EX-99.23ex992-qpsx1q26.htmEX-99.2 Document
Quarterly Performance Summary
Truist Financial Corporation
First Quarter 2026
Table of Contents
Quarterly Performance Summary
Truist Financial Corporation
Page
Financial Highlights
1
Consolidated Statements of Income
2
Consolidated Ending Balance Sheets
3
Average Balances and Rates
4
Credit Quality
5
Segment Financial Performance
7
Capital Information
8
Selected Mortgage Banking Information & Additional Information
9
Selected Items
10
Non-GAAP Reconciliations
11
Financial Highlights
Quarter Ended
(Dollars in millions, except per share data, shares in thousands)
March 31
Dec. 31
Sept. 30
June 30
March 31
2026
2025
2025
2025
2025
Summary Income Statement
Interest income
$
5,855
$
6,114
$
6,286
$
6,154
$
5,988
Plus: TE adjustment
45
49
51
48
48
Interest income - TE(1)
5,900
6,163
6,337
6,202
6,036
Interest expense
2,256
2,414
2,657
2,567
2,481
Net interest income
3,599
3,700
3,629
3,587
3,507
Net interest income - TE(1)
3,644
3,749
3,680
3,635
3,555
T1Provision for credit losses
479
512
436
488
458
Net interest income after provision for credit losses
3,120
3,188
3,193
3,099
3,049
Noninterest income
1,553
1,546
1,558
1,400
1,392
T2Noninterest expense
2,983
3,170
3,014
2,986
2,906
Income before income taxes
1,690
1,564
1,737
1,513
1,535
Provision for income taxes
209
210
285
273
274
Net income from continuing operations
1,481
1,354
1,452
1,240
1,261
Net income
1,481
1,354
1,452
1,240
1,261
Preferred stock dividends and other
104
65
104
60
104
Net Income available to common shareholders
1,377
1,289
1,348
1,180
1,157
Additional Income Statement Information
Revenue
5,152
5,246
5,187
4,987
4,899
Revenue - TE(1)
5,197
5,295
5,238
5,035
4,947
PPNR(1)
2,214
2,125
2,224
2,049
2,041
Key Metrics
Earnings:
Earnings per share-basic
1.10
1.02
1.05
0.91
0.88
Earnings per share-diluted
1.09
1.00
1.04
0.90
0.87
T3Cash dividends declared per share
0.52
0.52
0.52
0.52
0.52
BVPS
47.60
47.74
46.70
45.70
44.85
TBVPS(1)
33.19
33.48
32.57
31.63
30.95
End of period shares outstanding
1,245,879
1,262,470
1,279,246
1,289,435
1,309,539
Weighted average shares outstanding-basic
1,248,628
1,267,341
1,280,571
1,292,292
1,307,457
Weighted average shares outstanding-diluted
1,266,572
1,285,078
1,296,666
1,305,005
1,324,339
ROA
1.10
%
0.99
%
1.06
%
0.93
%
0.96
%
ROCE
9.3
8.5
9.0
8.1
8.1
ROTCE(1)
13.8
12.7
13.6
12.3
12.3
NIM - TE(1)
3.02
3.07
3.01
3.02
3.01
Efficiency ratio
57.9
60.4
58.1
59.9
59.3
Credit Quality
T4Nonperforming loans and leases as a percentage of loans and leases HFI
0.50
%
0.48
%
0.48
%
0.39
%
0.48
%
NCO as a percentage of average loans and leases HFI
0.61
0.57
0.48
0.51
0.60
ALLL as a percentage of loans and leases HFI
1.53
1.53
1.54
1.54
1.58
Ratio of ALLL to nonperforming loans and leases HFI
3.1x
3.2x
3.2x
3.9x
3.3x
Average Balances
Assets
$
544,121
$
542,233
$
541,825
$
537,069
$
531,630
Securities(2)
116,118
117,707
119,180
121,829
124,061
Loans and leases
328,972
326,737
322,070
313,841
307,528
Deposits
398,924
396,010
396,600
400,483
392,204
Common shareholders’ equity
59,879
59,991
59,141
58,327
58,125
Total shareholders’ equity
64,794
65,338
65,049
64,235
64,033
Period-End Balances
Assets
$
548,975
$
547,538
$
543,851
$
543,833
$
535,899
Securities(2)
111,866
112,228
113,544
115,363
117,888
Loans and leases
331,412
330,478
325,663
319,999
309,752
Deposits
404,081
400,398
394,907
406,122
403,736
Common shareholders’ equity
59,298
60,273
59,739
58,933
58,728
Total shareholders’ equity
64,214
65,189
65,646
64,840
64,635
Capital and Liquidity Ratios
(preliminary)
T5Common equity tier 1
10.8
%
10.8
%
11.0
%
11.0
%
11.3
%
Tier 1
11.9
11.9
12.3
12.3
12.7
Total
13.7
13.8
14.2
14.3
14.7
Leverage
9.9
10.0
10.2
10.2
10.3
Supplementary leverage
8.3
8.3
8.5
8.5
8.7
Liquidity coverage ratio
110
111
110
110
111
Applicable ratios are annualized.
