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
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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 Oct 28, 2026 (period ending Sep 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 September 30, 2026 | Three months ended September 30, 2025 | Nine months ended September 30, 2026 | Nine months ended September 30, 2025 |
|---|---|---|---|---|
| Interest Income | ||||
| Interest and fees on loans and leases | 4,689 | 4,816 | 13,947 | 13,966 |
| Interest on securities | 897 | 941 | 2,617 | 2,877 |
| Interest on other earning assets | 444 | 529 | 1,288 | 1,585 |
| Total interest income | 6,030 | 6,286 | 17,852 | 18,428 |
| Interest Expense | ||||
| Interest on deposits | 1,647 | 1,835 | 4,747 | 5,415 |
| Interest on long-term debt | 534 | 523 | 1,464 | 1,363 |
| Interest on other borrowings | 186 | 299 | 758 | 927 |
| Total interest expense | 2,367 | 2,657 | 6,969 | 7,705 |
| Net Interest Income | 3,663 | 3,629 | 10,883 | 10,723 |
| Provision (benefit) for credit losses | (253) | 436 | 621 | 1,382 |
| Net Interest Income After Provision for Credit Losses | 3,916 | 3,193 | 10,262 | 9,341 |
| Noninterest Income | ||||
| Wealth management income | 407 | 374 | 1,152 | 1,066 |
| Card and treasury management fees | 347 | 340 | 1,038 | 1,024 |
| Investment banking and trading income | 324 | 323 | 1,048 | 801 |
| Other deposit revenue | 125 | 125 | 365 | 350 |
| Mortgage banking income | 113 | 118 | 362 | 333 |
| Lending related fees | 120 | 103 | 358 | 297 |
| Securities gains (losses) | (1,447) | — | (1,447) | (19) |
| Other income | 95 | 175 | 405 | 498 |
| Total noninterest income | 84 | 1,558 | 3,281 | 4,350 |
| Noninterest Expense | ||||
| Personnel expense | 1,853 | 1,748 | 5,372 | 5,030 |
| Professional fees and outside processing | 365 | 346 | 1,013 | 1,083 |
| Software expense | 254 | 233 | 723 | 694 |
| Net occupancy expense | 180 | 185 | 530 | 534 |
| Equipment expense | 77 | 90 | 241 | 261 |
| Marketing and customer development | 83 | 79 | 253 | 236 |
| Amortization of intangibles | 62 | 72 | 189 | 220 |
| Regulatory costs | 61 | 32 | 190 | 156 |
| Other expense | 170 | 229 | 632 | 692 |
| Total noninterest expense | 3,105 | 3,014 | 9,143 | 8,906 |
| Earnings | ||||
| Income before income taxes | 895 | 1,737 | 4,400 | 4,785 |
| Provision for income taxes | 96 | 285 | 567 | 832 |
| Net income | 799 | 1,452 | 3,833 | 3,953 |
| Preferred stock dividends and other | 115 | 104 | 253 | 268 |
| Net income available to common shareholders | 684 | 1,348 | 3,580 | 3,685 |
| Earnings Per Common Share | ||||
| Basic EPS | 0.57 | 1.05 | 2.92 | 2.85 |
| Diluted EPS | 0.56 | 1.04 | 2.88 | 2.82 |
| Weighted Average Shares Outstanding | ||||
| Basic | 1,210,179 | 1,280,571 | 1,227,751 | 1,293,341 |
| Diluted | 1,226,342 | 1,296,666 | 1,243,918 | 1,308,676 |
Consolidated Balance Sheets
(Dollars in millions, except per share data, shares in thousands)
| Description | Sep 30, 2026 | Dec 31, 2025 |
|---|---|---|
| Assets | ||
| Cash and due from banks | 4,230 | 4,967 |
| Interest-bearing deposits with banks | 41,242 | 31,410 |
| Securities borrowed or purchased under agreements to resell | 3,903 | 3,200 |
| Trading assets at fair value | 5,218 | 5,790 |
| AFS securities at fair value | 61,523 | 65,042 |
| HTM securities (fair value of $38,263 and $39,130, respectively) | 48,666 | 47,186 |
| LHFS (including $1,270 and $1,622 at fair value, respectively) | 1,558 | 1,883 |
| Loans and leases (including $9 and $11 at fair value, respectively) | 323,930 | 328,595 |
| ALLL | (4,063) | (5,030) |
| Loans and leases, net of ALLL | 319,867 | 323,565 |
| Premises and equipment | 3,257 | 3,172 |
| Goodwill | 17,125 | 17,125 |
| CDI and other intangible assets | 1,067 | 1,256 |
| Loan servicing rights at fair value | 5,066 | 3,972 |
