Form 8-K
8-K — TRUIST FINANCIAL CORP
Accession: 0000092230-26-000096
Filed: 2026-07-17
Period: 2026-07-17
CIK: 0000092230
SIC: 6021 (NATIONAL COMMERCIAL BANKS)
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — tfc-20260717.htm (Primary)
EX-99.1 (ex991-pr2q26.htm)
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8-K
8-K (Primary)
Filename: tfc-20260717.htm · Sequence: 1
tfc-20260717
0000092230FALSE00000922302026-07-172026-07-170000092230us-gaap:CommonStockMember2026-07-172026-07-170000092230tfc:SeriesIPreferredStockMember2026-07-172026-07-170000092230tfc:SeriesJPreferredStockMember2026-07-172026-07-170000092230tfc:SeriesOPreferredStockMember2026-07-172026-07-170000092230tfc:SeriesRPreferredStockMember2026-07-172026-07-17
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________________________
Form 8-K
Current Report
_____________________________________________
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
July 17, 2026
Date of Report (Date of earliest event reported)
Truist Financial Corporation
(Exact name of registrant as specified in its charter)
_____________________________________________
North Carolina 1-10853 56-0939887
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
214 North Tryon Street
Charlotte,
North Carolina
28202
(Address of principal executive offices)
(Zip Code)
(844) 487-8478
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
_____________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $5 par value TFC New York Stock Exchange
Depositary Shares each representing 1/4,000th interest in a share of Series I Perpetual Preferred Stock TFC.PI New York Stock Exchange
5.853% Fixed-to-Floating Rate Normal Preferred Purchase Securities each representing 1/100th interest in a share of Series J Perpetual Preferred Stock TFC.PJ New York Stock Exchange
Depositary Shares each representing 1/1,000th interest in a share of Series O Non-Cumulative Perpetual Preferred Stock TFC.PO New York Stock Exchange
Depositary Shares each representing 1/1,000th interest in a share of Series R Non-Cumulative Perpetual Preferred Stock TFC.PR New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
ITEM 2.02 Results of Operations and Financial Condition.
On July 17, 2026, Truist Financial Corporation (“Truist”) issued a press release announcing its reporting of second quarter 2026 results and posted on its website its second quarter 2026 Earnings Release, Quarterly Performance Summary, and Earnings Release Presentation. The materials contain forward-looking statements regarding Truist and include cautionary language identifying important factors that could cause actual results to differ materially from those anticipated.
The information included in Exhibits 99.1 and 99.2, other than the quotation under the heading “CEO Commentary” on page 1 of Exhibit 99.1, shall be deemed “filed” for purposes of the Securities Exchange Act of 1934 (“Exchange Act”). The (i) quotation under the heading “CEO Commentary” on page 1 of Exhibit 99.1 and (ii) the Earnings Release Presentation included as Exhibit 99.3 are being furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities under that section. Such quotation and Presentation will not be deemed incorporated by reference into another filing under the Exchange Act or Securities Act of 1933, except as otherwise expressly stated in such subsequent filing.
All information in the Earnings Release, Quarterly Performance Summary, and Earnings Release Presentation speaks as of the date thereof, and Truist does not assume any obligation to update such information in the future.
ITEM 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1
Earnings Release issued July 17, 2026.
99.2
Quarterly Performance Summary issued July 17, 2026.
99.3
Earnings Release Presentation issued July 17, 2026.
104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
TRUIST FINANCIAL CORPORATION
(Registrant)
By: /s/ Cynthia B. Powell
Cynthia B. Powell
Executive Vice President and Corporate Controller
(Principal Accounting Officer)
Date: July 17, 2026
EX-99.1
EX-99.1
Filename: ex991-pr2q26.htm · Sequence: 2
Document
`
News Release
Truist reports second quarter 2026 results
Net income available to common shareholders of $1.5 billion
EPS of $1.23 per diluted share, up 37% compared to 2Q25
Continued to return significant capital to shareholders through $1.8 billion of dividends and repurchases of common shares
2Q26 Key Financial Data
2Q26 Performance Highlights(3)
(Dollars in billions, except per share data) 2Q26 1Q26 2Q25
Summary Income Statement
Net interest income $ 3.62 $ 3.60 $ 3.59
Net interest income - TE(1)
3.67 3.64 3.64
Noninterest income 1.64 1.55 1.40
Total revenue 5.27 5.15 4.99
Total revenue - TE(1)
5.31 5.20 5.04
Noninterest expense 3.06 2.98 2.99
Net income 1.55 1.48 1.24
Net income available to common shareholders 1.52 1.38 1.18
PPNR(1)
2.26 2.21 2.05
Key Metrics
Diluted EPS $ 1.23 $ 1.09 $ 0.90
BVPS 48.04 47.60 45.70
TBVPS(1)
33.40 33.19 31.63
ROCE 10.4 % 9.3 % 8.1 %
ROTCE(1)
15.4 13.8 12.3
Efficiency ratio
58.0 57.9 59.9
NIM - TE(1)
2.98 3.02 3.02
NCO ratio 0.50 0.61 0.51
ALLL ratio 1.51 1.53 1.54
CET1 ratio(2)
10.9 10.8 11.0
Average Balances
Assets $ 550 $ 544 $ 537
Securities 118 116 122
Loans and leases 332 329 314
Deposits 405 399 400
Amounts may not foot due to rounding.
(1)Represents a non-GAAP measure. For additional details, see the “Non-GAAP Financial Information” section of this release and reconciliations of non-GAAP measures to the most directly comparable GAAP measures included in this release or Truist’s Second Quarter 2026 Quarterly Performance Summary.
(2)Current quarter capital ratios are preliminary.
(3)This section summarizes changes from second quarter of 2026 compared to first quarter of 2026, unless otherwise noted.
•Net income available to common shareholders was $1.5 billion, or $1.23 per diluted share, resulting in a ROCE of 10.4% and ROTCE(1) of 15.4%
•Total revenue - TE(1) was up 2.2%
◦Net interest income - TE(1) increased 0.6%; NIM - TE(1) was down four basis points
◦Noninterest income was up $91 million, or 5.9%, driven by income from equity investments
•Total revenue - TE(1) was up 5.5% compared to the second quarter of 2025 due to higher investment banking and trading and wealth management income
•Noninterest expense was up $72 million, or 2.4%, reflecting higher variable incentives and continued investment in talent and technology
•Noninterest expense was up $69 million, or 2.3%, compared to the second quarter of 2025 due to higher personnel expense, partially offset by lower professional fees and outside processing expense
•Average loans and leases HFI were $329.2 billion, up $2.1 billion, or 0.7%, due to continued commercial and industrial loan growth
•Average deposits were up $5.9 billion, or 1.5%, reflecting deposit growth in interest checking
•Asset quality remains strong
◦NCO ratio of 50 basis points was down 11 basis points driven by declines in net charge-offs across most portfolios
◦Loans 90 days or more past due and still accruing were 0.04% of total loans HFI, excluding government guaranteed loans
◦Nonperforming loans to total loans HFI were up slightly at 0.51%
◦ALLL ratio of 1.51% was down two basis points
•Capital levels remain strong
◦Repurchased $1.2 billion of common shares, resulting in dividend and total payout ratios of 42% and 121%, respectively
◦CET1 ratio(2) was 10.9%
CEO Commentary
“We delivered strong second-quarter results, with earnings per share increasing 37% year over year, driven by disciplined execution against our strategic priorities, higher fee income, strong credit performance, and the return of capital to shareholders.
We continued to deepen client relationships, grow in attractive markets, and improve operating efficiency and profitability. The strength of our performance reinforces our confidence in our ability to achieve and sustain the profitability and return objectives we have committed to deliver.
During the quarter, we announced that Mike Lyons will become Truist's next CEO in September. Mike is a dynamic and highly respected financial services leader who recognizes the strength of our franchise and the significant opportunities ahead. We share a common vision of building on our momentum, continuing to improve performance, and creating long-term value for our shareholders.”
— Bill Rogers, Truist Chairman & CEO
`
Contact:
Investors: Brad Milsaps investors@truist.com
Media: Kyle Tarrance media@truist.com
Net Interest Income, Net Interest Margin, and Average Balances
Quarter Ended Change
(Dollars in millions) 2Q26 1Q26 2Q25
Link Quarter
Like Quarter
Interest income $ 5,967 $ 5,855 $ 6,154 $ 112 1.9 % $ (187) (3.0) %
Plus: TE adjustment(1)
46 45 48 1 2.2 (2) (4.2)
Interest income - TE(1)
6,013 5,900 6,202 113 1.9 (189) (3.0)
Interest expense 2,346 2,256 2,567 90 4.0 (221) (8.6)
Net interest income - TE(1)
$ 3,667 $ 3,644 $ 3,635 $ 23 0.6 $ 32 0.9
NIM - TE(1)
2.98 % 3.02 % 3.02 % (4) bps (4) bps
Average Balances(2)
Total earning assets $ 492,461 $ 486,354 $ 480,983 $ 6,107 1.3 % $ 11,478 2.4 %
Total interest-bearing liabilities 370,782 363,363 354,251 7,419 2.0 16,531 4.7
Yields / Rates(1)
Total earning assets 4.89 % 4.90 % 5.16 % (1) bp (27) bps
Total interest-bearing liabilities 2.54 2.51 2.91 3 bps (37) bps
(1)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.
(2)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.
Taxable-equivalent net interest income was up $23 million, or 0.6%, compared to the first quarter of 2026, driven by an additional day and higher earning assets, partially offset by lower loan spreads. NIM - TE was 2.98%, down four basis points compared to the first quarter of 2026, driven by slightly higher funding costs, lower loan spreads, and a larger balance sheet.
•Average earning assets increased $6.1 billion, or 1.3%, primarily due to increases in average total loans of $2.8 billion, or 0.8%, and average securities of $2.0 billion, or 1.7%.
•The yield on the average total loan portfolio was 5.68%, down three basis points. The yield on the average securities portfolio was 2.96%, up three basis points.
•Average deposits increased $5.9 billion, or 1.5%, average short-term borrowings decreased $1.8 billion, or 5.8%, and average long-term debt increased $3.5 billion, or 9.4%.
•The average cost of total deposits was 1.56%, up one basis point. The average cost of short-term borrowings was 3.97%, up 19 basis points. The average cost of long-term debt was 4.77%, down three basis points.
Taxable-equivalent net interest income was up $32 million, or 0.9%, compared to the second quarter of 2025, driven by higher earning assets and loan growth, partially offset by lower loan spreads and fixed-rate debt repricing. NIM - TE was 2.98%, down four basis points compared to the second quarter of 2025.
•Average earning assets increased $11.5 billion, or 2.4%, primarily due to an increase in average total loans of $17.9 billion, or 5.7%, partially offset by a decline in average securities of $3.7 billion, or 3.0%, and average other earning assets (primarily cash at the Federal Reserve) of $2.5 billion, or 6.2%.
•The yield on the average total loan portfolio was 5.68%, down 33 basis points. The yield on the average securities portfolio was 2.96%, down 20 basis points.
•Average deposits increased $4.4 billion, or 1.1%, average short-term borrowings increased $2.7 billion, or 10%, and average long-term debt increased $6.4 billion, or 19%.
•The average cost of total deposits was 1.56%, down 29 basis points. The average cost of short-term borrowings was 3.97%, down 50 basis points. The average cost of long-term debt was 4.77%, down 25 basis points.
- 2 -
Noninterest Income
Quarter Ended Change
(Dollars in millions) 2Q26 1Q26 2Q25
Link Quarter
Like Quarter
Wealth management income $ 375 $ 370 $ 348 $ 5 1.4 % $ 27 7.8 %
Card and treasury management fees
353 338 351 15 4.4 2 0.6
Investment banking and trading income 352 372 205 (20) (5.4) 147 71.7
Other deposit revenue
120 120 108 — — 12 11.1
Mortgage banking income 116 133 107 (17) (12.8) 9 8.4
Lending related fees 120 118 99 2 1.7 21 21.2
Securities gains (losses) — — (18) — — 18 NM
Other income
208 102 200 106 NM 8 4.0
Total noninterest income $ 1,644 $ 1,553 $ 1,400 $ 91 5.9 $ 244 17.4
Noninterest income was up $91 million, or 5.9%, compared to the first quarter of 2026.
•Other income increased primarily due to higher returns from investments held for post-retirement benefits (which is offset by higher personnel expense), and higher income from equity investments.
•Investment banking and trading income decreased primarily due to lower capital markets revenue, partially offset by higher trading income.
Noninterest income was up $244 million, or 17%, compared to the second quarter of 2025.
