321 $ 322 Term borrowings 944 1,034 Total liabilities 1,265 1,356 Total equity 8,199 8,012 Total liabilities and equity $ 9,464 $ 9,368 Parent Company Statements of Income Year Ended December 31, (Dollars in millions) 2021 2020 2019 Dividend income: Bank $ 770 $ 180 $ 345 Non-bank — — 1 Total dividend income 770 180 346 Other income (loss) (26) — 1 Total income 744 180 347 Provision (provision credit) for credit losses — — (1) Interest expense - term borrowings 31 39 31 Personnel and other expense 89 54 53 Total expense 120 93 83 Income before income taxes 624 87 264 Income tax benefit (35) (18) (19) Income before equity in undistributed net income of subsidiaries 659 105 283 Equity in undistributed net income (loss) of subsidiaries: Bank 332 736 160 Non-bank 8 4 (2) Net income attributable to the controlling interest $ 999 $ 845 $ 441 Parent Company Statements of Cash Flows (Dollars in millions) 2021 2020 2019 Operating activities: Net income $ 999 $ 845 $ 441 Less undistributed net income of subsidiaries 340 740 158 Income before undistributed net income of subsidiaries 659 105 283 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 8 5 4 Stock-based compensation expense 43 32 22 Loss on extinguishment of debt 26 — — Other operating activities, net (11) 21 28 Total adjustments 66 62 53 Net cash provided by operating activities 725 167 336 Investing activities: Proceeds from sales and prepayments of securities 3 — 1 Purchases of securities (10) (5) — (Investment in) return on subsidiary 8 (2) — Cash received for business combination, net — 103 — Net cash provided by (used in) investing activities 1 96 1 Financing activities: Proceeds from issuance of preferred stock 145 144 — Call of preferred stock (100) — — Cash dividends paid - preferred stock (33) (17) (6) Common stock: Stock options exercised 28 7 9 Cash dividends paid (333) (222) (171) Repurchase of shares (416) (4) (134) Proceeds from issuance of term borrowings — 795 — Repayment of term borrowings (120) (500) — Other financing activities, net — (8) — Net cash provided by (used in) financing activities (829) 195 (302) Net increase (decrease) in cash and cash equivalents (103) 458 35 Cash and cash equivalents at beginning of year 827 369 334 Cash and cash equivalents at end of year $ 724 $ 827 $ 369 Total interest paid $ 35 $ 33 $ 29 Income taxes received from subsidiaries 28 33 43

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events 2022 Merger Agreement with Toronto-Dominion Bank On February 27, 2022, FHN entered into an Agreement and Plan of Merger (the “TD Merger Agreement”) with The Toronto-Dominion Bank, a Canadian chartered bank (“TD”), TD Bank US Holding Company, a Delaware corporation and indirect, wholly owned subsidiary of TD (“TD-US”), and Falcon Holdings Acquisition Co., a Delaware corporation and wholly owned subsidiary of TD-US (“Merger Sub”). Pursuant to the TD Merger Agreement, FHN and Merger Sub will merge (the “First Holding Company Merger”), with FHN continuing as the surviving entity in the merger. Following the First Holding Company Merger, at the election of TD, FHN and TD-US will merge (the “Second Holding Company Merger” and, together with the First Holding Company Merger, the “Holding Company Mergers”), with TD-US continuing as the surviving entity in the merger. Upon the terms and subject to the conditions set forth in the TD Merger Agreement, each share of FHN common stock, par value $0.625 per share, (“Company Common Stock”), issued and outstanding immediately prior to the effective time of the First Holding Company Merger (the “First Effective Time”) will be converted into the right to receive $25.00 (USD) per share in cash, without interest. If the transaction does not close on or before November 27, 2022, shareholders will receive an additional $0.65 per share of Company Common Stock on an annualized basis (or approximately 5.4 cents per month) for the period from November 28, 2022 through the day immediately prior to the closing. Each outstanding share of FHN’s preferred stock, series B, C, D, E and F, will remain issued outstanding in connection with the First Holding Company Merger. If TD elects to effect the Second Holding Company Merger, at the effective time of the Second Holding Company Merger, each outstanding share of FHN’s preferred stock will be converted into a share of a newly created, corresponding series of TD-US having terms as described in the Merger Agreement. Following the completion of the First Holding Company Merger, at such time as determined by TD, First Horizon Bank and TD Bank, N.A., a national banking association (“TDBNA”) will merge, with TDBNA surviving as a subsidiary of TD-US (the “Bank Merger” and together with the Holding Company Mergers, the “Proposed TD Merger”). In connection with the execution of the TD Merger Agreement, TD has agreed to purchase from FHN shares of non-voting Perpetual Convertible Preferred Stock, Series G, a new series of preferred stock of FHN (the “Series G Convertible Preferred Stock”) in a private placement transaction having an aggregate liquidation preference and purchase price of approximately $493.5 million, pursuant to a securities purchase agreement between FHN and TD entered into concurrently with the execution and delivery of the TD Merger Agreement. The Series G Convertible Preferred Stock is convertible into up to 4.9% of the outstanding shares of Company Common Stock in certain circumstances, including the closing of the Proposed TD Merger. Merger and integration expenses related to the Proposed TD Merger will be recorded in FHN’s Corporate segment. No such expenses were recognized during 2021.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
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.
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 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. Card and Digital Banking Fees Card and digital banking fees include 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, 2021, accounts receivable related to products and services on non-interest income were $12 million. For the year ended December 31, 2021, 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, 2021. 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, 2021, 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 were classified in securities AFS and valued at elected fair value in periods prior to October 1, 2021 at which time they were transferred to trading securities. 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. 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 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 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 debt securities is included within other assets in the Consolidated Balance Sheet. 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 2021. 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. • Fair Value Option Election. These loans consist of originated fixed rate single-family residential mortgage loans that are 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	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. Loan commitment fees are generally deferred and amortized on a straight-line basis over the commitment period. Equipment financing leases to commercial clients 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 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 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.
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. Consumer loans are generally placed into nonaccrual status no later than 90 days past due. • The accrual status policy for commercial TDRs follows the same internal policies and procedures as other commercial portfolio loans. • Residential real estate loans discharged through Chapter 7 bankruptcy and not reaffirmed by the borrower (“discharged bankruptcies”) are placed on nonaccrual and are reported as TDRs. They are not returned to accrual status even if current and performing in the future. • Current second lien residential real estate loans that are junior to first liens are placed on nonaccrual status if in bankruptcy. • 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. When commercial and consumer loans within each portfolio segment and class are placed on nonaccrual status, accrued but uncollected interest is reversed and charged against interest income. 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 segment, 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.
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. 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. 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 methodologies 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". ASC 326-20 was adopted on January 1, 2020 and for periods prior to that 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 probably 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 purchased credit impaired 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. Subsequent to December 31, 2019, 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.
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
Other Real Estate Owned	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. 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 constrain the transferee and provide more than a trivial benefit to FHN, and 3) FHN does not maintain effective control over the transferred assets. If the transfer does not satisfy all three criteria, the transaction is recorded as a secured borrowing. If the transfer is accounted for as a sale, the transferred assets are derecognized from FHN’s balance sheet and a gain or loss on sale is recognized. If the transfer is accounted for as a secured borrowing, the transferred assets remain on FHN’s balance sheet and the proceeds from the transaction are recognized as a liability.
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 net occupancy expense in the Consolidated Statements of Income.
Investment Tax Credit	Investment Tax Credit 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. 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. 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 cash 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,
Business Combinations	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. Business combinations are included in the financial statements from the respective dates of acquisition. Adjustments recorded during the measurement period are recognized in the current reporting period.
Accounting Changes With Extended Transition Periods	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 identified contracts affected by reference rate reform and developed modification plans for those contracts. FHN has elected to utilize the optional expedients and exceptions provided by ASU 2020-04 for certain contract modifications that have already been implemented. FHN anticipates that it will continue to utilize the expedients and exceptions for future modifications in situations where they mitigate potential accounting outcomes that do not faithfully represent management’s intent or risk management activities, consistent with the purpose of the standard. The FASB has voted to approve an extension of the transition window for ASU 2020-04 until December 31, 2024, consistent with key USD LIBOR tenors continuing to be published through June 30, 2023. 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 FHN's centrally cleared derivatives were affected by the change in discounting convention and because FHN 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 reported financial condition or results of operations.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following schedule details the 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. Table 8.2.1 MERGER CONSIDERATION ALLOCATIONS (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 618 Total liabilities assumed $ 30,259 Net assets acquired $ 3,033 Consideration paid: Consideration for outstanding common stock $ 2,243 Consideration for equity awards 28 Consideration for preferred stock 231 Total consideration paid $ 2,502 Purchase accounting gain $ (531) (a) Includes $1.3 billion of initial net investments in sales-type and direct financing leases.
Schedule of Merger And Integration Expense	Total merger and integration expense recognized for the years ended December 31, 2021 and 2020 are presented in the following table: Table 8.2.2 MERGER & INTEGRATION EXPENSE (Dollars in millions) 2021 2020 Personnel expense (a) $ 56 $ 66 Impairment of long-lived assets 34 6 Legal and professional fees (b) 21 39 Contract employment and outsourcing 12 1 Advertising and public relations 10 — Contribution expense (c) — 20 Other expense (d) 54 23 Total $ 187 $ 155 (a) Primarily comprised of fees for severance and retention. (b) Primarily comprised of fees for legal, accounting, and merger consultants. (c) Comprised of contribution expense related to the establishment of the Louisiana First Horizon Foundation.

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2021
Marketable Securities [Abstract]
Schedule of FHN's Investment Securities	The following tables summarize FHN’s investment securities as of December 31, 2021 and 2020: Table 8.3.1a INVESTMENT SECURITIES AT YE 2021 December 31, 2021 (Dollars in millions) Amortized Gross Gross Fair Securities available for sale: Government agency issued MBS $ 5,062 $ 42 $ (49) $ 5,055 Government agency issued CMO 2,296 8 (47) 2,257 Other U.S. government agencies 861 4 (15) 850 States and municipalities 535 11 (1) 545 Total securities available for sale (a) $ 8,754 $ 65 $ (112) $ 8,707 Securities held to maturity: Government agency issued MBS $ 509 $ — $ (5) $ 504 Government agency issued CMO 203 — (2) 201 Total securities held to maturity $ 712 $ — $ (7) $ 705 (a) Includes $6.5 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. Table 8.3.1b INVESTMENT SECURITIES AT YE 2020 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 Securities held to maturity: Corporate and other debt $ 10 $ — $ — $ 10 Total securities held to maturity $ 10 $ — $ — $ 10 (a) SBA interest-only strips were 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.
Schedule of Amortized Cost And Fair Value By Contractual Maturity	The amortized cost and fair value by contractual maturity for the debt securities portfolio as of December 31, 2021 is provided below: Table 8.3.2 DEBT SECURITIES PORTFOLIO MATURITIES Held to Maturity Available for Sale (Dollars in millions) Amortized Fair Amortized Fair Within 1 year $ — $ — $ 17 $ 18 After 1 year through 5 years — — 149 149 After 5 years through 10 years — — 351 349 After 10 years — — 879 879 Subtotal — — 1,396 1,395 Government agency issued MBS and CMO (a) 712 705 7,358 7,312 Total $ 712 $ 705 $ 8,754 $ 8,707 (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, 2021 and 2020: Table 8.3.3a AFS INVESTMENT SECURITIES WITH UNREALIZED LOSSES AT YE 2021 As of December 31, 2021 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 $ 2,973 $ (41) $ 184 $ (8) $ 3,157 $ (49) Government agency issued CMO 1,436 (37) 248 (10) 1,684 (47) Other U.S. government agencies 459 (11) 90 (4) 549 (15) States and municipalities 68 (1) — — 68 (1) Total $ 4,936 $ (90) $ 522 $ (22) $ 5,458 $ (112) Table 8.3.3b AFS INVESTMENT SECURITIES WITH UNREALIZED LOSSES AT YE 2020 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)

Loans and Leases (Tables)

Loans and Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Schedule of Loans and Leases by Portfolio Segment	The following table provides the amortized cost basis of loans and leases by portfolio segment and class as of December 31, 2021 and 2020, excluding accrued interest of $134 million and $180 million, respectively, which is included in other assets in the Consolidated Balance Sheets. Table 8.4.1 LOANS AND LEASES BY PORTFOLIO SEGMENT December 31, (Dollars in millions) 2021 2020 Commercial: Commercial and industrial (a) (b) $ 26,550 $ 27,700 Loans to mortgage companies 4,518 5,404 Total commercial, financial, and industrial 31,068 33,104 Commercial real estate 12,109 12,275 Consumer: HELOC 1,964 2,420 Real estate installment loans 8,808 9,305 Total consumer real estate 10,772 11,725 Credit card and other 910 1,128 Loans and leases $ 54,859 $ 58,232 Allowance for loan and lease losses (670) (963) Net loans and leases $ 54,189 $ 57,269 (a) Includes equipment financing leases of $792 million and $587 million, respectively, as of December 31, 2021 and 2020. (b) Includes PPP loans fully guaranteed by the SBA of $1.0 billion and $4.1 billion as of December 31, 2021 and 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, 2021 and 2020: Table 8.4.2a C&I PORTFOLIO AT YE 2021 December 31, 2021 (Dollars in millions) 2021 2020 2019 2018 2017 Prior to 2017 LMC (a) Revolving Revolving Total Credit Quality Indicator: Pass (PD grades 1 through 12) (c) $ 7,372 $ 3,576 $ 3,439 $ 1,455 $ 1,193 $ 2,267 $ 4,518 $ 6,386 $ 13 $ 30,219 Special Mention (PD grade 13) 25 39 50 48 36 43 — 100 4 345 Substandard, Doubtful, or Loss (PD grades 14,15, and 16) 24 61 67 103 24 48 — 129 48 504 Total C&I $ 7,421 $ 3,676 $ 3,556 $ 1,606 $ 1,253 $ 2,358 $ 4,518 $ 6,615 $ 65 $ 31,068 (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) C&I loans converted from revolving to term in 2021 were not material. (c) Includes PPP loans. Table 8.4.2b C&I PORTFOLIO AT YE 2020 December 31, 2020 (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) $ 9,060 $ 5,138 $ 2,628 $ 1,748 $ 1,161 $ 2,145 $ 5,404 $ 4,571 $ 60 $ 31,915 Special Mention (PD grade 13) 89 93 70 31 37 64 — 127 1 512 Substandard, Doubtful, or Loss (PD grades 14,15, and 16) 182 77 114 50 42 58 — 95 59 677 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) Includes PPP loans. Table 8.4.2c CRE PORTFOLIO AT YE 2021 December 31, 2021 (Dollars in millions) 2021 2020 2019 2018 2017 Prior to 2017 Revolving Revolving Total Credit Quality Indicator: Pass (PD grades 1 through 12) $ 3,441 $ 2,065 $ 2,514 $ 929 $ 691 $ 1,822 $ 204 $ — $ 11,666 Special Mention (PD grade 13) 4 26 52 125 20 65 — — 292 Substandard, Doubtful, or Loss (PD grades 14,15, and 16) 47 — 24 3 33 32 12 — 151 Total CRE $ 3,492 $ 2,091 $ 2,590 $ 1,057 $ 744 $ 1,919 $ 216 $ — $ 12,109 Table 8.4.2d CRE PORTFOLIO AT YE 2020 December 31, 2020 (Dollars in millions) 2020 2019 2018 2017 2016 Prior to 2016 Revolving Revolving Total Credit Quality Indicator: Pass (PD grades 1 through 12) $ 2,477 $ 3,311 $ 1,750 $ 1,140 $ 946 $ 1,800 $ 259 $ 19 $ 11,702 Special Mention (PD grade 13) 48 24 117 75 71 54 — — 389 Substandard, Doubtful, or Loss (PD grades 14,15, and 16) 30 13 21 42 27 33 18 — 184 Total CRE $ 2,555 $ 3,348 $ 1,888 $ 1,257 $ 1,044 $ 1,887 $ 277 $ 19 $ 12,275 Table 8.4.3a CONSUMER REAL ESTATE PORTFOLIO AT YE 2021 December 31, 2021 (Dollars in millions) 2021 2020 2019 2018 2017 Prior to 2017 Revolving loans Revolving Loans converted to term loans (a) Total FICO score 740 or greater $ 1,594 $ 1,156 $ 825 $ 473 $ 394 $ 1,335 $ 1,086 $ 115 $ 6,978 FICO score 720-739 236 171 109 61 44 209 162 21 1,013 FICO score 700-719 143 112 81 68 45 153 141 23 766 FICO score 660-699 164 131 120 106 44 246 204 44 1,059 FICO score 620-659 42 36 55 23 13 118 66 27 380 FICO score less than 620 26 84 42 32 45 272 42 33 576 Total $ 2,205 $ 1,690 $ 1,232 $ 763 $ 585 $ 2,333 $ 1,701 $ 263 $ 10,772 (a) $43 million of HELOC loans were converted from revolving to term in 2021. Table 8.4.3b CONSUMER REAL ESTATE PORTFOLIO AT YE 2020 December 31, 2020 (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 tables reflect the amortized cost basis by year of origination and refreshed FICO scores for credit card and other loans as of December 31, 2021 and 2020. Table 8.4.4a CREDIT CARD & OTHER PORTFOLIO AT YE 2021 December 31, 2021 (Dollars in millions) 2021 2020 2019 2018 2017 Prior to 2017 Revolving loans Revolving Loans converted to term loans Total FICO score 740 or greater $ 56 $ 35 $ 29 $ 23 $ 13 $ 56 $ 200 $ 11 $ 423 FICO score 720-739 14 5 4 3 4 17 46 3 96 FICO score 700-719 8 5 4 4 3 17 42 1 84 FICO score 660-699 25 6 5 6 4 31 98 2 177 FICO score 620-659 4 3 2 4 3 18 22 1 57 FICO score less than 620 24 3 3 4 4 16 18 1 73 Total $ 131 $ 57 $ 47 $ 44 $ 31 $ 155 $ 426 $ 19 $ 910 (a) $9 million of other consumer loans were converted from revolving to term in 2021. Table 8.4.4b CREDIT CARD & OTHER PORTFOLIO AT YE 2020 December 31, 2020 (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
Accruing and Non-Accruing Loans by Class	The following tables reflect accruing and non-accruing loans and leases by class on December 31, 2021 and 2020: Table 8.4.5a ACCRUING & NON-ACCRUING LOANS & LEASES AT YE 2021 December 31, 2021 Accruing Non-Accruing (Dollars in millions) Current 30-89 90+ Total Current 30-89 90+ Total Total Commercial, financial, and industrial: C&I (a) $ 26,367 $ 53 $ 5 $ 26,425 $ 97 $ 1 $ 27 $ 125 $ 26,550 Loans to mortgage companies 4,518 — — 4,518 — — — — 4,518 Total commercial, financial, and industrial 30,885 53 5 30,943 97 1 27 125 31,068 Commercial real estate: CRE (b) 12,087 13 — 12,100 6 1 2 9 12,109 Consumer real estate: HELOC (c) 1,906 7 6 1,919 34 2 9 45 1,964 Real estate installment loans (d) 8,658 30 27 8,715 44 3 46 93 8,808 Total consumer real estate 10,564 37 33 10,634 78 5 55 138 10,772 Credit card and other: Credit card 292 2 2 296 — — — — 296 Other 608 3 — 611 1 — 2 3 614 Total credit card and other 900 5 2 907 1 — 2 3 910 Total loans and leases $ 54,436 $ 108 $ 40 $ 54,584 $ 182 $ 7 $ 86 $ 275 $ 54,859 (a) $99 million of C&I loans are nonaccrual loans that have been specifically reviewed for impairment with no related allowance. (b) $5 million of CRE loans are nonaccrual loans that have been specifically reviewed for impairment with no related allowance. (c) $7 million of HELOC loans are nonaccrual loans that have been specifically reviewed for impairment with no related allowance. (d) $50 million of real estate installment loans are nonaccrual loans that have been specifically reviewed for impairment with no related allowance. Table 8.4.5b ACCRUING & NON-ACCRUING LOANS & LEASES AT YE 2020 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) $ 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 (b) 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 Real estate 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.
Schedule of Troubled Debt Restructurings Occurring During the Year	The following table presents the end of period balance for loans modified in a TDR during the years ended December 31, 2021 and 2020: Table 8.4.6 LOANS MODIFIED IN A TDR 2021 2020 (Dollars in millions) Number Pre-Modification Post-Modification Number Pre-Modification Post-Modification C&I 32 $ 37 $ 34 112 $ 195 $ 188 CRE 1 12 10 19 15 15 HELOC 25 3 3 64 5 5 Real estate installment loans 87 14 14 117 20 19 Credit card and other 51 — — 56 1 1 Total TDRs 196 $ 66 $ 61 368 $ 236 $ 228 The following table presents TDRs which re-defaulted during 2021 and 2020, 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. Table 8.4.7 LOANS MODIFIED IN A TDR THAT RE-DEFAULTED 2021 2020 (Dollars in millions) Number Recorded Number Recorded C&I 18 $ 5 9 $ 1 CRE 6 19 — — HELOC 1 — 8 — Real estate installment loans 9 5 18 1 Credit card and other 4 — 24 — Total TDRs 38 $ 29 59 $ 2

