NYSE: TFC
TRUIST FINANCIAL CORPCIK 0000092230 · SIC 6021 · National Commercial Banks
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Truist Q2 net income rises 25.2% to $1.55B; new CEO and announced
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Truist completes $1.25B senior debt offering at 4.957% fixed-to-floating rate
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Truist Financial debt offering: senior notes, terms and pricing to be determined
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Truist reports Q2 2026 EPS of $1.23, up 37% YoY; returns $1.8B to shareholders
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Truist names Michael Lyons CEO effective Sept. 1; Bill Rogers transitions to executive chair
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Truist Financial appoints Catherine P. Bessant to Board of Directors
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Truist raises capital with $500M preferred stock offering, restricts common dividends if preferred unpaid
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Truist shareholders approve amended equity compensation plan at annual meeting
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net income $1.48B. Truist Q1 2026: EPS up 25%, buybacks double, new capital rules proposed
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Truist raises $2B through dual senior note offering with fixed-to-floating rates
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Latest financial statements
From 10-Q filed Jul 31, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Income
(Dollars in millions, except per share data, shares in thousands)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Interest Income | ||||
| Interest and fees on loans and leases | 4,659 | 4,657 | 9,258 | 9,150 |
| Interest on securities | 871 | 961 | 1,720 | 1,936 |
| Interest on other earning assets | 437 | 536 | 844 | 1,056 |
| Total interest income | 5,967 | 6,154 | 11,822 | 12,142 |
| Interest Expense | ||||
| Interest on deposits | 1,575 | 1,844 | 3,100 | 3,580 |
| Interest on long-term debt | 485 | 431 | 930 | 840 |
| Interest on other borrowings | 286 | 292 | 572 | 628 |
| Total interest expense | 2,346 | 2,567 | 4,602 | 5,048 |
| Net Interest Income | 3,621 | 3,587 | 7,220 | 7,094 |
| Provision for credit losses | 395 | 488 | 874 | 946 |
| Net Interest Income After Provision for Credit Losses | 3,226 | 3,099 | 6,346 | 6,148 |
| Noninterest Income | ||||
| Wealth management income | 375 | 348 | 745 | 692 |
| Card and treasury management fees | 353 | 351 | 691 | 684 |
| Investment banking and trading income | 352 | 205 | 724 | 478 |
| Other deposit revenue | 120 | 108 | 240 | 225 |
| Mortgage banking income | 116 | 107 | 249 | 215 |
| Lending related fees | 120 | 99 | 238 | 194 |
| Securities gains (losses) | — | (18) | — | (19) |
| Other income | 208 | 200 | 310 | 323 |
| Total noninterest income | 1,644 | 1,400 | 3,197 | 2,792 |
| Noninterest Expense | ||||
| Personnel expense | 1,792 | 1,678 | 3,519 | 3,282 |
| Professional fees and outside processing | 335 | 373 | 648 | 737 |
| Software expense | 239 | 231 | 469 | 461 |
| Net occupancy expense | 171 | 181 | 350 | 349 |
| Equipment expense | 79 | 89 | 164 | 171 |
| Marketing and customer development | 91 | 82 | 170 | 157 |
| Amortization of intangibles | 63 | 73 | 127 | 148 |
| Regulatory costs | 61 | 55 | 129 | 124 |
| Other expense | 224 | 224 | 462 | 463 |
| Total noninterest expense | 3,055 | 2,986 | 6,038 | 5,892 |
| Earnings | ||||
| Income before income taxes | 1,815 | 1,513 | 3,505 | 3,048 |
| Provision for income taxes | 262 | 273 | 471 | 547 |
| Net income | 1,553 | 1,240 | 3,034 | 2,501 |
| Preferred stock dividends and other | 34 | 60 | 138 | 164 |
| Net income available to common shareholders | 1,519 | 1,180 | 2,896 | 2,337 |
| Basic EPS | 1.24 | 0.91 | 2.34 | 1.80 |
| Diluted EPS | 1.23 | 0.90 | 2.31 | 1.78 |
| Basic weighted average shares outstanding | 1,224,867 | 1,292,292 | 1,236,682 | 1,299,833 |
| Diluted weighted average shares outstanding | 1,239,040 | 1,305,005 | 1,252,766 | 1,314,779 |
Consolidated Balance Sheets
(Dollars in millions, except per share data, shares in thousands)
| Description | Jun 30, 2026 | Dec 31, 2025 |
|---|---|---|
| Assets | ||
| Cash and due from banks | 4,707 | 4,967 |
| Interest-bearing deposits with banks | 34,581 | 31,410 |
| Securities borrowed or purchased under agreements to resell | 4,431 | 3,200 |
| Trading assets at fair value | 5,288 | 5,790 |