(1)Represents a non-GAAP measure. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are included in the Non-GAAP Reconciliations section of this Quarterly Performance Summary or within the table above for TE measures. Net interest margin –TE is calculated using net interest income on a TE basis to determine the total yield on interest-earning assets.
(2)Includes AFS and HTM securities. Average balances reflect AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost.
- 1 -
Consolidated Statements of Income
Quarter Ended
March 31
Dec. 31
Sept. 30
June 30
March 31
(Dollars in millions, except per share data, shares in thousands)
2026
2025
2025
2025
2025
Interest Income
Interest and fees on loans and leases
$
4,599
$
4,778
$
4,816
$
4,657
$
4,493
Interest on securities
849
896
941
961
975
Interest on other earning assets
407
440
529
536
520
Total interest income
5,855
6,114
6,286
6,154
5,988
Interest Expense
Interest on deposits
1,525
1,633
1,835
1,844
1,736
Interest on long-term debt
445
481
523
431
409
Interest on other borrowings
286
300
299
292
336
Total interest expense
2,256
2,414
2,657
2,567
2,481
Net Interest Income
3,599
3,700
3,629
3,587
3,507
Provision for credit losses
479
512
436
488
458
Net Interest Income After Provision for Credit Losses
3,120
3,188
3,193
3,099
3,049
Noninterest Income
Wealth management income
370
365
374
348
344
Card and treasury management fees
338
336
340
351
333
Investment banking and trading income
372
335
323
205
273
Other deposit revenue
120
121
125
108
117
Mortgage banking income
133
119
118
107
108
Lending related fees
118
98
103
99
95
Securities gains (losses)
—
—
—
(18)
(1)
Other income
102
172
175
200
123
Total noninterest income
1,553
1,546
1,558
1,400
1,392
Noninterest Expense
Personnel expense
1,727
1,818
1,748
1,678
1,604
Professional fees and outside processing
313
337
346
373
364
Software expense
230
242
233
231
230
Net occupancy expense
179
176
185
181
168
Equipment expense
85
90
90
89
82
Marketing and customer development
79
63
79
82
75
Amortization of intangibles
64
70
72
73
75
Regulatory costs
68
7
32
55
69
Other expense
238
367
229
224
239
Total noninterest expense
2,983
3,170
3,014
2,986
2,906
Earnings
Income before income taxes
1,690
1,564
1,737
1,513
1,535
Provision for income taxes
209
210
285
273
274
Net income (loss) from continuing operations
1,481
1,354
1,452
1,240
1,261
Net income
1,481
1,354
1,452
1,240
1,261
Preferred stock dividends and other
104
65
104
60
104
Net income available to common shareholders
$
1,377
$
1,289
$
1,348
$
1,180
$
1,157
Earnings Per Common Share
Earnings per share-basic
1.10
1.02
1.05
0.91
0.88
Earnings per share-diluted
1.09
1.00
1.04
0.90
0.87
Weighted Average Shares Outstanding
Basic
1,248,628
1,267,341
1,280,571
1,292,292
1,307,457
Diluted
1,266,572
1,285,078
1,296,666
1,305,005
1,324,339
- 2 -
Consolidated Ending Balance Sheets - Five Quarter Trend
March 31
Dec. 31
Sept. 30
June 30
March 31
(Dollars in millions)
2026
2025
2025
2025
2025
Assets
Cash and due from banks
$
4,294
$
4,967
$
4,329
$
5,157
$
5,996
Interest-bearing deposits with banks
31,903
31,410
32,523
36,294
36,175
Securities borrowed or purchased under resale agreements
4,047
3,200
2,981
2,656
2,810
Trading assets at fair value
5,235
5,790
5,731
5,963
5,838
AFS securities at fair value
65,430
65,042
65,522
66,390
68,012
HTM securities at amortized cost
46,436
47,186
48,022
48,973
49,876
Loans and leases:
Commercial:
Commercial and industrial
169,247
167,808
163,607
162,273
156,679
CRE
24,447
23,720
22,414
20,270
19,578
Commercial construction
7,620
7,783
8,027
8,277
8,766
Consumer:
Residential mortgage
56,297
56,807
57,623
57,828
56,099
Home equity
9,633
9,719
9,618
9,591
9,523
Indirect auto
25,054
25,659
25,490
24,558
23,628
Other consumer
32,097
32,181
32,070
31,122
29,537
Credit card
4,843
4,918
4,889
4,877
4,828
Total loans and leases held for investment
329,238
328,595
323,738
318,796
308,638
Loans held for sale
2,174
1,883
1,925
1,203
1,114
Total loans and leases
331,412
330,478
325,663
319,999
309,752
Allowance for loan and lease losses
(5,026)
(5,030)
(4,988)
(4,899)
(4,870)
Premises and equipment
3,145
3,172
3,176
3,197
3,168
Goodwill
17,125
17,125
17,125
17,125
17,125
Core deposit and other intangible assets
1,192
1,256
1,328
1,399
1,473
Loan servicing rights at fair value
4,112
3,972
3,776
3,612
3,628
Other assets
39,670
38,970
38,663
37,967
36,916
Total assets
$
548,975
$
547,538
$
543,851
$
543,833
$
535,899
Liabilities
Deposits:
Noninterest-bearing deposits
$
105,460
$
105,092
$
106,197
$
106,442
$
108,461
Interest checking
123,257
117,830
109,827
118,122
118,043
Money market and savings
135,702
139,044
135,931
133,891
136,777
Time deposits
39,662
38,432
42,952
47,667
40,455
Total deposits
404,081
400,398
394,907
406,122
403,736
Short-term borrowings
27,441
27,839
29,376
16,631
23,730
Long-term debt
41,622
41,963
41,729
44,427
32,030
Other liabilities
11,617
12,149
12,193
11,813
11,768
Total liabilities
484,761
482,349
478,205
478,993
471,264
Shareholders’ Equity:
Preferred stock
4,916
4,916
5,907
5,907
5,907
Common stock
6,229
6,312
6,396
6,447
6,548
Additional paid-in capital
32,610
33,663
34,278
34,620
35,178
Retained earnings
26,796
26,067
25,438
24,759
24,252
Accumulated other comprehensive loss
(6,337)
(5,769)
(6,373)
(6,893)
(7,250)
Total shareholders’ equity
64,214
65,189
65,646
64,840
64,635
Total liabilities and shareholders’ equity
$
548,975
$
547,538
$
543,851
$
543,833
$
535,899
- 3 -
Average Balances and Rates - Quarters
Quarter Ended
March 31, 2026
December 31, 2025
September 30, 2025
June 30, 2025
March 31, 2025
(Dollars in millions)
Average Balances(1)
Income/ Expense(2)
Yields/ Rates(2)
Average Balances(1)
Income/ Expense(2)
Yields/ Rates(2)
Average Balances(1)
Income/ Expense(2)
Yields/ Rates(2)
Average Balances(1)
Income/ Expense(2)
Yields/ Rates(2)
Average Balances(1)
Income/ Expense(2)
Yields/ Rates(2)
Assets
AFS and HTM securities at amortized cost:
U.S. Treasury
$
13,138
$
145
4.48
%
$
13,275
$
162
4.82
%
$
13,351
$
174
5.18
%
$
14,034
$
181
5.20
%
$
14,867
$
191
5.19
%
GSE
474
5
3.98
478
4
3.80
458
4
3.86
463
5
3.73
462
4
3.75
Agency MBS
102,089
696
2.73
103,591
727
2.81
104,998
760
2.89
106,947
772
2.89
108,345
777
2.87
States and political subdivisions
347
3
4.30
349
4
4.27
358
3
4.19
370
4
4.20
370
4
4.20
Other
70
—
1.65
14
—
4.42
15
1
4.50
15
—
4.53
17
—
4.72
Total securities
116,118
849
2.93
117,707
897
3.04
119,180
942
3.16
121,829
962
3.16
124,061
976
3.16
Loans and leases:
Commercial:
Commercial and industrial
166,636
2,179
5.30
163,990
2,267
5.49
162,207
2,312
5.66
158,491
2,262
5.72
155,214
2,184
5.70
CRE
24,165
339
5.64
23,205
354
5.99
21,171
336
6.25
19,687
308
6.22
19,832
302
6.12
Commercial construction
7,845
117
6.21
8,015
129
6.52
8,258
139
6.84
8,613
144
6.85
8,734
145
6.84
Consumer:
Residential mortgage
56,458
582
4.13
57,100
589