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021, 2020 and 2019: Table 8.5.1 ROLLFORWARD OF ALLL & RESERVE FOR UNFUNDED LENDING COMMITMENTS (Dollars in millions) Commercial, Financial, and Industrial (a) Commercial Consumer Credit Card Total Allowance for loan and lease losses: Balance as of January 1, 2021 $ 453 $ 242 $ 242 $ 26 $ 963 Charge-offs (34) (5) (5) (15) (59) Recoveries 21 5 27 4 57 Provision for loan and lease losses (106) (88) (101) 4 (291) Balance as of December 31, 2021 334 154 163 19 670 Reserve for remaining unfunded commitments: Balance as of January 1, 2021 65 10 10 — 85 Provision for unfunded lending commitments (19) 2 (2) — (19) Balance as of December 31, 2021 46 12 8 — 66 Allowance for credit losses as of December 31, 2021 $ 380 $ 166 $ 171 $ 19 $ 736 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 remaining unfunded 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 credit losses as of December 31, 2020 $ 518 $ 252 $ 252 $ 26 $ 1,048 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 for loan losses 51 5 (21) 12 47 Balance as of December 31, 2019 123 36 28 13 200 Reserve for remaining unfunded commitments: Balance as of January 1, 2019 4 3 — — 7 Provision for unfunded lending commitments — (1) — — (1) Balance as of December 31, 2019 4 2 — — 6 Allowance for credit losses as of December 31, 2019 $ 127 $ 38 $ 28 $ 13 $ 206 ( a) C&I loans as of December 31, 2021 and 2020 include $1.0 billion and $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 allowance for loan and lease losses. (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 ASC 326, 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, 2021
Property, Plant and Equipment [Abstract]
Summary of Premises and Equipment	Premises and equipment were comprised of the following at December 31, 2021 and 2020: Table 8.6.1 PREMISES & EQUIPMENT (Dollars in millions) December 31, 2021 December 31, 2020 Land $ 163 $ 182 Buildings 543 594 Leasehold improvements 74 73 Furniture, fixtures, and equipment 276 269 Fixed assets held for sale (a) 16 18 Total premises and equipment 1,072 1,136 Less accumulated depreciation and amortization (407) (377) Premises and equipment, net $ 665 $ 759 (a) Primarily comprised of land and buildings.
Summary of Lease Assets and Liabilities	The following table provides details of the classification of FHN's right-of-use assets and lease liabilities included in the Consolidated Balance Sheets. Table 8.6.2 RIGHT-OF-USE ASSETS & LEASE LIABILITIES (Dollars in millions) December 31, 2021 December 31, 2020 Lease right-of-use assets: Classification Operating lease right-of-use assets Other assets $ 345 $ 367 Finance lease right-of-use assets Other assets 3 4 Total lease right-of-use assets $ 348 $ 371 Lease liabilities: Operating lease liabilities Other liabilities $ 382 $ 407 Finance lease liabilities Other liabilities 4 4 Total lease liabilities $ 386 $ 411
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, 2021 and 2020. Table 8.6.3 REMAINING LEASE TERMS & DISCOUNT RATES December 31, 2021 December 31, 2020 Weighted Average Remaining Lease Terms Operating leases 12.37 years 12.49 years Finance leases 10.61 years 11.45 years Weighted Average Discount Rate Operating leases 2.35 % 2.39 % Finance leases 2.85 % 3.05 % The following table provides a detail of the components of lease expense and other lease information for the years ended December 31, 2021, 2020, and 2019: Table 8.6.4 LEASE EXPENSE & OTHER INFORMATION (Dollars in millions) 2021 2020 2019 Lease cost Operating lease cost $ 48 $ 39 $ 25 Sublease income (1) (1) — Total lease cost $ 47 $ 38 $ 25 Other information (Gain) loss on right-of-use asset impairment - operating leases $ 3 $ 6 $ 3 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 53 41 23 Right-of-use assets obtained in exchange for new lease obligations: Operating leases 19 216 48 Finance leases — 2 1
Maturity 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, 2021: Table 8.6.5 LEASE LIABILITY MATURITIES (Dollars in millions) December 31, 2021 2022 $ 49 2023 45 2024 40 2025 39 2026 37 2027 and thereafter 238 Total lease payments 448 Less lease liability interest (62) Total lease liability $ 386
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, 2021: Table 8.6.5 LEASE LIABILITY MATURITIES (Dollars in millions) December 31, 2021 2022 $ 49 2023 45 2024 40 2025 39 2026 37 2027 and thereafter 238 Total lease payments 448 Less lease liability interest (62) Total lease liability $ 386
Summary of Lease Net Investments	The components of the Company’s net investment in leases as of December 31, 2021 and 2020 were as follows: Table 8.6.6 LEASE NET INVESTMENTS (Dollars in millions) December 31, 2021 December 31, 2020 Lease receivable $ 729 $ 535 Unearned income (135) (108) Guaranteed residual 97 92 Unguaranteed residual 102 68 Total net investment $ 793 $ 587
Maturity of Lease Receivables as Lessor	Maturities of the Company's lease receivables as of December 31, 2021 were as follows: Table 8.6.7 LEASE RECEIVABLE MATURITIES (Dollars in millions) December 31, 2021 2022 $ 136 2023 122 2024 96 2025 73 2026 57 2027 and thereafter 245 Total future minimum lease payments $ 729

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Gross Goodwill and Accumulated Impairment Losses and Write-Offs Detailed By Reportable Segments	The following is a summary of goodwill by reportable segment included in the Consolidated Balance Sheets as of December 31, 2021: Table 8.7.1 GOODWILL (Dollars in millions) Regional Specialty Total 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 Additions — — — December 31, 2021 $ 880 $ 631 $ 1,511
Summary of Intangible Assets and Accumulated Amortization Included In The Consolidated Statements of Condition	The following table, which excludes fully amortized intangibles, presents other intangible assets included in the Consolidated Balance Sheets: Table 8.7.2 OTHER INTANGIBLE ASSETS December 31, 2021 December 31, 2020 (Dollars in millions) Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Core deposit intangibles $ 371 $ (128) $ 243 $ 371 $ (81) $ 290 Client relationships 37 (11) 26 37 (8) 29 Other (a) 41 (12) 29 41 (6) 35 Total $ 449 $ (151) $ 298 $ 449 $ (95) $ 354
Schedule of Estimated Aggregate Amortization Expense for Intangible Assets	The following table shows the aggregated amortization expense estimated, as of December 31, 2021, for the next five years: Table 8.7.3 ESTIMATED AMORTIZATION EXPENSE (Dollars in millions) 2022 $ 51 2023 48 2024 44 2025 38 2026 33

Mortgage Banking Activity (Tabl

Mortgage Banking Activity (Tables)	12 Months Ended
	Dec. 31, 2021
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 years ended December 31, 2021 and 2020: Table 8.8.1 MORTGAGE LOAN ACTIVITY (Dollars in millions) 2021 2020 Balance at beginning of period $ 409 $ 4 Acquired — 320 Originations and purchases 2,836 2,499 Sales, net of gains (3,025) (2,405) Mortgage loans transferred from (to) held for investment 30 (9) Balance at end of period $ 250 $ 409
Servicing Asset at Amortized Cost	Mortgage servicing rights had the following carrying values as of the period indicated. Table 8.8.2 MORTGAGE SERVICING RIGHTS December 31, 2021 (Dollars in millions) Gross Accumulated Net Carrying Amount Mortgage servicing rights $ 39 $ (9) $ 30 December 31, 2020 (Dollars in millions) Gross Accumulated Net Carrying Amount Mortgage servicing rights $ 28 $ (3) $ 25

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2021
Maturities of Time Deposits [Abstract]
Composition of Deposits	The composition of deposits is presented in the following table: Table 8.9.1 DEPOSITS (Dollars in millions) 2021 2020 Savings $ 26,457 $ 27,324 Time deposits 3,500 5,070 Other interest-bearing deposits 17,055 15,415 Total interest-bearing deposits 47,012 47,809 Noninterest-bearing deposits 27,883 22,173 Total deposits $ 74,895 $ 69,982
Schedule of Time Deposits Included in Interest-Bearing Deposits	Scheduled maturities of time deposits as of December 31, 2021 were as follows: Table 8.9.2 TIME DEPOSIT MATURITIES (Dollars in millions) 2022 $ 3,006 2023 229 2024 115 2025 79 2026 43 2027 and after 28 Total $ 3,500

Short-Term Borrowings (Tables)

Short-Term Borrowings (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Short-term Debt	A summary of short-term borrowings for the years 2021, 2020 and 2019 is presented in the following table: Table 8.10.1 SHORT-TERM BORROWINGS (Dollars in millions) Trading Liabilities Federal Funds Purchased Securities Sold Under Agreements to Repurchase Other Short-term Borrowings 2021 Average balance $ 540 $ 949 $ 1,235 $ 124 Year-end balance 426 775 1,247 102 Maximum month-end outstanding 685 1,037 1,615 146 Average rate for the year 1.11 % 0.12 % 0.30 % 0.09 % Average rate at year-end 1.62 % 0.10 % 0.11 % 0.08 % 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 % 0.50 % 0.84 % 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 % 2.07 % 2.10 % Average rate at year-end 2.07 % 1.55 % 1.72 % 2.14 %

Term Borrowings (Tables)

Term Borrowings (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Information Pertaining to Term Borrowings	The following table presents information pertaining to term borrowings as of December 31, 2021 and 2020: Table 8.11.1 TERM BORROWINGS (Dollars in millions) 2021 2020 First Horizon Bank: Subordinated notes (a) Maturity date – May 1, 2030 - 5.75% $ 447 $ 447 Other collateralized borrowings - Maturity date – December 22, 2037 0.50% on December 31, 2021 and 0.52% on December 31, 2020 (b) 87 82 Other collateralized borrowings - SBA loans (c) 6 15 First Horizon Corporation: Senior notes Maturity date – May 26, 2023 - 3.55% 448 447 Maturity date – May 26, 2025 - 4.00% 349 348 Junior subordinated debentures (d) Maturity date - July 31, 2031 - 3.51% on December 31, 2020 — 7 Maturity date - November 15, 2032 - 3.50% on December 31, 2020 — 9 Maturity date - March 26, 2033 - 3.40% on December 31, 2020 — 5 Maturity date - June 17, 2033 - 3.40% on December 31, 2020 — 9 Maturity date - March 17, 2034 - 3.02% on December 31, 2020 — 6 Maturity date - September 20, 2034 - 2.25% on December 31, 2020 — 8 Maturity date - June 28, 2035 - 1.88% on December 31, 2021 and 1.90% on December 31, 2020 3 3 Maturity date - December 15, 2035 - 1.57% on December 31, 2021 and 1.59% on December 31, 2020 18 18 Maturity date - March 15, 2036 - 1.60% on December 31, 2021 and 1.62% on December 31, 2020 9 9 Maturity date - March 15, 2036 - 1.74% on December 31, 2021 and 1.76% on December 31, 2020 12 12 Maturity date - June 30, 2036 - 1.54% on December 31, 2021 and 1.56% on December 31, 2020 27 27 Maturity date - July 7, 2036 - 1.67% on December 31, 2021 and 1.79% on December 31, 2020 18 18 Maturity date - October 7, 2036 - 1.88% on December 31, 2020 — 6 Maturity date - December 30, 2036 - 1.84% on December 31, 2020 — 10 Maturity date - June 15, 2037 - 1.85% on December 31, 2021 and 1.87% on December 31, 2020 52 51 Maturity date - September 6, 2037 - 1.61% on December 31, 2021 and 1.66% on December 31, 2020 9 9 Maturity date - September 15, 2037 - 1.65% on December 31, 2020 — 7 Maturity date - December 15, 2037 - 2.76% on December 31, 2020 — 10 Maturity date - December 15, 2037 - 2.97% on December 31, 2020 — 10 Maturity date - June 15, 2038 - 3.72% on December 31, 2020 — 6 Notes payable - New market tax credit investments; 7 to 35 year term, 0.93% to 4.95% on December 31, 2021; 1.27% to 4.95% on December 31, 2020 59 45 FT Real Estate Securities Company, Inc.: Cumulative preferred stock (e) Maturity date – March 31, 2031 – 9.50% 46 46 Total $ 1,590 $ 1,670 (a) Qualifies for Tier 2 capital under the risk-based capital guidelines for First Horizon Bank as well as First Horizon Corporation up to certain limits for minority interest capital instruments. (b) Secured by trust preferred loans. (c) Collateralized borrowings associated with SBA loan sales that did not meet sales criteria. The loans have remaining terms of 4 to 25 years. These borrowings had a weighted average interest rate of 4.10% and 3.90% on December 31, 2021 and 2020, respectively. (d) Acquired in conjunction with the acquisitions of CBF and merger with IBKC. The legacy IBKC junior subordinated debentures were early redeemed in 2021. A portion qualifies for Tier 2 capital under the risk-based capital guidelines. (e) Qualifies for Tier 2 capital under the risk-based capital guidelines for both First Horizon Bank and First Horizon Corporation up to certain limits for minority interest capital instruments.
Schedule of Annual Principal Repayment Requirements	Annual principal repayment requirements as of December 31, 2021 are as follows: Table 8.11.2 ANNUAL PRINCIPAL REPAYMENT SCHEDULE (Dollars in millions) 2022 $ — 2023 450 2024 6 2025 350 2026 and after 807

Preferred Stock (Tables)

Preferred Stock (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule of Stock by Class	The following table presents a summary of FHN's non-cumulative perpetual preferred stock: Table 8.12.1 FHN PREFERRED STOCK December 31, (Dollars in millions) 2021 2020 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 — $ — $ — $ 95 Series B 7/2/2020 8/1/2025 6.625 % (b) Semi-annually 8,000 80 77 77 Series C 7/2/2020 5/1/2026 6.600 % (c) Quarterly 5,750 58 59 59 Series D 7/2/2020 5/1/2024 6.100 % (d) Semi-annually 10,000 100 94 94 Series E 5/28/2020 10/10/2025 6.500 % Quarterly 1,500 150 145 145 Series F 5/3/2021 7/10/2026 4.700 % Quarterly 1,500 150 145 — 26,750 $ 538 $ 520 $ 470 (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, 2021
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 following table. Table 8.13.1 CAPITAL AMOUNTS & RATIOS (Dollars in millions) First Horizon Corporation First Horizon Bank Amount Ratio Amount Ratio On December 31, 2021 Actual: Total Capital $ 7,918 12.34 % $ 7,893 12.41 % Tier 1 Capital 7,088 11.04 7,133 11.22 Common Equity Tier 1 6,367 9.92 6,838 10.75 Leverage 7,088 8.08 7,133 8.20 Minimum Requirement for Capital Adequacy Purposes: Total Capital 5,135 8.00 5,088 8.00 Tier 1 Capital 3,851 6.00 3,816 6.00 Common Equity Tier 1 2,888 4.50 2,862 4.50 Leverage 3,507 4.00 3,478 4.00 Minimum Requirement to be Well Capitalized Under Prompt Corrective Action Provisions: Total Capital 6,360 10.00 Tier 1 Capital 5,088 8.00 Common Equity Tier 1 4,134 6.50 Leverage 4,348 5.00 On December 31, 2020 Actual: Total Capital $ 7,935 12.57 % $ 7,827 12.52 Tier 1 Capital 6,782 10.74 6,832 10.93 Common Equity Tier 1 6,110 9.68 6,537 10.46 Leverage 6,782 8.24 6,832 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

Components of Other Comprehen_2

Components of Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021, 2020, and 2019: Table 8.14.1 ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Dollars in millions) Securities AFS Cash Flow Pension and Total 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) Net unrealized gains (losses) (144) (3) (2) (149) Amounts reclassified from AOCI — (7) 8 1 Other comprehensive income (loss) (144) (10) 6 (148) Balance as of December 31, 2021 $ (36) $ 2 $ (254) $ (288)
Reclassification Out of Accumulated Other Comprehensive Income	Reclassifications from AOCI, and related tax effects, were as follows: Table 8.14.2 RECLASSIFICATIONS FROM AOCI (Dollars in millions) Details about AOCI 2021 2020 2019 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 (9) (8) 5 Interest and fees on loans and leases Tax expense (benefit) 2 2 (1) Income tax expense (7) (6) 4 Pension and Postretirement Plans: Amortization of prior service cost and net actuarial (gain) loss 10 13 10 Other expense Tax expense (benefit) (2) (3) (3) Income tax expense 8 10 7 Total reclassification from AOCI $ 1 $ 7 $ 11

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
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: Table 8.15.1 INCOME TAX EXPENSE (Dollars in millions) 2021 2020 2019 Consolidated Statements of Income: Income tax expense $ 274 $ 76 $ 134 Consolidated Statements of Changes in Equity: Income tax expense (benefit) related to: Net unrealized gains on pension and other postretirement plans 2 3 5 Net unrealized gains (losses) on securities available for sale (46) 25 35 Net unrealized gains (losses) on cash flow hedges (3) 3 5 Total $ 227 $ 107 $ 179
Schedule of Components of Income Tax Expense/(Benefit)	The components of income tax expense (benefit) for the years ended December 31, were as follows: Table 8.15.2 INCOME TAX EXPENSE COMPONENTS (Dollars in millions) 2021 2020 2019 Current: Federal $ 235 $ 80 $ 106 State 39 14 14 Deferred: Federal (1) (15) 5 State 1 (3) 9 Total $ 274 $ 76 $ 134
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 2021, 2020, and 2019, respectively to the total income tax expense follows: Table 8.15.3 RECONCILIATION FROM STATUTORY RATES (Dollars in millions) 2021 2020 2019 Federal income tax rate 21 % 21 % 21 % Tax computed at statutory rate $ 270 $ 196 $ 123 Increase (decrease) resulting from: State income taxes, net of federal income tax benefit 32 9 15 Bank-owned life insurance (7) (6) (5) 401(k) – employee stock ownership plan (1) (1) (1) Tax-exempt interest (10) (8) (6) Non-deductible expenses 8 13 11 LIHTC credits and benefits, net of amortization (14) (9) (4) Other tax credits (4) (5) — Other changes in unrecognized tax benefits 4 (9) 4 Purchase accounting gain — (112) — Other (4) 8 (3) Total $ 274 $ 76 $ 134
Net DTA Balances Related to Income Tax Carryforwards	As of December 31, 2021, FHN had net deferred tax asset balances related to federal and state income tax carryforwards of $38 million and $2 million, respectively, which will expire at various dates as follows: Table 8.15.4 TAX CARRYFORWARD DTA EXPIRATION DATES (Dollars in millions) Expiration Dates Net Deferred Tax Losses - federal 2026 - 2035 $ 38 Net operating losses - states 2027 - 2040 2
Schedule of Deferred Tax Assets and Liabilities	Temporary differences which gave rise to deferred tax assets and deferred tax liabilities on December 31, 2021 and 2020 were as follows: Table 8.15.5 COMPONENTS OF DTAs & DTLs (Dollars in millions) 2021 2020 Deferred tax assets: Loss reserves $ 161 $ 205 Employee benefits 83 86 Accrued expenses 16 7 Depreciation and amortization 13 — Lease liability 94 100 Federal loss carryforwards 38 44 State loss carryforwards 2 9 Investment in debt securities (ASC 320) (a) 12 — Other 29 20 Gross deferred tax assets 448 471 Deferred tax liabilities: Depreciation and amortization $ — $ 83 Investment in debt securities (ASC 320) (a) — 35 Equity investments 4 11 Other intangible assets 86 93 Prepaid expenses 18 15 ROU lease asset 85 89 Leasing 198 135 Other 5 10 Gross deferred tax liabilities 396 471 Net deferred tax assets $ 52 $ — (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 in the following table: Table 8.15.6 ROLLFORWARD OF UNRECOGNIZED TAX BENEFITS (Dollars in millions) 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 Increases related to prior year tax positions 24 Increases related to current year tax positions 1 Lapse of statutes (3) Balance at December 31, 2021 $ 92

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Reconciliation of Earnings 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: Table 8.16.1 NET INCOME & COMMON SHARE RECONCILIATIONS (Dollars in millions, except per share data; shares in thousands) 2021 2020 2019 Net income $ 1,010 $ 857 $ 452 Net income attributable to noncontrolling interest 11 12 11 Net income attributable to controlling interest 999 845 441 Preferred stock dividends 37 23 6 Net income available to common shareholders $ 962 $ 822 $ 435 Weighted average common shares outstanding—basic 546,354 432,125 313,637 Effect of dilutive securities 4,887 1,592 2,020 Weighted average common shares outstanding—diluted 551,241 433,717 315,657 Basic earnings per common share $ 1.76 $ 1.90 $ 1.39 Diluted earnings per common share $ 1.74 $ 1.89 $ 1.38
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: Table 8.16.2 ANTI-DILUTIVE EQUITY AWARDS (Shares in thousands) 2021 2020 2019 Stock options excluded from the calculation of diluted EPS 1,366 4,595 2,359 Weighted average exercise price of stock options excluded from the calculation of diluted EPS $ 20.44 $ 17.47 $ 21.12 Other equity awards excluded from the calculation of diluted EPS 1,531 3,639 2,224

Retirement Plans and Other Em_2

Retirement Plans and Other Employee Benefits (Tables)	12 Months Ended
	Dec. 31, 2021
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: Table 8.18.1 ACTUARIAL ASSUMPTIONS FOR DEFINED BENEFIT PLANS Benefit Obligations Net Periodic Benefit Cost 2021 2020 2019 2021 2020 2019 Discount rate Qualified pension 2.95% 2.63% 3.31% 2.64% 3.31% 4.43% Nonqualified pension 2.65% 2.24% 3.08% 2.24% 3.08% 4.26% Other nonqualified pension 1.99% 1.41% 2.57% 1.41% 2.57% 3.83% Postretirement benefits 2.43%-3.07% 1.92% - 2.81% 2.85% - 3.44% 1.93%-2.81% 2.87% - 3.44% 4.04% - 4.56% Expected long-term rate of return Qualified pension/ N/A N/A N/A 2.30% 3.45% 4.80% Postretirement benefit (retirees post January 1, 1993) N/A N/A N/A 5.80% 6.40% 6.85% Postretirement benefit (retirees prior to January 1, 1993) N/A N/A N/A 1.00% 0.90% 0.05%
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, 2021, 2020 and 2019 and interest crediting rates for the respective years were as follows: Table 8.18.2 PROJECTED BENEFIT OBLIGATION & CREDITING RATE (Dollars in millions) 2021 2020 2019 Projected benefit obligation $ 12 $ 15 $ 16 Interest crediting rate 9.07 % 8.20 % 9.66 %
Schedule of Components of Net Periodic Benefit Cost	The components of net periodic benefit cost for the plan years 2021, 2020 and 2019 were as follows: Table 8.18.3 COMPONENTS OF NET PERIODIC BENEFIT COST (Dollars in millions) Pension Benefits Other Benefits 2021 2020 2019 2021 2020 2019 Components of net periodic benefit cost Interest cost $ 17 $ 24 $ 30 $ 1 $ 1 $ 1 Expected return on plan assets (20) (26) (37) (1) (1) (1) Amortization of unrecognized: Actuarial (gain) loss 10 13 10 — — — Net periodic benefit cost $ 7 $ 11 $ 3 $ — $ — $ —
Schedule of Plan's Benefit Obligations and Plan Assets	The following tables set forth the plans’ benefit obligations and plan assets for 2021 and 2020: Table 8.18.4 BENEFIT OBLIGATIONS & PLAN ASSETS (Dollars in millions) Pension Benefits Other Benefits 2021 2020 2021 2020 Change in benefit obligation Benefit obligation, beginning of year $ 893 $ 836 $ 46 $ 42 Interest cost 17 24 1 1 Actuarial (gain) loss (a) (26) 70 (5) 4 Actual benefits paid (39) (37) (1) (1) Benefit obligation, end of year $ 845 $ 893 $ 41 $ 46 Change in plan assets Fair value of plan assets, beginning of year $ 896 $ 826 $ 23 $ 20 Actual return on plan assets (18) 103 3 3 Employer contributions 10 4 1 1 Actual benefits paid – settlement payments (3) (36) (1) (1) Actual benefits paid – other payments (2) (1) — — Premium paid for annuity purchase (b) (34) — — — Fair value of plan assets, end of year $ 849 $ 896 $ 26 $ 23 Funded (unfunded) status of the plans $ 4 $ 3 $ (15) $ (23) Amounts recognized in the Balance Sheets Other assets $ 37 $ 40 $ 23 $ 20 Other liabilities (33) (37) (38) (43) Net asset (liability) at end of year $ 4 $ 3 $ (15) $ (23) (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) 2021 amount represents 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: Table 8.18.5 BENEFIT OBLIGATION - UNFUNDED PLANS Pension Benefits Other Benefits (Dollars in millions) 2021 2020 2021 2020 Projected benefit obligation $ 33 $ 37 $ 38 $ 43
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, 2021 and 2020 consist of: Table 8.18.6 PRE-TAX ACTUARIAL GAINS (LOSSES) REFLECTED IN AOCI (Dollars in millions) Pension Benefits Other Benefits 2021 2020 2021 2020 Amounts recognized in accumulated other comprehensive income Net actuarial (gain) loss $ 342 $ 342 $ (6) $ 1
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 2021, 2020, and 2019 were as follows: Table 8.18.7 PRE-TAX AMOUNTS RECOGNIZED IN OCI (Dollars in millions) Pension Benefits Other Benefits 2021 2020 2019 2021 2020 2019 Changes in plan assets and benefit obligation recognized in other comprehensive income Net actuarial (gain) loss arising during measurement period $ 13 $ (8) $ (14) $ (7) $ 3 $ 5 Items amortized during the measurement period: Net actuarial gain (loss) (10) (13) (10) — — — Total recognized in other comprehensive income $ 3 $ (21) $ (24) $ (7) $ 3 $ 5
Schedule of Expected Benefit Payments	The following table provides detail on expected benefit payments, which reflect expected future service, as appropriate: Table 8.18.8 EXPECTED BENEFIT PAYMENTS (Dollars in millions) Pension Other 2022 $ 40 $ 2 2023 42 2 2024 43 2 2025 45 2 2026 46 2 2027-2031 232 11
Schedule of Fair Value of Pension Plan Assets	The fair value of FHN’s pension plan assets at December 31, 2021 and 2020, by asset category classified using the Fair Value measurement hierarchy, is shown in the tables below. See Note 24 – Fair Value of Assets and Liabilities for more details about fair value measurements. Tables 8.18.9a-b FAIR VALUE OF PENSION ASSETS (Dollars in millions) December 31, 2021 Level 1 Level 2 Level 3 Total Cash equivalents and money market funds $ 45 $ — $ — $ 45 Fixed income securities: U.S. treasuries — 15 — 15 Corporate, municipal and foreign bonds — 445 — 445 Common and collective funds: Fixed income — 344 — 344 Total $ 45 $ 804 $ — $ 849 (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
Schedule of Fair Value of Retiree Medical Plan Assets	The fair value of FHN’s retiree medical plan assets at December 31, 2021 and 2020 by asset category are as follows: Tables 8.18.10a-b FAIR VALUE OF RETIREE MEDICAL PLAN ASSETS (Dollars in millions) December 31, 2021 Level 1 Level 2 Level 3 Total Mutual funds: Equity mutual funds $ 17 $ — $ — $ 17 Fixed income mutual funds 9 — — 9 Total $ 26 $ — $ — $ 26 (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

