トゥリストファイナンシャルの適時開示・決算・その他

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

April 17, 2025

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)	(I.R.S. 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)

_____________________________________________

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:

☐ 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 April 17, 2025, Truist Financial Corporation (“Truist”) issued a press release announcing its reporting of first quarter 2025 results and posted on its website its first quarter 2025 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 Earnings Release, Quarterly Performance Summary, and Earnings Release Presentation are furnished as Exhibits 99.1, 99.2, and 99.3, respectively. Consequently, they are not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section. Such materials may only be incorporated by reference into another filing under the Exchange Act or Securities Act of 1933 if such subsequent filing specifically references this Form 8-K. 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 of Exhibit
99.1						Earnings Release issued April 17, 2025.
99.2						Quarterly Performance Summary issued April 17, 2025.
99.3						Earnings Release Presentation issued April 17, 2025.






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: April 17, 2025

EX-99.1 2 ex991-pr1q25.htm EX-99.1 Document


			News Release

Truist reports first quarter 2025 results

Net income available to common shareholders of $1.2 billion, or $0.87 per share	Average loans increased $3.3 billion, or 1.1%		Repurchased $500 million in common shares; Dividend and total payout ratios of 59% and 102%
1Q25 Key Financial Data		1Q25 Performance Highlights(4)




(Dollars in billions, except per share data)	1Q25			4Q24			1Q24
Summary Income Statement
Net interest income - TE	$	3.56		$	3.64		$	3.43
Noninterest income	1.39			1.47			1.45
Total revenue - TE	4.95			5.11			4.87


Noninterest expense	2.91			3.04			2.95
Net income from continuing operations	1.26			1.29			1.13
Net income (loss) from discontinued operations	–			(0.01)			0.07
Net income	1.26			1.28			1.20
Net income available to common shareholders	1.16			1.22			1.09
Adjusted net income available to common shareholders(1)	1.16			1.21			1.22
PPNR - unadjusted(1)(2)	2.04			2.08			1.92
PPNR - adjusted(1)(2)	2.08			2.08			2.04
Key Metrics


Diluted EPS	$	0.87		$	0.91		$	0.81
Adjusted diluted EPS(1)	0.87			0.91			0.90
BVPS	44.85			43.90			38.97
TBVPS(1)	30.95			30.01			21.64



ROCE	8.1		%	8.4		%	8.4		%
ROTCE(1)	12.3			12.9			16.3
Efficiency ratio - unadjusted(1)(2)	59.3			60.0			61.3
Efficiency ratio - adjusted(1)(2)	56.4			57.7			56.2
Fee income ratio - unadjusted(1)(2)	28.4			29.0			30.0
Fee income ratio - adjusted(1)(2)	28.2			28.8			29.7
NIM - TE(2)	3.01			3.07			2.88
NCO ratio	0.60			0.59			0.64
ALLL ratio	1.58			1.59			1.56
CET1 ratio(3)	11.3			11.5			10.1

Average Balances
Assets	$	532		$	527		$	531
Securities	124			125			132
Loans and leases	308			305			309
Deposits	392			390			389

Amounts may not foot due to rounding.

(1)Represents a non-GAAP measure. A reconciliation of each of these non-GAAP measures to the most directly comparable GAAP measure is included in the appendix to Truist’s First Quarter 2025 Earnings Presentation.

(2)This metric is calculated based on continuing operations.

(3)Current quarter capital ratios are preliminary.

(4)Comparisons noted in this section summarize changes from first quarter of 2025 compared to fourth quarter of 2024 on a continuing operations basis, unless otherwise noted.

•Net income available to common shareholders was $1.2 billion, or $0.87 per diluted share

•Total TE revenues were down 3.2%

◦TE net interest income decreased 2.4%; net interest margin was down six basis points

◦Noninterest income was down 5.3% due to lower other income

•Noninterest expense was down 4.3%. Adjusted noninterest expense(1) was down 5.4%, reflecting lower other expense, lower professional fees and outside processing expense, and lower equipment expense

•Average loans and leases HFI were up 1.1% due to increases in the commercial and industrial, residential mortgage, and indirect auto portfolios

◦End of period loans and leases HFI were $308.6 billion, up $2.3 billion, or 0.7%

•Average deposits increased 0.6% due to increases in time deposits and interest checking, partially offset by declines in noninterest-bearing deposits and money market and savings accounts

◦The average cost of total deposits was 1.79%, down ten basis points, due to the impact of deposit repricing

•Asset quality remained strong

◦Nonperforming loans HFI to HFI loans were up one basis point

◦Loans 90 days or more past due HFI to HFI loans were up one basis point, or flat excluding government guaranteed loans

◦ALLL ratio decreased one basis point

◦Net charge-off ratio of 60 basis points, up one basis point

•Capital levels remained strong

◦Repurchased $500 million in common shares, resulting in a dividend and total payout ratio of 59% and 102%, respectively

◦CET1 ratio(3) was 11.3%


CEO Commentary

“We delivered solid first quarter results as we remain focused on executing on our strategy amidst market volatility. We continue to utilize our robust capital position to support the growth needs of our clients, while maintaining effective risk controls. Both average loans and deposits are higher to begin the year, and our expense discipline was evident again this quarter, while asset-quality metrics remained stable and capital ratios strong.

We continue to invest in talent and technology, while our strong capital and liquidity profile leave us well positioned to succeed in a variety of economic environments and continue capitalizing on opportunities for our shareholders.

I am confident that our clear strategic focus and unwavering commitment to our purpose to inspire and build better lives and communities enable us to navigate the uncertainties of the current environment and continue to drive improved performance.”

— Bill Rogers, Truist Chairman & CEO


Contact:
Investors:	Brad Milsaps	investors@truist.com
Media:	Shelley Miller	media@truist.com


Net Interest Income, Net Interest Margin, and Average Balances
	Quarter Ended						Change
(Dollars in millions)	1Q25			4Q24				1Q24			Link				Like
Interest income(1)	$	6,036		$	6,230			$	6,237		$	(194)	(3.1)	%		$	(201)	(3.2)	%
Interest expense	2,481			2,589				2,812			(108)		(4.2)			(331)		(11.8)
Net interest income(1)	$	3,555		$	3,641			$	3,425		$	(86)	(2.4)			$	130	3.8

Net interest margin(1)	3.01		%	3.07		%		2.88		%	(6) bps					13 bps


Average Balances(2)
Total earning assets	$	476,214		$	472,639			$	476,497		$	3,575	0.8	%		$	(283)	(0.1)	%
Total interest-bearing liabilities	349,059			341,213				347,121			7,846		2.3			1,938		0.6

Yields / Rates(1)
Total earning assets	5.12		%	5.25		%		5.25		%	(13) bps					(13) bps
Total interest-bearing liabilities	2.88			3.02				3.26			(14) bps					(38) bps

(1)Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends.

(2)Represents daily average balances. Unrealized gains and losses on available-for-sale 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 for the first quarter of 2025 was down $86 million, or 2.4%, compared to the fourth quarter of 2024 primarily due to two fewer days. Net interest margin was 3.01%, down six basis points.

•Average earning assets increased $3.6 billion, or 0.8%, primarily due to an increase in average total loans of $2.9 billion, or 1.0%, and other earnings assets of $1.3 billion, or 3.4%, partially offset by a decline in average securities of $810 million, or 0.6%.

•The yield on the average total loan portfolio was 5.97%, down 15 basis points due to the impact of variable rate loans repricing. The yield on the average securities portfolio was 3.16%, down three basis points.

•Average deposits increased $2.2 billion, or 0.6%, average short-term borrowings increased $5.3 billion, or 21%, and average long-term debt decreased $1.7 billion, or 5.0%.

•The average cost of total deposits was 1.79%, down ten basis points, due to the impact of deposit repricing. The average cost of short-term borrowings was 4.49%, down 32 basis points reflecting lower market rates. The average cost of long-term debt was 5.05%, down one basis point.

Taxable-equivalent net interest income for the first quarter of 2025 was up $130 million, or 3.8%, compared to the first quarter of 2024 primarily due to the balance sheet repositioning in the second quarter of 2024. Net interest margin was 3.01%, up 13 basis points.

•Average earning assets decreased $283 million, or 0.1%, primarily due to a decline in average total loans of $1.9 billion, or 0.6%, and a decrease in average securities of $7.6 billion, or 5.8%, partially offset by growth in other earning assets of $8.4 billion, or 28%. The decrease in average securities and increase in average other earning assets primarily reflects the aforementioned balance sheet repositioning.

•The yield on the average total loan portfolio was 5.97%, down 41 basis points due to the impact of variable rate loans repricing. The yield on the average securities portfolio was 3.16%, up 71 basis points, reflecting the aforementioned balance sheet repositioning and reinvesting cash flows into higher yielding securities.

•Average deposits increased $3.1 billion, or 0.8%, average short-term borrowings increased $4.1 billion, or 16%, and average long-term debt decreased $8.3 billion, or 20%.

•The average cost of total deposits was 1.79%, down 24 basis points. The average cost of short-term borrowings was 4.49%, down 113 basis points. The average cost of long-term debt was 5.05%, up 31 basis points.

- 2 -


Noninterest Income
	Quarter Ended				Change
(Dollars in millions)	1Q25		4Q24			1Q24		Link				Like

Wealth management income	$	344	$	345		$	356	$	(1)	(0.3)	%		$	(12)	(3.4)	%
Investment banking and trading income	273		262			323		11		4.2			(50)		(15.5)
Card and payment related fees	220		231			224		(11)		(4.8)			(4)		(1.8)
Service charges on deposits	230		237			225		(7)		(3.0)			5		2.2
Mortgage banking income	108		117			97		(9)		(7.7)			11		11.3
Lending related fees	95		93			96		2		2.2			(1)		(1.0)
Operating lease income	53		47			59		6		12.8			(6)		(10.2)
Securities gains (losses)	(1)		(1)			—		—		—			(1)		NM
Other income	70		139			66		(69)		(49.6)			4		6.1
Total noninterest income	$	1,392	$	1,470		$	1,446	$	(78)	(5.3)			$	(54)	(3.7)

Noninterest income was down $78 million, or 5.3%, compared to the fourth quarter of 2024 primarily due to lower other income, partially offset by higher investment banking and trading income.

•Other income decreased due to lower income from certain solar equity investments and other investments.

•Investment banking and trading income increased due to strong debt capital markets activity, partially offset by lower trading income.

Noninterest income was down $54 million, or 3.7%, compared to the first quarter of 2024 primarily due to lower investment banking and trading income and wealth management income.

•Investment banking and trading income decreased due to lower merger and acquisition fees and trading income.

•Wealth management income decreased due to the impact of the sale of Sterling Capital Management LLC in 2024.

•Additionally, other income was relatively flat as higher income from certain solar investments was largely offset by lower income from investments held for certain post-retirement benefits (which is primarily offset by lower personnel expense).

- 3 -


Noninterest Expense
	Quarter Ended				Change
(Dollars in millions)	1Q25		4Q24			1Q24		Link				Like
Personnel expense	$	1,587	$	1,587		$	1,630	$	—	—	%		$	(43)	(2.6)	%
Professional fees and outside processing	364		415			278		(51)		(12.3)			86		30.9
Software expense	230		232			224		(2)		(0.9)			6		2.7
Net occupancy expense	163		179			160		(16)		(8.9)			3		1.9
Equipment expense	82		112			88		(30)		(26.8)			(6)		(6.8)
Amortization of intangibles	75		84			88		(9)		(10.7)			(13)		(14.8)
Marketing and customer development	75		74			56		1		1.4			19		33.9
Operating lease depreciation	35		36			40		(1)		(2.8)			(5)		(12.5)
Regulatory costs	69		56			152		13		23.2			(83)		(54.6)
Restructuring charges	38		11			51		27		NM			(13)		(25.5)

Other expense	188		249			186		(61)		(24.5)			2		1.1
Total noninterest expense	$	2,906	$	3,035		$	2,953	$	(129)	(4.3)			$	(47)	(1.6)

Noninterest expense was down $129 million, or 4.3%, compared to the fourth quarter of 2024 due to lower other expense, professional fees and outside processing expense, and equipment expense, partially offset by higher restructuring charges. Restructuring charges increased $27 million driven by higher costs associated with facilities optimization initiatives. Adjusted noninterest expense, which excludes the FDIC special assessment adjustment and restructuring charges, decreased $164 million, or 5.4%, compared to the prior quarter.

