Truist Financial Corporation (NYSE:TFC) Q1 2024 Earnings Conference Call April 22, 2024 8:00 AM ET Company Participants Brad Milsaps - Investor Relations Bill Rogers - Chairman and Chief Executive Officer Mike Maguire - Chief Financial Officer Clarke Starnes - Vice Chair and Chief Risk Officer Conference Call Participants John McDonald - Autonomous Research Betsy Graseck - Morgan Stanley Scott Siefers - Piper Sandler Ken Usdin - Jefferies Mike Mayo - Wells Fargo Securities Ebrahim Poonawala - Bank of Americ ...

– Net interest income decreased 13% as a result of higher funding costs and lower earning assets – NIM declined 28 bps $ in millions – Noninterest income increased 6.1% primarily driven by higher investment banking and trading income, partially offset by a decline in lending related fees due to lower leasing-related gains Noninterest expense Vs. linked quarter – Adjusted noninterest expense increased $20 million, or 0.7% – Noninterest expense decreased $62 million Adjusted noninterest expense excludes restr ...

Quarterly Performance Summary Truist Financial Corporation First Quarter 2024 Ta b l e o f C o n t e n t s Q u a r t e rly P e rfo r m a n c e S u m m a r y T r uis t Fin a n cial C o r p o r a tio n | P | a | g | e | Fin | a | n | cial | Hig | hlig | h | t | s | 1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________________ FORM 10-K _________________________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 Commission File Number: 1-10853 TRUIST FINANCIAL CORPORATION | (Exact name of registrant as specified in its charter) | | | | --- | --- | --- | | _____________________ ...

Truist Financial Corporation (NYSE:TFC) BofA Securities Financial Services Conference February 21, 2024 10:30 AM ET Company Participants Mike Maguire - Chief Financial Officer Conference Call Participants Ebrahim Poonawala - Bank of America Ebrahim Poonawala I think we'll go ahead and get started. So next up, we have Mike Maguire, CFO of Truist Financial. Mike has been a busy man over the last couple of days or last week. So, we appreciate you joining us, taking the time. Mike Maguire Yes. My pleasure. I kn ...

Truist Financial Corporation (NYSE:TFC) Q4 2023 Earnings Conference Call January 18, 2024 8:00 AM ET Company Participants Brad Milsaps - Head of Investor Relations Bill Rogers - Chairman and Chief Executive Officer Mike Maguire - Chief Financial Officer Clarke Starnes - Vice Chair and Chief Risk Officer Conference Call Participants John McDonald - Autonomous Research Scott Siefers - Piper Sandler Mike Mayo - Wells Fargo Securities Elyse Greenspan - Wells Fargo Securities Ken Usdin - Jefferies Erika Najarian ...

Truist Financial Corporation Conference Call Summary Company Overview - **Company**: Truist Financial Corporation (NYSE:TFC) - **Event**: Goldman Sachs 2023 US Financial Services Conference - **Date**: December 5, 2023 Key Industry Insights - **Economic Sentiment**: Clients are cautious, particularly in commercial sectors, affecting loan demand [3][4] - **Consumer Behavior**: Higher-end consumers continue to spend, while lower-income consumers are showing signs of stress, including increased credit card utilization and delinquency [5] - **Loan Growth Strategy**: Truist is focusing on selective loan growth rather than defensive strategies, optimizing portfolios to enhance returns [6][7][8] Financial Performance and Projections - **Loan Demand**: Expected decline in loans for Q4 due to cautious market sentiment [6] - **Net Interest Income (NII)**: Anticipated to bottom out in the first half of next year, with potential growth as the economy recovers [18] - **Fee Income Growth**: Insurance and investment banking are key drivers, with expectations for improvement in 2024 [19][21] Regulatory Environment - **Increased Regulations**: Truist has been preparing for a more regulated environment since its merger, focusing on capital optimization and compliance [10][9] - **Capital Management**: Targeting a Common Equity Tier 1 (CT1) ratio of 10%, with a focus on organic growth and maintaining flexibility for future opportunities [48][49] Strategic Initiatives - **Organizational Realignment**: Aimed at streamlining operations and enhancing client focus, moving towards a more integrated service model [24][26][29] - **Cost-Saving Measures**: Aiming for zero expense growth while investing in key areas like AI and digital capabilities [31][39] - **Home-Court Advantage**: Emphasizing local market strengths to drive growth and client relationships [28][34] Credit Quality and Risk Management - **Credit Performance**: Normalization of credit losses expected, with ongoing monitoring of portfolios, particularly in lower-income and commercial real estate sectors [40][42][46] - **Stress Testing**: Continuous assessment of portfolio risks to ensure balance sheet strength [45][47] Conclusion - **Long-Term Outlook**: Truist is positioned for growth with a focus on client acquisition, operational efficiency, and leveraging market opportunities, despite current economic challenges [62][60]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________________ FORM 10-Q _________________________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: September 30, 2023 Commission File Number: 1-10853 TRUIST FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) _________________________________________ ...

Truist Financial Corporation (NYSE:TFC) Q3 2023 Earnings Conference Call October 18, 2023 8:00 AM ET Company Participants Brad Milsaps - Head of IR Bill Rogers - Chairman and CEO Mike Maguire - CFO Clarke Starnes - Vice Chair and CRO Conference Call Participants Ken Usdin - Jefferies John McDonald - Autonomous Research Ebrahim Poonawala - Bank of America Erika Najarian - UBS John Pancari - Evercore ISI Mike Mayo - Wells Fargo Securities Matt O'Connor - Deutsche Bank Gerard Cassidy - RBC Capital Markets Ryan ...

5-Quarter Trend vs. Linked Quarter – Improving spreads on new and renewed loans 1 See non-GAAP reconciliations in the appendix $2,102 $2,227 $2,234 $2,293 $2,108 3Q22 4Q22 1Q23 2Q23 3Q23 – Lower service charges on deposits revenue of $88 million primarily due to $87 million of client refund accruals – Noninterest income increased 0.3% as 9.4% growth in insurance revenue (6.3% organic) was partially offset by lower service charges on deposits and investment banking and trading income 61.8% 60.0% 60.5% 63.3% ...