| Other assets (including $2,351 and $1,725 at fair value, respectively) | 41,474 | 38,970 |
| Total assets | 554,196 | 547,538 |
| Liabilities | ||
| Noninterest-bearing deposits | 103,325 | 105,092 |
| Interest-bearing deposits (including $776 and $639 at fair value, respectively) | 309,908 | 295,306 |
| Short-term borrowings (including $2,783 and $2,394 at fair value, respectively) | 12,415 | 27,839 |
| Long-term debt | 53,373 | 41,963 |
| Other liabilities (including $3,329 and $1,797 at fair value, respectively) | 13,703 | 12,149 |
| Total liabilities | 492,724 | 482,349 |
| Shareholders’ Equity | ||
| Preferred stock | 5,411 | 4,916 |
| Common stock, $5 par value | 5,992 | 6,312 |
| Additional paid-in capital | 30,613 | 33,663 |
| Retained earnings | 27,728 | 26,067 |
| AOCI, net of deferred income taxes | (8,272) | (5,769) |
| Total shareholders’ equity | 61,472 | 65,189 |
| Total liabilities and shareholders’ equity | 554,196 | 547,538 |
| Common shares outstanding | 1,198,488 | 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 | Nine months ended September 30, 2026 | Nine months ended September 30, 2025 |
|---|---|---|
| Cash Flows From Operating Activities: | ||
| Net income | 3,833 | 3,953 |
| Adjustments to reconcile net income to net cash from operating activities: | ||
| Provision for credit losses | 621 | 1,382 |
| Depreciation | 376 | 414 |
| Amortization of intangibles | 189 | 220 |
| Securities (gains) losses | 1,447 | 19 |
| Net change in operating assets and liabilities: | ||
| LHFS | 352 | (578) |
| Pension asset | (229) | (169) |
| Derivative assets and liabilities | 1,078 | (1,130) |
| Trading assets | 572 | (631) |
| Investments in affordable housing projects and other qualified tax credits(1) | (560) | (142) |
| Other assets and other liabilities | (2,144) | (610) |
| Other, net(1) | (2,054) | 429 |
| Net cash flows from operating activities | 3,481 | 3,157 |
| Cash Flows From Investing Activities: | ||
| Proceeds from sales of AFS securities | 7,279 | 1,113 |
| Proceeds from maturities, calls and paydowns of AFS securities | 12,184 | 12,123 |
| Purchases of AFS securities | (18,968) | (9,350) |
| Proceeds from maturities, calls and paydowns of HTM securities | 2,800 | 2,841 |
| Purchases of HTM securities | (4,068) | — |
| Originations of loans and leases, net of principal collected | (2,245) | (18,194) |
| Purchases of loans and leases | (750) | (818) |
| Proceeds from sales of loans and leases | 6,002 | 439 |
| Net cash received (paid) for securities borrowed or purchased under agreements to resell | (703) | (431) |
| Purchases of loan servicing rights(1) | (755) | (182) |
| Other, net(1) | 189 | (512) |
| Net cash flows from investing activities | 965 | (12,971) |
| Cash Flows From Financing Activities: | ||
| Net change in deposits | 12,835 | 4,383 |
| Net change in short-term borrowings | (15,418) | 199 |
| Proceeds from issuance of long-term debt | 75,679 | 50,907 |
| Repayment of long-term debt | (63,128) | (44,501) |
| Repurchase of common stock | (3,534) | (1,750) |
| Net proceeds from preferred stock issued | 495 | — |
| Cash dividends paid on common stock | (1,910) | (2,014) |
| Cash dividends paid on preferred stock | (253) | (268) |
| Other, net | (117) | (58) |
| Net cash flows from financing activities | 4,649 | 6,898 |
| Net Change in Cash and Cash Equivalents | 9,095 | (2,916) |
| Cash and Cash Equivalents of Continuing and Discontinued Operations, January 1 | 36,377 | 39,768 |
| Cash and Cash Equivalents of Continuing and Discontinued Operations, September 30 | 45,472 | 36,852 |
| Supplemental Disclosure of Cash Flow Information: | ||
| Net cash paid (received) during the period for: | ||
| Interest expense | 7,093 | 7,568 |
| Income taxes | 164 | 196 |
| Transfer of loans HFI, net of ALLL, to LHFS | 5,395 | 404 |
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 ↗