•Other expense decreased due to lower operating losses and lower insurance expense.

•Professional fees and outside processing expense decreased due to lower technology and risk infrastructure costs.

•Equipment expense decreased due to a lower volume of laptop purchases and other technology equipment.

Noninterest expense was down $47 million, or 1.6%, compared to the first quarter of 2024 due to lower regulatory costs driven by the prior period FDIC special assessment adjustment of $75 million and lower personnel expense, partially offset higher professional fees and outside processing expense. Restructuring charges for both quarters include severance charges as well as costs associated with facilities optimization initiatives. Adjusted noninterest expense, which excludes the FDIC special assessment adjustment and restructuring charges, increased $41 million, or 1.5%, compared to the earlier quarter.

•Professional fees and outside processing expense increased due to higher investments in technology and risk infrastructure.

•Personnel expense decreased due to lower other post-retirement benefit expense (which is almost entirely offset by lower other income) and expenses for retirement plans, partially offset by higher medical claims and incentive compensation.

- 4 -


Provision for Income Taxes
	Quarter Ended						Change
(Dollars in millions)	1Q25			4Q24				1Q24			Link			Like
Provision for income taxes	$	274		$	265			$	232		$	9	3.4%		$	42	18.1%
Effective tax rate	17.9		%	17.1		%		17.0		%	80 bps				90 bps

The higher effective tax rate for the first quarter of 2025 compared to the fourth quarter of 2024 is primarily due to higher discrete tax expense.

The higher effective tax rate for the first quarter of 2025 compared to the first quarter of 2024 is primarily due to higher forecasted 2025 pre-tax earnings, partially offset by lower discrete tax expense.


Average Loans and Leases
(Dollars in millions)	1Q25		4Q24		Change		% Change

Commercial:
Commercial and industrial	$	155,214	$	153,209	$	2,005	1.3	%
CRE	19,832		20,504		(672)		(3.3)
Commercial construction	8,734		8,261		473		5.7

Total commercial	183,780		181,974		1,806		1.0
Consumer:
Residential mortgage	55,658		54,390		1,268		2.3
Home equity	9,569		9,675		(106)		(1.1)
Indirect auto	23,248		22,790		458		2.0
Other consumer	29,291		29,355		(64)		(0.2)

Total consumer	117,766		116,210		1,556		1.3
Credit card	4,849		4,926		(77)		(1.6)

Total loans and leases held for investment	$	306,395	$	303,110	$	3,285	1.1

Average loans and leases HFI were $306.4 billion, an increase of $3.3 billion, or 1.1%, compared to the prior quarter.

•Average commercial loans increased 1.0% due to an increase in the commercial and industrial portfolio.

•Average consumer loans increased 1.3% due to growth in the residential mortgage and indirect auto portfolios.

End of period loans and leases HFI were $308.6 billion, up $2.3 billion, or 0.7%, primarily due to increases in the commercial and industrial, indirect auto, and residential mortgage portfolios, partially offset by a decline in the CRE portfolio.


Average Deposits
(Dollars in millions)	1Q25		4Q24		Change		% Change

Noninterest-bearing deposits	$	105,895	$	107,968	$	(2,073)	(1.9)	%
Interest checking	109,208		107,075		2,133		2.0
Money market and savings	136,897		138,242		(1,345)		(1.0)
Time deposits	40,204		36,757		3,447		9.4

Total deposits	$	392,204	$	390,042	$	2,162	0.6

Average deposits for the first quarter of 2025 were $392.2 billion, an increase of $2.2 billion, or 0.6%, compared to the prior quarter.

Average noninterest-bearing deposits decreased 1.9% compared to the prior quarter and represented 27.0% of total deposits for the first quarter of 2025 compared to 27.7% for the fourth quarter of 2024. Average interest checking increased 2.0%. Average money market and savings accounts decreased 1.0%. Average time deposits increased 9.4%.

- 5 -


Capital Ratios
	1Q25		4Q24		3Q24		2Q24		1Q24
Risk-based:	(preliminary)
CET1	11.3	%	11.5	%	11.6	%	11.6	%	10.1	%
Tier 1	12.7		12.9		13.2		13.2		11.7
Total	14.7		15.0		15.3		15.4		13.9
Leverage	10.3		10.5		10.8		10.5		9.5
Supplementary leverage	8.7		8.8		9.1		8.9		8.0

Capital ratios remained strong compared to the regulatory requirements for well capitalized banks. Truist’s CET1 ratio was 11.3% as of March 31, 2025, down 20 basis points compared to December 31, 2024 due to capital returned to shareholders, an increase in risk-weighted assets, and the final CECL phase-in, partially offset by current quarter earnings.

Truist declared common dividends of $0.52 per share during the first quarter of 2025 and repurchased $500 million of common stock. The dividend and total payout ratios for the first quarter of 2025 were 59% and 102%, respectively.

Truist’s average consolidated LCR was 111% for the three months ended March 31, 2025, compared to the regulatory minimum of 100%.

- 6 -



Asset Quality
(Dollars in millions)	1Q25			4Q24			3Q24			2Q24			1Q24
Total nonperforming assets	$	1,618		$	1,477		$	1,528		$	1,476		$	1,476

Total loans 90 days past due and still accruing	616			587			518			489			538
Total loans 30-89 days past due and still accruing	1,619			1,949			1,769			1,791			1,716
Nonperforming loans and leases as a percentage of loans and leases held for investment	0.48		%	0.47		%	0.48		%	0.46		%	0.45		%


Loans 30-89 days past due and still accruing as a percentage of loans and leases	0.52			0.64			0.58			0.59			0.56
Loans 90 days or more past due and still accruing as a percentage of loans and leases	0.20			0.19			0.17			0.16			0.18
Loans 90 days or more past due and still accruing as a percentage of loans and leases, excluding government guaranteed	0.05			0.05			0.04			0.04			0.04
Allowance for loan and lease losses as a percentage of loans and leases held for investment	1.58			1.59			1.60			1.57			1.56
Ratio of allowance for loan and lease losses to net charge-offs	2.6x			2.7x			2.9x			2.7x			2.4x
Ratio of allowance for loan and lease losses to nonperforming loans and leases held for investment	3.3x			3.4x			3.3x			3.4x			3.4x

Applicable ratios are annualized.

Nonperforming assets totaled $1.6 billion at March 31, 2025, up $141 million compared to December 31, 2024, due to increases in the commercial and industrial and the LHFS portfolios. Nonperforming loans and leases held for investment were 0.48% of loans and leases held for investment at March 31, 2025, up one basis point compared to December 31, 2024.

Loans 90 days or more past due and still accruing totaled $616 million at March 31, 2025, up one basis point as a percentage of loans and leases compared with the prior quarter. 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 0.05% at March 31, 2025, flat compared to December 31, 2024.

Loans 30-89 days past due and still accruing totaled $1.6 billion at March 31, 2025, down $330 million, or 12 basis points, as a percentage of loans and leases, compared to the prior quarter primarily due to a decrease in the indirect auto, residential mortgage, commercial and industrial, and CRE portfolios.

The allowance for credit losses was $5.2 billion at March 31, 2025 and included $4.9 billion for the allowance for loan and lease losses and $296 million for the reserve for unfunded commitments. The ALLL ratio was 1.58%, down one basis point compared with December 31, 2024. The ALLL covered nonperforming loans and leases held for investment 3.3x, compared to 3.4x at December 31, 2024. At March 31, 2025, the ALLL was 2.6x annualized net charge-offs, compared to 2.7x at December 31, 2024.


Provision for Credit Losses
	Quarter Ended						Change
(Dollars in millions)	1Q25			4Q24				1Q24			Link				Like
Provision for credit losses	$	458		$	471			$	500		$	(13)	(2.8)	%		$	(42)	(8.4)	%
Net charge-offs	454			453				490			1		0.2			(36)		(7.3)

Net charge-offs as a percentage of average loans and leases	0.60		%	0.59		%		0.64		%	1 bps					(4) bps

Applicable ratios are annualized.

The provision for credit losses was $458 million for the first quarter of 2025 compared to $471 million for the fourth quarter of 2024.

•The decrease in the current quarter provision expense primarily reflects a lower allowance build.

The provision for credit losses was $458 million for the first quarter of 2025 compared to $500 million for the first quarter of 2024.

•The net charge-off ratio for the current quarter was down compared to the first quarter of 2024 primarily driven by lower net charge-offs in the CRE portfolio.

- 7 -


Earnings Presentation and Quarterly Performance Summary

Investors can access the live first quarter 2025 earnings call at 8 a.m. ET today by webcast or dial-in as follows:

Webcast: app.webinar.net/KNd8VGQjew3

Dial-in: 1-877-883-0383, passcode 0999346

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 First Quarter 2025 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 $536 billion as of March 31, 2025. Truist Bank, Member FDIC. Learn more at Truist.com.

#-#-#


Glossary of Defined Terms
Term			Definition

ALLL			Allowance for loan and lease losses
BVPS			Book value (common equity) per share

CECL			Current expected credit loss model
CEO			Chief Executive Officer
CET1			Common equity tier 1
CRE			Commercial real estate

FDIC			Federal Deposit Insurance Corporation

GAAP			Accounting principles generally accepted in the United States of America
HFI			Held for investment
LCR			Liquidity Coverage Ratio
LHFS			Loans held for sale
Like			Compared to first quarter of 2024
Link			Compared to fourth quarter of 2024
NCO			Net charge-offs
NIM			Net interest margin, computed on a TE basis
NM			Not meaningful
PPNR			Pre-provision net revenue
ROCE			Return on average common equity
ROTCE			Return on average tangible common equity


TBVPS			Tangible book value per common share
TE			Taxable-equivalent

- 8 -


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:

•Adjusted net income available to common shareholders and adjusted diluted EPS - Adjusted net income available to common shareholders and adjusted diluted earnings per share are non-GAAP in that these measures exclude selected items, net of tax. 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, as well as demonstrate the effects of significant gains and charges.

•Adjusted efficiency ratio, adjusted fee income ratio, and related measures - The adjusted efficiency ratio is non-GAAP in that it excludes securities gains and losses, amortization of intangible assets, restructuring charges, and other selected items. Adjusted revenue and adjusted noninterest expense are related measures used to calculate the adjusted efficiency ratio. Additionally, the adjusted fee income ratio is non-GAAP in that it excludes securities gains and losses and other selected items, and is calculated using adjusted revenue and adjusted noninterest income. Adjusted revenue and adjusted noninterest income exclude securities gains and losses and other selected items. Adjusted noninterest expense excludes restructuring charges, and other selected items. Truist’s management calculated these measures based on Truist’s continuing operations. 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, as well as demonstrate the effects of significant gains and charges.

•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. Adjusted pre-provision net revenue is a non-GAAP measure that additionally excludes securities gains (losses), restructuring charges, and other selected items. Truist’s management calculated these measures based on Truist’s continuing operations. Truist’s management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods.

•Tangible Common Equity and Related Measures - 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.

A reconciliation of each of these non-GAAP measures to the most directly comparable GAAP measure is included in the appendix to Truist’s First Quarter 2025 Earnings Presentation, which is available at https://ir.truist.com/earnings.

