Business Segment Information FHN has four business segments: regional banking, fixed income, corporate, and non-strategic. The regional banking segment offers financial products and services, including traditional lending and deposit taking, to consumer and commercial customers in Tennessee, North Carolina, South Carolina, Florida and other selected markets. Regional banking also provides investments, wealth management, financial planning, trust services and asset management, mortgage banking, credit card, and cash management. Additionally, the regional banking segment includes correspondent banking which provides credit, depository, and other banking related services to other financial institutions nationally. The fixed income segment consists of 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. The corporate segment consists of unallocated corporate expenses, expense on subordinated debt issuances, bank-owned life insurance, unallocated interest income associated with excess equity, net impact of raising incremental capital, revenue and expense associated with deferred compensation plans, funds management, tax credit investment activities, derivative valuation adjustments related to prior sales of Visa Class B shares, gain/(loss) on extinguishment of debt, acquisition-and integration-related costs and various charges related to restructuring, repositioning, and efficiency efforts. The non-strategic segment consists of run-off consumer lending activities, legacy (pre-2009) mortgage banking elements, and the associated ancillary revenues and expenses related to these businesses. Non-strategic also includes the wind-down trust preferred loan portfolio and exited businesses. Periodically, FHN adapts its segments to reflect managerial or strategic changes. FHN may also modify its methodology of allocating expenses and equity among segments which could change historical segment results. Business segment revenue, expense, asset, and equity levels reflect those which are specifically identifiable or which are allocated based on an internal allocation method. Because the allocations are based on internally developed assignments and allocations, to an extent they are subjective. Generally, all assignments and allocations have been consistently applied for all periods presented. The following table reflects the amounts of consolidated revenue, expense, tax, and average assets for each segment for the three months ended March 31 : Three Months Ended March 31 (Dollars in thousands) 2019 2018 Consolidated Net interest income $ 294,508 $ 301,173 Provision/(provision credit) for loan losses 9,000 (1,000 ) Noninterest income 141,045 136,017 Noninterest expense 296,090 313,265 Income/(loss) before income taxes 130,463 124,925 Provision/(benefit) for income taxes 27,058 29,931 Net income/(loss) $ 103,405 $ 94,994 Average assets $ 40,883,192 $ 40,350,724 Three Months Ended March 31 (Dollars in thousands) 2019 2018 Regional Banking Net interest income $ 287,157 $ 293,194 Provision/(provision credit) for loan losses 13,958 4,458 Noninterest income 72,117 79,963 Noninterest expense 199,959 201,749 Income/(loss) before income taxes 145,357 166,950 Provision/(benefit) for income taxes 33,693 39,340 Net income/(loss) $ 111,664 $ 127,610 Average assets $ 28,889,492 $ 28,171,416 Fixed Income Net interest income $ 7,322 $ 8,475 Noninterest income 53,807 45,605 Noninterest expense 51,227 49,931 Income/(loss) before income taxes 9,902 4,149 Provision/(benefit) for income taxes 2,283 896 Net income/(loss) $ 7,619 $ 3,253 Average assets $ 2,849,939 $ 3,479,425 Corporate Net interest income/(expense) $ (7,853 ) $ (16,184 ) Noninterest income 13,352 9,316 Noninterest expense 40,351 53,329 Income/(loss) before income taxes (34,852 ) (60,197 ) Provision/(benefit) for income taxes (11,403 ) (13,771 ) Net income/(loss) $ (23,449 ) $ (46,426 ) Average assets $ 8,050,162 $ 7,115,661 Non-Strategic Net interest income $ 7,882 $ 15,688 Provision/(provision credit) for loan losses (4,958 ) (5,458 ) Noninterest income 1,769 1,133 Noninterest expense 4,553 8,256 Income/(loss) before income taxes 10,056 14,023 Provision/(benefit) for income taxes 2,485 3,466 Net income/(loss) $ 7,571 $ 10,557 Average assets $ 1,093,599 $ 1,584,222 Certain previously reported amounts have been reclassified to agree with current presentation. The following tables reflect a disaggregation of FHNs noninterest income by major product line and reportable segment for the three months ended March 31, 2019 and 2018 : Three months ended March 31, 2019 (Dollars in thousands) Regional Banking Fixed Income Corporate Non-Strategic Consolidated Noninterest income: Fixed income (a) $ 17 $ 53,732 $  $  $ 53,749 Deposit transactions and cash management 30,005 3 1,563 50 31,621 Brokerage, management fees and commissions 12,629   4 12,633 Trust services and investment management 7,056  (30 )  7,026 Bankcard income 6,102  62 (149 ) 6,015 BOLI (b)   4,402  4,402 Debt securities gains/(losses), net (b)      Equity securities gains/(losses), net (b)   31  31 All other income and commissions (c) 16,308 72 7,324 1,864 25,568 Total noninterest income $ 72,117 $ 53,807 $ 13,352 $ 1,769 $ 141,045 (a) Includes $7.3 million of underwriting, portfolio advisory, and other noninterest income in scope of Accounting Standards Codification ("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 non-interest income. (c) Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commission in scope of ASC 606. Three months ended March 31, 2018 (Dollars in thousands) Regional Banking Fixed Income Corporate Non- Strategic Consolidated Noninterest income: Fixed income (a) $ 81 $ 45,425 $  $  $ 45,506 Deposit transactions and cash management 34,722 3 1,209 50 35,984 Brokerage, management fees and commissions 13,483    13,483 Trust services and investment management 7,292  (15 )  7,277 Bankcard income 6,279  56 110 6,445 BOLI (b)   3,993  3,993 Debt securities gains/(losses), net (b)   52  52 Equity securities gains/(losses), net (b)   34  34 All other income and commissions (c) (d) 18,106 177 3,987 973 23,243 Total noninterest income $ 79,963 $ 45,605 $ 9,316 $ 1,133 $ 136,017 Certain previously reported amounts have been reclassified to agree with current presentation. (a) Includes $8.2 million of underwriting, portfolio advisory, and other noninterest income in scope of Accounting Standards Codification ("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 non-interest income. (c) Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commission in scope of ASC 606. (d) Corporate includes a $3.3 million gain on the sale of a building.