v3.26.1
Investment Securities
 6 Months Ended
Jun. 30, 2026
Marketable Securities [Abstract]  
Investment Securities Investment Securities
The following table summarizes FHN’s investment securities as of June 30, 2026 and December 31, 2025.
INVESTMENT SECURITIES
June 30, 2026
(Dollars in millions)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Securities available for sale:
Government agency issued MBS$3,727 $3 $(340)$3,390 
Government agency issued CMO2,942 2 (238)2,706 
Other U.S. government agencies1,560 1 (110)1,451 
States and municipalities350 1 (25)326 
Total securities available for sale (a)$8,579 $7 $(713)$7,873 
Securities held to maturity:
Government agency issued MBS$735 $— $(80)$655 
Government agency issued CMO454 — (71)383 
Total securities held to maturity (a)$1,189 $— $(151)$1,038 

December 31, 2025
(Dollars in millions)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Securities available for sale:
Government agency issued MBS$3,964 $9 $(332)$3,641 
Government agency issued CMO3,092 6 (229)2,869 
Other U.S. government agencies1,424 2 (109)1,317 
States and municipalities361 2 (25)338 
Total securities available for sale (a)$8,841 $19 $(695)$8,165 
Securities held to maturity:
Government agency issued MBS$758 $— $(76)$682 
Government agency issued CMO458 — (67)391 
Total securities held to maturity (a)$1,216 $— $(143)$1,073 
(a)Includes $6.8 billion and $7.2 billion of securities available for sale as of June 30, 2026 and December 31, 2025, respectively and $789 million and $1.1 billion of securities held to maturity as of June 30, 2026 and December 31, 2025, respectively pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes.
The amortized cost and fair value by contractual maturity for the debt securities portfolio as of June 30, 2026 are provided below.
DEBT SECURITIES PORTFOLIO MATURITIES
Held to MaturityAvailable for Sale
(Dollars in millions)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Within 1 year$— $— $12 $12 
After 1 year through 5 years— — 138 127 
After 5 years through 10 years— — 707 684 
After 10 years— — 1,053 954 
Subtotal— — 1,910 1,777 
Government agency issued MBS and CMO (a)1,189 1,038 6,669 6,096 
Total$1,189 $1,038 $8,579 $7,873 
(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.

There were no sales of AFS securities for the three and six months ended June 30, 2026 and 2025.
The following table provides information on investments within the available-for-sale portfolio that had unrealized losses as of June 30, 2026 and December 31, 2025.
AFS INVESTMENT SECURITIES WITH UNREALIZED LOSSES
As of June 30, 2026
Less than 12 months12 months or longerTotal
(Dollars in millions)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Government agency issued MBS$418 $(3)$2,647 $(337)$3,065 $(340)
Government agency issued CMO637 (2)1,556 (236)2,193 (238)
Other U.S. government agencies547 (2)752 (108)1,299 (110)
States and municipalities 36 — 209 (25)245 (25)
Total$1,638 $(7)$5,164 $(706)$6,802 $(713)
 
As of December 31, 2025
Less than 12 months12 months or longerTotal
(Dollars in millions)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Government agency issued MBS$190 $(1)$2,791 $(331)$2,981 $(332)
Government agency issued CMO353 — 1,706 (229)2,059 (229)
Other U.S. government agencies281 (1)796 (108)1,077 (109)
States and municipalities 1 — 236 (25)237 (25)
Total$825 $(2)$5,529 $(693)$6,354 $(695)
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. Total AIR not included in the fair value or amortized cost basis of AFS debt securities was $27 million and $28 million as of June 30, 2026 and December 31, 2025, 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 periods. 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 periods. There were no transfers to or from AFS or HTM during the three and six months ended June 30, 2026 and 2025.
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 $3 million as of both June 30, 2026 and December 31, 2025. FHN has assessed the risk of credit loss and has determined that no allowance for credit losses for HTM securities was necessary as of June 30, 2026 and December 31, 2025. 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 $126 million and $119 million at June 30, 2026 and December 31, 2025, respectively. The year-to-date 2026 and 2025 gross amounts of upward and downward valuation adjustments were not significant.
For equity investments with readily determinable fair values, net unrealized gains of $7 million and $6 million were recognized in the three and six months ended June 30, 2026, respectively. For equity investments with readily determinable fair values, net unrealized gains of $6 million and $3 million were recognized in the three and six months ended June 30, 2025, respectively.