Truist Financial Corporation · NYSE:TFC
Truist Financial — Q3 2026 Earnings Presentation
25 slides from Truist Financial's earnings presentation, Oct 16, 2026
Slide 1: Third Quarter 2026 Earnings Conference Call
Third Quarter 2026 Earnings Conference Call Mike Lyons - President and CEO Mike Maguire - CFO October 16, 2026
Slide 2: Forward-looking statements
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 fact
Slide 3: Non-GAAP financial information
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 its anal
Slide 4: 3Q26 key takeaways
3Q26 key takeaways Solid 3Q26 adjusted results; reallocating capital and resources to drive higher growth, profitability, and returns 3Q26 results reflect strategic actions(1) 3Q26 by the numbers (Reported / adjusted(2)) – Delivered solid results – Continued momentum in client deposit growth $0.56 /
Slide 5: Update on strategic review of loan portfolios
Update on strategic review of loan portfolios Portfolio actions sharpen strategic focus and enhance risk profile Completed RAC loan sale and AFS securities repositioning Signed agreement to sell LightStream(1) – Sold $5.5 billion RAC auto loan portfolio for $5.2 billion – Signed agreement to sell $7
Slide 6: Delivered solid results excluding strategic actions
Delivered solid results excluding strategic actions Strategic actions impacted 3Q26 diluted EPS by $0.60 Select financial highlights Strategic actions impacting 3Q26 results(1,2) – Net income available to common shareholders was 3Q26 RAC AFS securities Net 3Q26 $684 million or $0.56 per diluted shar
Slide 7: Balance sheet summary
Balance sheet summary Strategic actions enhance balance sheet composition Select highlights Average balances ($ MM) 3Q26 vs. 2Q26 ($ change) vs. 2Q26 (% change) vs. 3Q25 ($ change) vs. 3Q25 (% change) Total loans HFI $325,523 $(3,639) (1.1)% $5,030 1.6% Investment securities(1) $118,433 $295 0.2% $(
Slide 8: Average loans and leases HFI
Average loans and leases HFI Loan trends reflect optimization of lending portfolios 5-quarter trend Average loan roll forward ($ in billions) ($ in billions) $0.8 $325 $327 $329 $326 $329 $320 $130 $128 $128 $127 $129 $326 ($2.7) ($1.7) $195 $199 $201 $199 $192 6.00% 5.87% 5.71% 5.68% 5.66% (2) 3Q25
Slide 9: Average deposits and borrowings
Average deposits and borrowings Higher client deposits drove 3.6% growth in average deposits, while total borrowings decreased 6.6% vs. 3Q25 5-quarter trend Deposit mix by segment ($ in billions) ($ in billions) $411 $397 $396 $399 $405 $411 $399 $405 $397 $396 $40 $35 $37 $39 $38 $104 $103 $106 $10
Slide 10: Net interest income and net interest margin
Net interest income and net interest margin 5-quarter net interest income and net interest margin trend NII outlook ($ in millions) – Expect 4Q26 net interest income of $3.65 to $3.7 billion $137 – 4Q26 outlook reflects: – $125 million reduction from the RAC loan sale – $40 million increase from the
Slide 11: Noninterest income
Noninterest income Wealth management was a key driver of adjusted growth vs. 3Q25 Noninterest income details Vs. linked quarter ($ in millions) – Noninterest income decreased 95% primarily driven by $1.4 billion of Categories 3Q26 vs. 2Q26 vs. 3Q25 securities losses on the sale of certain AFS securi
Slide 12: Noninterest expense
Noninterest expense Noninterest expense growth remains well controlled Noninterest expense details Vs. linked quarter ($ in millions) – Noninterest expense increased 1.6% primarily driven by: Categories 3Q26 vs. 2Q26 vs. 3Q25 – higher personnel expense, which includes $40 million of costs associated
Slide 13: Asset quality
Asset quality Asset quality remains strong; RAC loan sale further strengthens credit risk profile NCO and NCO ratio Provision for credit losses ($ in millions) ($ in millions) $512 $479 $629 $436 $395 $491 $328(2) $470 0.77% $385 $414 0.61% $312(1) $(253) 0.57% 0.48% 0.50% 0.38%(1) 3Q25 4Q25 1Q26 2Q