•Investment banking and trading income increased primarily due to higher trading income and capital markets revenue.
•Wealth management income increased primarily due to higher assets under management.
Noninterest Expense
Quarter Ended Change
(Dollars in millions) 2Q26 1Q26 2Q25
Link Quarter
Like Quarter
Personnel expense
$ 1,792 $ 1,727 $ 1,678 $ 65 3.8 % $ 114 6.8 %
Professional fees and outside processing
335 313 373 22 7.0 (38) (10.2)
Software expense 239 230 231 9 3.9 8 3.5
Net occupancy expense
171 179 181 (8) (4.5) (10) (5.5)
Equipment expense 79 85 89 (6) (7.1) (10) (11.2)
Marketing and customer development 91 79 82 12 15.2 9 11.0
Amortization of intangibles 63 64 73 (1) (1.6) (10) (13.7)
Regulatory costs 61 68 55 (7) (10.3) 6 10.9
Other expense
224 238 224 (14) (5.9) — —
Total noninterest expense $ 3,055 $ 2,983 $ 2,986 $ 72 2.4 $ 69 2.3
Noninterest expense was up $72 million, or 2.4%, compared to the first quarter of 2026.
•Personnel expense increased primarily due to higher salaries and variable incentives and higher post-retirement benefit expense (which is offset by higher other income), partially offset by lower other benefit expenses and seasonally lower payroll taxes.
•Professional fees and outside processing expense increased primarily due to continued investment in technology infrastructure.
Noninterest expense was up $69 million, or 2.3%, compared to the second quarter of 2025.
•Personnel expense increased primarily due to higher salaries and incentives, partially offset by lower benefit expenses.
•Professional fees and outside processing expense decreased primarily due to the completion of various projects.
- 3 -
Provision for Income Taxes
Quarter Ended Change
(Dollars in millions) 2Q26 1Q26 2Q25
Link Quarter
Like Quarter
Provision for income taxes $ 262 $ 209 $ 273 $ 53 25.4% $ (11) (4.0)%
Effective tax rate 14.4 % 12.4 % 18.0 % 200 bps (360) bps
The higher effective tax rate for the second quarter of 2026 compared to the first quarter of 2026 was primarily driven by lower discrete tax benefits.
The lower effective tax rate for the second quarter of 2026 compared to the second quarter of 2025 was primarily driven by tax credit activity.
Average Loans and Leases
(Dollars in millions) 2Q26 1Q26 Change % Change
Commercial:
Commercial and industrial $ 168,817 $ 166,636 $ 2,181 1.3 %
CRE 24,938 24,165 773 3.2
Commercial construction 7,455 7,845 (390) (5.0)
Total commercial 201,210 198,646 2,564 1.3
Consumer:
Residential mortgage 56,342 56,458 (116) (0.2)
Home equity 9,656 9,666 (10) (0.1)
Indirect auto 24,430 25,342 (912) (3.6)
Other consumer 32,661 32,053 608 1.9
Total consumer 123,089 123,519 (430) (0.3)
Credit card 4,863 4,857 6 0.1
Total loans and leases held for investment $ 329,162 $ 327,022 $ 2,140 0.7
Average loans and leases HFI were $329.2 billion, an increase of $2.1 billion, or 0.7%, compared to the first quarter of 2026.
•Average commercial loans increased 1.3% primarily due to an increase in the commercial and industrial and CRE portfolios.
•Average consumer loans decreased 0.3% primarily due to a decline in the indirect auto portfolio, partially offset by an increase in the other consumer portfolio.
End of period loans and leases HFI were $329.8 billion, up $558 million, or 0.2%, compared to March 31, 2026, primarily due to increases in the other consumer and CRE portfolios, partially offset by a decline in the indirect auto portfolio.
Average Deposits
(Dollars in millions) 2Q26 1Q26 Change % Change
Noninterest-bearing deposits $ 103,620 $ 103,371 $ 249 0.2 %
Interest checking 123,556 120,110 3,446 2.9
Money market and savings 136,423 136,106 317 0.2
Time deposits 41,270 39,337 1,933 4.9
Total deposits $ 404,869 $ 398,924 $ 5,945 1.5
Average deposits for the second quarter of 2026 were $404.9 billion, up $5.9 billion, or 1.5%, compared to the first quarter of 2026, driven by an increase in interest checking. Average noninterest-bearing deposits increased 0.2% compared to the first quarter of 2026 and represented 25.6% of total deposits for the second quarter of 2026 and 25.9% for the first quarter of 2026.
End of period deposits were $409.4 billion, up $5.3 billion, or 1.3%, compared to March 31, 2026, primarily due to an increase in interest checking deposits and time deposits, partially offset by a decline in money market and savings and noninterest-bearing deposits.
- 4 -
Capital Ratios
2Q26 1Q26 4Q25 3Q25 2Q25
Risk-based: (preliminary)
CET1 10.9 % 10.8 % 10.8 % 11.0 % 11.0 %
Tier 1 12.2 11.9 11.9 12.3 12.3
Total 14.0 13.7 13.8 14.2 14.3
Leverage 9.8 9.9 10.0 10.2 10.2
Supplementary leverage 8.2 8.3 8.3 8.5 8.5
Capital ratios remain strong relative to the regulatory requirements for well-capitalized banks. Truist’s CET1 ratio was 10.9% as of June 30, 2026, up 10 basis points compared to March 31, 2026, primarily due to current quarter earnings and a reduction in risk-weighted assets, partially offset by capital returned to shareholders.
Truist declared common dividends of $0.52 per share during the second quarter of 2026 and repurchased $1.2 billion of common stock. The dividend and total payout ratios for the second quarter of 2026 were 42% and 121%, respectively.
Truist’s average consolidated LCR was 113% for the three months ended June 30, 2026, compared to the regulatory minimum of 100%.
- 5 -
Asset Quality
(Dollars in millions) 2Q26 1Q26 4Q25 3Q25 2Q25
Total nonperforming assets $ 1,748 $ 1,785 $ 1,633 $ 1,629 $ 1,316
Total loans 90 days or more past due and still accruing
698 760 684 584 546
Total loans 30-89 days past due and still accruing 1,774 1,743 1,980 1,743 1,811
Nonperforming loans and leases as a percentage of loans and leases HFI
0.51 % 0.50 % 0.48 % 0.48 % 0.39 %
Loans 90 days or more past due and still accruing as a percentage of loans and leases HFI
0.21 0.23 0.21 0.18 0.17
Loans 90 days or more past due and still accruing as a percentage of loans and leases HFI, excluding government guaranteed loans
0.04 0.05 0.05 0.05 0.04
Loans 30-89 days past due and still accruing as a percentage of loans and leases HFI
0.54 0.53 0.60 0.54 0.57
ALLL as a percentage of loans and leases HFI
1.51 1.53 1.53 1.54 1.54
Ratio of ALLL to NCO (annualized)
3.0x 2.5x 2.7x 3.3x 3.1x
Ratio of ALLL to nonperforming loans and leases HFI
2.9x 3.1x 3.2x 3.2x 3.9x
Nonperforming assets totaled $1.7 billion at June 30, 2026, down $37 million compared to March 31, 2026, primarily due to decreases in the commercial and industrial and LHFS portfolios, partially offset by an increase in the indirect auto portfolio. The increase in indirect auto was driven by an enhancement to nonaccrual criteria for certain loans in that portfolio effective January 1, 2026. Nonperforming loans and leases were 0.51% of loans and leases HFI at June 30, 2026, up one basis point compared to March 31, 2026.
Loans 90 days or more past due and still accruing totaled $698 million at June 30, 2026, down two basis points as a percentage of loans and leases compared with March 31, 2026. Excluding government guaranteed loans, the ratio of loans 90 days or more past due and still accruing as a percentage of loans and leases was 0.04% at June 30, 2026, down one basis point compared to March 31, 2026.
Loans 30-89 days past due and still accruing totaled $1.8 billion at June 30, 2026, up $31 million, or one basis point as a percentage of loans and leases, compared to March 31, 2026.
The ACL was $5.3 billion at June 30, 2026, and included $5.0 billion for the ALLL and $333 million for the reserve for unfunded commitments. The ALLL ratio at June 30, 2026 was 1.51%, down two basis points compared with March 31, 2026. The ALLL covered nonperforming loans and leases HFI 2.9x at June 30, 2026, compared to 3.1x at March 31, 2026. At June 30, 2026, the ALLL was 3.0x annualized net charge-offs, compared to 2.5x at March 31, 2026.
Provision for Credit Losses
Quarter Ended Change
(Dollars in millions) 2Q26 1Q26 2Q25
Link Quarter
Like Quarter
Provision for credit losses $ 395 $ 479 $ 488 $ (84) (17.5) % $ (93) (19.1) %
Net charge-offs 414 491 396 (77) (15.7) 18 4.5
Net charge-offs as a percentage of average loans and leases (annualized)
0.50 % 0.61 % 0.51 % (11) bps (1) bp
The provision for credit losses was $395 million for the second quarter of 2026, compared to $479 million for the first quarter of 2026.
•The provision for credit losses decreased compared to the first quarter of 2026 due to a decline in net charge-offs.
•The NCO ratio for the current quarter was down compared to the first quarter of 2026 driven by declines in net charge-offs across most portfolios.
The provision for credit losses was $395 million for the second quarter of 2026, compared to $488 million for the second quarter of 2025.
•The provision for credit losses decreased compared to the second quarter of 2025 due to an allowance release in the second quarter of 2026.
- 6 -
Earnings Presentation and Quarterly Performance Summary
Investors can access the live second quarter 2026 earnings call at 8 a.m. ET today by webcast or dial-in as follows:
Webcast: app.webinar.net/oM9yPobVKXd
Dial-in: 1-877-883-0383, passcode 0575894
Additional details: The news release and presentation materials are available at ir.truist.com under “Events & Presentations.” A replay of the call will be available on the website for 30 days.
The presentation, including an appendix reconciling non-GAAP disclosures, and Truist’s Second Quarter 2026 Quarterly Performance Summary, which contains detailed financial schedules, are available at https://ir.truist.com/earnings.
About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Headquartered in Charlotte, North Carolina, Truist has leading market share in many of the high-growth markets in the U.S. and offers a wide range of products and services through wholesale and consumer businesses, including consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending businesses. Truist is a top-10 commercial bank with total assets of $556 billion as of June 30, 2026. Truist Bank, Member FDIC. Equal Housing Lender. Learn more at Truist.com.
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Glossary of Defined Terms
Term Definition
ACL
Allowance for credit losses
AFS
Available-for-sale
AI Artificial intelligence, including machine learning
ALLL
Allowance for loan and lease losses
ATM
Automated teller machine
BVPS Book value (common equity) per share
CEO Chief Executive Officer
CET1
Common equity tier 1
CRE Commercial real estate
FDIC Federal Deposit Insurance Corporation
FHLB Federal Home Loan Bank
GAAP Accounting principles generally accepted in the United States of America
GSE
U.S. government-sponsored enterprise
HFI Held for investment
HTM
Held-to-maturity
LCR Liquidity Coverage Ratio
LHFS Loans held for sale
Like Quarter
Second quarter of 2025
Link Quarter
First quarter of 2026
MBS
Mortgage-backed securities
MSR
Mortgage servicing rights
NCO
Net charge-offs
NIM - TE Net interest margin, computed on a TE basis
NM Not meaningful
NQDCP
Non-Qualified Defined Contribution Plan
PPNR Pre-provision net revenue
ROA
Return on average assets
ROCE Return on average common equity
ROTCE
Return on average tangible common equity
TBVPS
Tangible book value per common share
TE
Taxable equivalent
- 7 -
Non-GAAP Financial Information
This news release contains financial information and performance measures determined by methods other than in accordance with GAAP. Truist’s management uses these “non-GAAP” measures in their analysis of Truist’s performance and the efficiency of its operations. Management believes these non-GAAP measures provide a greater understanding of ongoing operations, enhance comparability of results with prior periods, and demonstrate the effects of significant items in the current period. Truist believes a meaningful analysis of its financial performance requires an understanding of the factors underlying that performance. These disclosures should not be viewed as a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Below is a listing of the types of non-GAAP measures used in this news release:
•Taxable-Equivalent Measures - Taxable equivalent revenue, taxable equivalent interest income, taxable equivalent net interest income, and taxable equivalent net interest margin include a taxable equivalent adjustment utilizing the federal income tax rate of 21% for certain tax-exempt instruments. Truist’s management uses these measures in their analysis of Truist’s performance. Truist’s management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods.
•PPNR - 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 believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods.