4.13
57,676
598
4.15
56,789
579
4.08
55,658
562
4.04
Home equity
9,666
167
6.99
9,679
176
7.24
9,588
182
7.51
9,586
178
7.47
9,569
177
7.48
Indirect auto
25,342
443
7.08
25,639
469
7.27
24,964
459
7.29
24,158
441
7.32
23,248
412
7.19
Other consumer
32,053
662
8.38
32,181
677
8.35
31,714
668
8.36
30,387
634
8.37
29,291
602
8.33
Credit card
4,857
129
10.79
4,956
136
10.89
4,915
146
11.74
4,890
139
11.35
4,849
138
11.60
Total loans and leases held for investment
327,022
4,618
5.71
324,765
4,797
5.87
320,493
4,840
6.00
312,601
4,685
6.01
306,395
4,522
5.97
Loans held for sale
1,950
26
5.24
1,972
28
5.64
1,577
24
6.18
1,240
19
6.15
1,133
17
5.93
Total loans and leases
328,972
4,644
5.71
326,737
4,825
5.87
322,070
4,864
6.00
313,841
4,704
6.01
307,528
4,539
5.97
Interest earning trading assets
5,807
74
5.09
6,015
82
5.38
5,991
86
5.70
5,896
88
5.98
5,628
80
5.72
Other earning assets(3)
35,457
333
3.77
34,138
359
4.13
38,765
445
4.50
39,417
448
4.51
38,997
441
4.53
Total earning assets
486,354
5,900
4.90
484,597
6,163
5.05
486,006
6,337
5.18
480,983
6,202
5.16
476,214
6,036
5.12
Nonearning assets
57,767
57,636
55,819
56,086
55,416
Total assets
$
544,121
$
542,233
$
541,825
$
537,069
$
531,630
Liabilities and Shareholders’ Equity
Interest-bearing deposits:
Interest checking
$
120,110
619
2.09
$
112,313
618
2.18
$
109,244
677
2.46
$
116,193
726
2.51
$
109,208
640
2.37
Money market and savings
136,106
609
1.81
138,114
677
1.95
136,515
755
2.19
135,607
751
2.22
136,897
743
2.20
Time deposits
39,337
297
3.06
40,031
338
3.35
45,090
403
3.54
41,997
367
3.50
40,204
353
3.56
Total interest-bearing deposits
295,553
1,525
2.09
290,458
1,633
2.23
290,849
1,835
2.50
293,797
1,844
2.52
286,309
1,736
2.46
Short-term borrowings
30,669
286
3.78
29,128
300
4.08
26,796
299
4.42
26,241
292
4.47
30,332
336
4.49
Long-term debt
37,141
445
4.80
39,138
481
4.91
41,458
523
5.04
34,213
431
5.02
32,418
409
5.05
Total interest-bearing liabilities
363,363
2,256
2.51
358,724
2,414
2.67
359,103
2,657
2.94
354,251
2,567
2.91
349,059
2,481
2.88
Noninterest-bearing deposits
103,371
105,552
105,751
106,686
105,895
Other liabilities
12,593
12,619
11,922
11,897
12,643
Shareholders’ equity
64,794
65,338
65,049
64,235
64,033
Total liabilities and shareholders’ equity
$
544,121
$
542,233
$
541,825
$
537,069
$
531,630
Average interest-rate spread
2.39
2.38
2.24
2.25
2.24
Net interest income / net interest margin -TE(2)
$
3,644
3.02
%
$
3,749
3.07
%
$
3,680
3.01
%
$
3,635
3.02
%
$
3,555
3.01
%
TE adjustment(2)
45
49
51
48
48
T6Net interest income
$
3,599
$
3,700
$
3,629
$
3,587
$
3,507
Memo: Total deposits
$
398,924
1,525
1.55
%
$
396,010
1,633
1.64
%
$
396,600
1,835
1.84
%
$
400,483
1,844
1.85
%
$
392,204
1,736
1.79
%
(1)Represents daily average balances. Unrealized gains and losses on AFS securities are included in nonearning assets. Active hedge basis adjustments for fair value hedges are included in nonearning assets and other liabilities.
(2)Amounts related to interest income and yields are on a TE basis, which represents a non-GAAP measure, utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. A reconciliation of net interest income - TE to net interest income is included within the table above. NIM – TE is calculated using net interest income on a TE basis to determine the total yield on interest-earning assets.
(3)Includes cash equivalents, interest-bearing deposits with banks, FHLB stock, and other earning assets.