Slide 14: 4Q26 outlook
4Q26 outlook Outlook excludes impact of potential strategic actions 3Q26 actuals 4Q26 outlook ~$5.35 billion Revenue-TE(1): $3.8 billion (reflects $125 million reduction from RAC loan sale and $40 million increase from AFS securities repositioning) Noninterest expense: $3.1 billion Up 2.5% Net charg
Slide 15: Appendix
Appendix
Slide 16: Segment results
Segment results 3Q26 CSBB segment results 3Q26 Wholesale segment results 3Q26 vs. 2Q26 vs. 3Q25 3Q26 vs. 2Q26 vs. 3Q25 Income statement ($ MM) Income statement ($ MM) Net interest income 2,717 4.3 % 12.2 % Net interest income $1,561 1.9 % (1.1)% Allocated provision for credit losses (299) (197.4)% (
Slide 17: Preferred dividend
Preferred dividend 4Q26 1Q27 2Q27 3Q27 Estimated dividends based on projected interest rates $42 $112 $43 $112 and amounts outstanding ($ in millions) Estimates assume forward-looking interest rates as of 9/30/2026. Actual interest rates and amounts outstanding could vary significantly causing divid
Slide 18: Non-GAAP reconciliations: Adjusted net income and EPS
Non-GAAP reconciliations Adjusted net income and adjusted diluted EPS $ in millions, except per share data, shares in thousands Quarter Ended Sept. 30 2026 Net Income (loss) available to common shareholders (a) $ 684 Gross adjustments: Securities (gains) losses 1,447 Reserve recapture for RAC loan s
Slide 19: Non-GAAP reconciliations: Net interest income and NIM
Non-GAAP reconciliations Net interest income and NIM $ in millions Quarter Ended Sept. 30 June 30 March 31 Dec. 31 Sept. 30 2026 2026 2026 2025 2025 Net interest income $ 3,663 $ 3,621 $ 3,599 $ 3,700 $ 3,629 Taxable-equivalent adjustment 44 46 45 49 51 Net interest income - TE (1) (a) $ 3,707 $ 3,6
Slide 20: Non-GAAP reconciliations: Adjusted revenue
Non-GAAP reconciliations Adjusted revenue $ in millions Quarter Ended Sept. 30 2026 Revenue(1) $ 3,747 Taxable equivalent adjustment 44 Revenue - TE(1)(2) $ 3,791 Securities (gains) losses 1,447 Loss on RAC loan sale 66 Adjusted revenue - TE(1)(2) $ 5,304 (1) Revenue is defined as net interest incom
Slide 21: Non-GAAP reconciliations: Adjusted PPNR
Non-GAAP reconciliations Adjusted pre-provision net revenue $ in millions Quarter Ended Sept. 30 2026 Net income $ 799 Provision (benefit) for credit losses (253) Provision for income taxes 96 Taxable-equivalent adjustment 44 PPNR(1) $ 686 Securities (gains) losses 1,447 RAC loan sale impact 106 Adj
Slide 22: Non-GAAP reconciliations: Tangible book value per share
Non-GAAP reconciliations Tangible book value per common share and tangible common equity $ in millions, except per share data, shares data in thousands As of / Quarter Ended Sept. 30 June 30 Sept. 30 2026 2026 2025 Total shareholders' equity $ 61,472 $ 64,095 $ 65,646 Preferred stock (5,411) (5,411)
Slide 23: Non-GAAP reconciliations: Return on average tangible common equity
Non-GAAP reconciliations Return on average tangible common equity ratios $ in millions, except per share data, shares data in thousands As of / Quarter Ended Sept. 30 2026 Net income available to common shareholders (a) $ 684 Amortization of intangibles 62 Applicable income taxes related to amortiza
Slide 24: Non-GAAP reconciliations: Adjusted return on assets
Non-GAAP reconciliations Adjusted return on assets $ in millions As of / Quarter Ended Sept. 30 2026 Net income (a) $ 799 Gross adjustments: Securities (gains) losses 1,447 Reserve recapture for RAC loan sale (581) RAC loan sale impact 106 Applicable income taxes related to adjustments:(1) Securitie
Slide 25: Non-GAAP reconciliations: Net charge-offs, excluding RAC
Non-GAAP reconciliations Net charge-offs, excluding RAC $ in millions Quarter Ended Sept. 30 2026 Net charge-offs (a) $ 629 Total net charge-offs related to RAC (317) Net charge-offs, excluding RAC (b) $ 312 Average loans and leases (c) $ 325,523 Total average loans related to RAC (3,643) Average lo