•Tangible Common Equity and Related Measures - Tangible common equity, average tangible common equity, and related measures, including ROTCE and TBVPS, are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes, and their related amortization. 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 profitability, returns relative to balance sheet risk, and shareholder value.
Truist does not provide reconciliations for forward-looking non-GAAP financial measures because it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of Truist’s control, or cannot be reasonably predicted. For the same reasons, Truist is unable to address the probable significance of the unavailable information.
Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are included in this release or Truist’s Second Quarter 2026 Quarterly Performance Summary, which is available at https://ir.truist.com/earnings.
- 8 -
Forward Looking Statements
From time to time we have made, and in the future will make, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “pursue,” “seek,” “continue,” “estimate,” “project,” “outlook,” “forecast,” “potential,” “target,” “objective,” “trend,” “plan,” “goal,” “initiative,” “priorities,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, or results.
This news release, including any information incorporated by reference herein, contains forward-looking statements. We also may make forward-looking statements in other documents that are filed or furnished with the SEC. In addition, we may make forward-looking statements orally or in writing to investors, analysts, members of the media, and others. All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, and results may differ materially from those set forth in any forward-looking statement. While no list of assumptions, risks, and uncertainties could be complete, some of the factors that may cause actual results or other future events or circumstances to differ from those in forward-looking statements include:
•changes in monetary, fiscal, and trade laws or policies, including tariffs or interest rates;
•evolving political, geopolitical, business, social, economic, and market conditions at the local, regional, national, and international levels;
•our ability to effectively address economic, business, or market deterioration, slowdowns or disruptions;
•disruptions and shifts in investor sentiment or behavior in the securities, capital, or other financial markets, including financial or systemic shocks and volatility or changes in market liquidity, interest or currency rates, or valuations;
•changes in business and consumer sentiment, preferences, or behavior, including spending, borrowing, or saving by businesses or households;
•negative market perceptions of our investment portfolio or its value;
•our ability to manage credit risk, including in connection with the loans that we originate or purchase;
•the credit, liquidity, or other financial condition of our clients, counterparties, service providers, or competitors;
•our ability to cost-effectively fund our businesses and operations, including by accessing long- and short-term funding and liquidity and by retaining and growing client deposits;
•our ability to manage any unexpected outflows of uninsured deposits and, in such a circumstance, to access substitute funding, and avoid selling investment securities or other assets at an unfavorable time or at a loss;
•changes in our credit ratings and the related effects on our funding costs, ability to attract or retain funding, and relationships with clients and counterparties;
•any instability or breakdown in the financial system, including as a result of the actual or perceived soundness of another financial institution or another participant in the financial system;
•our ability to maintain secure and functional financial, accounting, technology, data processing, or other operating systems or infrastructure, including those that safeguard personal and other sensitive information;
•our ability to keep pace with changes in technology, including technology-driven products and services relating to AI, that affect us or our clients, counterparties, service providers, or competitors or to maintain rights or interests in associated intellectual property;
•our ability to manage system failures or disruptions affecting operations, communications, or other systems or processes;
•our ability to identify, assess, monitor, and mitigate physical-security and cybersecurity risks, including denial-of-service attacks, hacking, phishing, social-engineering attacks, malware intrusion, data-corruption attempts, system breaches, identity theft, ransomware attacks, AI-driven cyberattacks, environmental conditions, and intentional acts of destruction;
•the performance, availability, and resilience of third-party service providers on whom we rely in delivering products and services to our clients and otherwise in conducting our business and operations;
•the adequacy and effectiveness of our corporate governance, risk-management framework, compliance programs, and internal controls over financial reporting, including our ability to identify, assess, monitor, and mitigate risks, remediate lapses or deficiencies in financial reporting, and make appropriate estimates;
•our ability to develop, maintain, and market our products or services and to manage risks and unanticipated costs or liabilities associated with those products or services;
•our ability to satisfactorily and profitably perform loan servicing and similar obligations;
•the legal, regulatory, and supervisory environment, including changes in financial services legislation, regulation, policies, or government leadership or personnel;
•U.S. and international regulatory capital and liquidity requirements and standards and their effects on our capital and liquidity levels, ratios, buffers, and targets, and our ability to pay or increase dividends, repurchase shares, or take other capital actions;
•our ability to address scrutiny and expectations from supervisory or other governmental authorities and to timely and credibly remediate related concerns or deficiencies;
•judicial, regulatory, and administrative inquiries, examinations, investigations, proceedings, disputes, or rulings that create uncertainty for or are adverse to us or the financial services industry;
•the outcomes of judicial, regulatory, and administrative inquiries, examinations, investigations, proceedings, disputes, or rulings to which we are or may be subject (either directly or indirectly through our ownership interests in other entities) and our ability to absorb and address any damages or other remedies that are sought or awarded and any collateral consequences;
•our ability to execute strategic and operational plans, including with respect to accelerating growth, improving profitability, investing in talent, technology, and risk infrastructure, maintaining expense, credit, and risk discipline, and returning capital to shareholders;
•our ability to innovate, to anticipate the needs of current or future clients, or to make timely and effective technology investments and enhancements to meet client expectations;
•our ability to compete successfully, to increase or maintain market share in changing competitive environments, or to address pricing or other competitive pressures, including competition from banks and nonbanks and the effects of digital assets, cryptocurrencies, stablecoins, tokenization, and other emerging products, services, and technologies relating to deposits, lending, and payments;
•changes in our corporate and business strategies, the composition of our assets, or the way in which we fund those assets;
•our ability to successfully make and integrate acquisitions and to effect divestitures, which may include regulatory approvals and conditions;
•the efficacy of our methods or models in assessing business strategies or opportunities or in valuing, measuring, estimating, monitoring, or managing positions or risk;
•evolving accounting standards and policies and related changes to interpretations;
•damage to our brand or negative public opinion or adverse publicity affecting us, our leaders, or our service providers, including the impact on our relationships with clients, teammates, and other stakeholders;
•our ability to attract, hire, and retain key teammates and to engage in adequate succession planning;
•our ability to identify, assess, monitor, and mitigate the risk of fraud or misconduct by internal or external parties, including potential losses that may result;
•policies and other actions of governments to manage and mitigate climate and related environmental risks, and the effects of climate change or the transition to a lower-carbon economy on our business, operations, and reputation;
•natural or other disasters, calamities, and conflicts, including terrorist events, cyber-warfare, and pandemics that impact us or our clients, teammates, or service providers; and
•other assumptions, risks, or uncertainties described in the Company’s Annual Report on Form 10-K or subsequent reports.
Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except as required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, or Current Report on Form 8-K.
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EX-99.2
EX-99.2
Filename: ex992-qpsx2q26.htm · Sequence: 3
Document
Quarterly Performance Summary
Truist Financial Corporation
Second 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
6
Segment Financial Performance
8
Capital Information
9
Selected Mortgage Banking Information & Additional Information
10
Non-GAAP Reconciliations
11
Financial Highlights
Quarter Ended Year-to-Date
(Dollars in millions, except per share data, shares in thousands) June 30 March 31 Dec. 31 Sept. 30 June 30 June 30 June 30
2026 2026 2025 2025 2025 2026 2025
Summary Income Statement
Interest income $ 5,967 $ 5,855 $ 6,114 $ 6,286 $ 6,154 $ 11,822 $ 12,142
Plus: TE adjustment 46 45 49 51 48 91 96
Interest income - TE(1)
6,013 5,900 6,163 6,337 6,202 11,913 12,238
Interest expense 2,346 2,256 2,414 2,657 2,567 4,602 5,048
Net interest income 3,621 3,599 3,700 3,629 3,587 7,220 7,094
Net interest income - TE(1)
3,667 3,644 3,749 3,680 3,635 7,311 7,190
Provision for credit losses 395 479 512 436 488 874 946
Net interest income after provision for credit losses 3,226 3,120 3,188 3,193 3,099 6,346 6,148
Noninterest income 1,644 1,553 1,546 1,558 1,400 3,197 2,792
Noninterest expense 3,055 2,983 3,170 3,014 2,986 6,038 5,892
Income before income taxes 1,815 1,690 1,564 1,737 1,513 3,505 3,048
Provision for income taxes 262 209 210 285 273 471 547
Net income 1,553 1,481 1,354 1,452 1,240 3,034 2,501
Preferred stock dividends and other 34 104 65 104 60 138 164
Net Income available to common shareholders 1,519 1,377 1,289 1,348 1,180 2,896 2,337
Additional Income Statement Information
Revenue 5,265 5,152 5,246 5,187 4,987 10,417 9,886
Revenue - TE(1)
5,311 5,197 5,295 5,238 5,035 10,508 9,982
PPNR(1)
2,256 2,214 2,125 2,224 2,049 4,470 4,090
Key Metrics
Earnings:
Earnings per share-basic 1.24 1.10 1.02 1.05 0.91 2.34 1.80
Earnings per share-diluted 1.23 1.09 1.00 1.04 0.90 2.31 1.78
Cash dividends declared per share 0.52 0.52 0.52 0.52 0.52 1.04 1.04
BVPS 48.04 47.60 47.74 46.70 45.70
TBVPS(1)
33.40 33.19 33.48 32.57 31.63
End of period shares outstanding 1,221,626 1,245,879 1,262,470 1,279,246 1,289,435
Weighted average shares outstanding-basic 1,224,867 1,248,628 1,267,341 1,280,571 1,292,292 1,236,682 1,299,833
Weighted average shares outstanding-diluted 1,239,040 1,266,572 1,285,078 1,296,666 1,305,005 1,252,766 1,314,779
ROA 1.13 % 1.10 % 0.99 % 1.06 % 0.93 % 1.12 % 0.94 %
ROCE 10.4 9.3 8.5 9.0 8.1 9.9 8.1
ROTCE(1)
15.4 13.8 12.7 13.6 12.3 14.6 12.3
NIM - TE(1)
2.98 3.02 3.07 3.01 3.02 3.00 3.02
Efficiency ratio 58.0 57.9 60.4 58.1 59.9 58.0 59.6
Credit Quality
Nonperforming loans and leases as a percentage of loans and leases HFI 0.51 % 0.50 % 0.48 % 0.48 % 0.39 %
NCO as a percentage of average loans and leases HFI 0.50 0.61 0.57 0.48 0.51 0.56 % 0.55 %
ALLL as a percentage of loans and leases HFI 1.51 1.53 1.53 1.54 1.54
Ratio of ALLL to nonperforming loans and leases HFI 2.9x 3.1x 3.2x 3.2x 3.9x
Average Balances
Assets $ 550,465 $ 544,121 $ 542,233 $ 541,825 $ 537,069 $ 547,311 $ 534,365
Securities(2)
118,138 116,118 117,707 119,180 121,829 117,134 122,939