| AFS securities at fair value | 67,651 | 65,042 |
| HTM securities (fair value of $38,145 and $39,130, respectively) | 46,351 | 47,186 |
| LHFS (including $2,198 and 1,622 at fair value, respectively) | 2,477 | 1,883 |
| Loans and leases (including $10 and $11 at fair value, respectively) | 329,796 | 328,595 |
| ALLL | (4,983) | (5,030) |
| Loans and leases, net of ALLL | 324,813 | 323,565 |
| Premises and equipment | 3,177 | 3,172 |
| Goodwill | 17,125 | 17,125 |
| CDI and other intangible assets | 1,130 | 1,256 |
| Loan servicing rights at fair value | 4,293 | 3,972 |
| Other assets (including $1,841 and $1,725 at fair value, respectively) | 39,999 | 38,970 |
| Total assets | 556,023 | 547,538 |
| Liabilities | ||
| Noninterest-bearing deposits | 104,341 | 105,092 |
| Interest-bearing deposits (including $688 and $639 at fair value, respectively) | 305,038 | 295,306 |
| Short-term borrowings (including $3,121 and $2,394 at fair value, respectively) | 26,885 | 27,839 |
| Long-term debt | 42,976 | 41,963 |
| Other liabilities (including $2,228 and $1,797 at fair value, respectively) | 12,688 | 12,149 |
| Total liabilities | 491,928 | 482,349 |
| Shareholders’ Equity | ||
| Preferred stock | 5,411 | 4,916 |
| Common stock, $5 par value | 6,108 | 6,312 |
| Additional paid-in capital | 31,616 | 33,663 |
| Retained earnings | 27,676 | 26,067 |
| AOCI, net of deferred income taxes | (6,716) | (5,769) |
| Total shareholders’ equity | 64,095 | 65,189 |
| Total liabilities and shareholders’ equity | 556,023 | 547,538 |
| Common shares outstanding | 1,221,626 | 1,262,470 |
| Common shares authorized | 2,000,000 | 2,000,000 |
| Preferred shares outstanding | 196 | 176 |
| Preferred shares authorized | 5,000 | 5,000 |
Consolidated Statements of Cash Flows
(Dollars in millions)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash Flows From Operating Activities: | ||
| Net income | 3,034 | 2,501 |
| Adjustments to reconcile net income to net cash from operating activities: | ||
| Provision for credit losses | 874 | 946 |
| Depreciation | 257 | 284 |
| Amortization of intangibles | 127 | 148 |
| Net change in operating assets and liabilities: | ||
| LHFS | (576) | 128 |
| Pension asset | (169) | (145) |
| Derivative assets and liabilities | 378 | (1,106) |
| Trading assets | 502 | (863) |
| Investments in affordable housing projects and other qualified tax credits(1) | (605) | 39 |
| Other assets and other liabilities(1) | (1,209) | (600) |
| Other, net(1) | (895) | 328 |
| Net cash flows from operating activities | 1,718 | 1,660 |
| Cash Flows From Investing Activities: | ||
| Proceeds from sales of AFS securities | 59 | 1,109 |
| Proceeds from maturities, calls and paydowns of AFS securities | 8,354 | 8,079 |
| Purchases of AFS securities | (10,776) | (6,879) |
| Proceeds from maturities, calls and paydowns of HTM securities | 1,767 | 1,812 |
| Purchases of HTM securities | (795) | — |
| Originations of loans and leases, net of principal collected | (2,545) | (12,860) |
| Purchases of loans and leases | (206) | (668) |
| Sales of loans and leases | 550 | 358 |
| Net cash received (paid) for securities borrowed or purchased under agreements to resell | (1,231) | (106) |
| Other, net | 14 | (181) |
| Net cash flows from investing activities | (4,809) | (9,336) |
| Cash Flows From Financing Activities: | ||
| Net change in deposits | 8,981 | 15,598 |
| Net change in short-term borrowings | (951) | (12,556) |
| Proceeds from issuance of long-term debt | 50,473 | 28,642 |
| Repayment of long-term debt | (49,131) | (19,486) |
| Repurchase of common stock | (2,334) | (1,250) |
| Net proceeds from preferred stock issued | 495 | — |
| Cash dividends paid on common stock | (1,281) | (1,349) |
| Cash dividends paid on preferred stock | (138) | (164) |
| Other, net | (112) | (76) |
| Net cash flows from financing activities | 6,002 | 9,359 |
| Net Change in Cash and Cash Equivalents | 2,911 | 1,683 |
| Cash and Cash Equivalents of Continuing and Discontinued Operations, January 1 | 36,377 | 39,768 |
| Cash and Cash Equivalents of Continuing and Discontinued Operations, June 30 | 39,288 | 41,451 |
| Supplemental Disclosure of Cash Flow Information: | ||
| Net cash paid (received) during the period for: | ||
| Interest expense | 4,661 | 4,967 |
| Income taxes | 97 | 170 |
Amounts as printed on the EDGAR/iXBRL face — (Dollars in millions, except per share data, shares in thousands); (Dollars in millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