- 9 -


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:

•evolving political, geopolitical, business, social, economic, and market conditions at local, regional, national, and international levels;

•monetary, fiscal, and trade laws or policies, including tariffs or responses to rates of inflation above target levels;

•the legal, regulatory, and supervisory environment, including changes in financial-services legislation, regulation, policies, or government officials or other personnel;

•our ability to address heightened 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;

•evolving accounting standards and policies;

•the adequacy of our corporate governance, risk-management framework, compliance programs, and internal controls over financial reporting, including our ability to control lapses or deficiencies in financial reporting, to make appropriate estimates, or to effectively mitigate or manage operational risk;

•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;

•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;

•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;

•changes in any of our credit ratings;

•our ability to manage any unexpected outflows of uninsured deposits and avoid selling investment securities or other assets at an unfavorable time or at a loss;

•negative market perceptions of our investment portfolio or its value;

•adverse publicity or other reputational harm to us, our service providers, or our senior officers;

•business and consumer sentiment, preferences, or behavior, including spending, borrowing, or saving by businesses or households;

•our ability to execute on strategic and operational plans, including accelerating growth, improving profitability, investing in talent, technology, and risk infrastructure, maintaining expense, credit, and risk discipline, and returning capital to shareholders;

•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;

•our ability to develop, maintain, and market our products or services or to absorb unanticipated costs or liabilities associated with those products or services;

•our ability to innovate, to anticipate the needs of current or future clients, to successfully compete, to increase or hold market share in changing competitive environments, or to deal with pricing or other competitive pressures;

•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 appropriately underwrite loans that we originate or purchase and to otherwise manage credit risk;

•our ability to satisfactorily and profitably perform loan servicing and similar obligations;

•the credit, liquidity, or other financial condition of our clients, counterparties, service providers, or competitors;

•our ability to effectively deal with economic, business, or market slowdowns or disruptions;

•the efficacy of our methods or models in assessing business strategies or opportunities or in valuing, measuring, estimating, monitoring, or managing positions or risk;

•our ability to keep pace with changes in technology that affect us or our clients, counterparties, service providers, or competitors or to maintain rights or interests in associated intellectual property;

•our ability to attract, hire, and retain key teammates and to engage in adequate succession planning;

•the performance and availability 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;

•our ability to detect, prevent, mitigate, and otherwise manage the risk of fraud or misconduct by internal or external parties;

•our ability to manage 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, environmental conditions, and intentional acts of destruction;

•natural or other disasters, calamities, and conflicts, including terrorist events, cyber-warfare, and pandemics;

•widespread outages of operational, communication, and other systems;

•our ability to maintain appropriate corporate responsibility practices, oversight, and disclosures;

•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; and

•other assumptions, risks, or uncertainties described in the Risk Factors (Item 1A), Management’s Discussion and Analysis of Financial Condition and Results of Operations (Item 7), or the Notes to the Consolidated Financial Statements (Item 8) in our Annual Report on Form 10-K or described in any of the Company’s subsequent quarterly or current 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.

- 10 -

EX-99.2 3 ex992-qpsx1q25.htm EX-99.2 Document

Quarterly Performance Summary

Truist Financial Corporation

First Quarter 2025


Table of Contents
Quarterly Performance Summary
Truist Financial Corporation




						Page
Financial Highlights						1

Consolidated Statements of Income						2

Consolidated Ending Balance Sheets						3


Average Balances and Rates						4

Credit Quality						5

Segment Financial Performance						7
Capital Information						8
Selected Mortgage Banking Information & Additional Information						9
Selected Items						10

Financial Highlights


	Quarter Ended
(Dollars in millions, except per share data, shares in thousands)	March 31			Dec. 31			Sept. 30			June 30			March 31
	2025			2024			2024			2024			2024
Summary Income Statement
Interest income - taxable equivalent	$	6,036		$	6,230		$	6,407		$	6,404		$	6,237
Interest expense	2,481			2,589			2,750			2,824			2,812
Net interest income - taxable equivalent	3,555			3,641			3,657			3,580			3,425
Less: Taxable-equivalent adjustment	48			51			55			53			53
Net interest income	3,507			3,590			3,602			3,527			3,372
Provision for credit losses	458			471			448			451			500
Net interest income after provision for credit losses	3,049			3,119			3,154			3,076			2,872
Noninterest income	1,392			1,470			1,483			(5,212)			1,446
Noninterest expense	2,906			3,035			2,927			3,094			2,953
Income (loss) before income taxes	1,535			1,554			1,710			(5,230)			1,365
Provision (benefit) for income taxes	274			265			271			(1,324)			232
Net income (loss) from continuing operations	1,261			1,289			1,439			(3,906)			1,133
Net income (loss) from discontinued operations	—			(13)			3			4,828			67
Net income	1,261			1,276			1,442			922			1,200

Noncontrolling interests from discontinued operations	—			—			—			19			3

Preferred stock dividends and other	104			60			106			77			106
Net Income available to common shareholders	1,157			1,216			1,336			826			1,091
Net income available to common shareholders - adjusted(1)	1,158			1,211			1,307			1,235			1,216
Additional Income Statement Information
Revenue - taxable equivalent	4,947			5,111			5,140			(1,632)			4,871
Pre-provision net revenue - unadjusted(1)	2,041			2,076			2,213			(4,726)			1,918
Pre-provision net revenue - adjusted(1)	2,080			2,080			2,222			2,120			2,044
Key Metrics
Earnings:
Earnings per share-basic from continuing operations(2)	$	0.88		$	0.93		$	1.00		$	(2.98)		$	0.77

Earnings per share-basic	0.88			0.92			1.00			0.62			0.82
Earnings per share-diluted from continuing operations(2)	0.87			0.92			0.99			(2.98)			0.76

Earnings per share-diluted	0.87			0.91			0.99			0.62			0.81
Earnings per share-adjusted diluted(1)	0.87			0.91			0.97			0.91			0.90
Cash dividends declared per share	0.52			0.52			0.52			0.52			0.52
Common shareholders’ equity per share	44.85			43.90			44.46			42.71			38.97
Tangible common shareholders’ equity per share(1)	30.95			30.01			30.64			28.91			21.64
End of period shares outstanding	1,309,539			1,315,936			1,327,521			1,338,223			1,338,096
Weighted average shares outstanding-basic	1,307,457			1,317,017			1,334,212			1,338,149			1,335,091
Weighted average shares outstanding-diluted	1,324,339			1,333,701			1,349,129			1,338,149			1,346,904
Return on average assets	0.96		%	0.96		%	1.10		%	0.70		%	0.91		%
Return on average common shareholders’ equity	8.1			8.4			9.1			6.1			8.4
Return on average tangible common shareholders’ equity(1)	12.3			12.9			13.8			10.4			16.3
Net interest margin - taxable equivalent(2)	3.01			3.07			3.12			3.02			2.88
Efficiency ratio-unadjusted(1)(2)	59.3			60.0			57.5			NM			61.3
Efficiency ratio-adjusted(1)(2)	56.4			57.7			55.2			56.0			56.2
Fee income ratio-unadjusted(1)(2)	28.4			29.0			29.2			NM			30.0
Fee income ratio-adjusted(1)(2)	28.2			28.8			28.9			28.7			29.7
Credit Quality
Nonperforming loans and leases as a percentage of LHFI	0.48		%	0.47		%	0.48		%	0.46		%	0.45		%
Net charge-offs as a percentage of average LHFI	0.60			0.59			0.55			0.58			0.64
Allowance for loan and lease losses as a percentage of LHFI	1.58			1.59			1.60			1.57			1.56
Ratio of allowance for loan and lease losses to nonperforming LHFI	3.3x			3.4x			3.3x			3.4x			3.4x
Average Balances
Assets	$	531,630		$	527,013		$	519,415		$	526,894		$	531,002
Securities(3)	124,061			124,871			117,172			121,796			131,659
Loans and leases	307,528			304,609			304,578			307,583			309,426
Deposits	392,204			390,042			384,344			388,042			389,058
Common shareholders’ equity	58,125			57,754			58,667			54,863			52,167
Total shareholders’ equity	64,033			64,295			65,341			61,677			59,011
Period-End Balances
Assets	$	535,899		$	531,176		$	523,434		$	519,853		$	534,959
Securities(3)	117,888			118,104			115,606			108,416			119,419
Loans and leases	309,752			307,771			304,362			307,149			308,477
Deposits	403,736			390,524			387,778			385,411			394,265
Common shareholders’ equity	58,728			57,772			59,023			57,154			52,148
Total shareholders’ equity	64,635			63,679			65,696			63,827			59,053
Capital and Liquidity Ratios	(preliminary)
Common equity tier 1	11.3		%	11.5		%	11.6		%	11.6		%	10.1		%
Tier 1	12.7			12.9			13.2			13.2			11.7
Total	14.7			15.0			15.3			15.4			13.9
Leverage	10.3			10.5			10.8			10.5			9.5
Supplementary leverage	8.7			8.8			9.1			8.9			8.0
Liquidity coverage ratio	111			109			112			110			115

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 appendix to Truist’s First Quarter 2025 Earnings Presentation.

(2)This metric is calculated based on continuing operations.

(3)Includes AFS and HTM securities. Average balances reflect AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost.

- 1 -

Consolidated Statements of Income


	Quarter Ended
	March 31		Dec. 31		Sept. 30		June 30		March 31
(Dollars in millions, except per share data, shares in thousands)	2025		2024		2024		2024		2024
Interest Income
Interest and fees on loans and leases	$	4,493	$	4,634	$	4,852	$	4,879	$	4,865
Interest on securities	975		994		869		838		805
Interest on other earning assets	520		551		631		634		514
Total interest income	5,988		6,179		6,352		6,351		6,184
Interest Expense
Interest on deposits	1,736		1,855		2,014		2,016		1,964
Interest on long-term debt	409		431		454		446		482
Interest on other borrowings	336		303		282		362		366
Total interest expense	2,481		2,589		2,750		2,824		2,812
Net Interest Income	3,507		3,590		3,602		3,527		3,372
Provision for credit losses	458		471		448		451		500
Net Interest Income After Provision for Credit Losses	3,049		3,119		3,154		3,076		2,872
Noninterest Income

Wealth management income	344		345		350		361		356
Investment banking and trading income	273		262		332		286		323
Card and payment related fees	220		231		222		230		224
Service charges on deposits	230		237		221		232		225
Mortgage banking income	108		117		106		112		97
Lending related fees	95		93		88		89		96
Operating lease income	53		47		49		50		59
Securities gains (losses)	(1)		(1)		—		(6,650)		—
Other income	70		139		115		78		66
Total noninterest income	1,392		1,470		1,483		(5,212)		1,446
Noninterest Expense
Personnel expense	1,587		1,587		1,628		1,661		1,630
Professional fees and outside processing	364		415		336		308		278
Software expense	230		232		222		218		224
Net occupancy expense	163		179		157		160		160
Equipment expense	82		112		84		89		88
Amortization of intangibles	75		84		84		89		88
Marketing and customer development	75		74		75		63		56
Operating lease depreciation	35		36		34		34		40
Regulatory costs	69		56		51		85		152
Restructuring charges	38		11		25		33		51

Other expense	188		249		231		354		186
Total noninterest expense	2,906		3,035		2,927		3,094		2,953
Earnings
Income (loss) before income taxes	1,535		1,554		1,710		(5,230)		1,365
Provision (benefit) for income taxes	274		265		271		(1,324)		232
Net income (loss) from continuing operations	1,261		1,289		1,439		(3,906)		1,133
Net income from discontinued operations	—		(13)		3		4,828		67
Net income	1,261		1,276		1,442		922		1,200

Noncontrolling interests from discontinuing operations	—		—		—		19		3


Preferred stock dividends and other	104		60		106		77		106


Net income available to common shareholders	$	1,157	$	1,216	$	1,336	$	826	$	1,091

Earnings Per Common Share
Basic earnings from continuing operations	$	0.88	$	0.93	$	1.00	$	(2.98)	$	0.77

Basic earnings	0.88		0.92		1.00		0.62		0.82
Diluted earnings from continuing operations	0.87		0.92		0.99		(2.98)		0.76