Loans and leases 331,749 328,972 326,737 322,070 313,841 330,368 310,702
Deposits 404,869 398,924 396,010 396,600 400,483 401,913 396,366
Common shareholders’ equity 58,616 59,879 59,991 59,141 58,327 59,244 58,227
Total shareholders’ equity 63,788 64,794 65,338 65,049 64,235 64,289 64,135
Period-End Balances
Assets $ 556,023 $ 548,975 $ 547,538 $ 543,851 $ 543,833
Securities(2)
114,002 111,866 112,228 113,544 115,363
Loans and leases 332,273 331,412 330,478 325,663 319,999
Deposits 409,379 404,081 400,398 394,907 406,122
Common shareholders’ equity 58,684 59,298 60,273 59,739 58,933
Total shareholders’ equity 64,095 64,214 65,189 65,646 64,840
Capital and Liquidity Ratios (preliminary)
Common equity tier 1 10.9 % 10.8 % 10.8 % 11.0 % 11.0 %
Tier 1 12.2 11.9 11.9 12.3 12.3
Total 14.0 13.7 13.8 14.2 14.3
Leverage 9.8 9.9 10.0 10.2 10.2
Supplementary leverage 8.2 8.3 8.3 8.5 8.5
Liquidity coverage ratio 113 110 111 110 110
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 Year-to-Date
June 30 March 31 Dec. 31 Sept. 30 June 30 June 30 June 30
(Dollars in millions, except per share data, shares in thousands) 2026 2026 2025 2025 2025 2026 2025
Interest Income
Interest and fees on loans and leases $ 4,659 $ 4,599 $ 4,778 $ 4,816 $ 4,657 $ 9,258 $ 9,150
Interest on securities 871 849 896 941 961 1,720 1,936
Interest on other earning assets 437 407 440 529 536 844 1,056
Total interest income 5,967 5,855 6,114 6,286 6,154 11,822 12,142
Interest Expense
Interest on deposits 1,575 1,525 1,633 1,835 1,844 3,100 3,580
Interest on long-term debt 485 445 481 523 431 930 840
Interest on other borrowings 286 286 300 299 292 572 628
Total interest expense 2,346 2,256 2,414 2,657 2,567 4,602 5,048
Net Interest Income 3,621 3,599 3,700 3,629 3,587 7,220 7,094
Provision for credit losses 395 479 512 436 488 874 946
Net Interest Income After Provision for Credit Losses 3,226 3,120 3,188 3,193 3,099 6,346 6,148
Noninterest Income
Wealth management income 375 370 365 374 348 745 692
Card and treasury management fees 353 338 336 340 351 691 684
Investment banking and trading income 352 372 335 323 205 724 478
Other deposit revenue 120 120 121 125 108 240 225
Mortgage banking income 116 133 119 118 107 249 215
Lending related fees 120 118 98 103 99 238 194
Securities gains (losses) — — — — (18) — (19)
Other income 208 102 172 175 200 310 323
Total noninterest income 1,644 1,553 1,546 1,558 1,400 3,197 2,792
Noninterest Expense
Personnel expense 1,792 1,727 1,818 1,748 1,678 3,519 3,282
Professional fees and outside processing 335 313 337 346 373 648 737
Software expense 239 230 242 233 231 469 461
Net occupancy expense 171 179 176 185 181 350 349
Equipment expense 79 85 90 90 89 164 171
Marketing and customer development 91 79 63 79 82 170 157
Amortization of intangibles 63 64 70 72 73 127 148
Regulatory costs 61 68 7 32 55 129 124
Other expense 224 238 367 229 224 462 463
Total noninterest expense 3,055 2,983 3,170 3,014 2,986 6,038 5,892
Earnings
Income before income taxes 1,815 1,690 1,564 1,737 1,513 3,505 3,048
Provision for income taxes 262 209 210 285 273 471 547
Net income 1,553 1,481 1,354 1,452 1,240 3,034 2,501
Preferred stock dividends and other 34 104 65 104 60 138 164
Net income available to common shareholders $ 1,519 $ 1,377 $ 1,289 $ 1,348 $ 1,180 $ 2,896 $ 2,337
Earnings Per Common Share
Earnings per share-basic 1.24 1.10 1.02 1.05 0.91 2.34 1.80
Earnings per share-diluted 1.23 1.09 1.00 1.04 0.90 2.31 1.78
Weighted Average Shares Outstanding
Basic 1,224,867 1,248,628 1,267,341 1,280,571 1,292,292 1,236,682 1,299,833
Diluted 1,239,040 1,266,572 1,285,078 1,296,666 1,305,005 1,252,766 1,314,779
- 2 -
Consolidated Ending Balance Sheets - Five Quarter Trend
June 30 March 31 Dec. 31 Sept. 30 June 30
(Dollars in millions) 2026 2026 2025 2025 2025
Assets
Cash and due from banks $ 4,707 $ 4,294 $ 4,967 $ 4,329 $ 5,157
Interest-bearing deposits with banks 34,581 31,903 31,410 32,523 36,294
Securities borrowed or purchased under agreements to resell 4,431 4,047 3,200 2,981 2,656
Trading assets at fair value 5,288 5,235 5,790 5,731 5,963
AFS securities at fair value 67,651 65,430 65,042 65,522 66,390
HTM securities at amortized cost 46,351 46,436 47,186 48,022 48,973
Loans and leases:
Commercial:
Commercial and industrial 168,826 169,247 167,808 163,607 162,273
CRE 25,479 24,447 23,720 22,414 20,270
Commercial construction 7,372 7,620 7,783 8,027 8,277
Consumer:
Residential mortgage 56,632 56,297 56,807 57,623 57,828
Home equity 9,677 9,633 9,719 9,618 9,591
Indirect auto 23,840 25,054 25,659 25,490 24,558
Other consumer 33,164 32,097 32,181 32,070 31,122
Credit card 4,806 4,843 4,918 4,889 4,877
Total loans and leases held for investment 329,796 329,238 328,595 323,738 318,796
Loans held for sale 2,477 2,174 1,883 1,925 1,203
Total loans and leases 332,273 331,412 330,478 325,663 319,999
Allowance for loan and lease losses (4,983) (5,026) (5,030) (4,988) (4,899)
Premises and equipment 3,177 3,145 3,172 3,176 3,197
Goodwill 17,125 17,125 17,125 17,125 17,125
Core deposit and other intangible assets 1,130 1,192 1,256 1,328 1,399
Loan servicing rights at fair value 4,293 4,112 3,972 3,776 3,612
Other assets 39,999 39,670 38,970 38,663 37,967
Total assets $ 556,023 $ 548,975 $ 547,538 $ 543,851 $ 543,833
Liabilities
Deposits:
Noninterest-bearing deposits $ 104,341 $ 105,460 $ 105,092 $ 106,197 $ 106,442
Interest checking 130,421 123,257 117,830 109,827 118,122
Money market and savings 133,688 135,702 139,044 135,931 133,891
Time deposits 40,929 39,662 38,432 42,952 47,667
Total deposits 409,379 404,081 400,398 394,907 406,122
Short-term borrowings 26,885 27,441 27,839 29,376 16,631
Long-term debt 42,976 41,622 41,963 41,729 44,427
Other liabilities 12,688 11,617 12,149 12,193 11,813
Total liabilities 491,928 484,761 482,349 478,205 478,993
Shareholders’ Equity:
Preferred stock 5,411 4,916 4,916 5,907 5,907
Common stock 6,108 6,229 6,312 6,396 6,447
Additional paid-in capital 31,616 32,610 33,663 34,278 34,620
Retained earnings 27,676 26,796 26,067 25,438 24,759
Accumulated other comprehensive loss (6,716) (6,337) (5,769) (6,373) (6,893)
Total shareholders’ equity 64,095 64,214 65,189 65,646 64,840
Total liabilities and shareholders’ equity $ 556,023 $ 548,975 $ 547,538 $ 543,851 $ 543,833
- 3 -
Average Balances and Rates - Quarters
Quarter Ended
June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 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 $ 13,454 $ 145 4.32 % $ 13,138 $ 145 4.48 % $ 13,275 $ 162 4.82 % $ 13,351 $ 174 5.18 % $ 14,034 $ 181 5.20 %
GSE 464 4 3.84 474 5 3.98 478 4 3.80 458 4 3.86 463 5 3.73
Agency MBS 103,367 717 2.78 102,089 696 2.73 103,591 727 2.81 104,998 760 2.89 106,947 772 2.89
States and political subdivisions 347 4 4.27 347 3 4.30 349 4 4.27 358 3 4.19 370 4 4.20
Other 506 3 2.12 70 — 1.65 14 — 4.42 15 1 4.50 15 — 4.53
Total securities 118,138 873 2.96 116,118 849 2.93 117,707 897 3.04 119,180 942 3.16 121,829 962 3.16
Loans and leases:
Commercial:
Commercial and industrial 168,817 2,211 5.25 166,636 2,179 5.30 163,990 2,267 5.49 162,207 2,312 5.66 158,491 2,262 5.72
CRE 24,938 349 5.56 24,165 339 5.64 23,205 354 5.99 21,171 336 6.25 19,687 308 6.22
Commercial construction 7,455 112 6.18 7,845 117 6.21 8,015 129 6.52 8,258 139 6.84 8,613 144 6.85
Consumer:
Residential mortgage 56,342 585 4.15 56,458 582 4.13 57,100 589 4.13 57,676 598 4.15 56,789 579 4.08
Home equity 9,656 169 7.02 9,666 167 6.99 9,679 176 7.24 9,588 182 7.51 9,586 178 7.47
Indirect auto 24,430 429 7.06 25,342 443 7.08 25,639 469 7.27 24,964 459 7.29 24,158 441 7.32
Other consumer 32,661 679 8.33 32,053 662 8.38 32,181 677 8.35 31,714 668 8.36 30,387 634 8.37
Credit card 4,863 133 10.93 4,857 129 10.79 4,956 136 10.89 4,915 146 11.74 4,890 139 11.35
Total loans and leases held for investment 329,162 4,667 5.68 327,022 4,618 5.71 324,765 4,797 5.87 320,493 4,840 6.00 312,601 4,685 6.01
Loans held for sale 2,587 35 5.54 1,950 26 5.24 1,972 28 5.64 1,577 24 6.18 1,240 19 6.15
Total loans and leases 331,749 4,702 5.68 328,972 4,644 5.71 326,737 4,825 5.87 322,070 4,864 6.00 313,841 4,704 6.01
Interest earning trading assets 5,618 75 5.32 5,807 74 5.09 6,015 82 5.38 5,991 86 5.70 5,896 88 5.98
Other earning assets(3)
36,956 363 3.89 35,457 333 3.77 34,138 359 4.13 38,765 445 4.50 39,417 448 4.51
Total earning assets 492,461 6,013 4.89 486,354 5,900 4.90 484,597 6,163 5.05 486,006 6,337 5.18 480,983 6,202 5.16
Nonearning assets 58,004 57,767 57,636 55,819 56,086
Total assets $ 550,465 $ 544,121 $ 542,233 $ 541,825 $ 537,069
Liabilities and Shareholders’ Equity
Interest-bearing deposits:
Interest checking $ 123,556 652 2.12 $ 120,110 619 2.09 $ 112,313 618 2.18 $ 109,244 677 2.46 $ 116,193 726 2.51
Money market and savings 136,423 608 1.79 136,106 609 1.81 138,114 677 1.95 136,515 755 2.19 135,607 751 2.22
Time deposits 41,270 315 3.06 39,337 297 3.06 40,031 338 3.35 45,090 403 3.54 41,997 367 3.50
Total interest-bearing deposits 301,249 1,575 2.10 295,553 1,525 2.09 290,458 1,633 2.23 290,849 1,835 2.50 293,797 1,844 2.52
Short-term borrowings 28,893 286 3.97 30,669 286 3.78 29,128 300 4.08 26,796 299 4.42 26,241 292 4.47
Long-term debt 40,640 485 4.77 37,141 445 4.80 39,138 481 4.91 41,458 523 5.04 34,213 431 5.02
Total interest-bearing liabilities 370,782 2,346 2.54 363,363 2,256 2.51 358,724 2,414 2.67 359,103 2,657 2.94 354,251 2,567 2.91
Noninterest-bearing deposits 103,620 103,371 105,552 105,751 106,686
Other liabilities 12,275 12,593 12,619 11,922 11,897
Shareholders’ equity 63,788 64,794 65,338 65,049 64,235
Total liabilities and shareholders’ equity $ 550,465 $ 544,121 $ 542,233 $ 541,825 $ 537,069
Average interest-rate spread 2.35 2.39 2.38 2.24 2.25
Net interest income / net interest margin -TE(2)
$ 3,667 2.98 % $ 3,644 3.02 % $ 3,749 3.07 % $ 3,680 3.01 % $ 3,635 3.02 %
TE adjustment(2)
46 45 49 51 48
Net interest income $ 3,621 $ 3,599 $ 3,700 $ 3,629 $ 3,587
Memo: Total deposits $ 404,869 1,575 1.56 % $ 398,924 1,525 1.55 % $ 396,010 1,633 1.64 % $ 396,600 1,835 1.84 % $ 400,483 1,844 1.85 %
(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 -
Average Balances and Rates - Year-To-Date
Year-to-Date
June 30, 2026 June 30, 2025
(Dollars in millions)
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 $ 13,297 $ 290 4.40 % $ 14,448 $ 372 5.19 %
GSE 469 9 3.91 462 9 3.74
Agency MBS 102,732 1,413 2.75 107,643 1,549 2.88
States and political subdivisions 347 7 4.29 370 8 4.20
Other 289 3 2.06 16 — 4.63
Total securities 117,134 1,722 2.95 122,939 1,938 3.16
Loans and leases:
Commercial:
Commercial and industrial 167,732 4,390 5.27 156,861 4,446 5.71
CRE 24,554 688 5.60 19,759 610 6.17
Commercial construction 7,649 229 6.20 8,673 289 6.84
Consumer:
Residential mortgage 56,400 1,167 4.14 56,226 1,141 4.06
Home equity 9,661 336 7.00 9,578 355 7.47
Indirect auto 24,884 872 7.07 23,705 853 7.26
Other consumer 32,358 1,341 8.36 29,843 1,236 8.35
Credit card 4,860 262 10.86 4,870 277 11.47
Total loans and leases held for investment 328,098 9,285 5.70 309,515 9,207 5.99
Loans held for sale 2,270 61 5.40 1,187 36 6.04
Total loans and leases 330,368 9,346 5.70 310,702 9,243 5.99
Interest earning trading assets 5,712 149 5.20 5,763 168 5.85
Other earning assets(3)
36,210 696 3.83 39,208 889 4.52
Total earning assets 489,424 11,913 4.89 478,612 12,238 5.14
Nonearning assets 57,887 55,753
Total assets $ 547,311 $ 534,365
Liabilities and Shareholders’ Equity
Interest-bearing deposits:
Interest checking $ 121,843 1,271 2.10 $ 112,720 1,366 2.44
Money market and savings 136,265 1,217 1.80 136,249 1,494 2.21
Time deposits 40,309 612 3.06 41,104 720 3.53
Total interest-bearing deposits 298,417 3,100 2.09 290,073 3,580 2.49
Short-term borrowings 29,776 572 3.87 28,275 628 4.48
Long-term debt 38,900 930 4.79 33,320 840 5.04
Total interest-bearing liabilities 367,093 4,602 2.52 351,668 5,048 2.89
Noninterest-bearing deposits 103,496 106,293
Other liabilities 12,433 12,269
Shareholders’ equity 64,289 64,135
Total liabilities and shareholders’ equity $ 547,311 $ 534,365
Average interest-rate spread 2.37 2.25
Net interest income / net interest margin - taxable equivalent $ 7,311 3.00 % $ 7,190 3.02 %
Taxable-equivalent adjustment 91 96
Net interest income $ 7,220 $ 7,094
Memo: Total deposits $ 401,913 3,100 1.56 % $ 396,366 3,580 1.82 %
(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.
