`
News Release |
Truist reports third quarter 2026 results |
Solid 3Q26 results; simplifying and reallocating resources to drive stronger growth, profitability, and returns Diluted EPS of $0.56; adjusted diluted EPS(1) of $1.16, up 12% compared to 3Q25 |
3Q26 Key Financial Data 3Q26 Performance Highlights(3) |
(Dollars in billions, except per share data) | 3Q26 | 2Q26 | 3Q25 |
Summary Income Statement | |||
Net interest income | $ 3.66 | $ 3.62 | $ 3.63 |
Net interest income - TE(1) | 3.71 | 3.67 | 3.68 |
Noninterest income | 0.08 | 1.64 | 1.56 |
Total revenue | 3.75 | 5.27 | 5.19 |
Total revenue - TE(1) | 3.79 | 5.31 | 5.24 |
Noninterest expense | 3.11 | 3.06 | 3.01 |
Net income | 0.80 | 1.55 | 1.45 |
Net income available to common shareholders | 0.68 | 1.52 | 1.35 |
Adjusted net income available to common shareholders(1)
1.42 1.52 1.35
Third quarter results reflect the completion of the Regional Acceptance Corporation (RAC) loan sale and the subsequent AFS securities repositioning
Signed an agreement on October 14, 2026, to sell $7.7 billion of unsecured consumer loans representing substantially all assets of LightStream, our unsecured lending platform, to Carlyle Group Inc.
Adjusted net income available to common shareholders(1) of
$1.4 billion, resulting in adjusted diluted EPS(1) of $1.16 per share and adjusted ROTCE(1) of 14.6%, which excludes:
PPNR(1) 0.69 2.26 2.22
Adjusted PPNR(1) 2.24 2.26 2.22
Key MetricsDiluted EPS | $ 0.56 | $ 1.23 | $ 1.04 |
Adjusted diluted EPS(1) | 1.16 | 1.23 | 1.04 |
BVPS | 46.78 | 48.04 | 46.70 |
TBVPS(1) | 31.90 | 33.40 | 32.57 |
CET1 ratio(2) | 10.7 | 10.9 | 11.0 |
Average Balances | |||
Assets | $ 550 | $ 550 | $ 542 |
Securities | 118 | 118 | 119 |
Loans and leases | 329 | 332 | 322 |
Deposits | 411 | 405 | 397 |
Amounts may not foot due to rounding.
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 Third Quarter 2026 Quarterly Performance Summary.
Current quarter capital ratios are preliminary.
This section summarizes changes from third quarter of 2026 compared to second quarter of 2026, unless otherwise noted.
$1.4 billion pre-tax, or $0.90 per share, loss on the sale of
AFS securities
$581 million pre-tax, or $0.36 per share, loan loss reserve recapture and $106 million pre-tax, or $0.06 per share, of impacts associated with the RAC loan sale
Adjusted revenue - TE(1) of $5.3 billion was stable
ROCE
4.7 %
10.4 %
9.0 %
ROTCE(1)
7.2
15.4
13.6
Adjusted ROTCE(1)
14.6
15.4
13.6
Efficiency ratio
82.9
58.0
58.1
NIM - TE(1)
3.00
2.98
3.01
NCO ratio
0.77
0.50
0.48
•
ALLL ratio
1.25
1.51
1.54
Net interest income - TE(1) increased 1.1%; NIM - TE(1) was up two basis points
Noninterest income was impacted by losses on the RAC loan sale and the AFS securities repositioning, partially offset by record quarterly income for wealth management
Noninterest expense, excluding $40 million of RAC loan sale costs, was stable
End of period loans and leases HFI were $323.9 billion, down
$5.9 billion, $5.5 billion of which was due to the RAC loan sale
End of period deposits were $413.2 billion, up $3.9 billion, or 0.9%
Asset quality improved as a result of the RAC loan sale
NCO ratio of 77 basis points, which includes 39 basis points related to RAC
Nonperforming loans to total loans HFI were 0.40%, down 11 basis points
ALLL ratio of 1.25% declined 26 basis points
Ratio of ALLL to nonperforming loans and leases HFI of 3.1x
CEO Commentary
"Since joining Truist, I've become even more confident in the strength of our franchise and the significant opportunities ahead. We delivered a solid quarter while also taking decisive actions to better position Truist for the future. These actions strengthen our risk, liquidity, and funding profile and create greater capacity to invest in our best businesses. We're simplifying the company and focusing our resources, capital, and expenses on the businesses and capabilities that will help us become the most important financial partner to our clients. Looking ahead, we remain confident in our ability to deliver against our near- and long-term ROTCE targets and will work to build a more focused company positioned to deliver sustainable growth and stronger returns for shareholders."