Diluted earnings	0.87		0.91		0.99		0.62		0.81
Weighted Average Shares Outstanding
Basic	1,307,457		1,317,017		1,334,212		1,338,149		1,335,091
Diluted	1,324,339		1,333,701		1,349,129		1,338,149		1,346,904

- 2 -

Consolidated Ending Balance Sheets - Five Quarter Trend


	March 31		Dec. 31		Sept. 30		June 30		March 31
(Dollars in millions)	2025		2024		2024		2024		2024
Assets
Cash and due from banks	$	5,996	$	5,793	$	5,229	$	5,204	$	5,040
Interest-bearing deposits with banks	36,175		33,975		34,411		35,675		29,510
Securities borrowed or purchased under resale agreements	2,810		2,550		2,973		2,338		2,091
Trading assets at fair value	5,838		5,100		5,209		5,558		5,268
Securities available for sale at fair value	68,012		67,464		64,111		55,969		66,050
Securities held to maturity at amortized cost	49,876		50,640		51,495		52,447		53,369
Loans and leases:
Commercial:
Commercial and industrial	156,679		154,848		153,925		156,400		157,669
CRE	19,578		20,363		20,912		21,730		22,142
Commercial construction	8,766		8,520		7,980		7,787		7,472

Consumer:
Residential mortgage	56,099		55,599		53,963		54,344		54,886
Home equity	9,523		9,642		9,680		9,772		9,825
Indirect auto	23,628		23,089		22,508		21,994		22,145
Other consumer	29,537		29,395		29,282		28,677		28,096

Credit card	4,828		4,927		4,834		4,988		4,989

Total loans and leases held for investment	308,638		306,383		303,084		305,692		307,224
Loans held for sale	1,114		1,388		1,278		1,457		1,253
Total loans and leases	309,752		307,771		304,362		307,149		308,477
Allowance for loan and lease losses	(4,870)		(4,857)		(4,842)		(4,808)		(4,803)
Premises and equipment	3,168		3,225		3,251		3,244		3,274
Goodwill	17,125		17,125		17,125		17,157		17,157
Core deposit and other intangible assets	1,473		1,550		1,635		1,729		1,816
Loan servicing rights at fair value	3,628		3,708		3,499		3,410		3,417
Other assets	36,916		37,132		34,976		34,781		36,521
Assets of discontinued operations(1)	—		—		—		—		7,772
Total assets	$	535,899	$	531,176	$	523,434	$	519,853	$	534,959
Liabilities
Deposits:
Noninterest-bearing deposits	$	108,461	$	107,451	$	105,984	$	107,310	$	110,901
Interest checking	118,043		109,042		109,493		102,654		108,329
Money market and savings	136,777		137,307		134,349		136,989		133,176
Time deposits	40,455		36,724		37,952		38,458		41,859

Total deposits	403,736		390,524		387,778		385,411		394,265
Short-term borrowings	23,730		29,205		20,859		22,816		26,329
Long-term debt	32,030		34,956		36,770		34,616		39,071
Other liabilities	11,768		12,812		12,331		13,183		13,119
Liabilities of discontinued operations	—		—		—		—		3,122
Total liabilities	471,264		467,497		457,738		456,026		475,906
Shareholders’ Equity:
Preferred stock	5,907		5,907		6,673		6,673		6,673
Common stock	6,548		6,580		6,638		6,691		6,690
Additional paid-in capital	35,178		35,628		36,020		36,364		36,197
Retained earnings	24,252		23,777		23,248		22,603		22,483
Accumulated other comprehensive loss	(7,250)		(8,213)		(6,883)		(8,504)		(13,222)
Noncontrolling interests	—		—		—		—		232
Total shareholders’ equity	64,635		63,679		65,696		63,827		59,053
Total liabilities and shareholders’ equity	$	535,899	$	531,176	$	523,434	$	519,853	$	534,959

(1)Includes goodwill and intangible assets of $5.0 billion as of March 31, 2024.

- 3 -

Average Balances and Rates - Quarters


	Quarter Ended
	March 31, 2025						December 31, 2024						September 30, 2024						June 30, 2024						March 31, 2024
(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	$	14,867	$	191	5.19	%	$	14,387	$	196	5.40	%	$	12,986	$	151	4.65	%	$	11,138	$	101	3.66	%	$	9,853	$	37	1.49	%
U.S. government-sponsored entities (GSE)	462		4		3.75		412		3		3.42		377		4		3.41		382		3		3.27		389		3		3.40
Mortgage-backed securities issued by GSE	108,345		777		2.87		109,644		792		2.89		103,374		711		2.75		108,358		720		2.66		117,301		735		2.51
States and political subdivisions	370		4		4.20		411		5		4.14		417		3		4.14		420		5		4.14		421		4		4.15
Non-agency mortgage-backed	—		—		—		—		—		—		—		—		—		1,480		10		2.56		3,676		27		2.95
Other	17		—		4.72		17		—		5.16		18		1		5.18		18		—		5.29		19		—		5.35
Total securities	124,061		976		3.16		124,871		996		3.19		117,172		870		2.97		121,796		839		2.76		131,659		806		2.45
Loans and leases:
Commercial:
Commercial and industrial	155,214		2,184		5.70		153,209		2,293		5.95		154,102		2,482		6.41		157,043		2,550		6.53		158,385		2,572		6.53
CRE	19,832		302		6.12		20,504		337		6.47		21,481		373		6.88		21,969		381		6.93		22,400		389		6.95
Commercial construction	8,734		145		6.84		8,261		147		7.26		7,870		152		7.79		7,645		147		7.85		7,134		137		7.83

Consumer:
Residential mortgage	55,658		562		4.04		54,390		536		3.94		53,999		525		3.89		54,490		525		3.86		55,070		528		3.84
Home equity	9,569		177		7.48		9,675		189		7.78		9,703		196		8.04		9,805		195		8.02		9,930		196		7.92
Indirect auto	23,248		412		7.19		22,790		411		7.19		22,121		399		7.18		22,016		381		6.95		22,374		372		6.69
Other consumer	29,291		602		8.33		29,355		606		8.21		29,015		603		8.26		28,326		581		8.25		28,285		561		7.98

Credit card	4,849		138		11.60		4,926		143		11.54		4,874		150		12.20		4,905		148		12.14		4,923		146		11.96

Total loans and leases held for investment	306,395		4,522		5.97		303,110		4,662		6.12		303,165		4,880		6.41		306,199		4,908		6.44		308,501		4,901		6.38
Loans held for sale	1,133		17		5.93		1,499		21		5.87		1,413		24		6.49		1,384		22		6.56		925		15		6.38
Total loans and leases	307,528		4,539		5.97		304,609		4,683		6.12		304,578		4,904		6.41		307,583		4,930		6.44		309,426		4,916		6.38

Interest earning trading assets	5,628		80		5.72		5,462		79		5.86		5,454		84		6.05		5,515		84		6.11		4,845		79		6.50
Other earning assets(3)	38,997		441		4.53		37,697		472		4.91		38,933		549		5.54		39,250		551		5.56		30,567		436		5.74
Total earning assets	476,214		6,036		5.12		472,639		6,230		5.25		466,137		6,407		5.47		474,144		6,404		5.42		476,497		6,237		5.25
Nonearning assets	55,416						54,374						53,278						50,109						46,921
Assets of discontinued operations	—						—						—						2,641						7,584
Total assets	$	531,630					$	527,013					$	519,415					$	526,894					$	531,002
Liabilities and Shareholders’ Equity
Interest-bearing deposits:
Interest checking	$	109,208	640		2.37		$	107,075	679		2.52		$	103,899	732		2.80		$	103,894	707		2.74		$	103,537	684		2.65
Money market and savings	136,897		743		2.20		138,242		838		2.41		136,639		914		2.66		135,264		873		2.60		134,696		832		2.49
Time deposits	40,204		353		3.56		36,757		338		3.66		37,726		368		3.88		41,250		436		4.24		41,937		448		4.30

Total interest-bearing deposits	286,309		1,736		2.46		282,074		1,855		2.62		278,264		2,014		2.88		280,408		2,016		2.89		280,170		1,964		2.82
Short-term borrowings	30,332		336		4.49		25,006		303		4.81		20,781		282		5.41		26,016		362		5.58		26,230		366		5.62
Long-term debt	32,418		409		5.05		34,133		431		5.06		35,318		454		5.13		36,721		446		4.87		40,721		482		4.74
Total interest-bearing liabilities	349,059		2,481		2.88		341,213		2,589		3.02		334,363		2,750		3.27		343,145		2,824		3.31		347,121		2,812		3.26
Noninterest-bearing deposits	105,895						107,968						106,080						107,634						108,888
Other liabilities	12,643						13,537						13,631						13,318						12,885
Liabilities of discontinued operations	—						—						—						1,120						3,097
Shareholders’ equity	64,033						64,295						65,341						61,677						59,011
Total liabilities and shareholders’ equity	$	531,630					$	527,013					$	519,415					$	526,894					$	531,002
Average interest-rate spread					2.24						2.23						2.20						2.11						1.99

Net interest income/ net interest margin			$	3,555	3.01	%			$	3,641	3.07	%			$	3,657	3.12	%			$	3,580	3.02	%			$	3,425	2.88	%
Taxable-equivalent adjustment			48						51						55						53						53
Memo: Total deposits	$	392,204	1,736		1.79	%	$	390,042	1,855		1.89	%	$	384,344	2,014		2.08	%	$	388,042	2,016		2.09	%	$	389,058	1,964		2.03	%

(1)Represents daily average balances. Unrealized gains and losses on available-for-sale securities are included in nonearning assets. Active hedge basis adjustments for fair value hedges are included in nonearning assets and other liabilities.

(2)Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends.

(3)Includes cash equivalents, interest-bearing deposits with banks, FHLB stock, and other earning assets.

- 4 -

Credit Quality


	March 31		Dec. 31		Sept. 30		June 30		March 31
(Dollars in millions)	2025		2024		2024		2024		2024
Nonperforming Assets
Nonaccrual loans and leases:
Commercial:
Commercial and industrial	$	586	$	521	$	575	$	459	$	512
CRE	294		298		302		360		261
Commercial construction	2		3		1		—		23

Consumer:
Residential mortgage	179		166		156		161		151
Home equity	114		116		118		123		130
Indirect auto	248		259		252		244		256
Other consumer	65		66		63		64		61


Total nonaccrual loans and leases held for investment	1,488		1,429		1,467		1,411		1,394
Loans held for sale	77		—		5		9		22
Total nonaccrual loans and leases	1,565		1,429		1,472		1,420		1,416
Foreclosed real estate	4		3		3		5		4

Other foreclosed property	49		45		53		51		56
Total nonperforming assets	$	1,618	$	1,477	$	1,528	$	1,476	$	1,476



















Loans 90 Days or More Past Due and Still Accruing
Commercial:
Commercial and industrial	$	5	$	19	$	5	$	8	$	12
CRE	—		1		—		—		—
Commercial construction	—		—		—		1		—

Consumer:
Residential mortgage - government guaranteed	468		430		394		375		408
Residential mortgage - nonguaranteed	62		51		39		27		33
Home equity	6		9		7		7		10
Indirect auto	—		—		—		1		1
Other consumer	23		23		22		19		18


Credit card	52		54		51		51		56

Total loans 90 days past due and still accruing	$	616	$	587	$	518	$	489	$	538
Loans 30-89 Days Past Due
Commercial:
Commercial and industrial	$	118	$	168	$	116	$	109	$	158
CRE	12		60		10		8		21
Commercial construction	—		3		4		—		—

Consumer:
Residential mortgage - government guaranteed	284		318		305		340		286
Residential mortgage - nonguaranteed	347		401		366		392		352
Home equity	57		60		63		58		59
Indirect auto	484		622		596		592		540
Other consumer	246		236		233		214		226


Credit card	71		81		76		78		74

Total loans 30-89 days past due	$	1,619	$	1,949	$	1,769	$	1,791	$	1,716



	As of/For the Quarter Ended
	March 31		Dec. 31		Sept. 30		June 30		March 31
	2025		2024		2024		2024		2024
Asset Quality Ratios
Loans 30-89 days past due and still accruing as a percentage of loans and leases	0.52	%	0.64	%	0.58	%	0.59	%	0.56	%
Loans 90 days or more past due and still accruing as a percentage of loans and leases	0.20		0.19		0.17		0.16		0.18
Nonperforming loans and leases as a percentage of loans and leases held for investment	0.48		0.47		0.48		0.46		0.45
Nonperforming loans and leases as a percentage of loans and leases(1)	0.51		0.46		0.48		0.46		0.46
Nonperforming assets as a percentage of:
Total assets(1)	0.30		0.28		0.29		0.28		0.28
Loans and leases plus foreclosed property	0.50		0.48		0.50		0.48		0.47
Net charge-offs as a percentage of average loans and leases	0.60		0.59		0.55		0.58		0.64
Allowance for loan and lease losses as a percentage of loans and leases	1.58		1.59		1.60		1.57		1.56
Ratio of allowance for loan and lease losses to:
Net charge-offs	2.6X		2.7X		2.9X		2.7X		2.4X
Nonperforming loans and leases	3.3X		3.4X		3.3X		3.4X		3.4X
Asset Quality Ratios (Excluding Government Guaranteed)
Loans 90 days or more past due and still accruing as a percentage of loans and leases	0.05	%	0.05	%	0.04	%	0.04	%	0.04	%
Applicable ratios are annualized.
(1)Includes loans held for sale.