- 5 -
Credit Quality
June 30 March 31 Dec. 31 Sept. 30 June 30
(Dollars in millions) 2026 2026 2025 2025 2025
Nonperforming Assets
Nonaccrual loans and leases:
Commercial:
Commercial and industrial $ 657 $ 738 $ 839 $ 800 $ 520
CRE 43 21 47 98 128
Commercial construction 22 23 41 42 1
Consumer:
Residential mortgage 231 231 213 196 191
Home equity 98 101 99 103 107
Indirect auto 569 455 267 247 240
Other consumer 72 73 71 66 64
Total nonaccrual loans and leases held for investment 1,692 1,642 1,577 1,552 1,251
Loans held for sale — 79 — 19 12
Total nonaccrual loans and leases 1,692 1,721 1,577 1,571 1,263
Foreclosed real estate 5 6 3 4 4
Other foreclosed property 51 58 53 54 49
Total nonperforming assets $ 1,748 $ 1,785 $ 1,633 $ 1,629 $ 1,316
Loans 90 Days or More Past Due and Still Accruing
Commercial:
Commercial and industrial $ 2 $ 4 $ 3 $ 3 $ 2
CRE 3 — — — —
Consumer:
Residential mortgage - government guaranteed 560 609 532 438 424
Residential mortgage - nonguaranteed 33 39 38 41 41
Home equity 8 7 7 6 6
Other consumer 25 26 28 27 24
Credit card 67 75 76 69 49
Total loans 90 days past due and still accruing $ 698 $ 760 $ 684 $ 584 $ 546
Loans 30-89 Days Past Due and Still Accruing
Commercial:
Commercial and industrial $ 142 $ 260 $ 127 $ 73 $ 122
CRE 95 42 25 6 34
Commercial construction — 10 36 5 15
Consumer:
Residential mortgage - government guaranteed 311 263 329 327 330
Residential mortgage - nonguaranteed 354 293 357 344 365
Home equity 52 57 69 54 54
Indirect auto 521 508 679 620 582
Other consumer 232 240 281 241 239
Credit card 67 70 77 73 70
Total loans 30-89 days past due and still accruing $ 1,774 $ 1,743 $ 1,980 $ 1,743 $ 1,811
As of/For the Quarter Ended
June 30 March 31 Dec. 31 Sept. 30 June 30
2026 2026 2025 2025 2025
Asset Quality Ratios
Nonperforming loans and leases as a percentage of loans and leases 0.51 % 0.50 % 0.48 % 0.48 % 0.39 %
Nonperforming loans and leases(1) as a percentage of total loans and leases(1)
0.51 0.52 0.48 0.48 0.39
Nonperforming assets(1) as a percentage of total assets
0.31 0.33 0.30 0.30 0.24
Nonperforming assets as a percentage of loans and leases plus foreclosed property 0.53 0.52 0.50 0.50 0.41
Loans 90 days or more past due and still accruing as a percentage of loans and leases 0.21 0.23 0.21 0.18 0.17
Loans 90 days or more past due and still accruing as a percentage of loans and leases, excluding government guaranteed loans 0.04 0.05 0.05 0.05 0.04
Loans 30-89 days past due and still accruing as a percentage of loans and leases 0.54 0.53 0.60 0.54 0.57
Allowance for loan and lease losses as a percentage of loans and leases 1.51 1.53 1.53 1.54 1.54
Ratio of allowance for loan and lease losses to:
Net charge-offs (annualized) 3.0X 2.5X 2.7X 3.3X 3.1X
Nonperforming loans and leases 2.9X 3.1X 3.2X 3.2X 3.9X
(1)Nonperforming assets and total loans and leases include loans held for sale.
As of/For the Year-to-Date
Period Ended June 30
2026 2025
Asset Quality Ratios
Net charge-offs as a percentage of average loans and leases 0.56 % 0.55 %
Ratio of allowance for loan and lease losses to net charge-offs 2.7X 2.9X
Applicable ratios are annualized.
- 6 -
As of/For the Quarter Ended As of/For the Year-to-Date
June 30 March 31 Dec. 31 Sept. 30 June 30 Period Ended June 30
(Dollars in millions) 2026 2026 2025 2025 2025 2026 2025
Allowance for Credit Losses
Beginning balance $ 5,335 $ 5,347 $ 5,305 $ 5,253 $ 5,166 $ 5,347 $ 5,161
Provision for credit losses 395 479 512 436 488 874 946
Charge-offs:
Commercial:
Commercial and industrial (137) (142) (141) (98) (120) (279) (222)
CRE (1) (7) (14) (25) (38) (8) (108)
Commercial construction (1) (17) — — — (18) —
Consumer:
Residential mortgage (1) (1) (3) (1) (1) (2) (2)
Home equity (3) (3) (2) (2) (4) (6) (6)
Indirect auto (135) (158) (160) (150) (127) (293) (281)
Other consumer (168) (184) (178) (155) (146) (352) (300)
Credit card (70) (71) (67) (49) (70) (141) (144)
Total charge-offs (516) (583) (565) (480) (506) (1,099) (1,063)
Recoveries:
Commercial:
Commercial and industrial 22 16 23 20 31 38 55
CRE 1 3 6 2 3 4 10
Commercial construction 1 1 1 — 1 2 1
Consumer:
Residential mortgage 1 2 1 2 — 3 2
Home equity 3 3 3 5 4 6 8
Indirect auto 29 25 24 25 28 54 53
Other consumer 35 33 28 31 31 68 61
Credit card 10 9 9 10 12 19 23
Total recoveries 102 92 95 95 110 194 213
Net charge-offs (414) (491) (470) (385) (396) (905) (850)
Other — — — 1 (5) — (4)
Ending balance $ 5,316 $ 5,335 $ 5,347 $ 5,305 $ 5,253 $ 5,316 $ 5,253
Allowance for Credit Losses:
Allowance for loan and lease losses $ 4,983 $ 5,026 $ 5,030 $ 4,988 $ 4,899
Reserve for unfunded lending commitments 333 309 317 317 354
Allowance for credit losses $ 5,316 $ 5,335 $ 5,347 $ 5,305 $ 5,253
Quarter Ended As of/For the Year-to-Date
June 30 March 31 Dec. 31 Sept. 30 June 30 Period Ended June 30
2026 2026 2025 2025 2025 2026 2025
Net Charge-offs as a Percentage of Average Loans and Leases:
Commercial:
Commercial and industrial 0.27 % 0.31 % 0.29 % 0.19 % 0.22 % 0.29 % 0.21 %
CRE — 0.06 0.14 0.44 0.71 0.03 1.00
Commercial construction (0.01) 0.84 (0.04) (0.03) (0.02) 0.42 (0.02)
Consumer:
Residential mortgage — (0.01) 0.01 — — — —
Home equity 0.02 (0.02) (0.04) (0.11) (0.04) — (0.05)
Indirect auto 1.73 2.14 2.10 1.99 1.63 1.94 1.94
Other consumer 1.63 1.91 1.84 1.55 1.54 1.77 1.62
Credit card 4.97 5.15 4.64 3.13 4.84 5.06 5.02
Total loans and leases 0.50 0.61 0.57 0.48 0.51 0.56 0.55
Ratios are annualized.
- 7 -
Segment Financial Performance - Preliminary
Quarter Ended
June 30 March 31 Dec. 31 Sept. 30 June 30
(Dollars in millions) 2026 2026 2025 2025 2025
Consumer and Small Business Banking
Net interest income (expense) $ 1,624 $ 1,605 $ 1,622 $ 1,570 $ 1,496
Net intersegment interest income (expense) 980 889 863 851 828
Segment net interest income (expense) 2,604 2,494 2,485 2,421 2,324
Allocated provision for credit losses 307 374 431 400 384
Noninterest income 530 528 521 530 519
Personnel expense 443 433 443 449 434
Amortization of intangibles 33 34 37 38 39
Other direct noninterest expense 312 293 288 281 286
Direct noninterest expense 788 760 768 768 759
Expense allocations 933 920 934 936 940
Total noninterest expense 1,721 1,680 1,702 1,704 1,699
Income (loss) before income taxes 1,106 968 873 847 760
Provision (benefit) for income taxes 271 238 212 207 186
Segment net income (loss) $ 835 $ 730 $ 661 $ 640 $ 574
Wholesale Banking
Net interest income (expense) $ 1,942 $ 1,922 $ 2,018 $ 2,030 $ 1,872
Net intersegment interest income (expense) (411) (414) (402) (452) (306)
Segment net interest income (expense) 1,531 1,508 1,616 1,578 1,566
Allocated provision for credit losses 90 105 82 36 104
Noninterest income 1,158 1,069 1,134 1,142 941
Personnel expense 626 612 668 598 574
Amortization of intangibles 30 30 33 34 34
Other direct noninterest expense 200 187 188 199 202
Direct noninterest expense 856 829 889 831 810
Expense allocations 528 520 465 485 519
Total noninterest expense 1,384 1,349 1,354 1,316 1,329
Income (loss) before income taxes 1,215 1,123 1,314 1,368 1,074
Provision (benefit) for income taxes 255 232 272 284 213
Segment net income (loss) $ 960 $ 891 $ 1,042 $ 1,084 $ 861
Other, Treasury & Corporate(1)
Net interest income (expense) $ 55 $ 72 $ 60 $ 29 $ 219
Net intersegment interest income (expense) (569) (475) (461) (399) (522)
Segment net interest income (expense) (514) (403) (401) (370) (303)
Allocated provision for credit losses (2) — (1) — —
Noninterest income (44) (44) (109) (114) (60)
Personnel expense 723 682 707 701 670
Amortization of intangibles — — — — —
Other direct noninterest expense 688 712 806 714 747
Direct Noninterest Expense 1,411 1,394 1,513 1,415 1,417
Expense Allocations (1,461) (1,440) (1,399) (1,421) (1,459)
Total noninterest expense (50) (46) 114 (6) (42)
Income (loss) before income taxes (506) (401) (623) (478) (321)
Provision (benefit) for income taxes (264) (261) (274) (206) (126)
Segment net income (loss) $ (242) $ (140) $ (349) $ (272) $ (195)
Total Truist Financial Corporation
Net interest income (expense) $ 3,621 $ 3,599 $ 3,700 $ 3,629 $ 3,587
Net intersegment interest income (expense) — — — — —
Segment net interest income (expense) 3,621 3,599 3,700 3,629 3,587
Allocated provision for credit losses 395 479 512 436 488
Noninterest income 1,644 1,553 1,546 1,558 1,400
Personnel expense 1,792 1,727 1,818 1,748 1,678
Amortization of intangibles 63 64 70 72 73
Other direct noninterest expense 1,200 1,192 1,282 1,194 1,235
Direct Noninterest Expense 3,055 2,983 3,170 3,014 2,986
Expense Allocations — — — — —
Total noninterest expense 3,055 2,983 3,170 3,014 2,986
Income before income taxes 1,815 1,690 1,564 1,737 1,513
Provision for income taxes 262 209 210 285 273
Net income $ 1,553 $ 1,481 $ 1,354 $ 1,452 $ 1,240
(1)Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure.