- 4 -
Credit Quality
March 31
Dec. 31
Sept. 30
June 30
March 31
(Dollars in millions)
2026
2025
2025
2025
2025
Nonperforming Assets
Nonaccrual loans and leases:
Commercial:
Commercial and industrial
$
738
$
839
$
800
$
520
$
586
CRE
21
47
98
128
294
Commercial construction
23
41
42
1
2
Consumer:
Residential mortgage
231
213
196
191
179
Home equity
101
99
103
107
114
Indirect auto
455
267
247
240
248
Other consumer
73
71
66
64
65
Total nonaccrual loans and leases held for investment
1,642
1,577
1,552
1,251
1,488
Loans held for sale
79
—
19
12
77
Total nonaccrual loans and leases
1,721
1,577
1,571
1,263
1,565
Foreclosed real estate
6
3
4
4
4
Other foreclosed property
58
53
54
49
49
Total nonperforming assets
$
1,785
$
1,633
$
1,629
$
1,316
$
1,618
Loans 90 Days or More Past Due and Still Accruing
Commercial:
Commercial and industrial
$
4
$
3
$
3
$
2
$
5
Consumer:
Residential mortgage - government guaranteed
609
532
438
424
468
Residential mortgage - nonguaranteed
39
38
41
41
62
Home equity
7
7
6
6
6
Other consumer
26
28
27
24
23
Credit card
75
76
69
49
52
Total loans 90 days past due and still accruing
$
760
$
684
$
584
$
546
$
616
Loans 30-89 Days Past Due and Still Accruing
Commercial:
Commercial and industrial
$
260
$
127
$
73
$
122
$
118
CRE
42
25
6
34
12
Commercial construction
10
36
5
15
—
Consumer:
Residential mortgage - government guaranteed
263
329
327
330
284
Residential mortgage - nonguaranteed
293
357
344
365
347
Home equity
57
69
54
54
57
Indirect auto
508
679
620
582
484
Other consumer
240
281
241
239
246
Credit card
70
77
73
70
71
Total loans 30-89 days past due and still accruing
$
1,743
$
1,980
$
1,743
$
1,811
$
1,619
As of/For the Quarter Ended
March 31
Dec. 31
Sept. 30
June 30
March 31
2026
2025
2025
2025
2025
Asset Quality Ratios
Nonperforming loans and leases as a percentage of loans and leases
0.50
%
0.48
%
0.48
%
0.39
%
0.48
%
Nonperforming loans and leases(1) as a percentage of total loans and leases(1)
0.52
0.48
0.48
0.39
0.51
Nonperforming assets(1) as a percentage of total assets
0.33
0.30
0.30
0.24
0.30
Nonperforming assets as a percentage of loans and leases plus foreclosed property
0.52
0.50
0.50
0.41
0.50
Loans 90 days or more past due and still accruing as a percentage of loans and leases
0.23
0.21
0.18
0.17
0.20
Loans 90 days or more past due and still accruing as a percentage of loans and leases, excluding government guaranteed loans
0.05
0.05
0.05
0.04
0.05
Loans 30-89 days past due and still accruing as a percentage of loans and leases
0.53
0.60
0.54
0.57
0.52
Allowance for loan and lease losses as a percentage of loans and leases
1.53
1.53
1.54
1.54
1.58
Ratio of allowance for loan and lease losses to:
Net charge-offs (annualized)
2.5X
2.7X
3.3X
3.1X
2.6X
Nonperforming loans and leases
3.1X
3.2X
3.2X
3.9X
3.3X
(1)Nonperforming assets and total loans and leases include loans held for sale.
- 5 -
As of/For the Quarter Ended
March 31
Dec. 31
Sept. 30
June 30
March 31
(Dollars in millions)
2026
2025
2025
2025
2025
Allowance for Credit Losses
Beginning balance
$
5,347
$
5,305
$
5,253
$
5,166
$
5,161
Provision for credit losses
479
512
436
488
458
Charge-offs:
Commercial:
Commercial and industrial
(142)
(141)
(98)
(120)
(102)
CRE
(7)
(14)
(25)
(38)
(70)
Commercial construction
(17)
—
—
—
—
Consumer:
Residential mortgage
(1)
(3)
(1)
(1)
(1)
Home equity
(3)
(2)
(2)
(4)
(2)
Indirect auto
(158)
(160)
(150)
(127)
(154)
Other consumer
(184)
(178)
(155)
(146)
(154)
Credit card
(71)
(67)
(49)
(70)
(74)
Total charge-offs
(583)
(565)
(480)
(506)
(557)
Recoveries:
Commercial:
Commercial and industrial
16
23
20
31
24
CRE
3
6
2
3
7
Commercial construction
1
1
—
1
—
Consumer:
Residential mortgage
2
1
2
—
2
Home equity
3
3
5
4
4
Indirect auto
25
24
25
28
25
Other consumer
33
28
31
31
30
Credit card
9
9
10
12
11
Total recoveries
92
95
95
110
103
Net charge-offs
(491)
(470)
(385)
(396)
(454)
Other
—
—
1
(5)
1
Ending balance
$
5,335
$
5,347
$
5,305
$
5,253
$
5,166
Allowance for Credit Losses:
Allowance for loan and lease losses
$
5,026
$
5,030
$
4,988
$
4,899
$
4,870
Reserve for unfunded lending commitments
309
317
317
354
296
Allowance for credit losses
$
5,335
$
5,347
$
5,305
$
5,253
$
5,166
Quarter Ended
March 31
Dec. 31
Sept. 30
June 30
March 31
2026
2025
2025
2025
2025
Net Charge-offs as a Percentage of Average Loans and Leases:
Commercial:
Commercial and industrial
0.31
%
0.29
%
0.19
%
0.22
%
0.20
%
CRE
0.06
0.14
0.44
0.71
1.29
Commercial construction
0.84
(0.04)
(0.03)
(0.02)
(0.02)
Consumer:
Residential mortgage
(0.01)
0.01
—
—
—
Home equity
(0.02)
(0.04)
(0.11)
(0.04)
(0.07)
Indirect auto
2.14
2.10
1.99
1.63
2.26
Other consumer
1.91
1.84
1.55
1.54
1.71
Credit card
5.15
4.64
3.13
4.84
5.21
Total loans and leases
0.61
0.57
0.48
0.51
0.60
Ratios are annualized.