- 5 -



	As of/For the Quarter Ended
	March 31		Dec. 31		Sept. 30		June 30		March 31
(Dollars in millions)	2025		2024		2024		2024		2024
Allowance for Credit Losses
Beginning balance	$	5,161	$	5,140	$	5,110	$	5,100	$	5,093
Provision for credit losses	458		471		448		451		500
Charge-offs:
Commercial:
Commercial and industrial	(102)		(119)		(96)		(83)		(97)
CRE	(70)		(51)		(65)		(97)		(103)


Consumer:
Residential mortgage	(1)		(1)		—		(1)		(1)
Home equity	(2)		(2)		(1)		(3)		(3)
Indirect auto	(154)		(158)		(143)		(136)		(154)
Other consumer	(154)		(148)		(152)		(141)		(165)

Credit card	(74)		(74)		(71)		(74)		(77)

Total charge-offs	(557)		(553)		(528)		(535)		(600)
Recoveries:
Commercial:
Commercial and industrial	24		15		26		14		32
CRE	7		17		5		5		7
Commercial construction	—		—		1		1		—

Consumer:
Residential mortgage	2		2		1		2		1
Home equity	4		3		4		4		5
Indirect auto	25		24		38		30		28
Other consumer	30		28		26		28		28

Credit card	11		11		9		9		9

Total recoveries	103		100		110		93		110
Net charge-offs	(454)		(453)		(418)		(442)		(490)
Other	1		3		—		1		(3)
Ending balance	$	5,166	$	5,161	$	5,140	$	5,110	$	5,100
Allowance for Credit Losses:


Allowance for loan and lease losses	$	4,870	$	4,857	$	4,842	$	4,808	$	4,803
Reserve for unfunded lending commitments (RUFC)	296		304		298		302		297
Allowance for credit losses	$	5,166	$	5,161	$	5,140	$	5,110	$	5,100


	Quarter Ended
	March 31		Dec. 31		Sept. 30		June 30		March 31
	2025		2024		2024		2024		2024
Net Charge-offs as a Percentage of Average Loans and Leases:
Commercial:
Commercial and industrial	0.20	%	0.27	%	0.18	%	0.18	%	0.17	%
CRE	1.29		0.66		1.12		1.67		1.73
Commercial construction	(0.02)		(0.02)		(0.01)		(0.05)		(0.02)
Consumer:
Residential mortgage	—		(0.01)		(0.01)		(0.01)		—
Home equity	(0.07)		(0.07)		(0.11)		(0.03)		(0.08)
Indirect auto	2.26		2.33		1.89		1.94		2.26
Other consumer	1.71		1.63		1.73		1.60		1.96
Credit card	5.21		5.10		5.04		5.33		5.54

Total loans and leases	0.60		0.59		0.55		0.58		0.64

Applicable ratios are annualized.

- 6 -

Segment Financial Performance - Preliminary



	Quarter Ended
	March 31		Dec. 31		Sept. 30		June 30		March 31
(Dollars in millions)	2025		2024		2024		2024		2024
Consumer and Small Business Banking(1)
Net interest income (expense)	$	1,426	$	1,390	$	1,346	$	1,291	$	1,267
Net intersegment interest income (expense)	858		1,106		1,184		1,216		1,210
Segment net interest income (expense)	2,284		2,496		2,530		2,507		2,477
Allocated provision for credit losses	328		347		353		308		313


Noninterest income	503		535		506		503		497
Personnel expense	408		406		398		417		405
Amortization of intangibles	39		45		45		45		46
Restructuring charges	—		1		1		1		1

Other direct noninterest expense	275		308		298		265		244
Direct noninterest expense	722		760		742		728		696
Expense allocations	941		981		920		934		890
Total noninterest expense	1,663		1,741		1,662		1,662		1,586
Income (loss) before income taxes	796		943		1,021		1,040		1,075
Provision (benefit) for income taxes	194		226		244		249		259
Segment net income (loss)	$	602	$	717	$	777	$	791	$	816




Wholesale Banking(1)
Net interest income (expense)	$	1,892	$	1,976	$	2,102	$	2,182	$	2,231
Net intersegment interest income (expense)	(299)		(376)		(515)		(559)		(615)
Segment net interest income (expense)	1,593		1,600		1,587		1,623		1,616
Allocated provision for credit losses	131		123		96		142		188


Noninterest income	949		1,038		1,048		987		980
Personnel expense	548		553		569		586		580
Amortization of intangibles	36		39		39		41		42
Restructuring charges	1		4		9		9		7

Other direct noninterest expense	192		206		182		186		176
Direct noninterest expense	777		802		799		822		805
Expense allocations	524		497		437		447		528
Total noninterest expense	1,301		1,299		1,236		1,269		1,333
Income (loss) before income taxes	1,110		1,216		1,303		1,199		1,075
Provision (benefit) for income taxes	222		241		262		239		209
Segment net income (loss)	$	888	$	975	$	1,041	$	960	$	866































Other, Treasury & Corporate(1)(2)
Net interest income (expense)	$	189	$	224	$	154	$	54	$	(126)
Net intersegment interest income (expense)	(559)		(730)		(669)		(657)		(595)
Segment net interest income (expense)	(370)		(506)		(515)		(603)		(721)
Allocated provision for credit losses	(1)		1		(1)		1		(1)


Noninterest income	(60)		(103)		(71)		(6,702)		(31)
Personnel expense	631		628		661		658		645
Amortization of intangibles	—		—		—		3		—
Restructuring charges	37		6		15		23		43

Other direct noninterest expense	739		839		710		860		764
Direct Noninterest Expense	1,407		1,473		1,386		1,544		1,452
Expense Allocations	(1,465)		(1,478)		(1,357)		(1,381)		(1,418)
Total noninterest expense	(58)		(5)		29		163		34
Income (loss) before income taxes	(371)		(605)		(614)		(7,469)		(785)
Provision (benefit) for income taxes	(142)		(202)		(235)		(1,812)		(236)
Segment net income (loss)	$	(229)	$	(403)	$	(379)	$	(5,657)	$	(549)


Total Truist Financial Corporation
Net interest income (expense)	$	3,507	$	3,590	$	3,602	$	3,527	$	3,372
Net intersegment interest income (expense)	—		—		—		—		—
Segment net interest income (expense)	3,507		3,590		3,602		3,527		3,372
Allocated provision for credit losses	458		471		448		451		500
Noninterest income	1,392		1,470		1,483		(5,212)		1,446


Personnel expense	1,587		1,587		1,628		1,661		1,630
Amortization of intangibles	75		84		84		89		88
Restructuring charges	38		11		25		33		51

Other direct noninterest expense	1,206		1,353		1,190		1,311		1,184
Direct Noninterest Expense	2,906		3,035		2,927		3,094		2,953
Expense Allocations	—		—		—		—		—
Total noninterest expense	2,906		3,035		2,927		3,094		2,953
Income (loss) before income taxes	1,535		1,554		1,710		(5,230)		1,365
Provision (benefit) for income taxes	274		265		271		(1,324)		232
Net income (loss) from continuing operations	$	1,261	$	1,289	$	1,439	$	(3,906)	$	1,133

(1)In the first quarter of 2025, deposit expense allocation methodology was enhanced to reflect methodology changes to funds transfer pricing and internal equity allocations. Prior period results have been revised to align to the current allocation methodology, which was not considered material to the Company’s results.

(2)Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure.

- 7 -

Capital Information - Five Quarter Trend


	As of/For the Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
(Dollars in millions, except per share data, shares in thousands)	2025			2024			2024			2024			2024
Selected Capital Information	(preliminary)
Risk-based capital:
Common equity tier 1	$	47,774		$	48,225		$	48,076		$	47,706		$	42,691
Tier 1	53,677			54,128			54,746			54,376			49,361
Total	62,353			62,583			63,349			63,345			58,548
Risk-weighted assets	424,076			418,337			414,828			412,607			421,680
Average quarterly assets for leverage ratio	519,986			515,830			508,280			519,467			522,095
Average quarterly assets for supplementary leverage ratio	619,886			612,764			600,000			608,627			614,238
Risk-based capital ratios:
Common equity tier 1	11.3		%	11.5		%	11.6		%	11.6		%	10.1		%
Tier 1	12.7			12.9			13.2			13.2			11.7
Total	14.7			15.0			15.3			15.4			13.9
Leverage capital ratio	10.3			10.5			10.8			10.5			9.5
Supplementary leverage	8.7			8.8			9.1			8.9			8.0
Common equity per common share	$	44.85		$	43.90		$	44.46		$	42.71		$	38.97

	March 31			Dec. 31			Sept. 30			June 30			March 31
(Dollars in millions, except per share data, shares in thousands)	2025			2024			2024			2024			2024
Calculations of Tangible Common Equity and Related Measures:(1)
Total shareholders’ equity	$	64,635		$	63,679		$	65,696		$	63,827		$	59,053
Less:
Preferred stock	5,907			5,907			6,673			6,673			6,673
Noncontrolling interests	—			—			—			—			232
Intangible assets, net of deferred taxes (including discontinued operations)	18,203			18,274			18,350			18,471			23,198
Tangible common equity	$	40,525		$	39,498		$	40,673		$	38,683		$	28,950







Outstanding shares at end of period (in thousands)	1,309,539			1,315,936			1,327,521			1,338,223			1,338,096
Tangible common equity per common share	$	30.95		$	30.01		$	30.64		$	28.91		$	21.64

Total assets	$	535,899		$	531,176		$	523,434		$	519,853		$	534,959
Less: Intangible assets, net of deferred taxes (including discontinued operations prior to the sale of TIH)	18,203			18,274			18,350			18,471			23,198
Tangible assets	$	517,696		$	512,902		$	505,084		$	501,382		$	511,761

Equity as a percentage of total assets	12.1		%	12.0		%	12.6		%	12.3		%	11.0		%
Tangible common equity as a percentage of tangible assets	7.8			7.7			8.1			7.7			5.7

(1)Tangible common equity is a non-GAAP measure that excludes the impact of intangible assets, net of deferred taxes. This measure is useful for evaluating the performance of a business consistently, whether acquired or developed internally. Truist’s management uses this measure to assess balance sheet risk and shareholder value. These measures are not necessarily comparable to similar measures that may be presented by other companies.