Stock Options, Restricted Sto_2

Stock Options, Restricted Stock, and Dividend Reinvestment Plans (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021, is presented below: Table 8.19.1 RESTRICTED AND PERFORMANCE EQUITY AWARD ACTIVITY Shares/ Weighted average January 1, 2021 8,270,216 $ 12.47 Shares/units granted 4,330,371 13.56 Shares/units vested/distributed (637,689) 12.31 Shares/units canceled (2,666,010) 13.05 December 31, 2021 9,296,888 $ 13.14 (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 2020 and 2019 was $12.47 and $16.25, respectively.
Schedule of Stock Options	The summary of stock option activity for the year ended December 31, 2021, is shown below: Table 8.19.2 STOCK OPTION ACTIVITY Options Weighted Weighted Average Aggregate January 1, 2021 7,749,082 $ 15.20 Options granted 155,124 14.44 Options exercised (2,302,642) 11.88 Options expired/canceled (620,635) 22.44 December 31, 2021 4,980,929 $ 15.81 3.99 $ 7 Options exercisable 3,697,062 15.95 3.51 6 Options expected to vest 1,283,867 15.15 4.39 1
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 2021, 2020, and 2019 with the following assumptions: Table 8.19.3 STOCK OPTION FAIR VALUE ASSUMPTIONS 2021 2020 2019 Expected dividend yield 4.16% 3.77% 3.63% Expected weighted-average lives of options granted 6.29 years 6.25 years 6.24 years Expected weighted-average volatility 38.44% 23.94% 24.76% Expected volatility range 37.86%-39.02% 23.32 - 24.56% 23.07 - 26.45% Risk-free interest rate 0.62% 1.47% 2.53%

Business Segment Information (T

Business Segment Information (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting, Measurement Disclosures [Abstract]
Schedule of Segment Financial Information	The following tables present financial information for each reportable business segment for the years ended December 31: Tables 8.20.1a-b-c SEGMENT FINANCIAL INFORMATION 2021 (Dollars in millions) Regional Banking Specialty Banking Corporate Consolidated Net interest income (expense) $ 1,764 $ 619 $ (389) $ 1,994 Provision for credit losses (229) (64) (17) (310) Noninterest income 438 597 41 1,076 Noninterest expense (b)(c)(f) 1,151 571 374 2,096 Income (loss) before income taxes 1,280 709 (705) 1,284 Income tax expense (benefit) 298 171 (195) 274 Net income (loss) $ 982 $ 538 $ (510) $ 1,010 Average assets $ 45,445 $ 20,803 $ 21,361 $ 87,609 Depreciation and amortization (71) (2) 101 28 Expenditures for long-lived assets 27 3 7 37 2020 (Dollars in millions) Regional Banking Specialty Banking Corporate Consolidated Net interest income (expense) $ 1,264 $ 572 $ (174) $ 1,662 Provision for credit losses (e) 392 116 (5) 503 Noninterest income (a) 345 576 571 1,492 Noninterest expense (b)(c)(d) 944 494 280 1,718 Income (loss) before income taxes 273 538 122 933 Income tax expense (benefit) 56 131 (111) 76 Net income (loss) $ 217 $ 407 $ 233 $ 857 Average assets $ 32,782 $ 19,822 $ 11,742 $ 64,346 Depreciation and amortization (42) 4 84 46 Expenditures for long-lived assets 283 6 90 379 2019 (Dollars in millions) Regional Banking Specialty Banking Corporate Consolidated Net interest income (expense) $ 833 $ 389 $ (12) $ 1,210 Provision for credit losses 24 37 (16) 45 Noninterest income 293 315 46 654 Noninterest expense (b)(c)(d)(f) 678 347 208 1,233 Income (loss) before income taxes 424 320 (158) 586 Income tax expense (benefit) 97 79 (42) 134 Net income (loss) $ 327 $ 241 $ (116) $ 452 Average assets $ 18,236 $ 15,517 $ 7,991 $ 41,744 Depreciation and amortization 22 14 29 65 Expenditures for long-lived assets 29 4 16 49 (a) 2020 includes a $533 million purchase accounting gain associated with the IBKC merger in the Corporate segment. (b) 2019 includes restructuring-related costs associated with efficiency initiatives; refer to Note 25 - Restructuring, Repositioning, and Efficiency for additional information. 2021, 2020 and 2019 include merger-related expenses; refer to Note 2 - Acquisitions and Divestitures for additional information. (c) 2021 and 2020 includes$37 million and $13 million, respectively, in asset impairments related to IBKC merger integration efforts in the Corporate segment. 2019 includes $25 million of asset impairments associated with acquisition, restructuring, and rebranding initiatives. (d) 2020 and 2019 include $41 million and $11 million, respectively, of contributions to FHN's foundations. (e) Increase in provision for credit losses in 2020 is primarily due to the provision related to non-PCD loans acquired in the IBKC merger and Truist branch acquisition and the economic forecast attributable to the COVID-19 pandemic. (f) 2021 and 2019 include $19 million and $4 million, respectively, in derivative valuation adjustments related to prior sales of Visa Class B shares in the Corporate segment. The following tables reflect a disaggregation of FHN’s noninterest income by major product line and reportable segment for the years ended December 31, 2021, 2020, and 2019: Tables 8.20.2a-b-c NONINTEREST INCOME DETAIL BY SEGMENT December 31, 2021 (Dollars in millions) Regional Banking Specialty Banking Corporate Consolidated Noninterest income: Fixed income (a) $ — $ 406 $ — $ 406 Deposit transactions and cash management 157 12 6 175 Mortgage banking and title income — 152 2 154 Brokerage, management fees and commissions 88 — — 88 Card and digital banking fees 67 3 8 78 Trust services and investment management 51 — — 51 Other service charges and fees 23 17 4 44 Securities gains (losses), net (b) — — 13 13 Purchase accounting gain — — (1) (1) Other income (c) 52 7 9 68 Total noninterest income $ 438 $ 597 $ 41 $ 1,076 December 31, 2020 (Dollars in millions) Regional Banking Specialty Banking Corporate Consolidated Noninterest income: Fixed income (a) $ 1 $ 422 $ — $ 423 Deposit transactions and cash management 131 11 6 148 Mortgage banking and title income — 128 1 129 Brokerage, management fees and commissions 66 — — 66 Card and digital banking fees 50 2 8 60 Trust services and investment management 39 — — 39 Other service charges and fees 18 7 1 26 Securities gains (losses), net (b) — — (6) (6) Purchase accounting gain — — 533 533 Other income (c) 40 6 28 74 Total noninterest income $ 345 $ 576 $ 571 $ 1,492 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 Card and digital banking fees 41 2 6 49 Trust services and investment management 30 — — 30 Other service charges and fees 16 5 — 21 Other income (c) 37 11 30 78 Total noninterest income $ 293 $ 315 $ 46 $ 654 (a) 2021, 2020 and 2019, include $44million , $39 million and $34 million, respectively, of underwriting, portfolio advisory, and other noninterest income in scope of ASC 606, "Revenue From Contracts With Customers." (b) Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile total noninterest income. (c) Includes letter of credit fees and insurance commissions in scope of ASC 606.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021 and 2020: Table 8.21.1 CONSOLIDATED VIEs (Dollars in millions) December 31, 2021 December 31, 2020 Assets: Other assets $ 205 $ 195 Liabilities: Other liabilities $ 179 $ 165
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, 2021, 2020 and 2019 for LIHTC investments accounted for under the proportional amortization method. Table 8.21.2 LIHTC IMPACTS ON TAX EXPENSE (Dollars in millions) 2021 2020 2019 Income tax expense (benefit): Amortization of qualifying LIHTC investments $ 26 $ 23 $ 15 Low income housing tax credits (32) (22) (14) Other tax benefits related to qualifying LIHTC investments (7) (10) (6)
Summary Of VIEs Not Consolidated By FHN	The following tables summarize FHN’s nonconsolidated VIEs as of December 31, 2021 and 2020: Table 8.21.3 NONCONSOLIDATED VIEs AT YE 2021 (Dollars in millions) Maximum Liability Classification Type: Low income housing partnerships $ 382 $ 129 (a) Other tax credit investments (b) 77 56 Other assets Small issuer trust preferred holdings (c) 195 — Loans and leases On-balance sheet trust preferred securitization 27 87 (d) Holdings of agency mortgage-backed securities (c) 8,550 — (e) Commercial loan troubled debt restructurings (f) 98 — Loans and leases Proprietary trust preferred issuances (g) — 167 Term borrowings (a) Maximum loss exposure represents $253 million of current investments and $129 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 $87 million classified as term borrowings. (e) Includes $526 million classified as trading securities, $712 million classified as securities held to maturity and $7.3 billion classified as securities available for sale. (f) Maximum loss exposure represents $94 million of current receivables and $4 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. Table 8.21.4 NONCONSOLIDATED VIEs AT YE 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 $845 million 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.

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021 and 2020: Table 8.22.1a-b DERIVATIVES ASSOCIATED WITH TRADING December 31, 2021 (Dollars in millions) Notional Assets Liabilities Customer interest rate contracts $ 3,587 $ 84 $ 41 Offsetting upstream interest rate contracts 3,587 4 8 Option contracts purchased 13 — — Forwards and futures purchased 4,430 2 9 Forwards and futures sold 5,044 10 2 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
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, 2021 and 2020: Table 8.22.2a-b DERIVATIVES ASSOCIATED WITH INTEREST RATE RISK MANAGEMENT December 31, 2021 (Dollars in millions) Notional Assets Liabilities Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer interest rate contracts $ 8,037 $ 202 $ 29 Offsetting upstream interest rate contracts 8,037 4 15 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
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, 2021, 2020, and 2019: Table 8.22.3 DERIVATIVE GAINS (LOSSES) ASSOCIATED WITH INTEREST RATE RISK MANAGEMENT Year Ended December 31, 2021 2020 2019 (Dollars in millions) Gains (Losses) Gains (Losses) Gains (Losses) Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer interest rate contracts (a) $ (268) $ 357 $ 92 Offsetting upstream interest rate contracts (a) 268 (357) (92) Debt Hedging Hedging Instruments: Interest rate swaps (b) $ — $ 2 $ 13 Hedged Items: Term borrowings (a) (c) — (2) (13) (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, 2021 and 2020: Table 8.22.4a-b DERIVATIVES ASSOCIATED WITH CASH FLOW HEDGES December 31, 2021 (Dollars in millions) Notional Assets Liabilities Cash Flow Hedges Hedging Instruments: Interest rate contracts $ 1,100 $ 13 $ — Hedged Items: Variability in cash flows related to debt instruments (primarily loans) N/A $ 1,100 N/A December 31, 2020 (Dollars in millions) Notional Assets Liabilities Cash Flow Hedges Hedging Instruments: Interest rate contracts $ 1,250 $ 32 $ — Hedged Items: Variability in cash flows related to debt instruments (primarily loans) N/A $ 1,250 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, 2021, 2020, and 2019: Table 8.22.5 DERIVATIVE GAINS (LOSSES) ASSOCIATED WITH CASH FLOW HEDGES Year Ended December 31, 2021 2020 2019 (Dollars in millions) Gains (Losses) Gains (Losses) Gains (Losses) Cash Flow Hedges Hedging Instruments: Interest rate contracts (a) $ 29 $ 3 $ 21 Gain (loss) recognized in other comprehensive income (loss) (3) 15 11 Gain (loss) reclassified from AOCI into interest income (7) (6) 4 (a) Approximately $15 million of pre-tax gains are expected to be reclassified into earnings in the next twelve months.
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. Table 8.22.6a-b DERIVATIVES ASSOCIATED WITH MORTGAGE BANKING HEDGES December 31, 2021 (Dollars in millions) Notional Assets Liabilities Mortgage Banking Hedges Option contracts written $ 241 $ 4 $ — Forward contracts written 404 — — December 31, 2020 (Dollars in millions) Notional Assets Liabilities Mortgage Banking Hedges Option contracts written $ 667 $ 20 $ — Forward contracts written 725 — 6 The following table summarizes gains (losses) on FHN's derivatives associated with mortgage banking activities for the years ended December 31, 2021 and 2020: Table 8.22.7 DERIVATIVE GAINS (LOSSES) ASSOCIATED WITH MORTGAGE BANKING HEDGES Year Ended 2021 2020 (Dollars in millions) Gains (Losses) Gains (Losses) Mortgage Banking Hedges Option contracts written $ 15 $ 15 Forward contracts written 11 (37)
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, 2021 and 2020: Table 8.22.8 DERIVATIVE ASSETS & COLLATERAL RECEIVED Gross amounts not offset in the Balance Sheets (Dollars in millions) Gross amounts Gross amounts Net amounts of Derivative liabilities Collateral Net amount Derivative assets: December 31, 2021 Interest rate derivative contracts $ 311 $ — $ 311 $ (32) $ (181) $ 98 Forward contracts 12 — 12 (4) (3) 5 $ 323 $ — $ 323 $ (36) $ (184) $ 103 December 31, 2020 Interest rate derivative contracts $ 702 $ — $ 702 $ (7) $ (327) $ 368 Forward contracts 63 — 63 (14) (20) 29 $ 765 $ — $ 765 $ (21) $ (347) $ 397 (a) Included in other assets on the Consolidated Balance Sheets. As of December 31, 2021 and 2020, $2 million and $4 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, 2021 and 2020: Table 8.22.9 DERIVATIVE LIABILITIES & COLLATERAL PLEDGED Gross amounts not offset in the Balance Sheets (Dollars in millions) Gross amounts Gross Net amounts of Derivative assets Collateral Net amount Derivative liabilities: December 31, 2021 Interest rate derivative contracts $ 93 $ — $ 93 $ (32) $ (38) $ 23 Forward contracts 10 — 10 (4) (1) 5 $ 103 $ — $ 103 $ (36) $ (39) $ 28 December 31, 2020 Interest rate derivative contracts $ 60 $ — $ 60 $ (7) $ (31) $ 22 Forward contracts 65 — 65 (14) (51) — $ 125 $ — $ 125 $ (21) $ (82) $ 22 (a) Included in other liabilities on the Consolidated Balance Sheets. As of December 31, 2021 and 2020, $24 million and $22 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 Ag_2

Master Netting and Similar Agreements - Repurchase, Reverse Repurchase, and Securities Borrowing Transactions (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021 and 2020: Table 8.23.1 SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL 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: 2021 $ 488 $ — $ 488 $ (10) $ (476) $ 2 2020 380 — 380 — (379) 1
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, 2021 and 2020: Table 8.23.2 SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Gross amounts not offset in the (Dollars in millions) Gross amounts Gross amounts Net amounts of Offsetting securities Securities/ Net amount Securities sold under agreements to repurchase: 2021 $ 1,247 $ — $ 1,247 $ (10) $ (1,237) $ — 2020 1,187 — 1,187 — (1,187) —
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, 2021 and 2020: Tables 8.23.3a-b MATURITIES OF SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE December 31, 2021 (Dollars in millions) Overnight and Up to 30 Days Total Securities sold under agreements to repurchase: U.S. treasuries $ 33 $ — $ 33 Government agency issued MBS 1,068 — 1,068 Other U.S. government agencies 31 — 31 Government guaranteed loans (SBA and USDA) 115 — 115 Total securities sold under agreements to repurchase $ 1,247 $ — $ 1,247 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

Fair Value of Assets and Liab_2

Fair Value of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021 and 2020: Tables 8.24.1a-b BALANCES OF ASSETS & LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS December 31, 2021 (Dollars in millions) Level 1 Level 2 Level 3 Total Trading securities: U.S. treasuries $ — $ 85 $ — $ 85 Government agency issued MBS — 464 — 464 Government agency issued CMO — 62 — 62 Other U.S. government agencies — 276 — 276 States and municipalities — 34 — 34 Corporate and other debt — 642 — 642 Interest-only strips (elected fair value) — — 38 38 Total trading securities — 1,563 38 1,601 Loans held for sale (elected fair value) — 230 28 258 Securities available for sale: Government agency issued MBS — 5,055 — 5,055 Government agency issued CMO — 2,257 — 2,257 Other U.S. government agencies — 850 — 850 States and municipalities — 545 — 545 Total securities available for sale — 8,707 — 8,707 Other assets: Deferred compensation mutual funds 125 — — 125 Equity, mutual funds, and other 25 — — 25 Derivatives, forwards and futures 12 — — 12 Derivatives, interest rate contracts — 311 — 311 Derivatives, other — 1 — 1 Total other assets 162 312 — 474 Total assets $ 162 $ 10,812 $ 66 $ 11,040 Trading liabilities: U.S. treasuries $ — $ 334 $ — $ 334 Government issued agency MBS — 1 — 1 Corporate and other debt — 91 — 91 Total trading liabilities — 426 — 426 Other liabilities: Derivatives, forwards and futures 11 — — 11 Derivatives, interest rate contracts — 93 — 93 Derivatives, other — 1 23 24 Total other liabilities 11 94 23 128 Total liabilities $ 11 $ 520 $ 23 $ 554 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 agency issued 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
Summary of Changes in Level 3 Assets and Liabilities 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, 2021, 2020 and 2019 on a recurring basis are summarized as follows: Tables 8.24.2a-b-c CHANGES IN LEVEL 3 ASSETS & LIABILITIES MEASURED AT FAIR VALUE Year Ended December 31, 2021 (Dollars in millions) Interest-only strips Loans held for sale Loans held for investment Net derivative Balance on January 1, 2021 $ 32 $ 12 $ 16 $ (14) Total net gains (losses) included in net income 3 1 — (19) Purchases — 10 — — Sales (68) (18) — — Settlements — (3) (2) 10 Net transfers into (out of) Level 3 71 (b) 26 (e) (14) (e) — Balance on December 31, 2021 $ 38 $ 28 $ — $ (23) Net unrealized gains (losses) included in net income $ (2) (c) $ 1 (a) $ — $ (19) (d) 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) (a) Primarily included in mortgage banking and title income on the Consolidated Statements of Income. (b) Transfers into interest-only strips level 3 measured on a recurring basis reflect movements from loans held for sale (Level 2 nonrecurring). (c) Primarily included in fixed income on the Consolidated Statements of Income. (d) Included in other expense. (e) The loans held for investment at fair value option portfolio was transferred to the loans held for sale portfolio on April 1, 2021.
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, 2021, 2020 and 2019 on a recurring basis are summarized as follows: Tables 8.24.2a-b-c CHANGES IN LEVEL 3 ASSETS & LIABILITIES MEASURED AT FAIR VALUE Year Ended December 31, 2021 (Dollars in millions) Interest-only strips Loans held for sale Loans held for investment Net derivative Balance on January 1, 2021 $ 32 $ 12 $ 16 $ (14) Total net gains (losses) included in net income 3 1 — (19) Purchases — 10 — — Sales (68) (18) — — Settlements — (3) (2) 10 Net transfers into (out of) Level 3 71 (b) 26 (e) (14) (e) — Balance on December 31, 2021 $ 38 $ 28 $ — $ (23) Net unrealized gains (losses) included in net income $ (2) (c) $ 1 (a) $ — $ (19) (d) 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) (a) Primarily included in mortgage banking and title income on the Consolidated Statements of Income. (b) Transfers into interest-only strips level 3 measured on a recurring basis reflect movements from loans held for sale (Level 2 nonrecurring). (c) Primarily included in fixed income on the Consolidated Statements of Income. (d) Included in other expense. (e) The loans held for investment at fair value option portfolio was transferred to the loans held for sale portfolio on April 1, 2021.
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, 2021, 2020 and 2019, respectively, the following tables provide the level of valuation assumptions used to determine each adjustment and the related carrying value. Tables 8.24.3a-b-c LEVEL OF VALUATION ASSUMPTIONS FOR ASSETS MEASURED AT FAIR VALUE ON A NON-RECURRING BASIS Carrying value at December 31, 2021 Year Ended December 31, 2021 (Dollars in millions) Level 1 Level 2 Level 3 Total Net gains (losses) Loans held for sale—SBAs and USDA $ — $ 852 $ 1 $ 853 $ (2) Loans held for sale—first mortgages — — 1 1 — Loans and leases (a) — — 84 84 (13) OREO (b) — — 3 3 (1) Other assets (c) — — 30 30 (2) $ (18) 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) (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, 2021 and 2020: Tables 8.24.4a-b UNOBSERVABLE INPUTS USED IN LEVEL 3 FAIR VALUE MEASUREMENTS (Dollars in millions) Values Utilized Level 3 Class Fair Value at December 31, 2021 Valuation Techniques Unobservable Input Range Weighted Average (d) Trading securities - SBA interest-only strips $ 38 Discounted cash flow Constant prepayment rate 11%-12% 11% Bond equivalent yield 11% - 14% 11% Loans held for sale - residential real estate $ 29 Discounted cash flow Prepayment speeds - First mortgage 4% - 12% 5% Foreclosure losses 54% - 66% 65% Loss severity trends - First mortgage 1% - 14% of UPB 8% Loans held for sale - unguaranteed interest in SBA loans $ 1 Discounted cash flow Constant prepayment rate 8% - 12% 10% Bond equivalent yield 11% 11% Derivative liabilities, other $ 23 Discounted cash flow Visa covered litigation resolution amount $5.8 billion - $6.2 billion $6.0 billion Probability of resolution scenarios 15% - 35% 24% Time until resolution 12 - 36 months 25 months Loans and leases (a) $ 84 Appraisals from comparable 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) $ 3 Appraisals from comparable properties Adjustment for value changes since appraisal 0% - 10% of appraisal NM Other assets (c) $ 30 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, 2020 Valuation Techniques Unobservable Input Range Weighted Average (d) 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.
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. Tables 8.24.5a-b DIFFERENCES BETWEEN FAIR VALUE CARRYING AMOUNTS AND CONTRACTUAL AMOUNTS OF RESIDENTIAL REAL ESTATE LOANS December 31, 2021 (Dollars in millions) Fair value Aggregate Fair value carrying amount Residential real estate loans held for sale reported at fair value: Total loans $ 258 $ 264 $ (6) Nonaccrual loans 4 7 (3) 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 —
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: Table 8.24.6 CHANGES IN FAIR VALUE RECOGNIZED IN NET INCOME Year Ended December 31, (Dollars in millions) 2021 2020 2019 Changes in fair value included in net income: Mortgage banking and title noninterest income Loans held for sale $ (10) $ 4 $ 2
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, 2021 and December 31, 2020: Tables 8.24.7a-b BOOK VALUE AND ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS December 31, 2021 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 $ 30,734 $ — $ — $ 31,020 $ 31,020 Commercial real estate 11,955 — — 11,986 11,986 Consumer: Consumer real estate 10,609 — — 11,111 11,111 Credit card and other 891 — — 906 906 Total loans and leases, net of allowance for loan and lease losses 54,189 — — 55,023 55,023 Short-term financial assets: Interest-bearing deposits with banks 14,907 14,907 — — 14,907 Federal funds sold 153 — 153 — 153 Securities purchased under agreements to resell 488 — 488 — 488 Total short-term financial assets 15,548 14,907 641 — 15,548 Trading securities (a) 1,601 — 1,563 38 1,601 Loans held for sale: Mortgage loans (elected fair value) (a) 258 — 230 28 258 USDA & SBA loans - LOCOM 853 — 855 1 856 Other loans - LOCOM 24 — 24 — 24 Mortgage loans - LOCOM 37 — — 37 37 Total loans held for sale 1,172 — 1,109 66 1,175 Securities available for sale (a) 8,707 — 8,707 — 8,707 Securities held to maturity 712 — 705 — 705 Derivative assets (a) 324 12 312 — 324 Other assets: Tax credit investments 456 — — 450 450 Deferred compensation mutual funds 125 125 — — 125 Equity, mutual funds, and other (b) 257 25 — 232 257 Total other assets 838 150 — 682 832 Total assets $ 83,091 $ 15,069 $ 13,037 $ 55,809 $ 83,915 Liabilities: Defined maturity deposits $ 3,500 $ — $ 3,524 $ — $ 3,524 Trading liabilities (a) 426 — 426 — 426 Short-term financial liabilities: Federal funds purchased 775 — 775 — 775 Securities sold under agreements to repurchase 1,247 — 1,247 — 1,247 Other short-term borrowings 102 — 102 — 102 Total short-term financial liabilities 2,124 — 2,124 — 2,124 Term borrowings: Real estate investment trust-preferred 46 — — 47 47 Term borrowings—new market tax credit investment 59 — — 58 58 Secured borrowings 6 — — 6 6 Junior subordinated debentures 148 — — 150 150 Other long term borrowings 1,331 — 1,452 — 1,452 Total term borrowings 1,590 — 1,452 261 1,713 Derivative liabilities (a) 128 11 94 23 128 Total liabilities $ 7,768 $ 11 $ 7,620 $ 284 $ 7,915 (a) Classes are detailed in the recurring and nonrecurring measurement tables. (b) Level 1 primarily consists of mutual funds with readily determinable fair values. Level 3 includes restricted investments in FHLB-Cincinnati stock of $29 million and FRB stock of $203 million. 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 11,483 — — 11,903 11,903 Credit card and 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 (a) 1,176 — 1,176 — 1,176 Loans held for sale: Mortgage loans (elected fair value) (a) 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 (a) 8,047 — 8,015 32 8,047 Securities held to maturity 10 — — 10 10 Derivative assets (a) 769 63 706 — 769 Other assets: Tax credit investments 400 — — 371 371 Deferred compensation mutual funds 118 118 — — 118 Equity, mutual funds, and other (b) 288 25 — 263 288 Total other assets 806 143 — 634 777 Total assets $ 77,895 $ 8,557 $ 11,277 $ 58,461 $ 78,295 Liabilities: Defined maturity deposits $ 5,070 $ — $ 5,083 $ — $ 5,083 Trading liabilities (a) 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 (a) 149 71 64 14 149 Total liabilities $ 9,440 $ 71 $ 9,153 $ 344 $ 9,568 (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 $61 million and FRB stock of $202 million . The following table presents the contractual amount and fair value of unfunded loan commitments and standby and other commitments as of December 31, 2021 and December 31, 2020: Table 8.24.8 UNFUNDED COMMITMENTS Contractual Amount Fair Value (Dollars in millions) December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Unfunded Commitments: Loan commitments $ 24,229 $ 20,796 $ 1 $ 2 Standby and other commitments 810 751 6 6

