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% ...

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: June 30, 2023 Commission File Number: 1-10853 TRUIST FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) | ____________________________________________ ...

2Q22 3Q22 4Q22 1Q23 2Q23 – Partially offset by lower investment banking and trading revenue Increase in the loan loss reserve reflects normalization of asset quality Provision increased slightly vs. 1Q23 due to higher NCOs and an updated economic outlook | --- | --- | |-----------------------------------------------|----------| | NPL% | 5.6% | | LTM NCO ratio | 0.88% | | Loan loss reserves | 6.2% | | WALTV | ~60% | | Weighted average maturity | ~3 years | | % in Truist Southeast/ Mid-Atlantic footprint | ~7 ...

Truist Financial Corporation (NYSE:TFC) Q2 2023 Earnings Conference Call July 20, 2023 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 Ken Usdin - Jefferies Ebrahim Poonawala - Bank of America Erika Najarian - UBS Betsy Graseck - Morgan Stanley Mike Mayo - Wells Fargo Securities John McDonald - Autonomous Research ...

For the quarterly period ended: March 31, 2023 Commission File Number: 1-10853 TRUIST FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) | _________________________________________________________________ | | | | --- | --- | --- | | North Carolina | 56-0939887 | | | (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | | | 214 North Tryon Street | | | | Charlotte, North Carolina | 28202 | | | (Address of principal executive offices) ...

| --- | --- | --- | |-------------------------------------------------|-------|-------| | | | | | | | | | | | | | First Quarter 2023 | | | | Earnings Conference Call | | | | | | | | Bill Rogers – Chairman & CEO Mike Maguire – CFO | | | | April 20, 2023 | | | Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the financial condition, results of operations, business plans and the future perfor ...