- 8 -
Capital Information - Five Quarter Trend
As of/For the Quarter Ended
June 30 March 31 Dec. 31 Sept. 30 June 30
(Dollars in millions, except per share data, shares in thousands) 2026 2026 2025 2025 2025
Selected Capital Information (preliminary)
Risk-based capital:
Common equity tier 1 $ 47,488 $ 47,683 $ 48,027 $ 48,031 $ 47,678
Tier 1 52,896 52,596 52,940 53,935 53,582
Total 60,707 60,470 61,255 62,377 62,119
Risk-weighted assets 434,799 440,333 443,257 438,114 434,609
Average quarterly assets for leverage ratio 537,658 530,908 529,156 529,861 525,567
Average quarterly assets for supplementary leverage ratio 645,213 636,907 635,249 635,076 626,855
Risk-based capital ratios:
Common equity tier 1 10.9 % 10.8 % 10.8 % 11.0 % 11.0 %
Tier 1 12.2 11.9 11.9 12.3 12.3
Total 14.0 13.7 13.8 14.2 14.3
Leverage capital ratio 9.8 9.9 10.0 10.2 10.2
Supplementary leverage 8.2 8.3 8.3 8.5 8.5
Common equity per common share $ 48.04 $ 47.60 $ 47.74 $ 46.70 $ 45.70
- 9 -
Selected Mortgage Banking Information & Additional Information
As of/For the Quarter Ended
June 30 March 31 Dec. 31 Sept. 30 June 30
(Dollars in millions, except per share data) 2026 2026 2025 2025 2025
Mortgage Banking Income
Residential mortgage income:
Residential mortgage production revenue $ 24 $ 27 $ 26 $ 22 $ 25
Residential mortgage servicing income:
Residential mortgage servicing income before MSR valuation 70 82 77 74 72
Net MSRs valuation 5 9 1 9 1
Total residential mortgage servicing income 75 91 78 83 73
Total residential mortgage income 99 118 104 105 98
Commercial mortgage income:
Commercial mortgage production revenue 7 12 12 10 6
Commercial mortgage servicing income:
Commercial mortgage servicing income before MSR valuation 5 3 2 4 3
Net MSRs valuation 5 — 1 (1) —
Total commercial mortgage servicing income 10 3 3 3 3
Total commercial mortgage income 17 15 15 13 9
Total mortgage banking income $ 116 $ 133 $ 119 $ 118 $ 107
Other Mortgage Banking Information
Residential mortgage loan originations $ 6,824 $ 5,137 $ 4,551 $ 4,743 $ 5,855
Residential mortgage servicing portfolio:(1)
Loans serviced for others 240,764 233,870 228,383 221,274 213,002
Bank-owned loans serviced 57,894 57,386 57,583 58,396 57,748
Total servicing portfolio 298,658 291,256 285,966 279,670 270,750
Weighted-average coupon rate on mortgage loans serviced for others 3.79 % 3.77 % 3.77 % 3.75 % 3.70 %
Weighted-average servicing fee on mortgage loans serviced for others 0.29 0.29 0.28 0.28 0.28
Additional Information
Brokered deposits(2)
$ 26,812 $ 28,488 $ 29,835 $ 28,423 $ 30,008
NQDCP income (expense):(3)
Interest income $ — $ (6) $ 4 $ 1 $ —
Other income 31 (7) (1) 17 21
Personnel expense (31) 13 (3) (18) (21)
Total NQDCP income (expense) $ — $ — $ — $ — $ —
Common stock prices:
High $ 52.11 $ 56.20 $ 50.86 $ 47.46 $ 43.25
Low 45.83 43.13 40.78 41.98 33.56
End of period 49.82 45.97 49.21 45.72 42.99
Banking offices 1,927 1,927 1,927 1,927 1,927
ATMs 2,820 2,826 2,829 2,837 2,847
Full-time equivalent teammates(4)
37,849 37,877 38,062 38,534 37,996
(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.
- 10 -
Non-GAAP Reconciliations
Pre-Provision Net Revenue
Quarter Ended Year-to-Date
June 30 March 31 Dec. 31 Sept. 30 June 30 June 30 June 30
(Dollars in millions) 2026 2026 2025 2025 2025 2026 2025
Net income $ 1,553 $ 1,481 $ 1,354 $ 1,452 $ 1,240 $ 3,034 $ 2,501
Provision for credit losses 395 479 512 436 488 874 946
Provision for income taxes 262 209 210 285 273 471 547
Taxable-equivalent adjustment 46 45 49 51 48 91 96
Pre-provision net revenue(1)
$ 2,256 $ 2,214 $ 2,125 $ 2,224 $ 2,049 $ 4,470 $ 4,090
(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 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 Year-to-Date
June 30 March 31 Dec. 31 Sept. 30 June 30 June 30 June 30
(Dollars in millions) 2026 2026 2025 2025 2025 2026 2025
Net income available to common shareholders $ 1,519 $ 1,377 $ 1,289 $ 1,348 $ 1,180 $ 2,896 $ 2,337
Amortization of intangibles 63 64 70 72 73 127 148
Applicable income taxes related to the amortization of intangibles(2)
(15) (15) (16) (18) (17) (30) (35)
Tangible net income available to common shareholders(1)
$ 1,567 $ 1,426 $ 1,343 $ 1,402 $ 1,236 $ 2,993 $ 2,450
Average common shareholders’ equity $ 58,616 $ 59,879 $ 59,991 $ 59,141 $ 58,327 $ 59,244 $ 58,227
Average intangible assets (18,321) (18,386) (18,456) (18,528) (18,590) (18,353) (18,630)
Applicable deferred taxes related to intangible assets(2)
401 404 409 415 417 402 420
Average tangible common shareholders’ equity(1)
$ 40,696 $ 41,897 $ 41,944 $ 41,028 $ 40,154 $ 41,293 $ 40,017
Return on average common shareholders’ equity 10.4 % 9.3 % 8.5 % 9.0 % 8.1 % 9.9 % 8.1 %
Return on average tangible common shareholders’ equity(1)
15.4 13.8 12.7 13.6 12.3 14.6 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
June 30 March 31 Dec. 31 Sept. 30 June 30
(Dollars in millions, except per share data, shares in thousands) 2026 2026 2025 2025 2025
Calculations of Tangible Common Equity and Related Measures:(1)
Total shareholders’ equity $ 64,095 $ 64,214 $ 65,189 $ 65,646 $ 64,840
Preferred stock (5,411) (4,916) (4,916) (5,907) (5,907)
Common shareholders’ equity 58,684 59,298 60,273 59,739 58,933
Intangible assets (18,287) (18,350) (18,416) (18,489) (18,561)
Applicable deferred taxes related to intangible assets(2)
400 403 407 413 418
Tangible common equity $ 40,797 $ 41,351 $ 42,264 $ 41,663 $ 40,790
Outstanding shares at end of period 1,221,626 1,245,879 1,262,470 1,279,246 1,289,435
Common equity per common share $ 48.04 $ 47.60 $ 47.74 $ 46.70 $ 45.70
Tangible common equity per common share 33.40 33.19 33.48 32.57 31.63
(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 -
EX-99.3
EX-99.3
Filename: ex993-earningsdeck2q26.htm · Sequence: 4
ex993-earningsdeck2q26
Second Quarter 2026 Earnings Conference Call Bill Rogers - Chairman & CEO Mike Maguire - CFO July 17, 2026
2 From time to time we have made, and in the future will make, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “pursue,” “seek,” “continue,” “estimate,” “project,” “outlook,” “forecast,” “potential,” “target,” “objective,” “trend,” “plan,” “goal,” “initiative,” “priorities,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, or results. In particular, forward-looking statements include statements we make about: (i) Truist’s ROTCE goals in future periods, including achieving a 15% ROTCE in 2027, and its confidence in meeting those goals, (ii) expected prepayments of investment securities and fixed rate loans and growth in net interest income in 2026, (iii) projections or estimates of common stock repurchases and preferred stock dividends, (iv) Truist being well positioned to grow and return capital to shareholders, (v) guidance with respect to financial performance metrics in future periods, including future levels of taxable equivalent revenue, noninterest expense, and net charge-off ratio, and (vi) Truist’s effective tax rate in future periods. This presentation, including any information incorporated by reference in this presentation, contains forward-looking statements. We also may make forward-looking statements in other documents that are filed or furnished with the SEC. In addition, we may make forward-looking statements orally or in writing to investors, analysts, members of the media, and others. All forward- looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, and results may differ materially from those set forth in any forward-looking statement. While no list of assumptions, risks, and uncertainties could be complete, some of the factors that may cause actual results or other future events or circumstances to differ from those in forward-looking statements include: • changes in monetary, fiscal, and trade laws or policies, including tariffs or interest rates; • evolving political, geopolitical, business, social, economic, and market conditions at the local, regional, national, and international levels; • our ability to effectively address economic, business, or market deterioration, slowdowns or disruptions; • disruptions and shifts in investor sentiment or behavior in the securities, capital, or other financial markets, including financial or systemic shocks and volatility or changes in market liquidity, interest or currency rates, or valuations; • changes in business and consumer sentiment, preferences, or behavior, including spending, borrowing, or saving by businesses or households; • negative market perceptions of our investment portfolio or its value; • our ability to manage credit risk, including in connection with the loans that we originate or purchase; • the credit, liquidity, or other financial condition of our clients, counterparties, service providers, or competitors; • our ability to cost-effectively fund our businesses and operations, including by accessing long- and short-term funding and liquidity and by retaining and growing client deposits; • our ability to manage any unexpected outflows of uninsured deposits and, in such a circumstance, to access substitute funding, and avoid selling investment securities or other assets at an unfavorable time or at a loss; • changes in our credit ratings and the related effects on our funding costs, ability to attract or retain funding, and relationships with clients and counterparties; • any instability or breakdown in the financial system, including as a result of the actual or perceived soundness of another financial institution or another participant in the financial system; • our ability to maintain secure and functional financial, accounting, technology, data processing, or other operating systems or infrastructure, including those that safeguard personal and other sensitive information; • our ability to keep pace with changes in technology, including technology-driven products and services relating to AI, that affect us or our clients, counterparties, service providers, or competitors or to maintain rights or interests in associated intellectual property; • our ability to manage system failures or disruptions affecting operations, communications, or other systems or processes; • our ability to identify, assess, monitor, and mitigate physical-security and cybersecurity risks, including denial-of-service attacks, hacking, phishing, social-engineering attacks, malware intrusion, data-corruption attempts, system breaches, identity theft, ransomware attacks, AI-driven cyberattacks, environmental conditions, and intentional acts of destruction; • the performance, availability, and resilience of third-party service providers on whom we rely in delivering products and services to our clients and otherwise in conducting our business and operations; • the adequacy and effectiveness of our corporate governance, risk-management framework, compliance programs, and internal controls over financial reporting, including our ability to identify, assess, monitor, and mitigate risks, remediate lapses or deficiencies in financial reporting, and make appropriate estimates; • our ability to develop, maintain, and market our products or services and to manage risks and unanticipated costs or liabilities associated with those products or services; • our ability to satisfactorily and profitably perform loan servicing and similar obligations; • the legal, regulatory, and supervisory environment, including changes in financial services legislation, regulation, policies, or government leadership or personnel; • U.S. and international regulatory capital and liquidity requirements and standards and their effects on our capital and liquidity levels, ratios, buffers, and targets, and our ability to pay or increase dividends, repurchase shares, or take other capital actions; • our ability to address scrutiny and expectations from supervisory or other governmental authorities and to timely and credibly remediate related concerns or deficiencies; • judicial, regulatory, and administrative inquiries, examinations, investigations, proceedings, disputes, or rulings that create uncertainty for or are adverse to us or the financial services industry; • the outcomes of judicial, regulatory, and administrative inquiries, examinations, investigations, proceedings, disputes, or rulings to which we are or may be subject (either directly or indirectly through our ownership interests in other entities) and our ability to absorb and address any damages or other remedies that are sought or awarded and any collateral consequences; • our ability to execute strategic and operational plans, including with respect to accelerating growth, improving profitability, investing in talent, technology, and risk infrastructure, maintaining expense, credit, and risk discipline, and returning capital to shareholders; • our ability to innovate, to anticipate the needs of current or future clients, or to make timely and effective technology investments and enhancements to meet client expectations; • our ability to compete successfully, to increase or maintain market share in changing competitive environments, or to address pricing or other competitive pressures, including competition from banks and nonbanks and the effects of digital assets, cryptocurrencies, stablecoins, tokenization, and other emerging products, services, and technologies relating to deposits, lending, and payments; • changes in our corporate and business strategies, the composition of our assets, or the way in which we fund those assets; • our ability to successfully make and integrate acquisitions and to effect divestitures, which may include regulatory approvals and conditions; • the efficacy of our methods or models in assessing business strategies or opportunities or in valuing, measuring, estimating, monitoring, or managing positions or risk; • evolving accounting standards and policies and related changes to interpretations; • damage to our brand or negative public opinion or adverse publicity affecting us, our leaders, or our service providers, including the impact on our relationships with clients, teammates, and other stakeholders; • our ability to attract, hire, and retain key teammates and to engage in adequate succession planning; • our ability to identify, assess, monitor, and mitigate the risk of fraud or misconduct by internal or external parties, including potential losses that may result; • policies and other actions of governments to manage and mitigate climate and related environmental risks, and the effects of climate change or the transition to a lower-carbon economy on our business, operations, and reputation; • natural or other disasters, calamities, and conflicts, including terrorist events, cyber-warfare, and pandemics that impact us or our clients, teammates, or service providers; and • other assumptions, risks, or uncertainties described in the Company’s Annual Report on Form 10-K or subsequent reports. Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except as required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, or Current Report on Form 8-K. Forward-looking statements
3 Non-GAAP financial information This presentation contains financial information and performance measures determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Truist’s management uses these “non-GAAP” measures in their analysis of Truist’s performance and the efficiency of its operations. Management believes these non-GAAP measures are useful to investors because they provide a greater understanding of ongoing operations, enhance comparability of results with prior periods, and demonstrate the effects of significant items in the current period. Truist believes a meaningful analysis of its financial performance requires an understanding of the factors underlying that performance. These disclosures should not be viewed as a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Below is a listing of the types of non-GAAP measures used in this presentation: Taxable-Equivalent Measures - Taxable equivalent revenue, taxable equivalent net interest income, taxable equivalent net interest margin, and operating leverage - taxable equivalent include a taxable equivalent adjustment utilizing the federal income tax rate of 21% for certain tax-exempt instruments. Taxable equivalent net interest margin is calculated using net interest income on a taxable equivalent basis to determine the total yield on interest-earning assets. Truist’s management uses these measures in their analysis of Truist’s performance. Truist’s management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods. Pre-provision net revenue (PPNR) - 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 believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods. Tangible common equity and related measures - Tangible common equity and related measures, including ROTCE, are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes, and their related amortization. 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 profitability, returns relative to balance sheet risk, and shareholder value. Truist does not provide reconciliations for forward-looking non-GAAP financial measures because it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of Truist’s control, or cannot be reasonably predicted. For the same reasons, Truist is unable to address the probable significance of the unavailable information. A copy of this presentation is available on the Truist Investor Relations website, ir.truist.com.