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Selected Mortgage Banking Information & Additional Information


	As of/For the Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
(Dollars in millions, except per share data)	2025			2024			2024			2024			2024
Mortgage Banking Income
Residential mortgage income:
Residential mortgage production revenue	$	19		$	25		$	25		$	24		$	17
Residential mortgage servicing income:


Residential mortgage servicing income before MSR valuation	87			83			80			72			88




Net MSRs valuation	(4)			(5)			(7)			(12)			(15)
Total residential mortgage servicing income	83			78			73			60			73
Total residential mortgage income	102			103			98			84			90
Commercial mortgage income:
Commercial mortgage production revenue	2			12			6			4			5
Commercial mortgage servicing income:


Commercial mortgage servicing income before MSR valuation	4			4			3			7			3



Net MSRs valuation	—			(2)			(1)			17			(1)
Total commercial mortgage servicing income	4			2			2			24			2
Total commercial mortgage income	6			14			8			28			7
Total mortgage banking income	$	108		$	117		$	106		$	112		$	97

Other Mortgage Banking Information
Residential mortgage loan originations	$	3,626		$	4,745		$	3,726		$	3,881		$	2,412
Residential mortgage servicing portfolio:(1)
Loans serviced for others	216,148			218,475			221,143			208,270			210,635
Bank-owned loans serviced	55,120			54,937			54,281			54,903			55,255
Total servicing portfolio	271,268			273,412			275,424			263,173			265,890
Weighted-average coupon rate on mortgage loans serviced for others	3.68		%	3.65		%	3.62		%	3.63		%	3.59		%
Weighted-average servicing fee on mortgage loans serviced for others	0.28			0.28			0.28			0.28			0.28

Additional Information
Brokered deposits(2)	$	27,585		$	28,085		$	27,671		$	27,384		$	30,650

NQDCP income (expense):(3)
Interest income	$	—		$	4		$	1		$	—		$	1
Other income	(6)			(2)			12			4			15
Personnel expense	6			(2)			(13)			(4)			(16)
Total NQDCP income (expense)	$	—		$	—		$	—		$	—		$	—


Common stock prices:
High	$	48.53		$	49.06		$	45.31		$	40.51		$	39.29
Low	39.41			41.08			37.85			35.09			34.23
End of period	41.15			43.38			42.77			38.85			38.98
Banking offices	1,928			1,928			1,930			1,930			1,930
ATMs	2,861			2,901			2,928			2,942			2,947
FTEs(4)	37,529			37,661			37,867			41,368			49,218
FTEs - continuing operations(4)	37,529			37,661			37,867			38,140			39,417

(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)FTEs represents an average for the quarter.

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Selected Items(1)


	Favorable (Unfavorable)
(Dollars in millions, except per share data) Description	Pre-Tax		After-Tax at Marginal Rate		Impact to Diluted EPS(2)
Selected Items
First Quarter 2025
Restructuring charges	$	(38)	$	(29)	$	(0.02)
Fourth Quarter 2024
Restructuring charges	$	(11)	$	(9)	$	(0.01)
FDIC special assessment (regulatory costs)	8		6		—
Third Quarter 2024
Gain on sale of TIH (net income from discontinued operations)	$	36	$	16	$	0.01
Restructuring charges	(25)		(19)		(0.01)
FDIC special assessment (regulatory costs)	16		13		0.01
Second Quarter 2024
Gain on sale of TIH (net income from discontinued operations)	$	6,903	$	4,814	$	3.60
Loss on sale of securities (securities gains (losses))	(6,650)		(5,089)		(3.80)
Charitable contribution (other expense)	(150)		(115)		(0.09)
Restructuring charges ($33 million in restructuring charges and $63 million in net income from discontinued operations)	(96)		(73)		(0.05)
FDIC special assessment (regulatory costs)	(13)		(11)		(0.01)
Accelerated recognition of TIH equity compensation expense (net income from discontinued operations)	(10)		(8)		(0.01)
First Quarter 2024
Accelerated recognition of TIH equity compensation expense (net income from discontinued operations)	$	(89)	$	(68)	$	(0.05)
FDIC special assessment (regulatory costs)	(75)		(57)		(0.04)
Restructuring charges ($51 million in restructuring charges and $19 million in net income from discontinued operations)	(70)		(53)		(0.04)

(1)Includes certain selected items from the consolidated statements of income. A reconciliation of non-GAAP measures is included in the appendix to Truist’s First Quarter 2025 Earnings Presentation.

(2)Diluted EPS impact for individual items may not foot to difference between GAAP diluted and adjusted EPS due to rounding.

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EX-99.3 4 ex993-earningsdeck1q25.htm EX-99.3 ex993-earningsdeck1q25

Fourth Quarter 2024 Earnings Conference Call Bill Rogers – Chairman & CEO Mike Maguire – CFO April 17, 2025 First Quarter 2025 Earnings Conference Call Bill Rog rs - Chairman & CEO Mike Maguire - CFO April 17, 2025

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 ability to weather potential economic weakness and continue capitalizing on opportunities for its shareholders and to navigate the current environment and continue to drive improved performance, (ii) Truist’s ability to execute on strategic growth initiatives; (iii) Truist’s ability to drive positive operating leverage through revenue growth and expense discipline, (iv) Truist’s ability to invest in talent, technology, and risk infrastructure; (v) Truist’s ability to maintain expense, credit, and risk discipline; (vi) Truist’s ability to return capital to shareholders in future periods; (vii) estimates of earning asset growth and fixed asset repricing; (viii) Truist’s future capital levels and their ability to fund growth and capital returns; (ix) guidance with respect to financial performance metrics in future periods, including future levels of adjusted revenue, adjusted expenses, operating leverage, and net charge-off ratio; (x) Truist’s effective tax rate in future periods; and (xi) projections of preferred stock dividends and share repurchases. 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: • evolving political, geopolitical, business, social, economic, and market conditions at local, regional, national, and international levels; • monetary, fiscal, and trade laws or policies, including tariffs or responses to rates of inflation above target levels; • the legal, regulatory, and supervisory environment, including changes in financial-services legislation, regulation, policies, or government officials or other personnel; • our ability to address heightened 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; • evolving accounting standards and policies; • the adequacy of our corporate governance, risk-management framework, compliance programs, and internal controls over financial reporting, including our ability to control lapses or deficiencies in financial reporting, to make appropriate estimates, or to effectively mitigate or manage operational risk; • 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; • 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; • 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; • changes in any of our credit ratings; • our ability to manage any unexpected outflows of uninsured deposits and avoid selling investment securities or other assets at an unfavorable time or at a loss; • negative market perceptions of our investment portfolio or its value; • adverse publicity or other reputational harm to us, our service providers, or our senior officers; • business and consumer sentiment, preferences, or behavior, including spending, borrowing, or saving by businesses or households; • our ability to execute on strategic and operational plans, including accelerating growth, improving profitability, investing in talent, technology, and risk infrastructure, maintaining expense, credit, and risk discipline, and returning capital to shareholders; • 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; • our ability to develop, maintain, and market our products or services or to absorb unanticipated costs or liabilities associated with those products or services; • our ability to innovate, to anticipate the needs of current or future clients, to successfully compete, to increase or hold market share in changing competitive environments, or to deal with pricing or other competitive pressures; • 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 appropriately underwrite loans that we originate or purchase and to otherwise manage credit risk; • our ability to satisfactorily and profitably perform loan servicing and similar obligations; • the credit, liquidity, or other financial condition of our clients, counterparties, service providers, or competitors; • our ability to effectively deal with economic, business, or market slowdowns or disruptions; • the efficacy of our methods or models in assessing business strategies or opportunities or in valuing, measuring, estimating, monitoring, or managing positions or risk; • our ability to keep pace with changes in technology that affect us or our clients, counterparties, service providers, or competitors or to maintain rights or interests in associated intellectual property; • our ability to attract, hire, and retain key teammates and to engage in adequate succession planning; • the performance and availability 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; • our ability to detect, prevent, mitigate, and otherwise manage the risk of fraud or misconduct by internal or external parties; • our ability to manage 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, environmental conditions, and intentional acts of destruction; • natural or other disasters, calamities, and conflicts, including terrorist events, cyber-warfare, and pandemics; • widespread outages of operational, communication, and other systems; • our ability to maintain appropriate corporate responsibility practices, oversight, and disclosures; • 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; and • other assumptions, risks, or uncertainties described in the Risk Factors (Item 1A), Management’s Discussion and Analysis of Financial Condition and Results of Operations (Item 7), or the Notes to the Consolidated Financial Statements (Item 8) in our Annual Report on Form 10-K or described in any of the Company’s subsequent quarterly or current 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 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: Adjusted Net income Available to Common Shareholders and Adjusted Diluted Earnings Per Share - Adjusted net income available to common shareholders and adjusted diluted earnings per share are non-GAAP in that these measures exclude selected items, net of tax. 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, as well as demonstrate the effects of significant gains and charges. Adjusted Efficiency Ratio, Adjusted Fee Income, and Related Measures - The adjusted efficiency ratio is non-GAAP in that it excludes securities gains and losses, amortization of intangible assets, restructuring charges, and other selected items. Adjusted revenue and adjusted noninterest expense are related measures used to calculate the adjusted efficiency ratio. Additionally, the adjusted fee income ratio is non-GAAP in that it excludes securities gains and losses and other selected items, and is calculated using adjusted revenue and adjusted noninterest income. Adjusted revenue and adjusted noninterest income exclude securities gains and losses and other selected items. Adjusted noninterest expense excludes restructuring charges, and other selected items. Truist’s management calculated these measures based on Truist’s continuing operations. 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, as well as demonstrate the effects of significant gains and charges. 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. Adjusted pre-provision net revenue is a non-GAAP measure that additionally excludes securities gains (losses), restructuring charges, and other selected items. Truist’s management calculated these measures based on Truist’s continuing operations. Truist’s management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods. Tangible Common Equity and Related Measures - 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. 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 – Grew average loans and deposits on a linked-quarter basis – Maintained expense discipline and focus on improving profitability – Delivered strong asset quality metrics – Repurchased $500 million of common stock, targeting up to $750 million in 2Q25 dependent upon market conditions and other factors – Maintained strong capital and liquidity position – Well positioned for a wide array of economic environments 1Q25 key takeaways Reported solid 1Q25 results By the numbers – Executing on strategic growth initiatives – Driving positive operating leverage through revenue growth and expense discipline – Investing in talent, technology, and risk infrastructure – Maintaining credit and risk discipline – Returning capital to shareholders Focused on accelerating performance in 2025 Adjusted metrics exclude selected items; see appendix for non-GAAP reconciliations Current quarter regulatory capital information is preliminary $1.2 billion Net income available to common shareholders $0.87 Diluted EPS 59.3% Efficiency ratio +1.1% Linked-quarter average loans +0.6% Linked-quarter average deposits 56.4% Adjusted efficiency ratio 1.58% ALLL 11.3% CET1 ratio

6 – Increased consumer loan production $3.7 billion, or 47% year-over- year with favorable mix of new production driving higher spreads than existing portfolio spreads – Delivering on our Premier Banking strategy with deposit and lending production per banker up 23% and 46% year-over-year – Deepened client relationships through financial planning as financial plans per Premier banker delivered to clients increased 14% linked- quarter and 15% year-over-year – Added more than 39k net new checking accounts during 1Q25, up 45k linked-quarter and 11k year-over-year Business segment update Consumer & Small Business Banking – Increased average wholesale loans by $2.3 billion, or 1.3% linked quarter driven primarily by greater production with new and existing clients – Integrated Commercial and Corporate Banking under a new leader; significant hiring to support talent buildout to capture more of the middle market – Implemented new digital interface for Truist Wealth clients – Continued Payments momentum: double-digit growth rate in treasury management revenue year-over-year; meaningful improvement in client satisfaction scores; launched new real-time payments capabilities Wholesale Banking

