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