4 Purpose Inspire and build better lives and communities Mission Clients Provide distinctive, secure, and successful client experiences through touch and technology. Teammates Create an inclusive and energizing environment that empowers teammates to learn, grow, and have meaningful careers. Stakeholders Optimize long-term value for stakeholders through safe, sound, and ethical practices. Values Trustworthy We serve with integrity. Caring Everyone and every moment matters. One Team Together, we can accomplish anything. Success When our clients win, we all win. Happiness Positive energy changes lives.
5 Commentary reflects like quarter comparisons, unless otherwise noted (1) Represents a non-GAAP financial measure; see appendix for reconciliations 2Q26 key takeaways 2Q26 by the numbers $1.5 billion Net income available to common shareholders $1.23 Diluted EPS Executing on strategic priorities 320 bps Positive operating leverage-TE(1) 15.4% Return on average tangible common equity(1) $1.8 billion Capital returned to shareholders – Delivered 37% diluted EPS growth – Generated 17% noninterest income growth – Delivered 320 bps of positive operating leverage – Maintained strong asset quality metrics – Improved ROTCE by 310 bps to 15.4% – On track to achieve ROTCE targets
6 5.2 5.4 2Q25 2Q26 $213 $217 2Q25 2Q26 Consumer and Small Business Banking highlights Driving growth with Premier clients Active mobile app users(1) (in millions) Digital transaction volume (in millions) 39% YoY increase in CSBB new-to-bank deposit production $131 $133 2Q25 2Q26 87 93 2Q25 2Q26 4% 7% 2% 2% 150 bps YoY increase in online and mobile banking share of digital account production Deposit production per Premier advisor up 23% YoY Premier client new deposit production balances increased 20% YoY Average CSBB loans HFI ($ in billions) Average CSBB deposits ($ in billions) Premier advisor financial planning up 9% YoY (1) Clients who have logged into the mobile app over the prior 90 days 15% increase in 1H26 Wealth clients referred by CSBB vs. the prior period Growth moderated by portfolio optimization actions
7 (1) Average deposits include $10.9 billion of relatively high rate, short-term, M&A-related client deposits that were added to the balance sheet in late 1Q25. These deposits were withdrawn in July 2025. (2) Includes M&A, equity capital markets, and financial risk management $351 $353 2Q25 2Q26 $140 $149 $181 $196 2Q25 2Q26 2Q25 2Q26 Wholesale Banking highlights Core deposit strength 27% increase in 1H26 IB&T advisory revenue(2) vs. the prior period 35% increase in 1H26 commercial and corporate banking new client acquisition vs. the prior period 23% growth in 1H26 new investment assets from Truist client base vs. the prior period Average Wholesale deposits(1) and loans HFI ($ in billions) $348 $375 2Q25 2Q26 $205 $352 2Q25 2Q26 72% 8% (1%) 8% Wealth management income ($ in millions) Investment banking & trading income ($ in millions) LoansDeposits 1% 4 consecutive quarters of client deposit growth 75% of clients with the largest deposit increases are tied to payments Added master servicing capability in real estate to drive additional deposits and fee income Broad-based deposit growth across segment with 6% YoY growth in commercial and middle market M&A-related client deposits $11 +6% ex. M&A-related client deposits Card and treasury management fees ($ in millions)
8 $ in millions, except per share data Key metrics 2Q26 vs. 1Q26 vs. 2Q25 Revenue $5,311 2.2% 5.5% Expense $3,055 2.4% 2.3% PPNR $2,256 1.9% 10% Net income available to common shareholders $1,519 10% 29% Diluted EPS $1.23 13% 37% Net interest margin 2.98% (4) bps (4) bps ROA 1.13% 3 bps 20 bps ROCE 10.4% 110 bps 230 bps ROTCE 15.4% 160 bps 310 bps Efficiency ratio 58.0% 10 bps (190) bps NCO ratio 0.50% (11) bps (1) bp TBVPS $33.40 0.6% 5.6% CET1 ratio 10.9% 10 bps (10) bps Performance highlights – CET1 ratio increased to 10.9%; repurchased $1.2 billion of common stock in 2Q26 – Noninterest expense increased 2.4% vs. 1Q26 primarily due to higher personnel expense and professional fees and outside processing – Noninterest expense increased 2.3% vs. 2Q25 primarily due to higher personnel expense partially offset by lower professional fees and outside processing – Revenue increased 2.2% vs. 1Q26 primarily due to higher other income – Revenue increased 5.5% vs. 2Q25 primarily due to higher investment banking and trading and wealth management income Capital Noninterest expense – Reported 2Q26 net income available to common shareholders of $1.5 billion, or $1.23 per share – Diluted EPS increased 13% vs. 1Q26 and 37% vs. 2Q25 Earnings Revenue – Asset quality metrics remained strong Asset quality Note: All data points are taxable equivalent, where applicable; PPNR, ROTCE, and TBVPS are also non-GAAP financial measures; see appendix for reconciliations Current quarter regulatory capital information is preliminary
9 May not foot due to rounding Portfolio assignment based off loan purpose 5-quarter trend ($ in billions) Loan portfolio composition $329B Average loans HFI 51% Commercial and industrial 8% CRE 2% Commercial construction 17% Residential mortgage 3% Home equity 7% Indirect auto 10% Other consumer 1% Credit card Average loans and leases HFI $313 $320 $325 $327 $329 $187 $192 $195 $199 $201 $126 $129 $130 $128 $128 6.01% 6.00% 5.87% 5.71% 5.68% Commercial LHFI Consumer and card LHFI Loans HFI yield 2Q25 3Q25 4Q25 1Q26 2Q26 Strong momentum in commercial; optimizing less profitable and less strategic lending portfolios
10 38% 45% 46% 45% 24% 30% 31% 30% Interest-bearing deposit beta Total deposit beta 3Q25 4Q25 1Q26 2Q26 Average deposits $400 $397 $396 $399 $405 $294 $291 $290 $296 $301 $107 $106 $106 $103 $104 1.85% 1.84% 1.64% 1.55% 1.56% Interest-bearing deposits Noninterest-bearing deposits Total deposit cost (%) 2Q25 3Q25 4Q25 1Q26 2Q26 May not foot due to rounding (1) Average deposits include $10.9 billion of relatively high rate, short-term, M&A-related client deposits that were added to the balance sheet in late 1Q25. These deposits were withdrawn in July 2025. (2) Cumulative beta calculations are based on change in average total deposit or interest-bearing deposit cost divided by the change in average Fed Funds rate from 2Q24 Deposit mix Cumulative deposit beta trend(2) (Down rate) 5-quarter trend ($ in billions) 34% Money market & savings 10% Time 26% DDA 31% Interest checking $405B Average deposits Average deposits increased 1.1% vs. 2Q25(1)
11 Active receive-fixed $3,635 $3,680 $3,749 $3,644 $3,667 3.02% 3.01% 3.07% 3.02% 2.98% Net interest income-TE Net interest margin 2Q25 3Q25 4Q25 1Q26 2Q26 Fwd. starting receive-fixed Pay-fixed < 3yrs. Net interest income and net interest margin Fixed rate asset repricing and NII outlook ($ in billions) Swap portfolio overview ($ in billions) May not foot due to rounding (1) Net interest income and net interest margin include a taxable-equivalent adjustment, which is a non-GAAP measure. See attached appendix for more information on taxable-equivalent measures and reconciliations to GAAP net interest income. (2) Run-on rate for new fixed rate loans is ~7.37% (3) Investment securities yield excluding the impact of swaps (4) Runoff reflects contractual maturities and expected prepayments of investment securities and fixed rate loans that will be reinvested at higher run-on interest rates based on the current forward curve 6/30/26 Pay-fixed > 3yrs. 5-quarter net interest income and net interest margin trend ($ in millions) (1) $74 $38 Total wtd. avg. rate = 3.37% ($14)Total wtd. avg. rate = 3.61% ($9) $137 Fixed rate loans Securities Average yield $7 $20 2.91%(3) 3.41%(4) 6.44%(2) Rest of year runoff(4) ~ 2Q26 avg. balances $131 5.71% $118 – Net interest income expected to increase 1% to 1.5% in 2026 vs. 2025 – Updated outlook reflects: – continued optimization of less strategic and lower relationship return lending portfolios – lower loan spreads – less favorable deposit mix – updated forward curve (25 bp hike in Sept.) – At 6/30, notional receive-fixed and pay-fixed swaps totaled $112 billion and $24 billion, respectively, compared with $118 billion and $22 billion at 3/31 – Strategy to maintain a relatively neutral position to changes in interest rates is unchanged (1) Run-off expected to exceed run-on volume Securities
12 Noninterest income Noninterest income details ($ in millions) (1) All other noninterest income includes lending-related fees, securities gains (losses), and other income ($5,212) – Noninterest income increased 5.9%, primarily driven by: – increased other income due to higher equity investment income – partially offset by a decline in investment banking and trading income Categories 2Q26 vs. 1Q26 vs. 2Q25 Wealth management income $375 1.4% 7.8% Card and treasury management fees $353 4.4% 0.6% Investment banking and trading income $352 (5.4)% 72% Other deposit revenue $120 —% 11% Mortgage banking income $116 (13)% 8.4% All other noninterest income(1) $328 49% 17% Total noninterest income $1,644 5.9% 17% Vs. linked quarter Vs. like quarter – Noninterest income increased 17%, primarily driven by: – increased investment banking and trading income – increased wealth management income due to higher AUM Investment banking and trading and wealth management key drivers of growth
13 – Noninterest expense increased 2.3%, primarily driven by: – higher personnel expense due to increased salaries and incentives – partially offset by lower professional fees and outside processing Noninterest expense Noninterest expense details ($ in millions) (1) All other noninterest expense includes marketing and customer development, amortization of intangibles, regulatory costs, and other expense Vs. linked quarter Vs. like quarter ($5,212) – Noninterest expense increased 2.4%, primarily driven by: – higher personnel expense due to increased salaries and variable incentives – higher professional fees and outside processing Categories 2Q26 vs. 1Q26 vs. 2Q25 Personnel expense $1,792 3.8% 6.8% Professional fees and outside processing $335 7.0% (10)% Software expense $239 3.9% 3.5% Net occupancy expense $171 (4.5)% (5.5)% Equipment expense $79 (7.1)% (11.2)% All other noninterest expense(1) $439 (2.2)% 1.2% Total noninterest expense $3,055 2.4% 2.3% Noninterest expense growth remains well controlled
14 0.39% 0.48% 0.48% 0.50% 0.51% 2Q25 3Q25 4Q25 1Q26 2Q26 $488 $436 $512 $479 $395 2Q25 3Q25 4Q25 1Q26 2Q26 $396 $385 $470 $491 $414 0.51% 0.48% 0.57% 0.61% 0.50% NCO NCO ratio 2Q25 3Q25 4Q25 1Q26 2Q26 Asset quality NCO and NCO ratio ($ in millions) Nonperforming loans / LHFI ALLL Provision for credit losses ($ in millions) $4,899 $4,988 $5,030 $5,026 $4,983 ALLL ALLL ratio ALLL / NCO 2Q25 3Q25 4Q25 1Q26 2Q26 3.1x 1.54% 3.3x 1.54% 2.7x ($ in millions) 1.53% 2.5x 1.53% Asset quality metrics remain strong 3.0x 1.51%