Restructuring, Repositioning,_2

Restructuring, Repositioning, and Efficiency (Tables)	12 Months Ended
	Dec. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring Expense Recognized	Total expense recognized for the year ended December 31, 2019 is presented in the table below: Table 8.25.1 RESTRUCTURING, REPOSITIONING, & EFFICIENCY EXPENSES (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, 2021
Condensed Financial Information Disclosure [Abstract]
Statements of Balance Sheets	Following are statements of the parent company: Parent Company Balance Sheets Balance Sheets December 31, (Dollars in millions) 2021 2020 Assets: Cash $ 724 $ 827 Notes receivable 3 3 Investments in subsidiaries: Bank 8,381 8,176 Non-bank 65 88 Other assets 291 274 Total assets $ 9,464 $ 9,368 Liabilities and equity: Accrued employee benefits and other liabilities $ 321 $ 322 Term borrowings 944 1,034 Total liabilities 1,265 1,356 Total equity 8,199 8,012 Total liabilities and equity $ 9,464 $ 9,368
Statements of Income	Year Ended December 31, (Dollars in millions) 2021 2020 2019 Dividend income: Bank $ 770 $ 180 $ 345 Non-bank — — 1 Total dividend income 770 180 346 Other income (loss) (26) — 1 Total income 744 180 347 Provision (provision credit) for credit losses — — (1) Interest expense - term borrowings 31 39 31 Personnel and other expense 89 54 53 Total expense 120 93 83 Income before income taxes 624 87 264 Income tax benefit (35) (18) (19) Income before equity in undistributed net income of subsidiaries 659 105 283 Equity in undistributed net income (loss) of subsidiaries: Bank 332 736 160 Non-bank 8 4 (2) Net income attributable to the controlling interest $ 999 $ 845 $ 441
Statements of Cash Flows	(Dollars in millions) 2021 2020 2019 Operating activities: Net income $ 999 $ 845 $ 441 Less undistributed net income of subsidiaries 340 740 158 Income before undistributed net income of subsidiaries 659 105 283 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 8 5 4 Stock-based compensation expense 43 32 22 Loss on extinguishment of debt 26 — — Other operating activities, net (11) 21 28 Total adjustments 66 62 53 Net cash provided by operating activities 725 167 336 Investing activities: Proceeds from sales and prepayments of securities 3 — 1 Purchases of securities (10) (5) — (Investment in) return on subsidiary 8 (2) — Cash received for business combination, net — 103 — Net cash provided by (used in) investing activities 1 96 1 Financing activities: Proceeds from issuance of preferred stock 145 144 — Call of preferred stock (100) — — Cash dividends paid - preferred stock (33) (17) (6) Common stock: Stock options exercised 28 7 9 Cash dividends paid (333) (222) (171) Repurchase of shares (416) (4) (134) Proceeds from issuance of term borrowings — 795 — Repayment of term borrowings (120) (500) — Other financing activities, net — (8) — Net cash provided by (used in) financing activities (829) 195 (302) Net increase (decrease) in cash and cash equivalents (103) 458 35 Cash and cash equivalents at beginning of year 827 369 334 Cash and cash equivalents at end of year $ 724 $ 827 $ 369 Total interest paid $ 35 $ 33 $ 29 Income taxes received from subsidiaries 28 33 43

Significant Accounting Polici_3

Significant Accounting Policies - Narrative (Details)	12 Months Ended
	Dec. 31, 2021USD ($)
Change in Accounting Estimate [Line Items]
Performance obligation, description of timing	one year or less
Past due threshold period for nonaccrual status	90 days
Past due threshold period for nonaccrual status, consumer real estate loans	30 days
TD Merger Agreement
Change in Accounting Estimate [Line Items]
Merger and integration expense	$ 0
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	$ 12,000,000

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details)	Jul. 01, 2020USD ($)officestatenewPreferredStockSeriesshares	Dec. 31, 2021USD ($)shares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)	Jul. 17, 2020USD ($)branch	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Common stock, shares issued (in shares) | shares	243,000,000	533,576,766	555,030,652
Number of new series of preferred stock | newPreferredStockSeries	3
Number of states | state	12
Purchase accounting gain		$ (1,000,000)	$ 533,000,000	$ 0
Goodwill		1,511,000,000	1,511,000,000	$ 1,433,000,000		$ 1,433,000,000
IBERIABANK (IBKC)
Business Acquisition [Line Items]
Number of offices | office	319
IBERIABANK (IBKC)
Business Acquisition [Line Items]
Purchase accounting gain	$ 531,000,000		533,000,000
Merger and integration expense		187,000,000	$ 155,000,000
IBERIABANK (IBKC) | IBERIABANK (IBKC)
Business Acquisition [Line Items]
Equity interest issued, value assigned	$ 2,500,000,000
Truist Bank Branches
Business Acquisition [Line Items]
Number of bank branches | branch					30
Goodwill		78,000,000			$ 78,000,000
TD Merger Agreement
Business Acquisition [Line Items]
Merger and integration expense		$ 0

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Purchase Price Allocation (Details) - USD ($) $ in Millions	Jul. 01, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Consideration paid:
Purchase accounting gain		$ 1	$ (533)	$ 0
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
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	618
Total liabilities assumed	30,259
Net assets acquired	3,033
Consideration paid:
Consideration for outstanding common stock	28
Total consideration paid	2,502
Purchase accounting gain	(531)		$ (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

Acquisitions and Divestitures_3

Acquisitions and Divestitures - Merger and Integration Expenses (Details) - IBERIABANK (IBKC) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Merger and integration expense	$ 187	$ 155
Personnel expense
Business Acquisition [Line Items]
Merger and integration expense	56	66
Impairment of long-lived assets
Business Acquisition [Line Items]
Merger and integration expense	34	6
Legal and professional fees
Business Acquisition [Line Items]
Merger and integration expense	21	39
Contract employment and outsourcing
Business Acquisition [Line Items]
Merger and integration expense	12	1
Advertising and public relations
Business Acquisition [Line Items]
Merger and integration expense	10	0
Contribution expense
Business Acquisition [Line Items]
Merger and integration expense	0	20
Other expense
Business Acquisition [Line Items]
Merger and integration expense	$ 54	$ 23

Investment Securities - Schedul

Investment Securities - Schedule Of FHN's Investment Securities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 8,754
Fair Value	8,707	$ 8,047
Securities pledged as collateral	6,500	6,400
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	712	10
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(7)	0
Fair Value	705	10
U.S. treasuries
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		613
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair Value		613
Government agency issued MBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,062	3,722
Gross Unrealized Gains	42	92
Gross Unrealized Losses	(49)	(2)
Fair Value	5,055	3,812
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	509
Gross Unrealized Gains	0
Gross Unrealized Losses	(5)
Fair Value	504
Government agency issued CMO
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,296	2,380
Gross Unrealized Gains	8	29
Gross Unrealized Losses	(47)	(3)
Fair Value	2,257	2,406
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	203
Gross Unrealized Gains	0
Gross Unrealized Losses	(2)
Fair Value	201
Other U.S. government agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	861	672
Gross Unrealized Gains	4	12
Gross Unrealized Losses	(15)	0
Fair Value	850	684
Corporate and other debt
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		40
Gross Unrealized Gains		1
Gross Unrealized Losses		(1)
Fair Value		40
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		10
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair Value		10
States and municipalities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	535	445
Gross Unrealized Gains	11	15
Gross Unrealized Losses	(1)	0
Fair Value	545	460
Securities available-for-sale, excluding interest only strip
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	8,754	7,872
Gross Unrealized Gains	65	149
Gross Unrealized Losses	(112)	(6)
Fair Value	$ 8,707	8,015
Interest-only strips
Debt Securities, Available-for-sale [Line Items]
Fair Value		$ 32

Investment Securities - Sched_2

Investment Securities - Schedule Of Amortized Cost And Fair Value By Contractual Maturity (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Held-to-Maturity, Amortized Cost
Within 1 year	$ 0
After 1 year through 5 years	0
After 5 years through 10 years	0
After 10 years	0
Subtotal	0
Government agency issued MBS and CMO	712
Total	712
Held-to-Maturity, Fair Value
Within 1 year	0
After 1 year through 5 years	0
After 5 years through 10 years	0
After 10 years	0
Subtotal	0
Government agency issued MBS and CMO	705
Fair Value	705	$ 10
Available-for-Sale, Amortized Cost
Within 1 year	17
After 1 year through 5 years	149
After 5 years through 10 years	351
After 10 years	879
Subtotal	1,396
Government agency issued MBS and CMO	7,358
Securities available for sale, amortized cost	8,754
Available-for-Sale, Fair Value
Within 1 year	18
After 1 year through 5 years	149
After 5 years through 10 years	349
After 10 years	879
Subtotal	1,395
Government agency issued MBS and CMO	7,312
Securities available-for-sale	$ 8,707	$ 8,047

Investment Securities - Narrati

Investment Securities - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Marketable Securities [Abstract]
Gain on sale of debt investment securities	$ 0	$ 0	$ 0
Loss on sale of debt investment securities	0	4,000,000	0
Proceeds from sales		629,000,000	$ 192,000,000
Available-for-sale, accrued interest, after allowance for credit loss	23,000,000	22,000,000
Held-to-maturity, accrued interest, after allowance for credit loss	1,000,000
Allowance for credit losses for HTM securities	0	0
Carrying amount of equity method investments without readily determinable fair value	70,000,000	57,000,000
Unrealized gain (loss) for equity investments with readily determinable fair value	$ 3,000,000	$ 7,000,000

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, 2021	Dec. 31, 2020
Unrealized Losses
Fair value, less than 12 months	$ 4,936	$ 1,400
Unrealized losses, less than 12 months	(90)	(6)
Fair value, 12 months or longer	522	0
Unrealized loss, 12 months or longer	(22)	0
Fair value, total	5,458	1,400
Unrealized losses, total	(112)	(6)
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	2,973	426
Unrealized losses, less than 12 months	(41)	(2)
Fair value, 12 months or longer	184	0
Unrealized loss, 12 months or longer	(8)	0
Fair value, total	3,157	426
Unrealized losses, total	(49)	(2)
Government agency issued CMO
Unrealized Losses
Fair value, less than 12 months	1,436	586
Unrealized losses, less than 12 months	(37)	(3)
Fair value, 12 months or longer	248	0
Unrealized loss, 12 months or longer	(10)	0
Fair value, total	1,684	586
Unrealized losses, total	(47)	(3)
Other U.S. government agencies
Unrealized Losses
Fair value, less than 12 months	459	80
Unrealized losses, less than 12 months	(11)	(1)
Fair value, 12 months or longer	90	0
Unrealized loss, 12 months or longer	(4)	0
Fair value, total	549	80
Unrealized losses, total	(15)	(1)
States and municipalities
Unrealized Losses
Fair value, less than 12 months	68	1
Unrealized losses, less than 12 months	(1)	0
Fair value, 12 months or longer	0	0
Unrealized loss, 12 months or longer	0	0
Fair value, total	68	1
Unrealized losses, total	$ (1)	$ 0

Loans and Leases - Narrative (D

Loans and Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest	$ 134	$ 180
Net loans and leases	54,189	57,269
Loans and leases	54,859	58,232
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans pledged to secure potential borrowings	6,900	7,800
Loans and leases	$ 31,068	33,104
Commercial | Minimum | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loan grades	1
Commercial | Maximum | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loan grades	16
Commercial | C&I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	$ 31,068	33,104
Commercial | C&I | Loans to mortgage companies
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	$ 4,518	5,404
Percentage contributed	26.00%
Commercial | C&I | Finance And Insurance Companies
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	$ 3,500
Commercial | Loans to mortgage companies
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	4,518	5,404
Asset Pledged as Collateral
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net loans and leases	$ 36,600	$ 38,600

Loans and Leases - Schedule Of

Loans and Leases - Schedule Of Loans By Portfolio Segment (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	$ 54,859	$ 58,232
Allowance for loan and lease losses	(670)	(963)	$ (200)	$ (180)
Net loans and leases	54,189	57,269
Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property, plant, and equipment and finance leases	792	587
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	31,068	33,104
Commercial | Commercial and Industrial, Excluding Loans to Mortgage Companies
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	26,550	27,700
Commercial | Loans to mortgage companies
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	4,518	5,404
Commercial | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	31,068	33,104
Allowance for loan and lease losses	(334)	(453)	(123)	(99)
Commercial | Commercial and industrial | Paycheck Protection Plan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	1,000	4,100
Commercial | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	12,109	12,275
Allowance for loan and lease losses	(154)	(242)	(36)	(31)
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	10,772	11,725
Consumer | HELOC
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	1,964	2,420
Consumer | Real estate installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	8,808	9,305
Consumer | Credit card and other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	910	1,128
Allowance for loan and lease losses	$ (19)	$ (26)	$ (13)	$ (13)

Loans and Leases - Balances Of

Loans and Leases - Balances Of Commercial Loan Portfolio Classes, Disaggregated By PD Grade (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	$ 54,859,000,000	$ 58,232,000,000
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	31,068,000,000	33,104,000,000
C&I | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	7,421,000,000	9,331,000,000
Financing receivable, originated year two	3,676,000,000	5,308,000,000
Financing receivable, originated year three	3,556,000,000	2,812,000,000
Financing receivable, originated year four	1,606,000,000	1,829,000,000
Financing receivable, originated year five	1,253,000,000	1,240,000,000
Financing receivable, originated prior to year five	2,358,000,000	2,267,000,000
LMC, Non-Revolving Loans	4,518,000,000	5,404,000,000
Revolving loans	6,615,000,000	4,793,000,000
Revolving Loans converted to term loans	65,000,000	120,000,000
Loans and leases	31,068,000,000	33,104,000,000
Revolving loans converted to term loan during period	0	50,000,000
C&I | PD Grade 1 -12 | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	7,372,000,000	9,060,000,000
Financing receivable, originated year two	3,576,000,000	5,138,000,000
Financing receivable, originated year three	3,439,000,000	2,628,000,000
Financing receivable, originated year four	1,455,000,000	1,748,000,000
Financing receivable, originated year five	1,193,000,000	1,161,000,000
Financing receivable, originated prior to year five	2,267,000,000	2,145,000,000
LMC, Non-Revolving Loans	4,518,000,000	5,404,000,000
Revolving loans	6,386,000,000	4,571,000,000
Revolving Loans converted to term loans	13,000,000	60,000,000
Loans and leases	30,219,000,000	31,915,000,000
C&I | PD Grades 13 | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	25,000,000	89,000,000
Financing receivable, originated year two	39,000,000	93,000,000
Financing receivable, originated year three	50,000,000	70,000,000
Financing receivable, originated year four	48,000,000	31,000,000
Financing receivable, originated year five	36,000,000	37,000,000
Financing receivable, originated prior to year five	43,000,000	64,000,000
LMC, Non-Revolving Loans	0	0
Revolving loans	100,000,000	127,000,000
Revolving Loans converted to term loans	4,000,000	1,000,000
Loans and leases	345,000,000	512,000,000
C&I | PD Grades 14 15 16 | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	24,000,000	182,000,000
Financing receivable, originated year two	61,000,000	77,000,000
Financing receivable, originated year three	67,000,000	114,000,000
Financing receivable, originated year four	103,000,000	50,000,000
Financing receivable, originated year five	24,000,000	42,000,000
Financing receivable, originated prior to year five	48,000,000	58,000,000
LMC, Non-Revolving Loans	0	0
Revolving loans	129,000,000	95,000,000
Revolving Loans converted to term loans	48,000,000	59,000,000
Loans and leases	504,000,000	677,000,000
Commercial real estate | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	12,109,000,000	12,275,000,000
Commercial real estate | CRE (b) | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	3,492,000,000	2,555,000,000
Financing receivable, originated year two	2,091,000,000	3,348,000,000
Financing receivable, originated year three	2,590,000,000	1,888,000,000
Financing receivable, originated year four	1,057,000,000	1,257,000,000
Financing receivable, originated year five	744,000,000	1,044,000,000
Financing receivable, originated prior to year five	1,919,000,000	1,887,000,000
Revolving loans	216,000,000	277,000,000
Revolving Loans converted to term loans	0	19,000,000
Loans and leases	12,109,000,000	12,275,000,000
Commercial real estate | PD Grade 1 -12 | CRE (b) | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	3,441,000,000	2,477,000,000
Financing receivable, originated year two	2,065,000,000	3,311,000,000
Financing receivable, originated year three	2,514,000,000	1,750,000,000
Financing receivable, originated year four	929,000,000	1,140,000,000
Financing receivable, originated year five	691,000,000	946,000,000
Financing receivable, originated prior to year five	1,822,000,000	1,800,000,000
Revolving loans	204,000,000	259,000,000
Revolving Loans converted to term loans	0	19,000,000
Loans and leases	11,666,000,000	11,702,000,000
Commercial real estate | PD Grades 13 | CRE (b) | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	4,000,000	48,000,000
Financing receivable, originated year two	26,000,000	24,000,000
Financing receivable, originated year three	52,000,000	117,000,000
Financing receivable, originated year four	125,000,000	75,000,000
Financing receivable, originated year five	20,000,000	71,000,000
Financing receivable, originated prior to year five	65,000,000	54,000,000
Revolving loans	0	0
Revolving Loans converted to term loans	0	0
Loans and leases	292,000,000	389,000,000
Commercial real estate | PD Grades 14 15 16 | CRE (b) | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	47,000,000	30,000,000
Financing receivable, originated year two	0	13,000,000
Financing receivable, originated year three	24,000,000	21,000,000
Financing receivable, originated year four	3,000,000	42,000,000
Financing receivable, originated year five	33,000,000	27,000,000
Financing receivable, originated prior to year five	32,000,000	33,000,000
Revolving loans	12,000,000	18,000,000
Revolving Loans converted to term loans	0	0
Loans and leases	$ 151,000,000	$ 184,000,000

