The following table presents financial information for each reportable business segment for the three months ended March 31, 2026 and 2025. | | | | | | | | | | | | | | | | | | | | | | | | | SEGMENT FINANCIAL INFORMATION | | Three Months Ended March 31, 2026 | | (Dollars in millions) | Commercial, Consumer & Wealth | | Wholesale | | Corporate | | Consolidated | | Interest income | $ | 788 | | | $ | 137 | | | $ | 79 | | | $ | 1,004 | | | Interest expense | 231 | | | 25 | | | 81 | | | 337 | | | Funds transfer pricing | 93 | | | (50) | | | (43) | | | — | | | Net interest income (expense) | 650 | | | 62 | | | (45) | | | 667 | | | Noninterest income | 119 | | | 64 | | | 12 | | | 195 | | | Total revenues | 769 | | | 126 | | | (33) | | | 862 | | | Noninterest expense | 368 | | | 83 | | | 54 | | | 505 | | | Pre-provision net revenue (b) | 401 | | | 43 | | | (87) | | | 357 | | | Provision for credit losses | 8 | | | 9 | | | (2) | | | 15 | | | Income (loss) before income taxes | 393 | | | 34 | | | (85) | | | 342 | | | Income tax expense (benefit) | 94 | | | 8 | | | (26) | | | 76 | | | Net income (loss) | $ | 299 | | | $ | 26 | | | $ | (59) | | | $ | 266 | | | Average assets | $ | 58,996 | | | $ | 10,062 | | | $ | 13,987 | | | $ | 83,045 | | | Depreciation and amortization | 12 | | | 1 | | | 9 | | | 22 | | | Expenditures for long-lived assets | 6 | | | — | | | 2 | | | 8 | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2025 | | (Dollars in millions) | Commercial, Consumer & Wealth | | Wholesale | | Corporate | | Consolidated | | Interest income | $ | 814 | | | $ | 124 | | | $ | 76 | | | $ | 1,014 | | | Interest expense | 291 | | | 28 | | | 64 | | | 383 | | | Funds transfer pricing | 110 | | | (46) | | | (64) | | | — | | | Net interest income (expense) | 633 | | | 50 | | | (52) | | | 631 | | | Noninterest income | 110 | | | 59 | | | 12 | | | 181 | | | Total revenues | 743 | | | 109 | | | (40) | | | 812 | | | Noninterest expense (a) | 344 | | | 75 | | | 68 | | | 487 | | | Pre-provision net revenue (b) | 399 | | | 34 | | | (108) | | | 325 | | | Provision for credit losses | 38 | | | 3 | | | (1) | | | 40 | | | Income (loss) before income taxes | 361 | | | 31 | | | (107) | | | 285 | | | Income tax expense (benefit) | 86 | | | 8 | | | (31) | | | 63 | | | Net income (loss) | $ | 275 | | | $ | 23 | | | $ | (76) | | | $ | 222 | | | Average assets | $ | 58,717 | | | $ | 8,495 | | | $ | 13,753 | | | $ | 80,965 | | | Depreciation and amortization | 9 | | | 2 | | | 10 | | | 21 | | | Expenditures for long-lived assets | 5 | | | 1 | | | 3 | | | 9 | | | | | | | | | |
(a)2025 includes an FDIC special assessment of $1 million and $5 million in derivative valuation adjustments related to prior Visa Class B share sales in the Corporate segment. (b)Pre-provision net revenue is a non-GAAP measure and is reconciled to income (loss) before income taxes (GAAP) in this table. The following table presents a disaggregation of FHN’s noninterest income by major product line and reportable segment for the three months ended March 31, 2026 and 2025.