7 76 80 83 85 83 1Q24 2Q24 3Q24 4Q24 1Q25 33% 34% 37% 39% 40% 1Q24 2Q24 3Q24 4Q24 1Q25 28 32 34 36 35 1Q24 2Q24 3Q24 4Q24 1Q25 Digital share of new-to-bank clients Mobile app users1 Digital transactions2 Zelle transactions (in millions) 4.8 4.9 5.0 5.1 5.2 1Q24 2Q24 3Q24 4Q24 1Q25 (in millions) Elevating the digital client journey Driving digital growth – Experience enhancements and performance marketing drove 13% year-over-year growth in digital account sales – New-to-bank clients acquired through digital channel sales grew 23% year-over-year, contributing 40% of total new-to-bank clients in 1Q25 Delivering on client demand – Digital funded loan amounts grew 31% year-over-year, with Gen Z loan growth at 47% +700 bps +6% +10% +24% Empowering clients efficiently – Digital clients increased 5% year-over-year and surpassed 7.3 million with mobile driving 82% of total logins – Digital payments drove efficiency with more than 80% of transactions occurring in self-service channels 1 Active users reflect clients that have logged in using the mobile app over the prior 90 days 2 Digital transactions include transfers, Zelle, bill payments, mobile deposits, ACH, and wire transfers (in millions)

8 Note: All data points are taxable-equivalent, where applicable Current quarter regulatory capital information is preliminary Non-GAAP and adjusted metrics, including ROTCE, exclude selected items. See appendix for non-GAAP reconciliations. $ in millions, except per share data GAAP / Unadjusted 1Q25 4Q24 1Q24 Revenue $4,947 $5,111 $4,871 Expense $2,906 $3,035 $2,953 PPNR $2,041 $2,076 $1,918 Net income available to common shareholders $1,157 $1,216 $1,091 Diluted EPS $0.87 $0.91 $0.81 Net interest margin 3.01% 3.07% 2.88% ROTCE 12.3% 12.9% 16.3% Efficiency ratio 59.3% 60.0% 61.3% NCO ratio 0.60% 0.59% 0.64% CET1 ratio 11.3% 11.5% 10.1% Change vs. Adjusted 1Q25 4Q24 1Q24 Revenue $4,948 (3.2)% 1.6% Expense $2,868 (5.4)% 1.5% PPNR $2,080 —% 1.8% Efficiency ratio 56.4% (130) bps 20 bps Performance highlights Earnings – 1Q25 net income available to common shareholders of $1.2 billion, or $0.87 per share – Includes $0.02 per share of after-tax restructuring charges Revenue – Revenue declined 3.2% vs. 4Q24 primarily due to lower net interest income (two fewer days) and lower other income Expenses – Adjusted noninterest expense declined 5.4% vs. 4Q24, primarily driven by lower other expense, professional fees and outside processing, and equipment expense Credit and capital – Asset quality and capital metrics remained strong

9 $309 $306 $303 $303 $306 $188 $187 $183 $182 $184 $121 $120 $120 $121 $123 6.38% 6.44% 6.41% 6.12% 5.97% Commercial LHFI Consumer and card LHFI Loans HFI yield (%) 1Q24 2Q24 3Q24 4Q24 1Q25 Average loans and leases HFI May not foot due to rounding Portfolio assignment based off loan purpose 5-quarter trend ($ in billions) Loan portfolio composition $306B Average loans 51% Commercial and industrial 6% CRE 3% Commercial construction 18% Residential mortgage 3% Home equity 8% Indirect auto 9% Other consumer 2% Credit card Average loan balances up 1.1% linked quarter driven by growth in C&I, residential mortgage, and indirect auto

10 Average deposits $389 $388 $384 $390 $280 $280 $278 $282 $286 $109 $108 $106 $108 $106 2.03% 2.09% 2.08% 1.89% 1.79% Interest-bearing deposits Noninterest-bearing deposits Total deposit cost (%) 1Q24 2Q24 3Q24 4Q24 1Q25 May not foot due to rounding 1 Cumulative beta calculations are based on change in average total deposit or interest-bearing deposit cost divided by the change in average Fed Funds from 4Q21 (up rate) and from 2Q24 (down rate) Deposit mix $392B Average deposits 35% Money market and savings 10% Time deposits 28% Interest checking 27% DDA 53% 54% 14% 40% 43% 38% 39% 14% 29% 30% Interest-bearing deposit beta Total deposit beta 1Q24 2Q24 3Q24 4Q24 1Q25 Up rate Down rate 5-quarter cumulative deposit beta trend1 5-quarter trend ($ in billions) $392 Average deposits up modestly linked quarter

11 1Q25 avg. balances Fixed rate loans Securities Active receive-fixed $3,425 $3,580 $3,657 $3,641 $3,555 2.88% 3.02% 3.12% 3.07% 3.01% Net interest income TE Net interest margin (%) 1Q24 2Q24 3Q24 4Q24 1Q25 Fwd. starting receive-fixed Pay-fixed < 3yrs. – Receive-fixed swaps designed to protect NII from lower short-end rates over the next few years (designated against commercial loans and long-term debt) – Pay-fixed swaps designed to protect the economic value of the balance sheet and to manage future capital volatility (designated against AFS securities) Net interest income and net interest margin Fixed rate asset repricing summary ($ in billions) Swap portfolio overview ($ in billions) 1 Investment securities yield excluding the impact of swaps 2 Runoff reflects contractual maturities and expected prepayments of investment securities and fixed rate loans that will be reinvested at higher interest rates based on the current forward curve 3 Excludes fixed rate loan portfolios with shorter maturities 1 Average yield ($15) 3/31/25 $49 $35 Total wtd. avg. rate = 3.47% ($15) Total wtd. avg. rate = 3.42% Pay-fixed > 3yrs. 5-quarter net interest income and net interest margin trend ($ in millions) $124 $135 $10 $32 2.92%1 3.18%1 5.46% 6.32% – Net interest income expected to increase ~3% year-over-year vs. 2024 driven primarily by low single digit loan growth, fixed rate asset repricing, and three 25 bps reductions in the Fed Funds rate – Benefit from fixed rate asset repricing is expected to be 40 to 50 bps lower than prior guidance based on lower medium-term interest rates Rest of year runoff2 ~ NII decline in the first quarter largely impacted by two fewer days

12 $318 $396 $326 $356 $345 $344 $323 $262 $273 $225 $237 $230 $224 $231 $220 Noninterest income Current trend ($ in millions) Wealth Investment banking & trading Service charges Card and payments All other noninterest income All other noninterest income includes mortgage banking income, lending related fees, operating lease income, and other income Vs. linked quarter – Noninterest income declined 5.3%, primarily driven by lower other income partially offset by higher investment banking and trading revenue – The decline in other income was related to lower income from certain equity and other investments – The increase in investment banking and trading revenue was driven by strong debt capital markets activity partially offset by lower trading income Vs. like quarter – Noninterest income declined 3.7% driven by: – Lower investment banking and trading income due to lower M&A and trading activity – Lower wealth management income due in part to the sale of Sterling Capital Management in July 2024 Securities loss ($1) 1Q24 4Q24 1Q25 $1,446 $1,470 $1,392 ($1) Noninterest income impacted by lower other income

13 $2,827 $3,032 $2,868 Noninterest expense Adjusted noninterest expense is a non-GAAP measure that excludes an FDIC special assessment and restructuring charges. See appendix for non-GAAP reconciliation. Current trend ($ in millions) Adj. noninterest expense (includes amortization) Restructuring charges FDIC special assessment Vs. linked quarter – Adjusted noninterest expense declined 5.4%, primarily driven by lower other expense, professional fees and outside processing, and equipment expense – Other expense decreased due to lower operating losses and lower insurance expense – Professional fees and outside processing expense decreased due to lower technology and risk infrastructure costs Vs. like quarter – Adjusted noninterest expense increased 1.5%, primarily driven by higher professional fees and outside processing partially offset by lower personnel expense – Professional fees and outside processing expense increased due to higher technology and risk infrastructure costs 1Q24 4Q24 1Q25 ($8) $11 $51 $75 $38 $2,953 $3,035 $2,906 Expenses remain well controlled

14 0.45% 0.46% 0.48% 0.47% 0.48% 1Q24 2Q24 3Q24 4Q24 1Q25 $500 $451 $448 $471 $458 1Q24 2Q24 3Q24 4Q24 1Q25 $490 $442 $418 $453 $454 0.64% 0.58% 0.55% 0.59% 0.60% NCO NCO ratio 1Q24 2Q24 3Q24 4Q24 1Q25 Asset quality $4,803 $4,808 $4,842 $4,857 $4,870 ALLL ALLL ratio ALLL / NCO 1Q24 2Q24 3Q24 4Q24 1Q25 2.4x 1.56% 2.7x 1.57% 1.60% 2.9x Net charge-offs ($ in millions) Nonperforming loans / LHFI ($ in millions) 1.59% 2.7x ALLL ($ in millions) Provision for credit losses ($ in millions) Asset quality remained strong 1.58% 2.6x

15 7.0% 9.7% 9.6% 1Q24 4Q24 1Q25 10.1% 11.5% 11.3% 1Q24 4Q24 1Q25 – CET1 ratio decreased 20 bps vs. 12/31/24 as capital returned to shareholders, an increase in RWA, and the final CECL phase-in were partially offset by current quarter earnings – CET1 ratio including AOCI decreased 10 bps vs. 12/31/24 – Returned $1.2 billion of capital to shareholders in 1Q25 through our common stock dividend and $500 million of share repurchases – AOCI related to investment securities and pension decreased $500 million to $6.8 billion at 3/31/25 vs. $7.3 billion at 12/31/24 – Projected future earnings and $500 million2,3 of annual AOCI accretion create significant capacity for growth and capital return 9.9% Capital Capital actions and commentary $1.1 $0.6 $0.6 $0.6 $0.6 $0.6 CET1 ratio CET1 ratio (including AOCI)1 Current quarter regulatory capital information is preliminary 1 Includes the impact of AOCI related to securities and pension, as well as related changes to deferred tax 2 Post-tax AOCI impact based on current interest rates as of 3/31/25 and internal estimates. Includes AOCI for securities and pension. Excludes cash flow hedges, which are not included in capital ratios under Basel III impacts. 3 Pension AOCI held constant but can change with fluctuations in financial markets Well positioned for a wide array of economic environments

16 13.9% 2Q25 and 2025 outlook All data points are taxable-equivalent, where applicable Adjusted expenses exclude restructuring charges and other selected items Adjusted revenue excludes securities gains (losses) and other selected items See non-GAAP reconciliations in the appendix 1Q25 actuals 2Q25 outlook (compared to 1Q25) Adjusted revenue (TE): $4.9 billion Up 1 to 2% Adjusted expenses: $2.9 billion (includes amortization of intangibles) Up 2 to 3% (includes amortization of intangibles) Share repurchases: $500 million Up to $750 million Full year 2024 actuals Full year 2025 outlook (compared to FY 2024) Adjusted revenue (TE): $20.1 billion Up 1.5 to 2.5% Adjusted expenses: $11.7 billion (includes amortization of intangibles) Up ~1% (includes amortization of intangibles) 2025 implied operating leverage: 50 to 150 bps Net charge-off ratio: 59 bps ~60 bps 2025 tax rate: 17% effective; 20% FTE Updating outlook to reflect lower investment banking and trading activity and lower medium-term interest rates

17 Key takeaways Executing on strategic growth initiatives Driving positive operating leverage through revenue growth and expense discipline Investing in talent, technology, and risk infrastructure Maintaining credit and risk discipline Returning capital to shareholders 2025 strategic priorities