- 6 -
Segment Financial Performance - Preliminary
Quarter Ended
March 31
Dec. 31
Sept. 30
June 30
March 31
(Dollars in millions)
2026
2025
2025
2025
2025
Consumer and Small Business Banking
Net interest income (expense)
$
1,605
$
1,621
$
1,570
$
1,496
$
1,435
Net intersegment interest income (expense)
891
865
854
830
813
Segment net interest income (expense)
2,496
2,486
2,424
2,326
2,248
Allocated provision for credit losses
374
431
400
384
327
Noninterest income
529
521
530
519
503
Personnel expense
433
443
449
434
434
Amortization of intangibles
34
36
39
39
39
Other direct noninterest expense
293
288
280
286
287
Direct noninterest expense
760
767
768
759
760
Expense allocations
920
934
937
940
903
Total noninterest expense
1,680
1,701
1,705
1,699
1,663
Income (loss) before income taxes
971
875
849
762
761
Provision (benefit) for income taxes
238
212
207
186
185
Segment net income (loss)
$
733
$
663
$
642
$
576
$
576
Wholesale Banking
Net interest income (expense)
$
1,922
$
2,019
$
2,029
$
1,872
$
1,883
Net intersegment interest income (expense)
(416)
(401)
(450)
(303)
(381)
Segment net interest income (expense)
1,506
1,618
1,579
1,569
1,502
Allocated provision for credit losses
105
82
36
104
132
Noninterest income
1,068
1,134
1,142
941
947
Personnel expense
612
668
598
573
557
Amortization of intangibles
30
34
33
34
36
Other direct noninterest expense
187
188
199
203
193
Direct noninterest expense
829
890
830
810
786
Expense allocations
521
465
485
519
517
Total noninterest expense
1,350
1,355
1,315
1,329
1,303
Income (loss) before income taxes
1,119
1,315
1,370
1,077
1,014
Provision (benefit) for income taxes
231
273
285
214
201
Segment net income (loss)
$
888
$
1,042
$
1,085
$
863
$
813
Other, Treasury & Corporate(1)
Net interest income (expense)
$
72
$
60
$
30
$
219
$
189
Net intersegment interest income (expense)
(475)
(464)
(404)
(527)
(432)
Segment net interest income (expense)
(403)
(404)
(374)
(308)
(243)
Allocated provision for credit losses
—
(1)
—
—
(1)
Noninterest income
(44)
(109)
(114)
(60)
(58)
Personnel expense
682
707
701
671
613
Amortization of intangibles
—
—
—
—
—
Other direct noninterest expense
712
806
715
746
747
Direct Noninterest Expense
1,394
1,513
1,416
1,417
1,360
Expense Allocations
(1,441)
(1,399)
(1,422)
(1,459)
(1,420)
Total noninterest expense
(47)
114
(6)
(42)
(60)
Income (loss) before income taxes
(400)
(626)
(482)
(326)
(240)
Provision (benefit) for income taxes
(260)
(275)
(207)
(127)
(112)
Segment net income (loss)
$
(140)
$
(351)
$
(275)
$
(199)
$
(128)
Total Truist Financial Corporation
Net interest income (expense)
$
3,599
$
3,700
$
3,629
$
3,587
$
3,507
Net intersegment interest income (expense)
—
—
—
—
—
Segment net interest income (expense)
3,599
3,700
3,629
3,587
3,507
Allocated provision for credit losses
479
512
436
488
458
Noninterest income
1,553
1,546
1,558
1,400
1,392
Personnel expense
1,727
1,818
1,748
1,678
1,604
Amortization of intangibles
64
70
72
73
75
Other direct noninterest expense
1,192
1,282
1,194
1,235
1,227
Direct Noninterest Expense
2,983
3,170
3,014
2,986
2,906
Expense Allocations
—
—
—
—
—
Total noninterest expense
2,983
3,170
3,014
2,986
2,906
Income before income taxes
1,690
1,564
1,737
1,513
1,535
Provision for income taxes
209
210
285
273
274
Net Income from continuing operations
$
1,481
$
1,354
$
1,452
$
1,240
$
1,261
(1)Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure.