Loans and Leases - Loans by FIC

Loans and Leases - Loans by FICO Score, Consumer (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	$ 54,859	$ 58,232
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	10,772	11,725
Consumer real estate | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	2,205	1,747
Financing receivable, originated year two	1,690	1,670
Financing receivable, originated year three	1,232	1,093
Financing receivable, originated year four	763	920
Financing receivable, originated year five	585	1,054
Financing receivable, originated prior to year five	2,333	2,821
Revolving loans	1,701	2,055
Revolving Loans converted to term loans	263	365
Loans and leases	10,772	11,725
Consumer real estate | Consumer | HELOC
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	1,964	2,420
Revolving loans converted to term loan during period	43	36
Consumer real estate | Consumer | FICO score 740 or greater
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	1,594	1,186
Financing receivable, originated year two	1,156	1,167
Financing receivable, originated year three	825	703
Financing receivable, originated year four	473	610
Financing receivable, originated year five	394	674
Financing receivable, originated prior to year five	1,335	1,719
Revolving loans	1,086	1,275
Revolving Loans converted to term loans	115	159
Loans and leases	6,978	7,493
Consumer real estate | Consumer | FICO score 720-739
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	236	157
Financing receivable, originated year two	171	158
Financing receivable, originated year three	109	100
Financing receivable, originated year four	61	77
Financing receivable, originated year five	44	92
Financing receivable, originated prior to year five	209	197
Revolving loans	162	186
Revolving Loans converted to term loans	21	29
Loans and leases	1,013	996
Consumer real estate | Consumer | FICO score 700-719
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	143	122
Financing receivable, originated year two	112	107
Financing receivable, originated year three	81	78
Financing receivable, originated year four	68	76
Financing receivable, originated year five	45	73
Financing receivable, originated prior to year five	153	221
Revolving loans	141	177
Revolving Loans converted to term loans	23	34
Loans and leases	766	888
Consumer real estate | Consumer | FICO score 660-699
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	164	130
Financing receivable, originated year two	131	141
Financing receivable, originated year three	120	123
Financing receivable, originated year four	106	75
Financing receivable, originated year five	44	85
Financing receivable, originated prior to year five	246	296
Revolving loans	204	264
Revolving Loans converted to term loans	44	59
Loans and leases	1,059	1,173
Consumer real estate | Consumer | FICO score 620-659
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	42	45
Financing receivable, originated year two	36	61
Financing receivable, originated year three	55	37
Financing receivable, originated year four	23	28
Financing receivable, originated year five	13	35
Financing receivable, originated prior to year five	118	127
Revolving loans	66	92
Revolving Loans converted to term loans	27	36
Loans and leases	380	461
Consumer real estate | Consumer | FICO score less than 620
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	26	107
Financing receivable, originated year two	84	36
Financing receivable, originated year three	42	52
Financing receivable, originated year four	32	54
Financing receivable, originated year five	45	95
Financing receivable, originated prior to year five	272	261
Revolving loans	42	61
Revolving Loans converted to term loans	33	48
Loans and leases	576	714
Credit card and other | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	131	122
Financing receivable, originated year two	57	91
Financing receivable, originated year three	47	107
Financing receivable, originated year four	44	78
Financing receivable, originated year five	31	63
Financing receivable, originated prior to year five	155	279
Revolving loans	426	373
Revolving Loans converted to term loans	19	15
Loans and leases	910	1,128
Revolving loans converted to term loan during period	9
Credit card and other | Consumer | FICO score 740 or greater
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	56	57
Financing receivable, originated year two	35	52
Financing receivable, originated year three	29	59
Financing receivable, originated year four	23	37
Financing receivable, originated year five	13	23
Financing receivable, originated prior to year five	56	116
Revolving loans	200	159
Revolving Loans converted to term loans	11	5
Loans and leases	423	508
Credit card and other | Consumer | FICO score 720-739
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	14	7
Financing receivable, originated year two	5	7
Financing receivable, originated year three	4	9
Financing receivable, originated year four	3	8
Financing receivable, originated year five	4	8
Financing receivable, originated prior to year five	17	27
Revolving loans	46	91
Revolving Loans converted to term loans	3	2
Loans and leases	96	159
Credit card and other | Consumer | FICO score 700-719
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	8	9
Financing receivable, originated year two	5	8
Financing receivable, originated year three	4	9
Financing receivable, originated year four	4	8
Financing receivable, originated year five	3	4
Financing receivable, originated prior to year five	17	38
Revolving loans	42	37
Revolving Loans converted to term loans	1	3
Loans and leases	84	116
Credit card and other | Consumer | FICO score 660-699
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	25	30
Financing receivable, originated year two	6	12
Financing receivable, originated year three	5	15
Financing receivable, originated year four	6	9
Financing receivable, originated year five	4	9
Financing receivable, originated prior to year five	31	48
Revolving loans	98	46
Revolving Loans converted to term loans	2	3
Loans and leases	177	172
Credit card and other | Consumer | FICO score 620-659
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	4	5
Financing receivable, originated year two	3	5
Financing receivable, originated year three	2	7
Financing receivable, originated year four	4	5
Financing receivable, originated year five	3	10
Financing receivable, originated prior to year five	18	24
Revolving loans	22	20
Revolving Loans converted to term loans	1	1
Loans and leases	57	77
Credit card and other | Consumer | FICO score less than 620
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, originated year one	24	14
Financing receivable, originated year two	3	7
Financing receivable, originated year three	3	8
Financing receivable, originated year four	4	11
Financing receivable, originated year five	4	9
Financing receivable, originated prior to year five	16	26
Revolving loans	18	20
Revolving Loans converted to term loans	1	1
Loans and leases	$ 73	$ 96

Loans and Leases - Accruing And

Loans and Leases - Accruing And Non-Accruing Loans By Class (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	$ 54,436	$ 57,730
Total Accruing	54,584	57,847
Current, Non-Accruing	182	205
Total Non-Accruing	275	386
Loans and leases	54,859	58,232
30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	108	100
Past Due, Non-Accruing	7	66
90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	40	17
Past Due, Non-Accruing	86	115
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	31,068	33,104
Commercial | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	30,885	32,945
Total Accruing	30,943	32,960
Current, Non-Accruing	97	88
Total Non-Accruing	125	144
Loans and leases	31,068	33,104
Commercial | Commercial and industrial | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	53	15
Past Due, Non-Accruing	1	12
Commercial | Commercial and industrial | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	5	0
Past Due, Non-Accruing	27	44
Commercial | Commercial and industrial | C&I (a)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	26,367	27,541
Total Accruing	26,425	27,556
Current, Non-Accruing	97	88
Total Non-Accruing	125	144
Loans and leases	26,550	27,700
Nonaccrual, no allowance	99	101
Commercial | Commercial and industrial | C&I (a) | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	53	15
Past Due, Non-Accruing	1	12
Commercial | Commercial and industrial | C&I (a) | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	5	0
Past Due, Non-Accruing	27	44
Commercial | Commercial and industrial | Loans to mortgage companies
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	4,518	5,404
Total Accruing	4,518	5,404
Current, Non-Accruing	0	0
Total Non-Accruing	0	0
Loans and leases	4,518	5,404
Commercial | Commercial and industrial | Loans to mortgage companies | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	0	0
Past Due, Non-Accruing	0	0
Commercial | Commercial and industrial | Loans to mortgage companies | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	0	0
Past Due, Non-Accruing	0	0
Commercial | Commercial and industrial | CRE (b)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual, no allowance	5
Commercial | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	12,109	12,275
Commercial | Commercial real estate | CRE (b)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	12,087	12,194
Total Accruing	12,100	12,217
Current, Non-Accruing	6	10
Total Non-Accruing	9	58
Loans and leases	12,109	12,275
Commercial | Commercial real estate | CRE (b) | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	13	23
Past Due, Non-Accruing	1	42
Commercial | Commercial real estate | CRE (b) | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	0	0
Past Due, Non-Accruing	2	6
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	10,772	11,725
Consumer | Consumer real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	10,564	11,474
Total Accruing	10,634	11,543
Current, Non-Accruing	78	106
Total Non-Accruing	138	182
Loans and leases	10,772	11,725
Consumer | Consumer real estate | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	37	53
Past Due, Non-Accruing	5	12
Consumer | Consumer real estate | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	33	16
Past Due, Non-Accruing	55	64
Consumer | Consumer real estate | HELOC (c)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	1,906	2,336
Total Accruing	1,919	2,360
Current, Non-Accruing	34	43
Total Non-Accruing	45	60
Loans and leases	1,964	2,420
Nonaccrual, no allowance	7
Consumer | Consumer real estate | HELOC (c) | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	7	13
Past Due, Non-Accruing	2	3
Consumer | Consumer real estate | HELOC (c) | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	6	11
Past Due, Non-Accruing	9	14
Consumer | Consumer real estate | Real estate installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	8,658	9,138
Total Accruing	8,715	9,183
Current, Non-Accruing	44	63
Total Non-Accruing	93	122
Loans and leases	8,808	9,305
Nonaccrual, no allowance	50
Consumer | Consumer real estate | Real estate installment loans | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	30	40
Past Due, Non-Accruing	3	9
Consumer | Consumer real estate | Real estate installment loans | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	27	5
Past Due, Non-Accruing	46	50
Consumer | Credit Card and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	900	1,117
Total Accruing	907	1,127
Current, Non-Accruing	1	1
Total Non-Accruing	3	2
Loans and leases	910	1,128
Consumer | Credit Card and Other | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	5	9
Past Due, Non-Accruing	0	0
Consumer | Credit Card and Other | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	2	1
Past Due, Non-Accruing	2	1
Consumer | Credit Card and Other | Credit card
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	292	279
Total Accruing	296	283
Current, Non-Accruing	0	0
Total Non-Accruing	0	0
Loans and leases	296	283
Consumer | Credit Card and Other | Credit card | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	2	3
Past Due, Non-Accruing	0	0
Consumer | Credit Card and Other | Credit card | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	2	1
Past Due, Non-Accruing	0	0
Consumer | Credit Card and Other | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	608	838
Total Accruing	611	844
Current, Non-Accruing	1	1
Total Non-Accruing	3	2
Loans and leases	614	845
Consumer | Credit Card and Other | Other | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	3	6
Past Due, Non-Accruing	0	0
Consumer | Credit Card and Other | Other | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due, Accruing	0	0
Past Due, Non-Accruing	$ 2	$ 1

Loans and Leases - Collateral-D

Loans and Leases - Collateral-Dependent Loans Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, allowance for credit loss, writeoff, collateral	$ 1,000,000	$ 0
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, collateral for secured borrowings	120,000,000	167,000,000
C&I (a)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, allowance for credit loss, writeoff, collateral	26,000,000	36,000,000
C&I (a) | Commercial | C&I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, collateral for secured borrowings	115,000,000
CRE (b) | Commercial | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, collateral for secured borrowings	5,000,000
HELOC
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, collateral for secured borrowings	7,000,000	9,000,000
Real estate installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, collateral for secured borrowings	$ 20,000,000	$ 26,000,000

Loans and Leases - Troubled Deb

Loans and Leases - Troubled Debt Restructuring Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Troubled debt restructurings loans	$ 206	$ 307
Loans Held For Sale, Residential Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Troubled debt restructurings loans	$ 35	$ 42
Consumer | Consumer real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDRS maturities	30 years
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 | 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, 2021USD ($)loan	Dec. 31, 2020USD ($)loan
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	196	368
Pre-Modification Outstanding Recorded Investment	$ 66	$ 236
Post-Modification Outstanding Recorded Investment	$ 61	$ 228
Consumer | Credit card and other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	51	56
Pre-Modification Outstanding Recorded Investment	$ 0	$ 1
Post-Modification Outstanding Recorded Investment	$ 0	$ 1
C&I (a) | Commercial | C&I
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	32	112
Pre-Modification Outstanding Recorded Investment	$ 37	$ 195
Post-Modification Outstanding Recorded Investment	$ 34	$ 188
CRE (b) | Commercial | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	1	19
Pre-Modification Outstanding Recorded Investment	$ 12	$ 15
Post-Modification Outstanding Recorded Investment	$ 10	$ 15
HELOC (c) | Consumer | Consumer real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	25	64
Pre-Modification Outstanding Recorded Investment	$ 3	$ 5
Post-Modification Outstanding Recorded Investment	$ 3	$ 5
Real estate installment loans | Consumer | Consumer real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	87	117
Pre-Modification Outstanding Recorded Investment	$ 14	$ 20
Post-Modification Outstanding Recorded Investment	$ 14	$ 19

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, 2021USD ($)loan	Dec. 31, 2020USD ($)loan
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	38	59
Recorded Investment | $	$ 29	$ 2
Consumer | Credit card and other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	4	24
Recorded Investment | $	$ 0	$ 0
C&I (a) | Commercial | C&I
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	18	9
Recorded Investment | $	$ 5	$ 1
CRE (b) | Commercial | C&I
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	6	0
Recorded Investment | $	$ 19	$ 0
HELOC | Consumer | Consumer real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	1	8
Recorded Investment | $	$ 0	$ 0
Real estate installment loans | Consumer | Consumer real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	9	18
Recorded Investment | $	$ 5	$ 1

Allowance for Credit Losses - N

Allowance for Credit Losses - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, allowance for credit loss, excluding accrued interest	$ 670	$ 963	$ 200	$ 180
COVID-19 Deferrals
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, allowance for credit loss, excluding accrued interest	$ 1	$ 1

Allowance for Credit Losses - R

Allowance for Credit Losses - Rollforward of Allowance for Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 963	$ 200	$ 180
Charge-offs	(59)	(156)	(59)
Recoveries	57	36	32
Initial allowance on loans purchased with credit deterioration		287
Provision for credit losses	(310)	503	45
Ending balance	670	963	$ 200	$ 180
Accounting Standards Update [Extensible List]			Accounting Standards Update 2016-13 [Member]	Accounting Standards Update 2016-02 [Member]
Loans and leases	54,859	58,232
Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		107
Ending balance			$ 107
Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		307
Ending balance			307
Financial Asset Acquired with Credit Deterioration
Allowance for Loan and Lease Losses [Roll Forward]
Additions in allowance for credit loss		287
Funded and Unfunded Loan Commitments
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	1,048	206
Ending balance	736	1,048	206
Funded Commitments
Allowance for Loan and Lease Losses [Roll Forward]
Provision for credit losses	(291)	489	47
Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	85	6	7
Provision for credit losses	(19)	14	(1)
Initial reserve on loans acquired		41
Ending balance	66	85	6	$ 7
Unfunded Commitment | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		24
Ending balance			24
Unfunded Commitment | Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		30
Ending balance			30
Commercial
Allowance for Loan and Lease Losses [Roll Forward]
Loans and leases	31,068	33,104
Commercial | C&I
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	453	123	99
Charge-offs	(34)	(129)	(34)
Recoveries	21	9	7
Initial allowance on loans purchased with credit deterioration		138
Ending balance	334	453	123	99
Loans and leases	31,068	33,104
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 | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		19
Ending balance			19
Commercial | C&I | Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		142
Ending balance			142
Commercial | C&I | Paycheck Protection Plan
Allowance for Loan and Lease Losses [Roll Forward]
Loans and leases	1,000	4,100
Commercial | C&I | Funded and Unfunded Loan Commitments
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	518	127
Ending balance	380	518	127
Commercial | C&I | Funded Commitments
Allowance for Loan and Lease Losses [Roll Forward]
Provision for credit losses	(106)	293	51
Commercial | C&I | Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	65	4	4
Provision for credit losses	(19)	32	0
Initial reserve on loans acquired		12
Ending balance	46	65	4	4
Commercial | C&I | Unfunded Commitment | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		17
Ending balance			17
Commercial | C&I | Unfunded Commitment | Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		21
Ending balance			21
Commercial | Commercial Real Estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	242	36	31
Charge-offs	(5)	(5)	(1)
Recoveries	5	4	1
Initial allowance on loans purchased with credit deterioration		100
Ending balance	154	242	36	31
Loans and leases	12,109	12,275
Commercial | Commercial Real Estate | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		(7)
Ending balance			(7)
Commercial | Commercial Real Estate | Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		29
Ending balance			29
Commercial | Commercial Real Estate | Funded and Unfunded Loan Commitments
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	252	38
Ending balance	166	252	38
Commercial | Commercial Real Estate | Funded Commitments
Allowance for Loan and Lease Losses [Roll Forward]
Provision for credit losses	(88)	114	5
Commercial | Commercial Real Estate | Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	10	2	3
Provision for credit losses	2	(19)	(1)
Initial reserve on loans acquired		26
Ending balance	12	10	2	3
Commercial | Commercial Real Estate | Unfunded Commitment | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		1
Ending balance			1
Commercial | Commercial Real Estate | Unfunded Commitment | Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		3
Ending balance			3
Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Loans and leases	10,772	11,725
Consumer | Consumer real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	242	28	37
Charge-offs	(5)	(8)	(8)
Recoveries	27	18	20
Initial allowance on loans purchased with credit deterioration		44
Ending balance	163	242	28	37
Loans and leases	10,772	11,725
Consumer | Consumer real estate | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		93
Ending balance			93
Consumer | Consumer real estate | Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		121
Ending balance			121
Consumer | Consumer real estate | Funded and Unfunded Loan Commitments
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	252	28
Ending balance	171	252	28
Consumer | Consumer real estate | Funded Commitments
Allowance for Loan and Lease Losses [Roll Forward]
Provision for credit losses	(101)	67	(21)
Consumer | Consumer real estate | Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	10	0	0
Provision for credit losses	(2)	1	0
Initial reserve on loans acquired		3
Ending balance	8	10	0	0
Consumer | Consumer real estate | Unfunded Commitment | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		6
Ending balance			6
Consumer | Consumer real estate | Unfunded Commitment | Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		6
Ending balance			6
Consumer | Credit card and other
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	26	13	13
Charge-offs	(15)	(14)	(16)
Recoveries	4	5	4
Initial allowance on loans purchased with credit deterioration		5
Ending balance	19	26	13	13
Loans and leases	910	1,128
Consumer | Credit card and other | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		2
Ending balance			2
Consumer | Credit card and other | Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		15
Ending balance			15
Consumer | Credit card and other | Funded and Unfunded Loan Commitments
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	26	13
Ending balance	19	26	13
Consumer | Credit card and other | Funded Commitments
Allowance for Loan and Lease Losses [Roll Forward]
Provision for credit losses	4	15	12
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	$ 0
Consumer | Credit card and other | Unfunded Commitment | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		0
Ending balance			0
Consumer | Credit card and other | Unfunded Commitment | Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		$ 0
Ending balance			$ 0

Premises, Equipment, and Leas_3

Premises, Equipment, and Leases - Summary of Premises and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Land	$ 163	$ 182
Buildings	543	594
Leasehold improvements	74	73
Furniture, fixtures, and equipment	276	269
Fixed assets held-for-sale	16	18
Total premises and equipment	1,072	1,136
Less accumulated depreciation and amortization	(407)	(377)
Premises and equipment, net	$ 665	$ 759

Premises, Equipment, and Leas_4

Premises, Equipment, and Leases - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Impairment losses	$ 37,000,000	$ 12,000,000
Gain/(loss) on sale of properties, before applicable income taxes	6,000,000
Direct financing and sale-type lease, interest income	26,000,000	11,000,000
Profit (loss) direct financing or sales-type leases	$ 0	$ 0
Minimum
Property, Plant and Equipment [Line Items]
Direct financing lease term	1 year
Sales-type lease term	1 year
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, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Operating lease right-of-use assets	$ 345	$ 367
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Finance lease right-of-use assets	$ 3	$ 4
Total lease right-of-use assets	$ 348	$ 371
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Operating lease liabilities	$ 382	$ 407
Finance Lease, Liability, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Finance lease liabilities	$ 4	$ 4
Total lease liabilities	$ 386	$ 411

Premises, Equipment, and Leas_6

Premises, Equipment, and Leases - Weighted Average Remaining Lease Terms and Discount Rate (Details)	Dec. 31, 2021	Dec. 31, 2020
Weighted Average Remaining Lease Terms
Weighed average remaining lease terms - operating leases	12 years 4 months 13 days	12 years 5 months 26 days
Weighed average remaining lease terms - finance leases	10 years 7 months 9 days	11 years 5 months 12 days
Weighted Average Discount Rate
Weighted average discount rate - operating leases	2.35%	2.39%
Weighted average discount rate - finance leases	2.85%	3.05%

Premises, Equipment, and Leas_7

Premises, Equipment, and Leases - Lease Expense and Other Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lease cost
Operating lease cost	$ 48	$ 39	$ 25
Sublease income	(1)	(1)	0
Total lease cost	47	38	25
Other information
(Gain) loss on right-of-use asset impairment - operating leases	3	6	3
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	53	41	23
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	19	216	48
Finance leases	$ 0	$ 2	$ 1

Premises, Equipment, and Leas_8

Premises, Equipment, and Leases - Maturity of Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
2022	$ 49
2023	45
2024	40
2025	39
2026	37
2027 and thereafter	238
Total lease payments	448
Less lease liability interest	(62)
Total lease liability	$ 386	$ 411

Premises, Equipment, and Leas_9

Premises, Equipment, and Leases - Net Investment in Leases (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Lease receivable	$ 729	$ 535
Unearned income	(135)	(108)
Guaranteed residual	97	92
Unguaranteed residual	102	68
Total net investment	$ 793	$ 587

Premises, Equipment, and Lea_10

Premises, Equipment, and Leases - Maturities of Lease Receivables (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
2022	$ 136
2023	122
2024	96
2025	73
2026	57
2027 and thereafter	245
Total future minimum lease payments	$ 729	$ 535

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Narrative (Details) $ in Millions	Jul. 01, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jul. 17, 2020USD ($)branch	Dec. 31, 2018USD ($)
Goodwill [Line Items]
Purchase accounting gain		$ (1)	$ 533	$ 0
Goodwill		1,511	1,511	1,433		$ 1,433
Amortization expense		56	40	$ 25
IBERIABANK (IBKC)
Goodwill [Line Items]
Purchase accounting gain	$ 531		$ 533
Truist Bank Branches
Goodwill [Line Items]
Number of branches acquired | branch					30
Goodwill		$ 78			$ 78

Goodwill and Other Intangible_4

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Goodwill, Beginning balance	$ 1,511	$ 1,433	$ 1,433
Additions	0	78	0
Goodwill, Ending balance	1,511	1,511	1,433
Regional Banking
Goodwill [Roll Forward]
Goodwill, Beginning balance	880	802	802
Additions	0	78	0
Goodwill, Ending balance	880	880	802
Specialty Banking
Goodwill [Roll Forward]
Goodwill, Beginning balance	631	631	631
Additions	0	0	0
Goodwill, Ending balance	$ 631	$ 631	$ 631

Goodwill and Other Intangible_5

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, 2021	Dec. 31, 2020
Intangible Assets [Line Items]
Gross Carrying Amount	$ 449	$ 449
Accumulated Amortization	(151)	(95)
Net Carrying Value	298	354
Core deposit intangibles
Intangible Assets [Line Items]
Gross Carrying Amount	371	371
Accumulated Amortization	(128)	(81)
Net Carrying Value	243	290
Client relationships
Intangible Assets [Line Items]
Gross Carrying Amount	37	37
Accumulated Amortization	(11)	(8)
Net Carrying Value	26	29
Other
Intangible Assets [Line Items]
Gross Carrying Amount	41	41
Accumulated Amortization	(12)	(6)
Net Carrying Value	$ 29	$ 35

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Schedule Of Estimated Aggregate Amortization Expense for Intangible Assets (Details) $ in Millions	Dec. 31, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 51
2023	48
2024	44
2025	38
2026	$ 33

Mortgage Banking Activity - Res

Mortgage Banking Activity - Residential Mortgage Loans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Loans Receivable Held-for-sale, Net, Reconciliation to Cash Flow [Roll Forward]
Beginning Balance	$ 1,022
Ending Balance	1,172	$ 1,022
First Horizon Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	45
Mortgage loans
Loans Receivable Held-for-sale, Net, Reconciliation to Cash Flow [Roll Forward]
Beginning Balance	409	4
Acquired	0	320
Originations and purchases	2,836	2,499
Sales, net of gains	(3,025)	(2,405)
Mortgage loans transferred from (to) held for investment	30	(9)
Ending Balance	$ 250	$ 409

Mortgage Banking Activity - Mor

Mortgage Banking Activity - Mortgage Servicing Rights (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Mortgage Banking [Line Items]
Gross  Carrying Amount	$ 39	$ 28
Accumulated Amortization	(9)	(3)
Net Carrying Amount	30	25
Mortgage banking and title income	154	129	$ 10
Mortgage banking and title income
Mortgage Banking [Line Items]
Mortgage banking and title income	$ 4	$ 2

Deposits - Composition of Depos

Deposits - Composition of Deposits (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Maturities of Time Deposits [Abstract]
Savings	$ 26,457	$ 27,324
Time deposits	3,500	5,070
Other interest-bearing deposits	17,055	15,415
Interest-bearing deposits	47,012	47,809
Noninterest-bearing deposits	27,883	22,173
Total deposits	$ 74,895	$ 69,982

Deposits - Narrative (Details)

Deposits - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Maturities of Time Deposits [Abstract]
Time deposits, at or above FDIC insurance limit	$ 859	$ 1,400
Time deposit uninsured	$ 515	$ 925

