In collaboration with MIT Solve, Truist Foundation will provide more than $1 million in grants and in-kind services to nonprofits supporting career navigation and workforce development CHARLOTTE, N.C., Sept. 23, 2024 /PRNewswire/ -- Truist Foundation today announced the launch of its third Inspire Awards, a capacity-building grant program for nonprofit organizations, to help create career pathways to economic mobility for workers across the U.S. This year's challenge aims to improve resources for adults see ...

Funds will help provide immediate relief, support long-term recovery efforts in impacted communities CHARLOTTE, N.C., Sept. 11, 2024 /PRNewswire/ -- In response to Hurricane Francine's projected landfall along the U.S. Gulf Coast this afternoon, Truist Foundation today announced it will donate $250,000 to support relief and recovery efforts in communities impacted by the storm. The funds will be distributed to the American Red Cross and the Center for Disaster Philanthropy's Atlantic Hurricane Season Recove ...

Company and Industry Overview * **Company**: Truist Financial Corporation (NYSE:TFC) * **Industry**: Banking and Financial Services * **Event**: Barclays 22nd Annual Global Financial Services Conference * **Date**: September 10, 2024 * **Participants**: * Bill Rogers - Chairman and CEO * Mike Maguire - CFO * Jason Goldberg - Barclays Capital Key Points 1. Strategic Objectives and Growth * Truist's purpose is to inspire and build better lives and communities. * The company has a strong local presence in high-growth markets and a comprehensive platform that competes with the largest banks. * Truist aims to maximize its potential by leveraging its scale, density, and expertise in key markets and segments. 2. Organizational Realignment and Simplification * Truist has implemented an organizational realignment and simplification plan to improve efficiency, reduce costs, and better position the company for growth. * This plan includes: * Holding expenses flat in 2024 * Streamlining the board of directors * Appointing new executive leadership * Selling its remaining stake in Truist Insurance Holdings (TIH) * Repurchasing up to $5 billion in shares of common stock through 2026 3. Capital Position and Return on Equity * The sale of TIH significantly improved Truist's capital position and accelerated its ability to comply with proposed Basel III capital rules. * Truist expects to improve its Return on Tangible Common Equity (ROTCE) ratio to the mid-teens over the medium term through a combination of client and business growth and a more efficient balance sheet. 4. Growth Initiatives * Truist plans to focus on growing its existing business within certain verticals, including: * Middle-market banking * Treasury management * Consumer and wealth businesses * Payments and treasury management * The company will leverage its corporate investment banking expertise and existing client relationships to drive growth in these areas. 5. Financial Performance * Truist reaffirmed its guidance for the third quarter and full year, expecting to achieve flat expenses and positive operating leverage. * The company expects to continue investing in its franchise and growth initiatives while maintaining a strong risk discipline. 6. Credit Quality * Truist's credit quality remains strong, with no secular or geographic issues brewing. * The company is proactive in managing its credit risk, particularly in the commercial real estate sector. 7. Capital Deployment * Truist plans to prioritize investing in its franchise and growth initiatives over share repurchases and other capital deployment options. * The company will evaluate the use of capital based on economic conditions and growth opportunities. 8. Conclusion * Truist is well-positioned for growth and profitability, with a strong capital position, a simplified organizational structure, and a clear strategy for driving growth in key markets and segments.

Shutthiphong Chandaeng/iStock via Getty Images Shares of super regional bank Truist Financial Corporation (NYSE:TFC) are trading near their 52-week high after posting a strong 2Q24, as expectations for a Fed rate cut in September increase. The bank sold its remaining 80% stake in Truist Insurance Holdings (TIH) in May 2024 and executed a concurrent balance sheet repositioning to boost its capital adequacy ratios. With a 4.7% yield despite an approximate 25% rally since first announcing the TIH sale in Febru ...

Jefferson Rives, managing director and head of healthcare technology, joins from Barclays. Rives has 20 years of experience, including leading roles within the Wells Fargo and Morgan Stanley global healthcare teams. He is a graduate of the University of North Carolina – Chapel Hill and received his MBA from the Kellogg School of Management at Northwestern University. Max Riso, managing director, biotech, joins from Citi's healthcare investment banking group. Riso has 11 years of healthcare investment bankin ...

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, 2024 Commission File Number: 1-10853 | --- | --- | --- | |------------------------------------------------------------------------------------------------------------- ...

CHARLOTTE, N.C., Aug. 8, 2024 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced that Steve Hagerman will be its new chief information officer. Hagerman will join Truist on Oct. 28, reporting to Chairman & CEO Bill Rogers. Based at Truist headquarters in Charlotte, Hagerman will lead the enterprise technology team, shaping and executing a strategic vision for the bank's technology future, including key areas like data and analytics, AI, information security, technology transformation, ...

Additional $100,000 grant will help communities across the Carolinas recover from anticipated flooding CHARLOTTE, N.C., Aug. 7, 2024 /PRNewswire/ -- As storm Debby moves up the Southeastern coastline, Truist Foundation today announced it will donate an additional $100,000 to support relief and recovery efforts in impacted communities in South Carolina and North Carolina in anticipation of catastrophic flooding. Funds will be distributed to the Center for Disaster Philanthropy's Atlantic Hurricane Season Rec ...

With Quail Hollow Club set to host the PGA Championship in 2025, Truist Championship to be played at The Philadelphia Cricket Club next year and return to Charlotte in 2026 CHARLOTTE, N.C. and PONTE VEDRA BEACH, Fla., Aug. 6, 2024 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC), Quail Hollow Club and the PGA TOUR today announced a seven-year agreement for Truist to become title sponsor of the PGA TOUR's Charlotte, North Carolina, event — renamed the Truist Championship. The announcement was held at ...

Funds will help provide immediate relief, support long-term recovery efforts CHARLOTTE, N.C., Aug. 4, 2024 /PRNewswire/ -- As Tropical Storm Debby approaches the Florida coast, Truist Foundation today announced it will donate $100,000 to support relief and recovery efforts in impacted communities across the Southeast. The funds will be distributed to the Center for Disaster Philanthropy's Atlantic Hurricane Season Recovery Fund, the American Red Cross and United Way Worldwide. "Truist Foundation stands read ...