- 7 -
Capital Information - Five Quarter Trend
As of/For the Quarter Ended
March 31
Dec. 31
Sept. 30
June 30
March 31
(Dollars in millions, except per share data, shares in thousands)
2026
2025
2025
2025
2025
Selected Capital Information
(preliminary)
Risk-based capital:
Common equity tier 1
$
47,684
$
48,027
$
48,031
$
47,678
$
47,767
Tier 1
52,597
52,940
53,935
53,582
53,671
Total
60,471
61,255
62,377
62,119
62,349
Risk-weighted assets
441,485
443,257
438,114
434,609
424,059
Average quarterly assets for leverage ratio
530,908
529,156
529,861
525,567
519,981
Average quarterly assets for supplementary leverage ratio
637,276
635,249
635,076
626,855
619,992
Risk-based capital ratios:
Common equity tier 1
10.8
%
10.8
%
11.0
%
11.0
%
11.3
%
Tier 1
11.9
11.9
12.3
12.3
12.7
Total
13.7
13.8
14.2
14.3
14.7
Leverage capital ratio
9.9
10.0
10.2
10.2
10.3
Supplementary leverage
8.3
8.3
8.5
8.5
8.7
Common equity per common share
$
47.60
$
47.74
$
46.70
$
45.70
$
44.85
- 8 -
Selected Mortgage Banking Information & Additional Information
As of/For the Quarter Ended
March 31
Dec. 31
Sept. 30
June 30
March 31
(Dollars in millions, except per share data)
2026
2025
2025
2025
2025
Mortgage Banking Income
Residential mortgage income:
Residential mortgage production revenue
$
27
$
26
$
22
$
25
$
19
Residential mortgage servicing income:
Residential mortgage servicing income before MSR valuation
82
77
74
72
87
Net MSRs valuation
9
1
9
1
(4)
Total residential mortgage servicing income
91
78
83
73
83
Total residential mortgage income
118
104
105
98
102
Commercial mortgage income:
Commercial mortgage production revenue
12
12
10
6
2
Commercial mortgage servicing income:
Commercial mortgage servicing income before MSR valuation
3
2
4
3
4
Net MSRs valuation
—
1
(1)
—
—
Total commercial mortgage servicing income
3
3
3
3
4
Total commercial mortgage income
15
15
13
9
6
Total mortgage banking income
$
133
$
119
$
118
$
107
$
108
Other Mortgage Banking Information
Residential mortgage loan originations
$
5,137
$
4,551
$
4,743
$
5,855
$
3,626
Residential mortgage servicing portfolio:(1)
Loans serviced for others
233,870
228,383
221,274
213,002
216,148
Bank-owned loans serviced
57,386
57,583
58,396
57,748
55,120
Total servicing portfolio
291,256
285,966
279,670
270,750
271,268
Weighted-average coupon rate on mortgage loans serviced for others
3.77
%
3.77
%
3.75
%
3.70
%
3.68
%
Weighted-average servicing fee on mortgage loans serviced for others
0.29
0.28
0.28
0.28
0.28
Additional Information
Brokered deposits(2)
$
28,488
$
29,835
$
28,423
$
30,008
$
27,585
NQDCP income (expense):(3)
Interest income
$
(6)
$
4
$
1
$
—
$
—
Other income
(7)
(1)
17
21
(6)
Personnel expense
13
(3)
(18)
(21)
6
Total NQDCP income (expense)
$
—
$
—
$
—
$
—
$
—
Common stock prices:
High
$
56.20
$
50.86
$
47.46
$
43.25
$
48.53
Low
43.13
40.78
41.98
33.56
39.41
End of period
45.97
49.21
45.72
42.99
41.15
Banking offices
1,927
1,927
1,927
1,927
1,928
ATMs
2,826
2,829
2,837
2,847
2,861
Full-time equivalent teammates(4)
37,877
38,062
38,534
37,996
37,529
(1)Amounts reported are unpaid principal balance.
(2)Amounts represented in interest checking, money market and savings, and time deposits.
(3)Relates to plans where Truist holds assets in proportion to participant elections.
(4)Full-time equivalent teammates represents an average for the quarter.
- 9 -
Selected Items(1)
Favorable (Unfavorable)
(Dollars in millions, except per share data)
Description
Pre-Tax
After-Tax at Marginal Rate
Impact to Diluted EPS(2)
Selected Items
First Quarter 2026
None
Fourth Quarter 2025
Legal accrual
$
(130)
$
(99)
$
(0.08)
Third Quarter 2025
None
Second Quarter 2025
Loss on sale of securities (securities gains (losses))
$
(18)
$
(13)
$
(0.01)
First Quarter 2025
None
(1)Includes certain selected items from the consolidated statements of income.
(2)Diluted EPS impact for individual items may not foot to difference between GAAP diluted and adjusted EPS due to rounding.