| | | | | | | | | | | | | | | | | | | | | | | | | NONINTEREST INCOME DETAIL BY SEGMENT | | Three Months Ended March 31, 2026 | | (Dollars in millions) | Commercial, Consumer & Wealth | | Wholesale | | Corporate | | Consolidated | | Noninterest income: | | | | | | | | | Fixed income (a) | $ | — | | | $ | 53 | | | $ | — | | | $ | 53 | | | Deposit transactions and cash management | 40 | | | 1 | | | 2 | | | 43 | | | Brokerage, management fees and commissions | 29 | | | — | | | — | | | 29 | | | Card and digital banking fees | 15 | | | — | | | 3 | | | 18 | | | Other service charges and fees | 16 | | | — | | | — | | | 16 | | | Trust services and investment management | 13 | | | — | | | — | | | 13 | | | Mortgage banking income | — | | | 9 | | | — | | | 9 | | | | | | | | | | | | | | | | | | | Securities gains (losses), net (b) | — | | | — | | | (1) | | | (1) | | | Other income (c) | 6 | | | 1 | | | 8 | | | 15 | | | Total noninterest income | $ | 119 | | | $ | 64 | | | $ | 12 | | | $ | 195 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2025 | | (Dollars in millions) | Commercial, Consumer & Wealth | | Wholesale | | Corporate | | Consolidated | | Noninterest income: | | | | | | | | | Fixed income (a) | $ | — | | | $ | 49 | | | $ | — | | | $ | 49 | | | Deposit transactions and cash management | 37 | | | 1 | | | 2 | | | 40 | | | Brokerage, management fees and commissions | 26 | | | — | | | — | | | 26 | | | Card and digital banking fees | 16 | | | — | | | 2 | | | 18 | | | Other service charges and fees | 12 | | | — | | | — | | | 12 | | | Trust services and investment management | 12 | | | — | | | — | | | 12 | | | Mortgage banking income | — | | | 8 | | | — | | | 8 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other income (c) | 7 | | | 1 | | | 8 | | | 16 | | | Total noninterest income | $ | 110 | | | $ | 59 | | | $ | 12 | | | $ | 181 | | | | | | | | | |
(a)2026 and 2025 include $11 million and $9 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. The following table presents a disaggregation of FHN's noninterest expense by reportable segment for the three months ended March 31, 2026 and 2025.
| | | | | | | | | | | | | | | | | | | | | | | | | NONINTEREST EXPENSE DETAIL BY SEGMENT | | Three Months Ended March 31, 2026 | | (Dollars in millions) | Commercial, Consumer & Wealth | | Wholesale | | Corporate | | Consolidated | | Noninterest expense: | | | | | | | | | Personnel expense | $ | 142 | | | $ | 56 | | | $ | 91 | | | $ | 289 | | | Computer software | 8 | | | 2 | | | 28 | | | 38 | | | Net occupancy expense | 18 | | | 3 | | | 14 | | | 35 | | | Operations services | 4 | | | 6 | | | 15 | | | 25 | | | Legal and professional fees | 4 | | | 1 | | | 11 | | | 16 | | | Deposit insurance expense | — | | | — | | | 13 | | | 13 | | | Equipment expense | 3 | | | — | | | 8 | | | 11 | | | Advertising and public relations | 1 | | | — | | | 9 | | | 10 | | | Amortization of intangible assets | 8 | | | — | | | — | | | 8 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other expense | 17 | | | 7 | | | 36 | | | 60 | | | Cost allocations | 163 | | | 8 | | | (171) | | | — | | | Total noninterest expense | $ | 368 | | | $ | 83 | | | $ | 54 | | | $ | 505 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2025 | | (Dollars in millions) | Commercial, Consumer & Wealth | | Wholesale | | Corporate | | Consolidated | | Noninterest expense: | | | | | | | | | Personnel expense | $ | 135 | | | $ | 51 | | | $ | 93 | | | $ | 279 | | | Computer software | 7 | | | 2 | | | 23 | | | 32 | | | Net occupancy expense | 21 | | | 2 | | | 12 | | | 35 | | | Operations services | 4 | | | 6 | | | 13 | | | 23 | | | Legal and professional fees | 3 | | | 1 | | | 10 | | | 14 | | | Deposit insurance expense | — | | | — | | | 13 | | | 13 | | | Equipment expense | 2 | | | — | | | 8 | | | 10 | | | Advertising and public relations | 1 | | | — | | | 9 | | | 10 | | | Amortization of intangible assets | 9 | | | — | | | 1 | | | 10 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other expense | 19 | | | 7 | | | 35 | | | 61 | | | Cost allocations | 143 | | | 6 | | | (149) | | | — | | | Total noninterest expense | $ | 344 | | | $ | 75 | | | $ | 68 | | | $ | 487 | | | | | | | | | |
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