Deposits - Schedule of Maturiti

Deposits - Schedule of Maturities (Details) $ in Millions	Dec. 31, 2021USD ($)
Maturities of Time Deposits [Abstract]
2022	$ 3,006
2023	229
2024	115
2025	79
2026	43
2027	28
Total	$ 3,500

Short-Term Borrowings - Summary

Short-Term Borrowings - Summary of Short-Term Borrowings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Short-term Debt [Line Items]
Short-term borrowings	$ 2,124	$ 2,198
Trading Liabilities
Short-term Debt [Line Items]
Average balance	540	457	$ 503
Short-term borrowings	426	353	506
Maximum month-end outstanding	$ 685	$ 983	$ 754
Average rate for the year	1.11%	1.24%	2.48%
Average rate at year-end	1.62%	0.77%	2.07%
Federal Funds Purchased
Short-term Debt [Line Items]
Average balance	$ 949	$ 862	$ 738
Short-term borrowings	775	845	548
Maximum month-end outstanding	$ 1,037	$ 1,487	$ 1,282
Average rate for the year	0.12%	0.34%	2.08%
Average rate at year-end	0.10%	0.10%	1.55%
Securities Sold Under Agreements to Repurchase
Short-term Debt [Line Items]
Average balance	$ 1,235	$ 1,109	$ 701
Short-term borrowings	1,247	1,187	717
Maximum month-end outstanding	$ 1,615	$ 1,661	$ 772
Average rate for the year	0.30%	0.50%	2.07%
Average rate at year-end	0.11%	0.26%	1.72%
Other Short-term Borrowings
Short-term Debt [Line Items]
Average balance	$ 124	$ 626	$ 538
Short-term borrowings	102	166	2,253
Maximum month-end outstanding	$ 146	$ 4,061	$ 2,276
Average rate for the year	0.09%	0.84%	2.10%
Average rate at year-end	0.08%	0.09%	2.14%

Short-Term Borrowings - Narrati

Short-Term Borrowings - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Short-term Debt [Line Items]
Federal home loan bank, advances, maturity period	90 days
Trading liabilities maturity period (less than)	90 days
Other short-term borrowings maturity period (or less)	1 year
Fixed Income Securities
Short-term Debt [Line Items]
Securities pledged to secure other short term borrowings	$ 33

Term Borrowings - Schedule of I

Term Borrowings - Schedule of Information Pertaining To Term Borrowings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 1,590	$ 1,670
Junior Subordinated Debt
Debt Instrument [Line Items]
Debt term	30 years
First Horizon Bank | Senior Notes | Maturity date – May 1, 2030 - 5.75%
Debt Instrument [Line Items]
Term borrowings	$ 447	$ 447
Stated interest rate	5.75%	5.75%
First Horizon Bank | Collateralized By Loans | 0.50% on December 31, 2021 and 0.52% on December 31, 2020 (b)
Debt Instrument [Line Items]
Term borrowings	$ 87	$ 82
Effective interest rate	0.50%	0.52%
First Horizon Bank | Collateralized By Loans | Other collateralized borrowings - SBA loans
Debt Instrument [Line Items]
Term borrowings	$ 6	$ 15
Debt, weighted average interest rate	4.10%	3.90%
First Horizon Corporation | Senior Notes | Maturity date – May 26, 2023 - 3.55%
Debt Instrument [Line Items]
Term borrowings	$ 448	$ 447
Stated interest rate	3.55%	3.55%
First Horizon Corporation | Senior Notes | Maturity date – May 26, 2025 - 4.00%
Debt Instrument [Line Items]
Term borrowings	$ 349	$ 348
Stated interest rate	4.00%	4.00%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - July 31, 2031 - 3.51% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 0	$ 7
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	0	$ 9
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	0	$ 5
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	0	$ 9
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	0	$ 6
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	0	$ 8
Stated interest rate		2.25%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - June 28, 2035 - 1.88% on December 31, 2021 and 1.90% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 3	$ 3
Stated interest rate	1.88%	1.90%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - December 15, 2035 - 1.57% on December 31, 2021 and 1.59% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 18	$ 18
Stated interest rate	1.57%	1.59%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - March 15, 2036 - 1.60% on December 31, 2021 and 1.62% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 9	$ 9
Stated interest rate	1.60%	1.62%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - March 15, 2036 - 1.74% on December 31, 2021 and 1.76% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 12	$ 12
Stated interest rate	1.74%	1.76%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - June 30, 2036 - 1.54% on December 31, 2021 and 1.56% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 27	$ 27
Stated interest rate	1.54%	1.56%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - July 7, 2036 - 1.67% on December 31, 2021 and 1.79% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 18	$ 18
Stated interest rate	1.67%	1.79%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - October 7, 2036 - 1.88% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 0	$ 6
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	0	$ 10
Stated interest rate		1.84%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - June 15, 2037 - 1.85% on December 31, 2021 and 1.87% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 52	$ 51
Stated interest rate	1.85%	1.87%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - September 6, 2037 - 1.61% on December 31, 2021 and 1.66% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 9	$ 9
Stated interest rate	1.61%	1.66%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - September 15, 2037 - 1.65% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 0	$ 7
Stated interest rate		1.65%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - December 15, 2037 - 2.76% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	0	$ 10
Stated interest rate		2.76%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - December 15, 2037 - 2.97% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	0	$ 10
Stated interest rate		2.97%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - June 15, 2038 - 3.72% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	0	$ 6
Stated interest rate		3.72%
First Horizon Corporation | Notes Payable, Other Payables | New Market Tax Credit Investments
Debt Instrument [Line Items]
Term borrowings	59	$ 45
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	4 years
Minimum | First Horizon Corporation | Notes Payable, Other Payables | New Market Tax Credit Investments
Debt Instrument [Line Items]
Debt term	7 years
Debt, weighted average interest rate	0.93%	1.27%
Maximum | First Horizon Bank | Collateralized By Loans | Other collateralized borrowings - SBA loans
Debt Instrument [Line Items]
Debt term	25 years
Maximum | First Horizon Corporation | Notes Payable, Other Payables | New Market Tax Credit Investments
Debt Instrument [Line Items]
Debt term	35 years
Debt, weighted average interest rate	4.95%	4.95%

Term Borrowings - Schedule of A

Term Borrowings - Schedule of Annual Principal Repayment Requirements (Details) $ in Millions	Dec. 31, 2021USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2022	$ 0
2023	450
2024	6
2025	350
2026 and after	$ 807

Term Borrowings - Narrative (De

Term Borrowings - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Loss on debt extinguishment	$ (26)	$ 0	$ 0
Junior Subordinated Debt
Debt Instrument [Line Items]
Debt term	30 years
Debt redeemed	$ 94
Loss on debt extinguishment	$ (26)

Preferred Stock - Non-Cumulativ

Preferred Stock - Non-Cumulative Perpetual Preferred Stock (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)	26,750
Liquidation Amount	$ 538
Carrying Amount	$ 520	$ 470
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%
Preferred stock, shares outstanding (in shares)	0
Liquidation Amount	$ 0
Carrying Amount	$ 0	95
Series B
Class of Stock [Line Items]
Annual Dividend Rate	6.625%
Preferred stock, shares outstanding (in shares)	8,000
Liquidation Amount	$ 80
Carrying Amount	$ 77	77
Series C
Class of Stock [Line Items]
Annual Dividend Rate	6.60%
Preferred stock, shares outstanding (in shares)	5,750
Liquidation Amount	$ 58
Carrying Amount	$ 59	59
Series D
Class of Stock [Line Items]
Annual Dividend Rate	6.10%
Preferred stock, shares outstanding (in shares)	10,000
Liquidation Amount	$ 100
Carrying Amount	$ 94	94
Series E
Class of Stock [Line Items]
Annual Dividend Rate	6.50%
Preferred stock, shares outstanding (in shares)	1,500
Liquidation Amount	$ 150
Carrying Amount	$ 145	145
Series F
Class of Stock [Line Items]
Annual Dividend Rate	4.70%
Preferred stock, shares outstanding (in shares)	1,500
Liquidation Amount	$ 150
Carrying Amount	$ 145	$ 0

Preferred Stock - Narrative (De

Preferred Stock - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Preferred stock issuance	$ 145	$ 144
Carrying Amount	520	$ 470
Liquidation Amount	538
Call of preferred stock	$ 100
Preferred stock, shares issued (in shares)	26,750	26,250
Noncontrolling interest	$ 295	$ 295
Retained Earnings
Class of Stock [Line Items]
Call of preferred stock	5
Series F
Class of Stock [Line Items]
Preferred stock issuance	$ 150
Annual Dividend Rate	4.70%
Carrying Amount	$ 145	0
Liquidation Amount	$ 150
Series A
Class of Stock [Line Items]
Annual Dividend Rate	6.20%
Carrying Amount	$ 0	95
Liquidation Amount	0
Series A | Other Liabilities
Class of Stock [Line Items]
Liquidation Amount	$ 100
Preferred Class A
Class of Stock [Line Items]
Annual Dividend Rate	3.75%
Preferred stock, shares issued (in shares)	300,000
Liquidation preference per share (in dollars per share)	$ 1,000
Noncontrolling interest	$ 295	$ 295
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%
Liquidation preference per share (in dollars per share)	$ 1,000,000
Stock issued (in shares)	50
Preferred Class B | Non Affiliates | FT Real Estate Securities Company, Inc.
Class of Stock [Line Items]
Stock issued (in shares)	47

Regulatory Capital and Restri_3

Regulatory Capital and Restrictions - Schedule of Actual Capital Amounts and Ratios (Details) $ in Millions	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
First Horizon Corporation
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital, Actual Amount	$ 7,918	$ 7,935
Total Capital, Actual Ratio	0.1234	0.1257
Tier 1 Capital, Actual Amount	$ 7,088	$ 6,782
Tier 1 Capital, Actual Ratio	0.1104	0.1074
Common Equity Tier 1 Capital, Actual Amount	$ 6,367	$ 6,110
Common Equity Tier 1 Capital, Actual Ratio	9.92%	9.68%
Leverage, Actual Amount	$ 7,088	$ 6,782
Leverage, Actual Ratio	0.0808	0.0824
Total Capital, Capital Adequacy purposes, Amount	$ 5,135	$ 5,051
Total Capital, Capital Adequacy Purposes, Ratio	0.0800	0.0800
Tier 1 Capital, Capital Adequacy Purposes, Amount	$ 3,851	$ 3,788
Tier 1 Capital, Capital Adequacy Purposes, Ratio	0.0600	0.0600
Common Equity Tier 1 Capital, Capital Adequacy Purposes, Amount	$ 2,888	$ 2,841
Common Equity Tier 1 Capital, Capital Adequacy Purposes, Ratio	4.50%	4.50%
Leverage, Capital Adequacy Purposes, Amount	$ 3,507	$ 3,294
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	$ 7,893	$ 7,827
Total Capital, Actual Ratio	0.1241	0.1252
Tier 1 Capital, Actual Amount	$ 7,133	$ 6,832
Tier 1 Capital, Actual Ratio	0.1122	0.1093
Common Equity Tier 1 Capital, Actual Amount	$ 6,838	$ 6,537
Common Equity Tier 1 Capital, Actual Ratio	10.75%	10.46%
Leverage, Actual Amount	$ 7,133	$ 6,832
Leverage, Actual Ratio	0.0820	0.0836
Total Capital, Capital Adequacy purposes, Amount	$ 5,088	$ 5,001
Total Capital, Capital Adequacy Purposes, Ratio	0.0800	0.0800
Tier 1 Capital, Capital Adequacy Purposes, Amount	$ 3,816	$ 3,751
Tier 1 Capital, Capital Adequacy Purposes, Ratio	0.0600	0.0600
Common Equity Tier 1 Capital, Capital Adequacy Purposes, Amount	$ 2,862	$ 2,813
Common Equity Tier 1 Capital, Capital Adequacy Purposes, Ratio	4.50%	4.50%
Leverage, Capital Adequacy Purposes, Amount	$ 3,478	$ 3,268
Leverage, Capital Adequacy Purposes, Ratio	0.0400	0.0400
Total Capital, To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 6,360	$ 6,251
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	$ 5,088	$ 5,001
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	$ 4,134	$ 4,063
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	$ 4,348	$ 4,085
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, 2021USD ($)financialSubsidiary	Dec. 31, 2020USD ($)	Jan. 01, 2022USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Retained earnings	$ 2,891	$ 2,261
Dividend paid to parent company	$ 770	180
Number of financial subsidiaries with covered transactions | financialSubsidiary	2
First Horizon Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Retained earnings	$ 2,200
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	$ 812
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
840 Denning LLC
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Covered transactions	2
FHN Financial Securities Corp.
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Covered transactions	400
First Horizon Advisors, Inc.
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Covered transactions	51
All Affiliates Member
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Covered transactions	453
Minimum | First Horizon Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Vault cash included in cash reserves	$ 464	$ 397
Subsequent Event | First Horizon Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Positive (negative) amount available for dividend payments			$ 1,100

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, 2021	Dec. 31, 2020	Dec. 31, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		$ 8,307	$ 5,076	$ 4,786
Net unrealized gains (losses)		(149)	92	126
Amounts reclassified from AOCI		1	7	11
Other comprehensive income (loss)		(148)	99	137
Ending balance		8,494	8,307	5,076
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	[1]	(140)	(239)	(376)
Other comprehensive income (loss)	[1]	(148)	99	137
Ending balance	[1]	(288)	(140)	(239)
Securities AFS
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		108	31	(76)
Net unrealized gains (losses)		(144)	74	107
Amounts reclassified from AOCI		0	3	0
Other comprehensive income (loss)		(144)	77	107
Ending balance		(36)	108	31
Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		12	3	(12)
Net unrealized gains (losses)		(3)	15	11
Amounts reclassified from AOCI		(7)	(6)	4
Other comprehensive income (loss)		(10)	9	15
Ending balance		2	12	3
Pension and Post-retirement Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		(260)	(273)	(288)
Net unrealized gains (losses)		(2)	3	8
Amounts reclassified from AOCI		8	10	7
Other comprehensive income (loss)		6	13	15
Ending balance		$ (254)	$ (260)	$ (273)
[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, 2021	Dec. 31, 2020	Dec. 31, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Realized (gains) losses on cash flow hedges	$ 1,957	$ 1,722	$ 1,394
Amortization of prior service cost and net actuarial (gain) loss	193	141	114
Income tax expense	274	76	134
Total reclassification from AOCI	(1,010)	(857)	(452)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Total reclassification from AOCI	1	7	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	0	4	0
Income tax expense	0	(1)	0
Total reclassification from AOCI	0	3	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	(9)	(8)	5
Income tax expense	2	2	(1)
Total reclassification from AOCI	(7)	(6)	4
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	10	13	10
Income tax expense	(2)	(3)	(3)
Total reclassification from AOCI	$ 8	$ 10	$ 7

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax expense	$ 274	$ 76	$ 134
Net unrealized gains (losses) on pension and other postretirement plans	2	3	5
Net unrealized gains (losses) on securities available for sale	(46)	25	35
Net unrealized gains (losses) on cash flow hedges	(3)	3	5
Total	$ 227	$ 107	$ 179

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
Federal	$ 235	$ 80	$ 106
State	39	14	14
Deferred:
Federal	(1)	(15)	5
State	1	(3)	9
Total	$ 274	$ 76	$ 134

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax [Line Items]
Deferred tax assets after valuation allowance	$ 448
Net deferred tax assets (prior year less than)	52	$ 0
Gross deferred tax liabilities	396	471
Unrecognized tax benefits	92	70	$ 24
Unrecognized tax benefits that would impact effective tax rate	42
Interest and income taxes accrued	14	11
Penalties and interest expense	3	8
Maximum
Income Tax [Line Items]
Net deferred tax assets (prior year less than)	52	$ 1
Domestic Tax Authority and State and Local Jurisdiction
Income Tax [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	58
Domestic Tax Authority
Income Tax [Line Items]
Deferred tax assets after valuation allowance	38
State and Local Jurisdiction
Income Tax [Line Items]
Deferred tax assets after valuation allowance	$ 2

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Federal income tax rate	21.00%	21.00%	21.00%
Tax computed at statutory rate	$ 270	$ 196	$ 123
Increase (decrease) resulting from:
State income taxes, net of federal income tax benefit	32	9	15
Bank-owned life insurance	(7)	(6)	(5)
401(k) – employee stock ownership plan	(1)	(1)	(1)
Tax-exempt interest	(10)	(8)	(6)
Non-deductible expenses	8	13	11
LIHTC credits and benefits, net of amortization	(14)	(9)	(4)
Other tax credits	(4)	(5)	0
Other changes in unrecognized tax benefits	4	(9)	4
Purchase accounting gain	0	(112)	0
Other	(4)	8	(3)
Total	$ 274	$ 76	$ 134

Income Taxes - Schedule of Oper

Income Taxes - Schedule of Operating Loss and Tax Credit Carryforwards (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Tax Credit Carryforward [Line Items]
Federal loss carryforwards	$ 38	$ 44
State loss carryforwards	2	$ 9
Domestic Tax Authority | Expiring 2026-2035
Tax Credit Carryforward [Line Items]
Federal loss carryforwards	38
State and Local Jurisdiction | Expiring 2027-2040
Tax Credit Carryforward [Line Items]
State loss carryforwards	$ 2

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Loss reserves	$ 161	$ 205
Employee benefits	83	86
Accrued expenses	16	7
Depreciation and amortization	13	0
Lease liability	94	100
Federal loss carryforwards	38	44
State loss carryforwards	2	9
Investment in debt securities assets (ASC 320)	12	0
Other	29	20
Gross deferred tax assets	448	471
Deferred tax liabilities:
Depreciation and amortization	0	83
Investment in debt securities liabilities (ASC 320)	0	35
Equity investments	4	11
Other intangible assets	86	93
Prepaid expenses	18	15
ROU lease asset	85	89
Leasing	198	135
Other	5	10
Gross deferred tax liabilities	396	471
Net deferred tax assets	$ 52	$ 0

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 70	$ 24
Increases related to prior year tax positions	24	56
Increases related to current year tax positions	1	1
Settlements		(10)
Lapse of statutes	(3)	(1)
Ending balance	$ 92	$ 70

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net income	$ 1,010	$ 857	$ 452
Net income attributable to noncontrolling interest	11	12	11
Net income attributable to controlling interest	999	845	441
Preferred stock dividends	37	23	6
Net income available to common shareholders	$ 962	$ 822	$ 435
Weighted average common shares outstanding - basic (in shares)	546,354	432,125	313,637
Effect of dilutive securities (in shares)	4,887	1,592	2,020
Weighted average common shares outstanding - diluted (in shares)	551,241	433,717	315,657
Basic earnings per common share (in dollars per share)	$ 1.76	$ 1.90	$ 1.39
Diluted earnings per common share (in dollars per share)	$ 1.74	$ 1.89	$ 1.38

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, 2021	Dec. 31, 2020	Dec. 31, 2019
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)	$ 20.44	$ 17.47	$ 21.12
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Awards excluded from the calculation of diluted EPS (in shares)	1,366	4,595	2,359
Other Equity Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Awards excluded from the calculation of diluted EPS (in shares)	1,531	3,639	2,224

Contingencies and Other Discl_2

Contingencies and Other Disclosures (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Estimated litigation liability	$ 2,000,000
Accrued losses on loan repurchase exposure	17,000,000	$ 16,000,000
Minimum
Loss Contingencies [Line Items]
Estimated litigation liability	0
Maximum
Loss Contingencies [Line Items]
Estimated litigation liability	$ 1,000,000

Retirement Plans and Other Em_3

Retirement Plans and Other Employee Benefits - Narrative (Details)	12 Months Ended
	Dec. 31, 2021USD ($)pensionPlan	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Defined Benefit Plan Disclosure [Line Items]
Minimum required outstanding par value to each issue of bonds	$ 300,000,000
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 Disclosure [Line Items]
Employer contributions	$ 10,000,000	$ 4,000,000
Number of plans affected by interest credit ratings | pensionPlan	1
Funded status of the plans	$ 4,000,000	3,000,000
Qualified pension | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Estimated social security benefits age	65 years
Employer contributions	$ 6,000,000	0	$ 0
Funded status of the plans	37,000,000	41,000,000
Flexible Benefits Contribution
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	51,000,000	$ 37,000,000	$ 28,000,000
Nonqualified pension | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	5,000,000
Expected pension contribution	$ 5,000,000
Qualified pension/ postretirement benefits
Defined Benefit Plan Disclosure [Line Items]
Expected time horizon	30 years
Qualified pension/ postretirement benefits | Maximum
Defined Benefit Plan Disclosure [Line Items]
Term used for assumption calculation	30 years
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%

Retirement Plans and Other Em_4

Retirement Plans and Other Employee Benefits - Schedule of Assumptions Used in the Defined Benefit Plans (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Qualified pension
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan assumptions used calculating benefit obligation, discount rate	2.95%	2.63%	3.31%
Defined benefit plan assumptions used calculating net periodic benefit cost, discount rate	2.64%	3.31%	4.43%
Nonqualified pension
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan assumptions used calculating benefit obligation, discount rate	2.65%	2.24%	3.08%
Defined benefit plan assumptions used calculating net periodic benefit cost, discount rate	2.24%	3.08%	4.26%
Other nonqualified pension
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan assumptions used calculating benefit obligation, discount rate	1.99%	1.41%	2.57%
Defined benefit plan assumptions used calculating net periodic benefit cost, discount rate	1.41%	2.57%	3.83%
Postretirement benefits | Minimum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan assumptions used calculating benefit obligation, discount rate	2.43%	1.92%	2.85%
Defined benefit plan assumptions used calculating net periodic benefit cost, discount rate	1.93%	2.87%	4.04%
Postretirement benefits | Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan assumptions used calculating benefit obligation, discount rate	3.07%	2.81%	3.44%
Defined benefit plan assumptions used calculating net periodic benefit cost, discount rate	2.81%	3.44%	4.56%
Qualified pension/ postretirement benefits
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	2.30%	3.45%	4.80%
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	5.80%	6.40%	6.85%
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	1.00%	0.90%	0.05%

Retirement Plans and Other Em_5

Retirement Plans and Other Employee Benefits - Projected Benefit Obligation Affected by Interest Crediting Ratings (Details) - Pension Benefits - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, benefit obligation	$ 12	$ 15	$ 16
Interest crediting rate	9.07%	8.20%	9.66%

Retirement Plans and Other Em_6

Retirement Plans and Other Employee Benefits - Schedule Of Components Of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 17	$ 24	$ 30
Expected return on plan assets	(20)	(26)	(37)
Actuarial (gain) loss	10	13	10
Net periodic benefit cost	7	11	3
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

Retirement Plans and Other Em_7

Retirement Plans and Other Employee Benefits - Schedule of Benefit Obligation and Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Pension Benefits
Change in benefit obligation
Benefit obligation, beginning of year	$ 893	$ 836
Interest cost	17	24	$ 30
Actuarial (gain)/loss	(26)	70
Actual benefits paid	(39)	(37)
Benefit obligation, end of year	845	893	836
Change in plan assets
Fair value of plan assets, beginning of year	896	826
Actual return on plan assets	(18)	103
Employer contributions	10	4
Actual benefits paid – settlement payments	(3)	(36)
Actual benefits paid – other payments	(2)	(1)
Premium paid for annuity purchase	(34)	0
Fair value of plan assets, end of year	849	896	826
Funded (unfunded) status of the plans	4	3
Amounts recognized in the Balance Sheets
Other assets	37	40
Other liabilities	(33)	(37)
Net asset (liability) at end of year	4	3
Other Benefits
Change in benefit obligation
Benefit obligation, beginning of year	46	42
Interest cost	1	1	1
Actuarial (gain)/loss	(5)	4
Actual benefits paid	(1)	(1)
Benefit obligation, end of year	41	46	42
Change in plan assets
Fair value of plan assets, beginning of year	23	20
Actual return on plan assets	3	3
Employer contributions	1	1
Actual benefits paid – settlement payments	(1)	(1)
Actual benefits paid – other payments	0	0
Premium paid for annuity purchase	0	0
Fair value of plan assets, end of year	26	23	$ 20
Funded (unfunded) status of the plans	(15)	(23)
Amounts recognized in the Balance Sheets
Other assets	23	20
Other liabilities	(38)	(43)
Net asset (liability) at end of year	$ (15)	$ (23)