- 10 -
Non-GAAP Reconciliations
Pre-Provision Net Revenue from Continuing Operations
Quarter Ended
March 31
Dec. 31
Sept. 30
June 30
March 31
(Dollars in millions)
2026
2025
2025
2025
2025
Net income from continuing operations
$
1,481
$
1,354
$
1,452
$
1,240
$
1,261
Provision for credit losses
479
512
436
488
458
Provision for income taxes
209
210
285
273
274
Taxable-equivalent adjustment
45
49
51
48
48
Pre-provision net revenue(1)
$
2,214
$
2,125
$
2,224
$
2,049
$
2,041
(1)Pre-provision net revenue is a non-GAAP measure that adjusts net income determined in accordance with GAAP to exclude the impact of the provision for credit losses and provision for income taxes. Truist’s management calculated this measure based on Truist’s continuing operations. Truist’s management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods.
Return on Average Tangible Common Shareholders’ Equity
Quarter Ended
March 31
Dec. 31
Sept. 30
June 30
March 31
(Dollars in millions)
2026
2025
2025
2025
2025
Net income available to common shareholders
$
1,377
$
1,289
$
1,348
$
1,180
$
1,157
Amortization of intangibles
64
70
72
73
75
Applicable income taxes related to the amortization of intangibles
(15)
(16)
(18)
(17)
(18)
Tangible net income available to common shareholders(1)
$
1,426
$
1,343
$
1,402
$
1,236
$
1,214
Average common shareholders’ equity
$
59,879
$
59,991
$
59,141
$
58,327
$
58,125
Average intangible assets
(18,386)
(18,456)
(18,528)
(18,590)
(18,669)
Applicable deferred taxes related to intangible assets(2)
404
409
415
417
422
Average tangible common shareholders’ equity(1)
$
41,897
$
41,944
$
41,028
$
40,154
$
39,878
Return on average common shareholders’ equity
9.3
%
8.5
%
9.0
%
8.1
%
8.1
%
Return on average tangible common shareholders’ equity(1)
13.8
12.7
13.6
12.3
12.3
(1)Tangible net income available to common shareholders, average tangible common shareholders’ equity, and return on average tangible common shareholders' equity are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes. These measures are useful for evaluating the performance of a business consistently, whether acquired or developed internally. Truist’s management uses these measures to assess balance sheet risk and shareholder value. These measures are not necessarily comparable to similar measures that may be presented by other companies.
(2)Calculated using the applicable marginal tax rate.
Tangible Book Value per Common Share
March 31
Dec. 31
Sept. 30
June 30
March 31
(Dollars in millions, except per share data, shares in thousands)
2026
2025
2025
2025
2025
Calculations of Tangible Common Equity and Related Measures:(1)
Total shareholders’ equity
$
64,214
$
65,189
$
65,646
$
64,840
$
64,635
Preferred stock
(4,916)
(4,916)
(5,907)
(5,907)
(5,907)
Intangible assets
(18,350)
(18,416)
(18,489)
(18,561)
(18,624)
Applicable deferred taxes related to intangible assets(2)
403
407
413
418
421
Tangible common equity
$
41,351
$
42,264
$
41,663
$
40,790
$
40,525
Outstanding shares at end of period
1,245,879
1,262,470
1,279,246
1,289,435
1,309,539
Common equity per common share
$
47.60
$
47.74
$
46.70
$
45.70
$
44.85
Tangible common equity per common share
33.19
33.48
32.57
31.63
30.95
(1)Tangible common equity and related measures are non-GAAP measures that exclude preferred stock and intangible assets, net of deferred taxes. These measures are useful for evaluating the performance of a business consistently, whether acquired or developed internally. Truist’s management uses these measures to assess balance sheet risk and shareholder value. These measures are not necessarily comparable to similar measures that may be presented by other companies.
(2)Calculated using the applicable marginal tax rate.
- 11 -
Mentions · how they’re counted
| Category | Underlined | Word counter | Model’s count |
|---|---|---|---|
| AI AI, artificial intelligence, generative AI, machine learning, large language model, LLM | 0 | 0 | 0 |
| Layoffs layoffs, RIF, headcount reduction, workforce optimization, restructuring | 0 | — | 0 |
| Recession recession, downturn, contraction, slowdown | 0 | 0 | 0 |
| Tariffs tariff, trade war, trade barriers, trade restrictions, trade policy | 0 | 0 | 0 |
| Buybacks share repurchase, buyback program | 0 | — | 0 |
Underlines use the same word lists the scores use. AI, recession and tariffs follow Palanor’s word counter, so those counts match it exactly on the same text. Layoffs and buybacks use the terms the model was given. The model’s count is an estimate by meaning, not by string, so it can differ from the underlines.
Source: SEC EDGAR · public domain · Highlights by Palanor