15 11.0% 11.0% 10.8% 10.8% 10.9% 2Q25 3Q25 4Q25 1Q26 2Q26 Capital Capital actions and commentary $0.6 $0.6 CET1 ratio Current quarter regulatory capital information is preliminary 7.0% min. req. effective 10/1/25 – CET1 ratio increased 10 bps to 10.9% vs. 1Q26 – Balance sheet optimization efforts improving RWA density – Returned $1.8 billion of capital or 121% of earnings to shareholders in 2Q26 through our common dividend and $1.2 billion of share repurchases – Continue to target share repurchases of $5 billion in 2026 Well positioned to grow and return capital to shareholders
16 13.9% 3Q26 and 2026 outlook 2Q26 actuals 3Q26 outlook Revenue-TE(1): $5.3 billion Up ~1% Noninterest expense: $3.1 billion Up ~2% Full year 2025 actuals Full year 2026 outlook Revenue-TE(1): $20.5 billion Up 3.5% to 4% Noninterest expense: $12.1 billion Up ~1.75% Net charge-off ratio: 54 bps ~55 bps Tax rate: 16.4% effective; 18.9% FTE ~14.5% effective; ~16.5% FTE Share repurchases: $2.5 billion ~$5 billion (1) Revenue-TE is a non-GAAP financial measure; see appendix for reconciliation
17 On track to achieve ROTCE targets ROTCE outlook Key drivers of profitability improvement Execute top business growth and profitability initiatives Drive positive operating leverage Stable economic and operating environment Continue to optimize balance sheet and return significant capital to shareholders 2025 2026 2027 Long-term ~14% ~15% ROTCE is a non-GAAP metric that excludes the impact of intangible assets, net of deferred taxes, and their related amortization. See appendix for non-GAAP reconciliations. Benefit from fixed rate asset repricing 16% to 18% 14%+ 12.7%
Appendix
A-1 – Net income of $835 million, compared to $730 million in the prior quarter – Net interest income of $2.6 billion increased by $110 million, or 4.4%, primarily driven by higher deposit spreads and volume – Average loans remained relatively flat at $133 billion – Average deposits of $217 billion increased 1.7%, primarily driven by money market and checking growth – Provision for credit losses decreased $67 million, or 17.9%, driven by a decrease in net charge-offs and reserve build in the prior quarter – Noninterest income of $530 million increased $2 million, or 0.4%, primarily driven by card and treasury management fees, partially offset by mortgage banking income – Noninterest expense of $1.7 billion increased $41 million, or 2.4%, primarily driven by higher enterprise tech and finance management expenses, personnel, operating losses, marketing, and loan-related expense – Debit and credit card sales volume increased 7.9% from 1Q26 due to seasonality – Digital transactions surpassed 93 million, resulting in YoY growth of 7% and accounting for 71% of total transaction volume – Truist Assist handled nearly 2 million requests, up 60% YoY, driven by growth in unique users, increased money movement, and transaction search activity – Truist Insights generated 167 million personalized insights, driving more than 31 million client interactions Consumer and Small Business Banking (1) Excludes loans held for sale (2) Digital sales defined as products opened through digital applications (3) Digital transactions include transfers, Zelle, bill payments, mobile deposits, ACH, and wire transfers Commentary reflects linked quarter comparisons Metrics Commentary Income statement ($ MM) 2Q26 vs. 1Q26 vs. 2Q25 Net interest income $2,604 $110 $280 Allocated provision for credit losses 307 (67) (77) Noninterest income 530 2 11 Noninterest expense 1,721 41 22 Segment net income $835 $105 $261 Balance sheet ($ B) Average loans(1) $133 $0.1 $1.8 Average deposits 217 3.6 3.3 Other key metrics Digital sales as a % of total(2) 29% (736) bps (479) bps Digital transactions as a % of total(3) 71% (12) bps 259 bps Debit/credit card spend ($ B) $32 $2.3 $1.4 Truist Assist chat volume (MM) 2.0 0.1 0.7 Truist Insights volume (MM) 167 32 10 Represents Branch Banking, Digital Banking, Premier Banking, Small Business Banking, and National Consumer Lending
A-2 Wholesale Banking (1) Excludes loans held for sale Commentary reflects linked quarter comparisons unless otherwise noted – Net income of $1.0 billion, compared to $0.9 billion in the prior quarter – Net interest income of $1.5 billion increased $23 million, or 1.5% – Average loans of $196 billion increased $2.1 billion, or 1.1%, primarily related to growth in C&I and CRE balances – Average deposits of $149 billion increased $0.9 billion, or 0.6%, driven by growth in client deposits, partially offset by seasonal outflows – Provision for credit losses of $90 million decreased $15 million, or 14%, which reflects a decrease in net charge-offs as well as a net reserve release – Noninterest income of $1.2 billion increased $89 million, or 8.3%, primarily driven by higher project-based equity investments and wealth management income, partially offset by lower investment banking and trading income – Noninterest expense of $1.4 billion increased $35 million, or 2.6%, driven by higher revenue-related expenses, regulatory expense, and technology support expenses – Total client assets increased $17 billion, or 5.2%, primarily due to market-driven increase in equities, as well as positive net asset flows Metrics Commentary Income statement ($ MM) 2Q26 vs. 1Q26 vs. 2Q25 Net interest income $1,531 $23 $(35) Allocated provision for credit losses 90 (15) (14) Noninterest income 1,158 89 217 Noninterest expense 1,384 35 55 Segment net income $960 $69 $99 Balance sheet ($ B) Average loans(1) $196 $2.1 $15 Average deposits 149 0.9 (2.1) Other key metrics ($ B) Total client assets $350 $17 $(5.0) Represents Commercial & Corporate Banking, Investment Banking & Capital Markets, CRE, Wholesale Payments, and Wealth
A-3 Preferred dividend 3Q26 4Q26 1Q27 2Q27 Estimated dividends based on projected interest rates, redemptions, and issuances ($ in millions) $114 $42 $112 $42 Estimates assume forward-looking interest rates as of 6/30/26. Actual interest rates, redemptions, or issuances could vary significantly causing dividend payments to differ from the estimates shown above.
A-4 Non-GAAP reconciliations Net interest income, revenue, operating leverage, pre-provision net revenue $ in millions (1) Taxable equivalent revenue, taxable equivalent net interest income, taxable equivalent net interest margin, and operating leverage - taxable equivalent include a taxable equivalent adjustment utilizing the federal income tax rate of 21% for certain tax-exempt instruments. Taxable equivalent net interest margin is calculated using net interest income on a taxable equivalent basis to determine the total yield on interest-earning assets. Truist’s management uses these measures in their analysis of Truist’s performance. Truist’s management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods. (2) 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 believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods. Quarter Ended June 30 March 31 Dec. 31 Sept. 30 June 30 2026 2026 2025 2025 2025 Net income $ 1,553 $ 1,481 $ 1,354 $ 1,452 $ 1,240 Provision for credit losses 395 479 512 436 488 Provision for income taxes 262 209 210 285 273 Taxable-equivalent adjustment 46 45 49 51 48 Pre-provision net revenue(2) $ 2,256 $ 2,214 $ 2,125 $ 2,224 $ 2,049 Quarter Ended June 30 March 31 Dec. 31 Sept. 30 June 30 2026 2026 2025 2025 2025 Revenue $ 5,265 $ 5,152 $ 5,246 $ 5,187 $ 4,987 Taxable-equivalent adjustment 46 45 49 51 48 Revenue-TE(1) $ 5,311 $ 5,197 $ 5,295 $ 5,238 $ 5,035 Total noninterest expense $ 3,055 $ 2,986 Operating leverage (like quarter) 3.3 % Operating leverage-TE(1) (like quarter) 3.2 % Quarter Ended June 30 March 31 Dec. 31 Sept. 30 June 30 2026 2026 2025 2025 2025 Net interest income $ 3,621 $ 3,599 $ 3,700 $ 3,629 $ 3,587 Taxable-equivalent adjustment 46 45 49 51 48 Net interest income-TE(1) $ 3,667 $ 3,644 $ 3,749 $ 3,680 $ 3,635
A-5 Non-GAAP reconciliations Return on average tangible common equity and tangible book value per share $ in millions, except per share data, shares data in thousands (1) Calculated using the applicable marginal tax rate. (2) Tangible common equity and related measures, including ROTCE, are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes, and their related amortization. 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 profitability, returns relative to balance sheet risk, and shareholder value. As of / Quarter Ended June 30 March 31 Dec. 31 Sept. 30 June 30 2026 2026 2025 2025 2025 Total shareholders' equity $ 64,095 $ 64,214 $ 65,189 $ 65,646 $ 64,840 Preferred stock (5,411) (4,916) (4,916) (5,907) (5,907) Common shareholders’ equity $ 58,684 $ 59,298 $ 60,273 $ 59,739 $ 58,933 Intangible assets, net of deferred taxes (18,287) (18,350) (18,416) (18,489) (18,561) Applicable deferred taxes related to intangible assets(1) $ 400 $ 403 $ 407 $ 413 $ 418 Tangible common shareholders’ equity(2) $ 40,797 $ 41,351 $ 42,264 $ 41,663 $ 40,790 Outstanding shares at end of period 1,221,626 1,245,879 1,262,470 1,279,246 1,289,435 Common shareholders’ equity per common share $ 48.04 $ 47.60 $ 47.74 $ 46.70 $ 45.70 Tangible common shareholders’ equity per common share(2) 33.40 33.19 33.48 32.57 31.63 Net income available to common shareholders $ 1,519 $ 1,377 $ 1,289 $ 1,348 $ 1,180 Amortization of intangibles 63 64 70 72 73 Applicable income taxes related to amortization of intangibles(1) (15) (15) (16) (18) (17) Tangible net income available to common shareholders(2) $ 1,567 $ 1,426 $ 1,343 $ 1,402 $ 1,236 Average common shareholders’ equity $ 58,616 $ 59,879 $ 59,991 $ 59,141 $ 58,327 Average intangible assets (18,321) (18,386) (18,456) (18,528) (18,590) Applicable deferred taxes related to intangible assets(1) 401 404 409 415 417 Average tangible common shareholders’ equity(2) $ 40,696 $ 41,897 $ 41,944 $ 41,028 $ 40,154 Return on average common shareholders’ equity 10.4 % 9.3 % 8.5 % 9.0 % 8.1 % Return on average tangible common shareholders’ equity(2) 15.4 13.8 12.7 13.6 12.3
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v3.26.1
Cover Cover
Jul. 17, 2026
Entity Information [Line Items]
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Entity Address, Address Line Two
214 North Tryon Street
Entity Address, City or Town
Charlotte,
Entity Address, State or Province
NC
Entity Address, Postal Zip Code
28202
Entity Address, Address Line One
NC
Document Type
8-K
Document Period End Date
Jul. 17, 2026
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Truist Financial Corporation
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1-10853
Entity Tax Identification Number
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844
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Depositary Shares each representing 1/4,000th interest in a share of Series I Perpetual Preferred Stock
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NYSE
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