Retirement Plans and Other Em_8

Retirement Plans and Other Employee Benefits - Funded (Unfunded) Status of Plan (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 33	$ 37
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 38	$ 43

Retirement Plans and Other Em_9

Retirement Plans and Other Employee Benefits - Schedule of Balances Reflected in AOCI On a Pre-Tax Basis (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net actuarial (gain) loss	$ 342	$ 342
Other Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net actuarial (gain) loss	$ (6)	$ 1

Retirement Plans and Other E_10

Retirement Plans and Other Employee Benefits - Schedule of Amounts Recognized in Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	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	$ 13	$ (8)	$ (14)
Items amortized during the measurement period:
Actuarial (gain)/loss	(10)	(13)	(10)
Total recognized in other comprehensive income	3	(21)	(24)
Other Benefits
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract]
Net actuarial (gain) loss arising during measurement period	(7)	3	5
Items amortized during the measurement period:
Actuarial (gain)/loss	0	0	0
Total recognized in other comprehensive income	$ (7)	$ 3	$ 5

Retirement Plans and Other E_11

Retirement Plans and Other Employee Benefits - Schedule of Expected Benefit Payment (Details) $ in Millions	Dec. 31, 2021USD ($)
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2022	$ 40
2023	42
2024	43
2025	45
2026	46
2027-2031	232
Other Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2022	2
2023	2
2024	2
2025	2
2026	2
2027-2031	$ 11

Retirement Plans and Other E_12

Retirement Plans and Other Employee Benefits - Schedule of Fair Value of Plan Assets (Details) - Pension Benefits - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 849	$ 896	$ 826
Cash equivalents and money market funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	45	23
U.S. treasuries
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	15	6
Corporate, municipal and foreign bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	445	488
Fixed income
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	344	379
Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	45	23
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	45	23
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	804	873
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	15	6
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	445	488
Level 2 | Fixed income
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	344	379
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

Retirement Plans and Other E_13

Retirement Plans and Other Employee Benefits - Schedule of Retiree Medical Plan Assets By Asset Category (Details) - Other Benefits - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 26	$ 23	$ 20
Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	26	23
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	17	15
Equity mutual funds | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	17	15
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	9	8
Fixed income mutual funds | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	9	8
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, 2021	Dec. 31, 2020	Dec. 31, 2019	Jul. 01, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)	4,330,371
Award vesting period	3 years
Percent of performance condition achieved	100.00%
Payment deferral period	2 years
Value of annual equity awards to non employee directors	$ 122,000	$ 122,000
Value of annual equity awards to non employee directors future periods				$ 122,000
Total intrinsic value of options exercised	$ 12,000,000	$ 3,000,000	$ 4,000,000
Stock options granted or converted (in shares)	155,124	4,182,737	530,787
Grants in period, weighted average grant date fair value (in dollars per share)	$ 3.39	$ 2.13	$ 2.69
Stock-based compensation expense	$ 43,000,000	$ 32,000,000	$ 22,000,000
Total income tax benefits recognized	$ 10,000,000	8,000,000	6,000,000
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	$ 73,000,000
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	2 years
Total grant date fair value of shares vested	$ 36,000,000	$ 24,000,000	$ 15,000,000
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	7 years
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 8 months 12 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
Shares outstanding (in shares)	461,142
Equity Compensation Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for new awards (in shares)	12,329,976
Performance Condition Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Duration of performance evaluation	3 years	3 years	3 years
Performance Condition Awards | PSUs Granted Between 2014 And 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Post vest holding period	2 years
Percent of performance condition achieved	133.30%	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 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, 2021	Dec. 31, 2020	Dec. 31, 2019
Shares/ Units:
Beginning balance (in shares)	8,270,216
Shares/units granted (in shares)	4,330,371
Shares/units vested (in shares)	(637,689)
Shares/units cancelled (in shares)	(2,666,010)
Ending balance (in shares)	9,296,888	8,270,216
Weighted average grant date fair value (per share)
Nonvested beginning balance (in dollars per share)	$ 12.47
Shares/units granted (in dollars per share)	13.56	$ 12.47	$ 16.25
Shares/units vested (in dollars per share)	12.31
Shares/units canceled (in dollars per share)	13.05
Nonvested ending balance (in dollars per share)	$ 13.14	$ 12.47
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 Millions	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares
Options Outstanding
Beginning of period, outstanding (in shares) | shares	7,749,082
Options granted (in shares) | shares	155,124
Options exercised (in shares) | shares	(2,302,642)
Options expired/canceled (in shares) | shares	(620,635)
End of period, outstanding (in shares) | shares	4,980,929
Options exercisable (in shares) | shares	3,697,062
Options expected to vest (in shares) | shares	1,283,867
Weighted Average Exercise Price (per share)
Beginning of period, weighted average exercise price (in dollars per share) | $ / shares	$ 15.20
Options granted, weighted average exercise price (in dollars per share) | $ / shares	14.44
Options exercised, weighted average exercise price (in dollars per share) | $ / shares	11.88
Options expired/canceled, weighted average exercise price (in dollars per share) | $ / shares	22.44
End of period, weighted average exercise price (in dollars per share) | $ / shares	15.81
Options exercisable, weighted average exercise price (in dollars per share) | $ / shares	15.95
Options expected to vest, weighted average exercise price (in dollars per share) | $ / shares	$ 15.15
Outstanding, weighted average contractual term	3 years 11 months 26 days
Outstanding, aggregate intrinsic value | $	$ 7
Options exercisable, weighted average contractual term	3 years 6 months 3 days
Options exercisable, aggregate intrinsic value | $	$ 6
Options expected to vest, weighted average remaining contractual term	4 years 4 months 20 days
Options expected to vest, aggregate intrinsic value | $	$ 1

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility range, minimum	37.86%	23.32%	23.07%
Expected volatility range, maximum	39.02%	24.56%	26.45%
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	4.16%	3.77%	3.63%
Expected weighted-average lives of options granted	6 years 3 months 14 days	6 years 3 months	6 years 2 months 26 days
Expected weighted-average volatility	38.44%	23.94%	24.76%
Risk-free interest rate	0.62%	1.47%	2.53%

Business Segment Information -

Business Segment Information - Amounts of Consolidated Revenue, Expense, Tax and Assets (Details) - USD ($) $ in Millions	Jul. 01, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Net interest income (expense)		$ 1,994	$ 1,662	$ 1,210
Provision for credit losses		(310)	503	45
Noninterest income		1,076	1,492	654
Noninterest expense		2,096	1,718	1,233
Income before income taxes		1,284	933	586
Income tax expense (benefit)		274	76	134
Net income (loss)		1,010	857	452
Average assets		87,609	64,346	41,744
Depreciation and amortization		28	46	65
Expenditures for long-lived assets		37	379	49
Purchase accounting gain		(1)	533	0
Long-lived asset impairment				13
Expenses associated with rebranding initiatives				25
Charitable foundation contributions			41	11
Parent Company
Segment Reporting Information [Line Items]
Provision for credit losses		0	0	(1)
Income before income taxes		624	87	264
Income tax expense (benefit)		(35)	(18)	(19)
Depreciation and amortization		0	0	(1)
Visa Class B Shares
Segment Reporting Information [Line Items]
Derivative valuation adjustment		19
IBERIABANK (IBKC)
Segment Reporting Information [Line Items]
Purchase accounting gain	$ 531		533
Regional Banking
Segment Reporting Information [Line Items]
Net interest income (expense)		1,764	1,264	833
Provision for credit losses		(229)	392	24
Noninterest income		438	345	293
Noninterest expense		1,151	944	678
Income before income taxes		1,280	273	424
Income tax expense (benefit)		298	56	97
Net income (loss)		982	217	327
Average assets		45,445	32,782	18,236
Depreciation and amortization		(71)	(42)	22
Expenditures for long-lived assets		27	283	29
Purchase accounting gain		0	0
Specialty Banking
Segment Reporting Information [Line Items]
Net interest income (expense)		619	572	389
Provision for credit losses		(64)	116	37
Noninterest income		597	576	315
Noninterest expense		571	494	347
Income before income taxes		709	538	320
Income tax expense (benefit)		171	131	79
Net income (loss)		538	407	241
Average assets		20,803	19,822	15,517
Depreciation and amortization		(2)	4	14
Expenditures for long-lived assets		3	6	4
Purchase accounting gain		0	0
Corporate
Segment Reporting Information [Line Items]
Net interest income (expense)		(389)	(174)	(12)
Provision for credit losses		(17)	(5)	(16)
Noninterest income		41	571	46
Noninterest expense		374	280	208
Income before income taxes		(705)	122	(158)
Income tax expense (benefit)		(195)	(111)	(42)
Net income (loss)		(510)	233	(116)
Average assets		21,361	11,742	7,991
Depreciation and amortization		101	84	29
Expenditures for long-lived assets		7	90	16
Purchase accounting gain		(1)	533
Long-lived asset impairment		37	$ 13
Corporate | Visa Class B Shares
Segment Reporting Information [Line Items]
Derivative valuation adjustment		$ 19		$ 4

Business Segment Information _2

Business Segment Information - Disaggregation of Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Fixed income	$ 406	$ 423	$ 279
Deposit transactions and cash management	175	148	132
Mortgage banking and title income	154	129	10
Brokerage, management fees and commissions	88	66	55
Card and digital banking fees	78	60	49
Trust services and investment management	51	39	30
Other service charges and fees	44	26	21
Securities gains (losses), net	13	(6)	0
Purchase accounting gain	(1)	533	0
Other income (loss)	68	74	78
Total noninterest income	1,076	1,492	654
Underwriting, Portfolio Advisory, and Other Noninterest Income
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	44	39	34
Regional Banking
Disaggregation of Revenue [Line Items]
Fixed income	0	1	0
Deposit transactions and cash management	157	131	114
Mortgage banking and title income	0	0	0
Brokerage, management fees and commissions	88	66	55
Card and digital banking fees	67	50	41
Trust services and investment management	51	39	30
Other service charges and fees	23	18	16
Securities gains (losses), net	0	0
Purchase accounting gain	0	0
Other income (loss)	52	40	37
Total noninterest income	438	345	293
Specialty Banking
Disaggregation of Revenue [Line Items]
Fixed income	406	422	278
Deposit transactions and cash management	12	11	11
Mortgage banking and title income	152	128	8
Brokerage, management fees and commissions	0	0	0
Card and digital banking fees	3	2	2
Trust services and investment management	0	0	0
Other service charges and fees	17	7	5
Securities gains (losses), net	0	0
Purchase accounting gain	0	0
Other income (loss)	7	6	11
Total noninterest income	597	576	315
Corporate
Disaggregation of Revenue [Line Items]
Fixed income	0	0	1
Deposit transactions and cash management	6	6	7
Mortgage banking and title income	2	1	2
Brokerage, management fees and commissions	0	0	0
Card and digital banking fees	8	8	6
Trust services and investment management	0	0	0
Other service charges and fees	4	1	0
Securities gains (losses), net	13	(6)
Purchase accounting gain	(1)	533
Other income (loss)	9	28	30
Total noninterest income	$ 41	$ 571	$ 46

Variable Interest Entities - Su

Variable Interest Entities - Summary of VIE Consolidated By FHN (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Assets:
Other assets	$ 3,542	$ 4,062
Liabilities:
Other liabilities	1,563	1,699
Rabbi Trusts Used For Deferred Compensation Plans
Assets:
Other assets	205	195
Liabilities:
Other liabilities	$ 179	$ 165

Variable Interest Entities - _2

Variable Interest Entities - Summary of the Impact of Qualifying LIHTC Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
LIHTC credits and benefits, net of amortization	$ (14)	$ (9)	$ (4)
Low income housing tax credits
Variable Interest Entity [Line Items]
Amortization of qualifying LIHTC investments	26	23	15
LIHTC credits and benefits, net of amortization	(32)	(22)	(14)
Other tax benefits related to qualifying LIHTC investments
Variable Interest Entity [Line Items]
LIHTC credits and benefits, net of amortization	$ (7)	$ (10)	$ (6)

Variable Interest Entities - _3

Variable Interest Entities - Summary of VIE Not Consolidated By FHN (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Liability Recognized	$ 80,598	$ 75,902
Trading securities:	1,601	1,176
Securities held to maturity	712	10
Term borrowings	1,590	1,670
Low income housing partnerships
Variable Interest Entity [Line Items]
Maximum Loss Exposure	382	338
Maximum loss exposure, contractual funding commitments	129	132
Low income housing partnerships | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Liability Recognized	129	132
Low income housing partnerships | Other Assets
Variable Interest Entity [Line Items]
Maximum loss exposure, current investments	253	206
Other tax credit investments
Variable Interest Entity [Line Items]
Maximum Loss Exposure	77	64
Other tax credit investments | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Liability Recognized	56	42
Small issuer trust preferred holdings
Variable Interest Entity [Line Items]
Maximum Loss Exposure	195	210
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	27	32
Loans, net of unearned income	112	112
Trading securities:	2	2
Term borrowings	87	82
On-balance sheet trust preferred securitization | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Liability Recognized	87	82
Holdings of agency mortgage-backed securities
Variable Interest Entity [Line Items]
Maximum Loss Exposure	8,550	7,063
Trading securities:	526	845
Securities held to maturity	712
Securities available for sale at fair value	7,300	6,200
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	98	186
Maximum loss exposure, contractual funding commitments	4	10
Commercial loan troubled debt restructurings | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Liability Recognized	0	0
Commercial loan troubled debt restructurings | Other Assets
Variable Interest Entity [Line Items]
Maximum loss exposure, current investments	94	176
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	$ 167	$ 287

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Nov. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Oct. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Collateral cash payables		$ 184	$ 347
Total trading revenues		360	371	$ 228
Term borrowings		1,590	1,670
Hedged amount of foreign currency denominated loans		7	12
Derivative asset		323	765
Derivative liabilities, other		103	125
Visa Class B Shares
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liabilities related to sale		23	13
Derivative valuation adjustment		19
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		67	200
Net fair value of derivative liabilities with adjustable posting thresholds		26	5
Collateral received		205	320
Securities posted collateral		14	34
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		74	216
Net fair value of derivative liabilities with adjustable posting thresholds		30	17
Collateral received		213	343
Securities posted collateral		18	53
Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Collateral cash payables		181	327
Derivative asset		311	702
Derivative liabilities, other		93	60
Credit Risk Contract
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, notional amount		257	233
Derivative liability, notional amount		500	464
Embedded Derivative Financial Instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset		1	1
Derivative liabilities, other		1	1
Counterparties
Derivative Instruments, Gain (Loss) [Line Items]
Collateral cash receivables		181	280
Collateral cash payables		$ 102	$ 166
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
Debt redeemed	$ 500

Derivatives - Derivatives Assoc

Derivatives - Derivatives Associated with Fixed Income Trading Activities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Customer interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional	$ 3,587	$ 3,950
Assets	84	207
Liabilities	41	7
Offsetting upstream interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional	3,587	3,950
Assets	4	2
Liabilities	8	17
Option contracts purchased | Long
Derivative Instruments, Gain (Loss) [Line Items]
Notional	13
Assets	0
Liabilities	0
Forwards and futures purchased
Derivative Instruments, Gain (Loss) [Line Items]
Notional	4,430	10,795
Assets	2	62
Liabilities	9	0
Forwards and futures sold
Derivative Instruments, Gain (Loss) [Line Items]
Notional	5,044	11,633
Assets	10	1
Liabilities	$ 2	$ 65

Derivatives - Derivatives Ass_2

Derivatives - Derivatives Associated With Interest Rate Risk Management Activities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Customer interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional	$ 3,587	$ 3,950
Assets	84	207
Liabilities	41	7
Offsetting upstream interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional	3,587	3,950
Assets	4	2
Liabilities	8	17
Customer Interest Rate Contracts Hedging | Hedging Instruments And Hedged Items | Customer interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional	8,037	6,868
Assets	202	436
Liabilities	29	1
Customer Interest Rate Contracts Hedging | Hedging Instruments And Hedged Items | Offsetting upstream interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional	8,037	6,868
Assets	4	5
Liabilities	$ 15	$ 35

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Customer Interest Rate Contracts Hedging | Customer interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(losses) related to interest rate derivatives	$ (268)	$ 357	$ 92
Customer Interest Rate Contracts Hedging | Offsetting upstream interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(losses) related to interest rate derivatives	268	(357)	(92)
Debt Hedging | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(losses) related to interest rate derivatives	0	2	13
Debt Hedging | Term Borrowings
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(losses) related to term borrowings	$ 0	$ (2)	$ (13)

Derivatives - Derivatives Ass_3

Derivatives - Derivatives Associated With Cash Flow Hedges and Mortgage Banking Hedges (Details) - Hedging Instruments And Hedged Items - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Cash Flow Hedges | Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Variability in cash flows related to debt instruments (primarily loans)	$ 1,100	$ 1,250
Cash Flow Hedges | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional	1,100	1,250
Assets	13	32
Liabilities	0	0
Mortgage Banking Hedges | Interest Rate Lock
Derivative Instruments, Gain (Loss) [Line Items]
Notional	241	667
Assets	4	20
Liabilities	0	0
Mortgage Banking Hedges | Forward contracts written
Derivative Instruments, Gain (Loss) [Line Items]
Notional	404	725
Assets	0	0
Liabilities	$ 0	$ 6

Derivatives - Gains_(Losses) _2

Derivatives - Gains/(Losses) on Derivatives Associated with Cash Flow Hedges and Mortgage Banking Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(loss) expected to be reclassified to earnings in the next twelve months	$ 15
Cash Flow Hedges | Hedging Instruments And Hedged Items
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss), cash flow hedges	(3)	$ 15	$ 11
Gain (loss) reclassified from AOCI into interest income	(7)	(6)	4
Cash Flow Hedges | Hedging Instruments And Hedged Items | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss), cash flow hedges	29	3	$ 21
Mortgage Banking Hedges | Hedging Instruments And Hedged Items | Interest Rate Lock
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	15	15
Mortgage Banking Hedges | Hedging Instruments And Hedged Items | Forward contracts written
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	$ 11	$ (37)

Derivatives - Derivative Assets

Derivatives - Derivative Assets And Collateral Received (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Gross amounts of recognized assets	$ 323	$ 765
Gross amounts offset in the Balance Sheets	0	0
Net amounts of assets presented in the Statements of Condition	323	765
Derivative liabilities available for offset	(36)	(21)
Collateral received	(184)	(347)
Net amount	103	397
Derivative assets not subject to master netting agreements	2	4
Derivatives, interest rate contracts
Derivative [Line Items]
Gross amounts of recognized assets	311	702
Gross amounts offset in the Balance Sheets	0	0
Net amounts of assets presented in the Statements of Condition	311	702
Derivative liabilities available for offset	(32)	(7)
Collateral received	(181)	(327)
Net amount	98	368
Forward contracts
Derivative [Line Items]
Gross amounts of recognized assets	12	63
Gross amounts offset in the Balance Sheets	0	0
Net amounts of assets presented in the Statements of Condition	12	63
Derivative liabilities available for offset	(4)	(14)
Collateral received	(3)	(20)
Net amount	$ 5	$ 29

Derivatives - Derivative Liabil

Derivatives - Derivative Liabilities and Collateral Pledged (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Gross amounts of recognized liabilities	$ 103	$ 125
Gross  amounts offset in the Balance Sheets	0	0
Net amounts of liabilities presented in the Statements of Condition	103	125
Derivative assets available for offset	(36)	(21)
Collateral pledged	(39)	(82)
Net amount	28	22
Derivative liabilities not subject to master netting agreements	24	22
Derivatives, interest rate contracts
Derivative [Line Items]
Gross amounts of recognized liabilities	93	60
Gross  amounts offset in the Balance Sheets	0	0
Net amounts of liabilities presented in the Statements of Condition	93	60
Derivative assets available for offset	(32)	(7)
Collateral pledged	(38)	(31)
Net amount	23	22
Forward contracts
Derivative [Line Items]
Gross amounts of recognized liabilities	10	65
Gross  amounts offset in the Balance Sheets	0	0
Net amounts of liabilities presented in the Statements of Condition	10	65
Derivative assets available for offset	(4)	(14)
Collateral pledged	(1)	(51)
Net amount	$ 5	$ 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, 2021	Dec. 31, 2020
Securities Purchased under Agreements to Resell [Abstract]
Gross amounts of recognized assets	$ 488	$ 380
Gross amounts offset in the Balance Sheets	0	0
Net amounts of assets presented in the Balance Sheets	488	380
Offsetting securities sold under agreements to repurchase	(10)	0
Securities collateral (not recognized on FHN’s Balance Sheets)	(476)	(379)
Net amount	$ 2	$ 1

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, 2021	Dec. 31, 2020
Securities Sold under Agreements to Repurchase [Abstract]
Gross amounts of recognized liabilities	$ 1,247	$ 1,187
Gross amounts offset in the Balance Sheets	0	0
Net amounts of liabilities presented in the Balance Sheets	1,247	1,187
Offsetting securities purchased under agreements to resell	(10)	0
Securities/ government guaranteed loans collateral	(1,237)	(1,187)
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, 2021	Dec. 31, 2020
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	$ 1,247	$ 1,187
Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	1,247	1,187
Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	0	0
U.S. treasuries
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	33	284
U.S. treasuries | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	33	284
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	1,068	616
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	1,068	616
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	0
Government agency issued CMO
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase		10
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
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
Other U.S. government agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	31	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	31	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	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	115	126
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	115	126
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, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	$ 1,601	$ 1,176
Loans held-for-sale	258	405
Loans held for investment	0	16
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	258	405
Loans held for investment		16
Total securities available for sale	8,707	8,047
Total other assets	474	912
Total assets	11,040	10,556
Total other liabilities	128	149
Total liabilities	554	502
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	162	206
Total assets	162	206
Total other liabilities	11	71
Total liabilities	11	71
Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	230	393
Loans held for investment		0
Total securities available for sale	8,707	8,015
Total other assets	312	706
Total assets	10,812	10,290
Total other liabilities	94	64
Total liabilities	520	417
Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	28	12
Loans held for investment		16
Total securities available for sale	0	32
Total other assets	0	0
Total assets	66	60
Total other liabilities	23	14
Total liabilities	23	14
Deferred compensation mutual funds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	125	118
Deferred compensation mutual funds | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	125	118
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	25
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	25
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	12	63
Total other liabilities	11	71
Derivatives, forwards and futures | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	12	63
Total other liabilities	11	71
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	311	702
Total other liabilities	93	60
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	311	702
Total other liabilities	93	60
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	1	4
Total other liabilities	24	18
Derivatives, other | 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, other | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	1	4
Total other liabilities	1	4
Derivatives, other | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	0	0
Total other liabilities	23	14
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	5,055	3,812
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	5,055	3,812
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	2,257	2,406
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	2,257	2,406
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	850	684
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	850	684
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	545	460
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	545	460
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
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
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
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
Interest-only strips (elected fair value) | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale		32
Interest-only strips (elected fair value) | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale		0
Interest-only strips (elected fair value) | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale		0
Interest-only strips (elected fair value) | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale		32
Specialty Banking | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	1,601	1,176
Total trading liabilities	426	353
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	1,563	1,176
Total trading liabilities	426	353
Specialty Banking | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	38	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	85	81
Total trading liabilities	334	307
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	85	81
Total trading liabilities	334	307
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	464	633
Total trading liabilities	1
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	464	633
Total trading liabilities	1
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	62	212
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	62	212
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	276	62
Total trading liabilities		3
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
Total trading liabilities		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	276	62
Total trading liabilities		3
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
Total trading liabilities		0
Specialty Banking | States and municipalities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	34	7
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	34	7
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	642	181
Total trading liabilities	91	43
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	642	181
Total trading liabilities	91	43
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 | Interest-only strips (elected fair value) | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total trading liabilities	38
Specialty Banking | Interest-only strips (elected fair value) | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total trading liabilities	0
Specialty Banking | Interest-only strips (elected fair value) | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total trading liabilities	0
Specialty Banking | Interest-only strips (elected fair value) | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total trading liabilities	$ 38