Appendix

A-1 – Net income of $602 million, compared to $717 million in the prior quarter – Net interest income of $2.3 billion decreased by $212 million, or 8.5%, primarily driven by lower funding credit on deposits – Average loans of $128 billion increased 0.8% primarily driven by higher indirect auto and residential mortgage – Average deposits of $212 billion increased 0.3% primarily driven by money market & savings – Provision for credit losses decreased $19 million, or 5.5%, primarily driven by lower reserve build compared to the prior quarter – Noninterest income of $503 million decreased $32 million, or 6.0%, primarily driven by lower service charges, card and payment related fees due to seasonality and fewer days, and other income – Noninterest expense of $1.7 billion decreased $78 million, or 4.5%, primarily driven by lower enterprise technology support expenses, operating charge-offs, amortization of intangibles, pension, and equipment expenses – Debit and credit card spend decreased 5.0% due to normal seasonality with higher spend in the prior quarter, however volumes increased 2.8% vs. 1Q24 – Digital transaction share increased 140 bps with continued momentum moving transactions to low-friction, higher efficiency channels Consumer and Small Business Banking (1) Excludes loans held for sale (2) Digital sales defined as products opened through digital applications (3) Digital transactions include transfers, Zelle, bill payments, mobile deposits, ACH, and wire transfers Commentary reflects linked quarter comparisons Metrics Commentary Income statement ($ MM) 1Q25 vs. 4Q24 vs. 1Q24 Net interest income $2,284 $(212) $(193) Allocated provision for credit losses 328 (19) 15 Noninterest income 503 (32) 6 Noninterest expense 1,663 (78) 77 Segment net income $602 $(115) $(214) Balance sheet ($ B) Average loans(1) $128 $1.0 $2.3 Average deposits 212 0.6 (1.4) Other key metrics Net new checking accounts (k) 39 45 11 Digital sales as of % of total(2) 32.1% 60 bps 750 bps Digital transactions as a % of total(3) 68.5% 140 bps 390 bps Debit/credit card sales volumes ($ B) $28 (5.0) % 2.8% 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 – Net income of $888 million, compared to $975 million in the prior quarter – Net interest income of $1.6 billion decreased $7 million, or 0.4% – Average loans of $178 billion increased $2.3 billion, or 1.3%, primarily related to an increase in C&I balances – Average deposits of $145 billion decreased $0.6 billion, or 0.4%, related to expected seasonal outflows – Provision for credit losses of $131 million increased $8 million, or 6.5%, largely driven by growth in loan balances – Noninterest income of $949 million decreased $89 million, or 8.6%, primarily driven by timing/seasonality of project-based other income items – Noninterest expense of $1.3 billion in-line with 4Q24 expense – Total client assets decreased $4.1 billion, or 1.2% vs. 4Q24 primarily due to market driven declines in equities, which were partially offset by favorable movements in fixed-income values, as well as positive net asset flow Metrics Commentary Income statement ($ MM) 1Q25 vs. 4Q24 vs. 1Q24 Net interest income $1,593 $(7) $(23) Allocated provision for credit losses 131 8 (57) Noninterest income 949 (89) (31) Noninterest expense 1,301 2 (32) Segment net income $888 $(87) $22 Balance sheet ($ B) Average loans(1) $178 $2.3 $(4.4) Average deposits 145 (0.6) 2.7 Other key metrics ($ B) Total client assets $338 $(4.1) $(44) Represents Commercial & Corporate Banking, Investment Banking & Capital Markets, CRE, Wholesale Payments, and Wealth

A-3 Preferred dividend 2Q25 3Q25 4Q25 1Q26 Estimated dividends based on projected interest rates and amounts outstanding ($ MM) $60 $104 $59 $104 Estimates assume forward-looking interest rates as of 3/31/25. Actual interest rates could vary significantly causing dividend payments to differ from the estimates shown above.

A-4 Quarter Ended March 31 Dec. 31 Sept. 30 June 30 March 31 2025 2024 2024 2024 2024 Net Income available to common shareholders from continuing operations $ 1,157 $ 1,229 $ 1,333 $ (3,983) $ 1,027 Securities (gains) losses 1 1 — 5,089 — Charitable contribution — — — 115 — FDIC special assessment — (6) (13) 11 57 Adjusted net income available to common shareholders from continuing operations(1) $ 1,158 $ 1,224 $ 1,320 $ 1,232 $ 1,084 Net Income available to common shareholders from discontinued operations $ — $ (13) $ 3 $ 4,809 $ 64 Accelerated TIH equity compensation expense — — — 8 68 Gain on sale of TIH — — (16) (4,814) — Adjusted net income available to common shareholders from discontinued operations(1) $ — $ (13) $ (13) $ 3 $ 132 Net income available to common shareholders $ 1,157 $ 1,216 $ 1,336 $ 826 $ 1,091 Adjusted net income available to common shareholders(1) 1,158 1,211 1,307 1,235 1,216 Weighted average shares outstanding - diluted (GAAP net income (loss) available to common shareholders)(2) 1,324,339 1,333,701 1,349,129 1,338,149 1,346,904 Weighted average shares outstanding - diluted (adjusted net income available to common shareholders)(2) 1,324,339 1,333,701 1,349,129 1,349,953 1,346,904 Diluted EPS from continuing operations(2) $ 0.87 $ 0.92 $ 0.99 $ (2.98) $ 0.76 Diluted EPS from continuing operations - adjusted(1)(2) 0.87 0.92 0.98 0.91 0.80 Diluted EPS from discontinued operations(2) — (0.01) — 3.60 0.05 Diluted EPS from discontinued operations - adjusted(1)(2) — (0.01) (0.01) — 0.10 Diluted EPS(2) 0.87 0.91 0.99 0.62 0.81 Diluted EPS - adjusted(1)(2) 0.87 0.91 0.97 0.91 0.90 Non-GAAP reconciliations Adjusted Net Income and Diluted EPS $ in millions, except per share data, shares in thousands (1) Adjusted net income available to common shareholders and adjusted diluted earnings per share are non-GAAP in that these measures exclude selected items, net of tax. 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, as well as demonstrate the effects of significant gains and charges. Diluted EPS impact for individual items may not foot to difference between GAAP diluted and adjusted EPS due to rounding. (2) For periods ended with a net loss available to common shareholders from continuing operations, the calculation of GAAP diluted EPS uses the basic weighted average shares outstanding. Adjusted diluted EPS calculations include the impact of outstanding equity-based awards for all periods.

A-5 Non-GAAP reconciliations Efficiency ratio and fee income ratio from continuing operations $ in millions (1) Revenue is defined as net interest income plus noninterest income (2) The adjusted efficiency ratio is non-GAAP in that it excludes securities gains and losses, amortization of intangible assets, restructuring charges, and other selected items. Adjusted revenue and adjusted noninterest expense are related measures used to calculate the adjusted efficiency ratio. Additionally, the adjusted fee income ratio is non-GAAP in that it excludes securities gains and losses and other selected items, and is calculated using adjusted revenue and adjusted noninterest income. Adjusted revenue and adjusted noninterest income exclude securities gains and losses and other selected items. Adjusted noninterest expense excludes restructuring charges, and other selected items. Truist’s management calculated these measures based on Truist’s continuing operations. 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, as well as demonstrate the effects of significant gains and charges. Quarter Ended March 31 Dec. 31 Sept. 30 June 30 March 31 2025 2024 2024 2024 2024 Efficiency ratio numerator - noninterest expense - unadjusted $ 2,906 $ 3,035 $ 2,927 $ 3,094 $ 2,953 Restructuring charges, net (38) (11) (25) (33) (51) Charitable contribution — — — (150) — FDIC special assessment — 8 16 (13) (75) Adjusted noninterest expense including amortization of intangibles 2,868 3,032 2,918 2,898 2,827 Amortization of intangibles (75) (84) (84) (89) (88) Efficiency ratio numerator - adjusted noninterest expense excluding amortization of intangibles(2) $ 2,793 $ 2,948 $ 2,834 $ 2,809 $ 2,739 Fee income numerator - noninterest income - unadjusted $ 1,392 $ 1,470 $ 1,483 $ (5,212) $ 1,446 Securities (gains) losses, net 1 1 — 6,650 — Fee income numerator - adjusted noninterest income(2) $ 1,393 $ 1,471 $ 1,483 $ 1,438 $ 1,446 Efficiency ratio and fee income ratio denominator - revenue(1) - unadjusted $ 4,899 $ 5,060 $ 5,085 $ (1,685) $ 4,818 Taxable equivalent adjustment 48 51 55 53 53 Securities (gains) losses 1 1 — 6,650 — Efficiency ratio and fee income ratio denominator - adjusted revenue(1)((2) $ 4,948 $ 5,112 $ 5,140 $ 5,018 $ 4,871 Efficiency ratio - unadjusted 59.3 % 60.0 % 57.5 % NM 61.3 % Efficiency ratio - adjusted(2) 56.4 57.7 55.2 56.0 56.2 Fee income ratio - unadjusted 28.4 % 29.0 % 29.2 % NM 30.0 % Fee income ratio - adjusted(2) 28.2 28.8 28.9 28.7 29.7

A-6 Non-GAAP reconciliations Pre-provision net revenue $ in millions (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. Adjusted pre-provision net revenue is a non-GAAP measure that additionally excludes securities gains (losses), restructuring charges, and other selected items. Truist’s management calculated these measures based on Truist’s continuing operations. Truist’s management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods. Quarter Ended March 31 Dec. 31 Sept. 30 June 30 March 31 2025 2024 2024 2024 2024 Net income from continuing operations $ 1,261 $ 1,289 $ 1,439 $ (3,906) $ 1,133 Provision for credit losses 458 471 448 451 500 Provision for income taxes 274 265 271 (1,324) 232 Taxable-equivalent adjustment 48 51 55 53 53 Pre-provision net revenue(1) $ 2,041 $ 2,076 $ 2,213 $ (4,726) $ 1,918 Restructuring charges, net 38 11 25 33 51 Charitable contribution — — — 150 — FDIC special assessment — (8) (16) 13 75 Securities (gains) losses 1 1 — 6,650 — Pre-provision net revenue - adjusted(1) $ 2,080 $ 2,080 $ 2,222 $ 2,120 $ 2,044

A-7 Non-GAAP reconciliations Calculations of tangible common equity and related measures $ in millions, except per share data, shares in thousands (1) 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. These measures are not necessarily comparable to similar measures that may be presented by other companies. As of / Quarter Ended March 31 Dec. 31 Sept. 30 June 30 March 31 2025 2024 2024 2024 2024 Common shareholders’ equity $ 58,728 $ 57,772 $ 59,023 $ 57,154 $ 52,148 Less: Intangible assets, net of deferred taxes (including discontinued operations) 18,203 18,274 18,350 18,471 23,198 Tangible common shareholders’ equity(1) $ 40,525 $ 39,498 $ 40,673 $ 38,683 $ 28,950 Outstanding shares at end of period 1,309,539 1,315,936 1,327,521 1,338,223 1,338,096 Common shareholders’ equity per common share $ 44.85 $ 43.90 $ 44.46 $ 42.71 $ 38.97 Tangible common shareholders’ equity per common share(1) 30.95 30.01 30.64 28.91 21.64 Net income available to common shareholders $ 1,157 $ 1,216 $ 1,336 $ 826 $ 1,091 Plus: amortization of intangibles, net of tax (including discontinued operations) 57 64 64 68 84 Tangible net income available to common shareholders(1) $ 1,214 $ 1,280 $ 1,400 $ 894 $ 1,175 Average common shareholders’ equity $ 58,125 $ 57,754 $ 58,667 $ 54,863 $ 52,167 Less: Average intangible assets, net of deferred taxes (including discontinued operations) 18,247 18,317 18,399 20,406 23,244 Average tangible common shareholders’ equity(1) $ 39,878 $ 39,437 $ 40,268 $ 34,457 $ 28,923 Return on average common shareholders’ equity 8.1 % 8.4 % 9.1 % 6.1 % 8.4 % Return on average tangible common shareholders’ equity(1) 12.3 12.9 13.8 10.4 16.3