CHARLOTTE, N.C., June 20, 2024 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) will report second-quarter 2024 financial results before the market opens on Monday, July 22, 2024. Chairman and Chief Executive Officer Bill Rogers and Chief Financial Officer Mike Maguire will host a conference call to review the company's financial results at 8 a.m. ET. Investors can access the live earnings call by webcast or dial-in as follows: Live webcast for listeners: https://app.webinar.net/zVb4RPwq23Q Dial-in ...

Core Viewpoint - Truist has faced challenges in executing the SunTrust merger and has been losing organic market share in key markets, leading to underperformance compared to peers. However, there is potential for recovery and growth following the sale of its insurance business, which has provided capital for repositioning the balance sheet and improving yields [1][2][6]. Financial Performance - Truist's shares have lagged behind peers by approximately 10% since the last update, over 15% in the last five years, and 35% over the last ten years [1]. - The sale of the insurance business was executed at a decent price of 18x trailing EBITDA, generating over $10 billion in after-tax proceeds, which will be used to absorb losses and reposition the balance sheet [2]. - The bank sold nearly $28 billion in lower-yielding securities with a yield of 2.8% and purchased $18.7 billion in higher-yielding securities at 5.3%, which is expected to drive around $1.1 billion in net interest income leverage [2]. Strategic Direction - Management has indicated a focus on improving core banking operations and addressing the challenges of integrating the SunTrust merger, which has historically been difficult [6][8]. - The bank's management has expressed optimism about future growth opportunities, particularly in the Southeastern markets, despite recent losses in market share [9][10]. Growth Opportunities - Truist is expected to benefit from ongoing repricing in a higher interest rate environment, with higher-yielding loans being added to the portfolio [11]. - There are opportunities for Truist to expand lending as the economy recovers, and the bank is positioned to invest in non-banking growth opportunities, including capital markets and payments businesses [11]. Market Position - Truist has been losing organic market share in key markets such as Atlanta, Miami, and Nashville, while facing competition from smaller banks [9]. - Despite losing deposit share, Truist has maintained a strong efficiency ratio of around 59%, which compares favorably to peers [10].

Bill Gross became a legend by investing in bonds but has a strong opinion on one stock, too. -- Bill Gross (@real_bill_gross) February 26, 2024 Nearly one month later, Gross changed his tune about one regional bank stock. He singled out Truist Financial (TFC -0.06%) in an investment-outlook update posted on his website. Gross said about the stock, "Be exuberant in a month or so." It's now been a little over two months since Gross wrote those words, and Truist's share price is barely in positive territory ye ...

Core Insights - Truist Foundation announced over $4 million in philanthropic funding for 11 nonprofit organizations to pilot and scale innovative solutions in underserved communities [1][2] - The funding aims to address the gap in meaningful financial support for nonprofits, with many organizations facing challenges in growth and scaling their initiatives [1][2] Funding Details - The grants will support programs focused on small business development and career pathways in economically disadvantaged areas [2][4] - Notable organizations receiving funding include Project Equity, Georgia Resilience and Opportunity Fund, Greater Washington Community Foundation, and LiftFund, among others [4][8] Specific Initiatives - Project Equity will promote employee ownership as a wealth-building strategy in Atlanta, Birmingham, and Miami [4] - Georgia Resilience and Opportunity Fund will launch initiatives to enhance employment and financial well-being through participant storytelling [4] - Greater Washington Community Foundation will focus on economic mobility for the ALICE population in the D.C. region [4] Strategic Goals - Truist Foundation emphasizes the importance of corporate philanthropy in catalyzing effective solutions and scaling successful programs across different regions [6] - The foundation's approach includes flexibility in grantmaking to support innovative ideas that can be adapted to various community needs [2][6] Organizational Background - Truist Foundation, established in 2020, focuses on building career pathways and strengthening small businesses to promote economic mobility [7] - The foundation operates independently from Truist Financial Corporation and aims to inspire better lives and communities through strategic investments [7]

Group 1 - Truist Financial Corporation will redeem all $1,000,000,000 principal amount of its floating rate senior notes due June 9, 2025 on June 9, 2024 [1] - The redemption price will be 100% of the principal amount plus accrued and unpaid interest, with interest ceasing to accrue after the redemption date [2] - Truist Financial Corporation is a leading U.S. commercial bank with total assets of $535 billion as of March 31, 2024, and offers a wide range of financial services [3]