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	$ (14)	$ (23)	$ (32)
Acquired		0
Total net gains (losses) included in net income	(19)	(1)	(4)
Purchases	0	0	0
Sales	0	0	0
Settlements	10	10	13
Net transfers into (out of) Level 3	0	0	0
Ending balance	(23)	(14)	(23)
Net unrealized gains (losses) included in net income	(19)	(1)	(4)
Trading securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0	1	2
Acquired		0
Total net gains (losses) included in net income		(1)	0
Purchases		0	0
Sales		0	0
Settlements		0	(1)
Net transfers into (out of) Level 3		0	0
Ending balance		0	1
Net unrealized gains (losses) included in net income		0	0
Interest-only strips
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	32	19	10
Acquired		0
Total net gains (losses) included in net income	3	(6)	(5)
Purchases	0	6	0
Sales	(68)	(11)	(47)
Settlements	0	0	0
Net transfers into (out of) Level 3	71	24	61
Ending balance	38	32	19
Net unrealized gains (losses) included in net income	(2)	(4)	(2)
Loans held for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	12	14	16
Acquired		0
Total net gains (losses) included in net income	1	1	2
Purchases	10	0	0
Sales	(18)	0	0
Settlements	(3)	(3)	(4)
Net transfers into (out of) Level 3	26	0	0
Ending balance	28	12	14
Net unrealized gains (losses) included in net income	1	1	2
Loans held for investment
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	16	0
Acquired		14
Total net gains (losses) included in net income	0	0
Purchases	0	0
Sales	0	(4)
Settlements	(2)	(3)
Net transfers into (out of) Level 3	(14)	9
Ending balance	0	16	$ 0
Net unrealized gains (losses) included in net income	$ 0	$ 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, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	$ 258	$ 405
Non Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, net of unearned income	84	77	$ 42
Other real estate owned (OREO)	3	15	16
Other assets	30	9	11
Net gains (losses) loans, net of unearned income	(13)	(12)	(7)
Net gains (losses) other real estate owned	(1)	(1)	(1)
Net gains (losses) other assets	(2)	(2)	(2)
Net gains (losses) financial assets	(18)	(18)	(12)
Non Recurring | SBAs and USDA
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	853	509	494
Net gains (losses) loans held-for-sale	(2)	(3)	(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 | 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 | SBAs and USDA
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	852	508	493
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	84	77	42
Other real estate owned (OREO)	3	15	16
Other assets	30	9	11
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, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Fair value, asset (liability), unrealized gain (loss), OCI	$ 0	$ 0	$ 0
Long-lived asset impairment			13,000,000
Corporate
Segment Reporting Information [Line Items]
Long-lived asset impairment	37,000,000	13,000,000
Disposition of Acquired Properties | Corporate
Segment Reporting Information [Line Items]
Long-lived asset impairment	34,000,000	7,000,000	4,000,000
Reversed asset impairment charges			1,000,000
2020 Business Optimization | Disposition of Acquired Properties | Corporate
Segment Reporting Information [Line Items]
Long-lived asset impairment	$ 3,000,000	$ 6,000,000
Rebranding Initiative
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, 2021USD ($)month	Dec. 31, 2020USD ($)month	Dec. 31, 2019USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	$ 258	$ 405
Derivative liabilities, other	103	125
Non Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets	30	9	$ 11
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities, other	23	14
Loans net of unearned income	84	77
OREO, fair value	3	15
Level 3 | Non Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets	30	9	$ 11
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
Loans Held For Sale - SBA | Level 3 | Small Business Administrations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	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	$ 30	$ 9
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 | Minimum | Discounted cash flow | Loans Held For Sale - SBA | Level 3 | Small Business Administrations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.08
Constant prepayment rate | Minimum | 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-sale, measurement input		0
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
Constant prepayment rate | Maximum | Discounted cash flow | Loans Held For Sale - SBA | Level 3 | Small Business Administrations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.12
Constant prepayment rate | Maximum | 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-sale, measurement input		0.26
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
Constant prepayment rate | Weighted Average | Discounted cash flow | Loans Held For Sale - SBA | Level 3 | Small Business Administrations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.10
Constant prepayment 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-sale, measurement input		0.11
Bond equivalent yield | Discounted cash flow | Loans Held For Sale - SBA | Level 3 | Small Business Administrations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.11
Bond equivalent yield | 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		0.07
Bond equivalent yield | 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		0.08
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
Bond equivalent yield | Weighted Average | Discounted cash flow | Loans Held For Sale - SBA | Level 3 | Small Business Administrations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.11
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	0.54	0.59
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	0.66	0.70
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	0.65	0.63
Loss severity trends - First mortgage | Minimum | 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-sale, measurement input		0
Loss severity trends - First mortgage | Maximum | 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-sale, measurement input		1
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-sale, measurement input		0.11
Constant default rate | Minimum | 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-sale, measurement input		0
Constant default rate | Maximum | 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-sale, measurement input		0.14
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-sale, measurement input		0.01
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	$ 5,800	$ 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	6,200	5,400
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	$ 6,000	$ 5,800
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	0.15	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	0.35	0.50
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	0.24	0.16
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	12	3
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	36	27
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	25	19
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
Marketability adjustments for specific properties | Minimum | Appraisals from comparable properties | Other Assets | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
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
Marketability adjustments for specific properties | Maximum | Appraisals from comparable properties | Other Assets | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
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 | Other Assets | 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 | Other Assets | 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	$ 29	$ 13
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	0.04	0.05
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	0.12	0.15
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	0.05
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	0.01	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	0.14	0.19
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	0.08	0.12
Interest-only strips | Trading Securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	$ 38
Interest-only strips | 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
Interest-only strips | Constant prepayment rate | 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
Interest-only strips | Constant prepayment rate | Minimum | Discounted cash flow | Trading Securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input	0.11
Interest-only strips | Constant prepayment rate | Maximum | Discounted cash flow | Trading 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
Interest-only strips | Constant prepayment rate | Weighted Average | Discounted cash flow | Trading Securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input	0.11
Interest-only strips | 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
Interest-only strips | Bond equivalent yield | Minimum | Discounted cash flow | Trading Securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input	0.11
Interest-only strips | Bond equivalent yield | Minimum | 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
Interest-only strips | Bond equivalent yield | Maximum | Discounted cash flow | Trading Securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input	0.14
Interest-only strips | Bond equivalent yield | Maximum | 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		0.17
Interest-only strips | Bond equivalent yield | Weighted Average | Discounted cash flow | Trading Securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input	0.11
Interest-only strips | 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

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, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held-for-sale	$ 258	$ 405
Loans held for investment	0	16
Fair value carrying amount less aggregate unpaid principal - Total loans		(1)
Nonaccrual loans		1
Fair value carrying amount less aggregate unpaid principal - Nonaccrual loans		0
Held for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held-for-sale	258	405
Fair value carrying amount less aggregate unpaid principal - Total loans	(6)	(37)
Nonaccrual loans	4	2
Fair value carrying amount less aggregate unpaid principal - Nonaccrual loans	(3)	(3)
Aggregate unpaid principal
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held for investment		17
Nonaccrual loans		1
Aggregate unpaid principal | Held for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held-for-sale	264	442
Nonaccrual loans	$ 7	$ 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, 2021	Dec. 31, 2020	Dec. 31, 2019
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	$ (10)	$ 4	$ 2

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, 2021	Dec. 31, 2020
Short-term financial assets:
Interest-bearing deposits with banks	$ 14,907	$ 8,351
Securities purchased under agreements to resell	488	380
Trading securities:	1,601	1,176
Loans held-for-sale	1,172	1,022
Securities held to maturity (fair value of $705 and $10, respectively)	712	10
Gross amounts of recognized assets	323	765
Other assets:
Total assets	89,092	84,209
Liabilities:
Trading liabilities	426	353
Short-term financial liabilities:
Securities sold under agreements to repurchase	1,247	1,187
Term borrowings:
Other long term borrowings	1,590	1,670
Gross amounts of recognized liabilities	103	125
Total liabilities	80,598	75,902
Level 3 | FHLB-Cincinnati Stock
Term borrowings:
Restricted investments	29	61
Level 3 | FRB Stock
Term borrowings:
Restricted investments	203	202
Reported Value Measurement
Assets
Total loans, net of unearned income and allowance for loan losses	54,189	57,269
Short-term financial assets:
Interest-bearing deposits with banks	14,907	8,351
Federal funds sold	153	65
Securities purchased under agreements to resell	488	380
Total short-term financial assets	15,548	8,796
Trading securities:	1,601	1,176
Loans held-for-sale	1,172	1,022
Securities available for sale at fair value	8,707	8,047
Securities held to maturity (fair value of $705 and $10, respectively)	712	10
Gross amounts of recognized assets	324	769
Other assets:
Tax credit investments	456	400
Deferred compensation mutual funds	125	118
Equity, mutual funds, and other	257	288
Total other assets	838	806
Total assets	83,091	77,895
Liabilities:
Defined maturity	3,500	5,070
Trading liabilities	426	353
Short-term financial liabilities:
Federal funds purchased	775	845
Securities sold under agreements to repurchase	1,247	1,187
Other short-term borrowings	102	166
Total short-term financial liabilities	2,124	2,198
Term borrowings:
Real estate investment trust-preferred	46	46
Term borrowings—new market tax credit investment	59	45
Secured borrowings	6	15
Junior subordinated debentures	148	238
Other long term borrowings	1,331	1,326
Total term borrowings	1,590	1,670
Gross amounts of recognized liabilities	128	149
Total liabilities	7,768	9,440
Reported Value Measurement | Commercial and industrial
Assets
Total loans, net of unearned income and allowance for loan losses	30,734	32,651
Reported Value Measurement | Commercial real estate
Assets
Total loans, net of unearned income and allowance for loan losses	11,955	12,033
Reported Value Measurement | Consumer real estate
Assets
Total loans, net of unearned income and allowance for loan losses	10,609	11,483
Reported Value Measurement | Credit Card and Other
Assets
Total loans, net of unearned income and allowance for loan losses	891	1,102
Reported Value Measurement | Mortgage Loans
Short-term financial assets:
Loans held-for-sale	258	405
Reported Value Measurement | Government guaranteed loans (SBA and USDA)
Short-term financial assets:
Loans held-for-sale	853	509
Reported Value Measurement | Other
Short-term financial assets:
Loans held-for-sale	24	31
Reported Value Measurement | Mortgage Loan - LOCOM
Short-term financial assets:
Loans held-for-sale	37	77
Estimate of Fair Value Measurement
Assets
Total loans, net of unearned income and allowance for loan losses	55,023	57,695
Short-term financial assets:
Interest-bearing deposits with banks	14,907	8,351
Federal funds sold	153	65
Securities purchased under agreements to resell	488	380
Total short-term financial assets	15,548	8,796
Trading securities:	1,601	1,176
Loans held-for-sale	1,175	1,025
Securities available for sale at fair value	8,707	8,047
Securities held to maturity (fair value of $705 and $10, respectively)	705	10
Gross amounts of recognized assets	324	769
Other assets:
Tax credit investments	450	371
Deferred compensation mutual funds	125	118
Equity, mutual funds, and other	257	288
Total other assets	832	777
Total assets	83,915	78,295
Liabilities:
Defined maturity	3,524	5,083
Trading liabilities	426	353
Short-term financial liabilities:
Federal funds purchased	775	845
Securities sold under agreements to repurchase	1,247	1,187
Other short-term borrowings	102	166
Total short-term financial liabilities	2,124	2,198
Term borrowings:
Real estate investment trust-preferred	47	47
Term borrowings—new market tax credit investment	58	45
Secured borrowings	6	15
Junior subordinated debentures	150	223
Other long term borrowings	1,452	1,455
Total term borrowings	1,713	1,785
Gross amounts of recognized liabilities	128	149
Total liabilities	7,915	9,568
Loan commitments	1	2
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	31,020	32,582
Estimate of Fair Value Measurement | Commercial real estate
Assets
Total loans, net of unearned income and allowance for loan losses	11,986	12,079
Estimate of Fair Value Measurement | Consumer real estate
Assets
Total loans, net of unearned income and allowance for loan losses	11,111	11,903
Estimate of Fair Value Measurement | Credit Card and Other
Assets
Total loans, net of unearned income and allowance for loan losses	906	1,131
Estimate of Fair Value Measurement | Mortgage Loans
Short-term financial assets:
Loans held-for-sale	258	405
Estimate of Fair Value Measurement | Government guaranteed loans (SBA and USDA)
Short-term financial assets:
Loans held-for-sale	856	512
Estimate of Fair Value Measurement | Other
Short-term financial assets:
Loans held-for-sale	24	31
Estimate of Fair Value Measurement | Mortgage Loan - LOCOM
Short-term financial assets:
Loans held-for-sale	37	77
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	14,907	8,351
Federal funds sold	0	0
Securities purchased under agreements to resell	0	0
Total short-term financial assets	14,907	8,351
Trading securities:	0	0
Loans held-for-sale	0	0
Securities available for sale at fair value	0	0
Securities held to maturity (fair value of $705 and $10, respectively)	0	0
Gross amounts of recognized assets	12	63
Other assets:
Tax credit investments	0	0
Deferred compensation mutual funds	125	118
Equity, mutual funds, and other	25	25
Total other assets	150	143
Total assets	15,069	8,557
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	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	11	71
Total liabilities	11	71
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
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	153	65
Securities purchased under agreements to resell	488	380
Total short-term financial assets	641	445
Trading securities:	1,563	1,176
Loans held-for-sale	1,109	935
Securities available for sale at fair value	8,707	8,015
Securities held to maturity (fair value of $705 and $10, respectively)	705	0
Gross amounts of recognized assets	312	706
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	13,037	11,277
Liabilities:
Defined maturity	3,524	5,083
Trading liabilities	426	353
Short-term financial liabilities:
Federal funds purchased	775	845
Securities sold under agreements to repurchase	1,247	1,187
Other short-term borrowings	102	166
Total short-term financial liabilities	2,124	2,198
Term borrowings:
Real estate investment trust-preferred	0	0
Term borrowings—new market tax credit investment	0	0
Secured borrowings	0	0
Junior subordinated debentures	0	0
Other long term borrowings	1,452	1,455
Total term borrowings	1,452	1,455
Gross amounts of recognized liabilities	94	64
Total liabilities	7,620	9,153
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	230	393
Estimate of Fair Value Measurement | Level 2 | Government guaranteed loans (SBA and USDA)
Short-term financial assets:
Loans held-for-sale	855	511
Estimate of Fair Value Measurement | Level 2 | Other
Short-term financial assets:
Loans held-for-sale	24	31
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	55,023	57,695
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:	38	0
Loans held-for-sale	66	90
Securities available for sale at fair value	0	32
Securities held to maturity (fair value of $705 and $10, respectively)	0	10
Gross amounts of recognized assets	0	0
Other assets:
Tax credit investments	450	371
Deferred compensation mutual funds	0	0
Equity, mutual funds, and other	232	263
Total other assets	682	634
Total assets	55,809	58,461
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	58	45
Secured borrowings	6	15
Junior subordinated debentures	150	223
Other long term borrowings	0	0
Total term borrowings	261	330
Gross amounts of recognized liabilities	23	14
Total liabilities	284	344
Estimate of Fair Value Measurement | Level 3 | Commercial and industrial
Assets
Total loans, net of unearned income and allowance for loan losses	31,020	32,582
Estimate of Fair Value Measurement | Level 3 | Commercial real estate
Assets
Total loans, net of unearned income and allowance for loan losses	11,986	12,079
Estimate of Fair Value Measurement | Level 3 | Consumer real estate
Assets
Total loans, net of unearned income and allowance for loan losses	11,111	11,903
Estimate of Fair Value Measurement | Level 3 | Credit Card and Other
Assets
Total loans, net of unearned income and allowance for loan losses	906	1,131
Estimate of Fair Value Measurement | Level 3 | Mortgage Loans
Short-term financial assets:
Loans held-for-sale	28	12
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
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	37	77
Contractual Amount
Term borrowings:
Loan commitments	24,229	20,796
Standby and other commitments	$ 810	$ 751

Restructuring, Repositioning,_3

Restructuring, Repositioning, and Efficiency (Details) - 2019 Business Optimization - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]
Total restructuring, repositioning, and efficiency charges	$ 0	$ 0	$ 40,000,000
Personnel expense
Restructuring Cost and Reserve [Line Items]
Total restructuring, repositioning, and efficiency charges			11,000,000
Legal and professional fees
Restructuring Cost and Reserve [Line Items]
Total restructuring, repositioning, and efficiency charges			16,000,000
Net occupancy expense
Restructuring Cost and Reserve [Line Items]
Total restructuring, repositioning, and efficiency charges			1,000,000
Other
Restructuring Cost and Reserve [Line Items]
Total restructuring, repositioning, and efficiency charges			$ 12,000,000

Parent Company Financial Info_3

Parent Company Financial Information - Statements of Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments in subsidiaries:
Other assets	$ 3,542	$ 4,062
Total assets	89,092	84,209
Liabilities and equity:
Term borrowings	1,590	1,670
Total liabilities	80,598	75,902
Total equity	8,494	8,307	$ 5,076	$ 4,786
Total liabilities and equity	89,092	84,209
Parent Company
Assets:
Cash	724	827
Notes receivable	3	3
Investments in subsidiaries:
Bank	8,381	8,176
Non-bank	65	88
Other assets	291	274
Total assets	9,464	9,368
Liabilities and equity:
Accrued employee benefits and other liabilities	321	322
Term borrowings	944	1,034
Total liabilities	1,265	1,356
Total equity	8,199	8,012
Total liabilities and equity	$ 9,464	$ 9,368

Parent Company Financial Info_4

Parent Company Financial Information - Statements of Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Dividend income:
Other income (loss)	$ 68	$ 74	$ 78
Provision (provision credit) for credit losses	(310)	503	45
Interest on term borrowings	72	64	53
Personnel expense	1,210	1,033	695
Income before income taxes	1,284	933	586
Income tax benefit	274	76	134
Equity in undistributed net income (loss) of subsidiaries:
Net income attributable to controlling interest	999	845	441
Parent Company
Dividend income:
Bank	770	180	345
Non-bank	0	0	1
Total dividend income	770	180	346
Other income (loss)	(26)	0	1
Total income	744	180	347
Provision (provision credit) for credit losses	0	0	(1)
Interest on term borrowings	31	39	31
Personnel expense	89	54	53
Total expense	120	93	83
Income before income taxes	624	87	264
Income tax benefit	(35)	(18)	(19)
Income before equity in undistributed net income of subsidiaries	659	105	283
Equity in undistributed net income (loss) of subsidiaries:
Bank	332	736	160
Non-bank	8	4	(2)
Net income attributable to controlling interest	$ 999	$ 845	$ 441

Parent Company Financial Info_5

Parent Company Financial Information - Statements of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income attributable to controlling interest	$ 999	$ 845	$ 441
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation, amortization, and other	28	46	65
Deferred income tax expense (benefit)	0	(18)	14
Stock-based compensation expense	43	32	22
Loss on extinguishment of debt	26	0	0
Total adjustments	(269)	(685)	378
Net cash provided by (used in) operating activities	741	172	830
Securities:
Proceeds from sales and prepayments of securities	68	629	192
Purchases of securities
Net cash provided by (used in) investing activities	(4,617)	(4,967)	(2,390)
Preferred stock:
Proceeds from issuance of preferred stock	145	144	0
Call of preferred stock	(100)	0	0
Cash dividends paid - preferred stock	(33)	(17)	(6)
Common stock:
Stock options exercised	28	7	9
Cash dividends paid	(333)	(222)	(171)
Repurchase of shares	(416)	(4)	(134)
Term borrowings:
Repayment of term borrowings	(108)	(327)	(396)
Net cash provided by (used in) financing activities	4,016	5,176	1,422
Net increase (decrease) in cash and cash equivalents	140	381	(138)
Cash and cash equivalents at beginning of period	1,648	1,267	1,405
Cash and cash equivalents at end of period	1,788	1,648	1,267
Total interest paid	170	261	411
Income taxes received from subsidiaries	258	105	71
Parent Company
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income attributable to controlling interest	999	845	441
Less undistributed net income of subsidiaries	340	740	158
Income before undistributed net income of subsidiaries	659	105	283
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation, amortization, and other	0	0	(1)
(Gain) loss on derivative transactions	0	4	0
Deferred income tax expense (benefit)	8	5	4
Stock-based compensation expense	43	32	22
Loss on extinguishment of debt	26	0	0
Other operating activities, net	(11)	21	28
Total adjustments	66	62	53
Net cash provided by (used in) operating activities	725	167	336
Securities:
Proceeds from sales and prepayments of securities	3	0	1
Purchases of securities
Purchases of securities	(10)	(5)	0
Sales (purchases) of premises and equipment	8	(2)	0
Cash received for business combination, net	0	103	0
Net cash provided by (used in) investing activities	1	96	1
Preferred stock:
Proceeds from issuance of preferred stock	145	144	0
Call of preferred stock	(100)	0	0
Cash dividends paid - preferred stock	(33)	(17)	(6)
Common stock:
Stock options exercised	28	7	9
Cash dividends paid	(333)	(222)	(171)
Repurchase of shares	(416)	(4)	(134)
Proceeds from issuance of term borrowings	0	795	0
Term borrowings:
Repayment of term borrowings	(120)	(500)	0
Other financing activities, net	0	(8)	0
Net cash provided by (used in) financing activities	(829)	195	(302)
Net increase (decrease) in cash and cash equivalents	(103)	458	35
Cash and cash equivalents at beginning of period	827	369	334
Cash and cash equivalents at end of period	724	827	369
Total interest paid	35	33	29
Income taxes received from subsidiaries	$ 28	$ 33	$ 43

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Feb. 27, 2022	Dec. 31, 2021	Dec. 31, 2020
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)		$ 0.625	$ 0.625
TD Merger Agreement
Subsequent Event [Line Items]
Merger and integration expense		$ 0
TD Merger Agreement | Subsequent Event
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)	$ 0.625
Cash to be received per common share upon closing (in dollars per share)	25
Additional cash to be received per common share upon closing, annual basis (in dollars per share)	0.65
Additional cash to be received per common share upon closing, monthly basis (in dollars per share)	$ 0.054
TD Merger Agreement | Subsequent Event | Private Placement | Series G Convertible Preferred Stock
Subsequent Event [Line Items]
Sale of preferred stock, net (approximately)	$ 493,500,000
Preferred stock convertible as a percent of outstanding shares	4.90%