Core Insights - The BuildStrong Academy of Charlotte has been established to address the critical skilled labor shortage in the residential construction industry in Charlotte, North Carolina [1][2] - The program offers free training for individuals to acquire skills necessary for entry-level construction roles, resulting in industry-recognized certifications [3] Industry Context - The skilled construction labor shortage in Charlotte has reached critical levels, causing delays, increased costs, and hindering growth opportunities in the local economy [2] - The demand for construction projects continues to rise, highlighting the urgent need for skilled workers in the industry [2] Program Details - The training program lasts for 9 weeks at no cost to participants, culminating in certifications in carpentry and electrical work [3] - The first four weeks focus on basic construction knowledge and safety practices, including an OSHA 10-hour certificate, while the remaining five weeks are dedicated to trade-specific training [3] Organizational Support - The BuildStrong Academy is supported by various organizations, including The Fioretti Family Charitable Fund, The Home Depot Foundation, Truist Foundation, and DEWALT, emphasizing a collaborative effort to address the labor shortage [4][5] - The Home Depot Foundation has invested over $500 million in veteran causes and aims to invest an additional $50 million in training skilled tradespeople by 2030 [7] Goals and Impact - The overarching goal of HBI's programs is to train, credential, and place students in industry-related employment or further education, ultimately empowering individuals to become self-sufficient [11] - The BuildStrong Academy aims to provide scalable and sustainable training solutions for underprivileged young adults seeking education alternatives and living-wage jobs [4]

Truist Financial (TFC) remains well-positioned for revenue growth on the back of decent loan demand, high rates, strategic restructuring initiatives and fee income growth. However, elevated expenses and weakening asset quality remain headwinds. TFC's net interest income (NII) growth seems encouraging. While the metric declined in the first quarter of 2024, it experienced a five-year (ended 2023) compound annual growth rate (CAGR) of 16.9% driven by decent loan demand, merger deals and increasing rates. Its ...

Core Insights - The article discusses the largest banks in the US by consolidated asset size as of September 30, 2025, highlighting their product offerings and branch networks Bank Rankings - **Chase Bank** is the largest bank in the US with $3.8 trillion in assets, operating over 5,000 branches and 15,000 ATMs, offering a wide range of financial products [3] - **Bank of America** follows as the second-largest bank with $2.7 trillion in assets, providing various products for personal and business customers, and operates more than 3,600 branches and approximately 15,000 ATMs [3] - **Citibank** ranks third with $1.8 trillion in assets, operating 660 branches and over 2,300 ATMs, offering products such as deposit accounts and personal loans [4] - **Wells Fargo**, also with $1.8 trillion in assets, has been serving customers since 1852 and operates more than 4,100 branches and over 11,000 ATMs [4] - **U.S. Bank** is the fifth-largest bank with $680 billion in assets, operating more than 2,100 branches and offering a variety of banking products [5] - **Capital One** has $652 billion in assets, operates 258 branches, and offers a full suite of financial products [6][7] - **Goldman Sachs Bank** has $644 billion in assets, primarily known for its investment banking, operates two branches, and offers online banking services [8] - **PNC Bank** has $564 billion in assets, serving personal and business clients with over 2,300 branches [9] - **Truist Bank** has $536 billion in assets, operates nearly 2,000 branches, and offers a range of financial services [10] - **Bank of New York Mellon** has $367 billion in assets, primarily known for asset servicing and investment management, operating just one domestic branch [10] - **State Street Bank and Trust Company** has $366 billion in assets, serving as a global custodian bank with two domestic branches [11] - **TD Bank** has $351 billion in assets, serving over 10 million customers with 1,100 branches [12] - **Morgan Stanley Bank** has $250 billion in assets, providing financial services to individuals and institutions [13] - **BMO Bank** has $249 billion in assets, operating over 1,000 branches and offering various banking products [14] - **Morgan Stanley Private Bank** has $240 billion in assets, focusing on high-net-worth clients without any branches [16] - **First Citizens Bank** has $233 billion in assets, serving personal and business clients with about 500 branches [16] - **Citizens Bank** has $222 billion in assets, operating nearly 1,000 branches and offering a range of financial products [17] - **Fifth Third Bank** operates over 1,100 branches and has a network of more than 40,000 fee-free ATMs [18] - **American Express National Bank** has $211 billion in assets, focusing on high-yield savings accounts and personal loans [18] - **M&T Bank** also has $211 billion in assets, operating almost 1,000 branches and offering various banking services [19]

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: March 31, 2024 Commission File Number: 1-10853 TRUIST FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) _____________________________________________ ...

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 ...