- Mike Lyons, Truist President & 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) 3Q26 2Q26 3Q25 Link Quarter Like Quarter
Interest income
$ 6,030
$ 5,967
$ 6,286
$ 63
1.1 %
$ (256)
(4.1)%
Plus: TE adjustment(1)
44
46
51
(2)
(4.3)
(7)
(13.7)
Interest income - TE(1)
6,074
6,013
6,337
61
1.0
(263)
(4.2)
Interest expense
2,367
2,346
2,657
21
0.9
(290)
(10.9)
Net interest income - TE(1)
$ 3,707
$ 3,667
$ 3,680
$ 40
1.1
$ 27
0.7
NIM - TE(1)
3.00 %
2.98 %
3.01 %
2 bps
(1) bp
Average Balances(2)
Total earning assets
$ 491,430 $ 492,461 $ 486,006
$
(1,031)
(0.2)%
$
5,424
1.1 %
Total interest-bearing liabilities
371,474
370,782
359,103
692
0.2
12,371
3.4
Yields / Rates(1)
Total earning assets
4.91 %
4.89 %
5.18 %
2 bps
(27) bps
Total interest-bearing liabilities
2.53
2.54
2.94
(1) bp
(41) bps
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.
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 $40 million, or 1.1%, compared to the second quarter of 2026, driven by an additional day and fixed asset and liability repricing, partially offset by lower loan balances. NIM - TE was 3.00%, up two basis points compared to the second quarter of 2026.
Average earning assets decreased $1.0 billion, or 0.2%, primarily due to a decrease in average total loans of $2.3 billion, or 0.7%, partially offset by an increase in other earning assets of $1.2 billion, or 3.4%.
The yield on the average total loan portfolio was 5.71%, up three basis points. The yield on the average securities portfolio was 3.03%, up seven basis points.
Average deposits increased $5.8 billion, or 1.4%, average short-term borrowings decreased $10.3 billion, or 36%, and average long-term debt increased $4.5 billion, or 11%.
The average cost of total deposits was 1.59%, up three basis points. The average cost of short-term borrowings was 3.96%, down one basis point. The average cost of long-term debt was 4.73%, down four basis points.
Taxable-equivalent net interest income was up $27 million, or 0.7%, compared to the third quarter of 2025, primarily driven by fixed asset and liability repricing, higher client deposit balances, and higher loan balances, partially offset by lower loan spreads and unfavorable deposit mix. NIM - TE was 3.00%, stable compared to the third quarter of 2025.
Average earning assets increased $5.4 billion, or 1.1%, primarily due to an increase in average total loans of $7.4 billion, or 2.3%.
The yield on the average total loan portfolio was 5.71%, down 29 basis points. The yield on the average securities portfolio was 3.03%, down 13 basis points.
Average deposits increased $14.1 billion, or 3.6%, average short-term borrowings decreased $8.2 billion, or 31%, and average long-term debt increased $3.7 billion, or 8.9%.
The average cost of total deposits was 1.59%, down 25 basis points. The average cost of short-term borrowings was 3.96%, down 46 basis points. The average cost of long-term debt was 4.73%, down 31 basis points.
Noninterest Income
Quarter Ended Change
(Dollars in millions) 3Q26 2Q26 3Q25 Link Quarter Like Quarter
Wealth management income
$ 407
$ 375
$ 374
$ 32
8.5 %
$ 33
8.8 %
Card and treasury management fees
347
353
340
(6)
(1.7)
7
2.1
Investment banking and trading income
324
352
323
(28)
(8.0)
1
0.3
Other deposit revenue
125
120
125
5
4.2
-
-
Mortgage banking income
113
116
118
(3)
(2.6)
(5)
(4.2)
Lending related fees
120
120
103
-
-
17
16.5
Securities gains (losses)
(1,447)
-
-
(1,447)
NM
(1,447)
NM
Other income
95
208
175
(113)
(54.3)
(80)
(45.7)
Total noninterest income
$ 84
$ 1,644
$ 1,558
$ (1,560)
(94.9)
$ (1,474)
(94.6)
Securities losses
1,447
-
-
Loss on RAC loan sale
66
-
-
Adjusted noninterest income(1)
$ 1,597
$ 1,644
$ 1,558
$ (47)
(2.9)%
$ 39
2.5 %
(1) Adjusted noninterest income is a non-GAAP measure that excludes selected items. Truist's management uses this measure in its analysis of Truist's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods.
Noninterest income was down $1.6 billion compared to the second quarter of 2026, and down $1.5 billion compared to the third quarter of 2025. The third quarter of 2026 included losses from AFS securities sales of $1.4 billion and losses associated with the RAC loan sale of $66 million (other income). For both periods:
Wealth management income increased primarily reflecting favorable market performance.
Other income decreased primarily due to the losses associated with the RAC loan sale and lower returns from investments held for post-retirement benefits (which were offset by lower personnel expense).
Investment banking and trading income decreased compared to the second quarter of 2026, primarily due to lower trading income.
Noninterest Expense
Quarter Ended Change
(Dollars in millions) 3Q26 2Q26 3Q25 Link Quarter Like Quarter
Personnel expense
$ 1,853 $
1,792
$ 1,748
$ 61
3.4 %
$ 105
6.0 %
Professional fees and outside processing
365
335
346
30
9.0
19
5.5
Software expense
254
239
233
15
6.3
21
9.0
Net occupancy expense
180
171
185
9
5.3
(5)
(2.7)
Equipment expense
77
79
90
(2)
(2.5)
(13)
(14.4)
Marketing and customer development
83
91
79
(8)
(8.8)
4
5.1
Amortization of intangibles
62
63
72
(1)
(1.6)
(10)
(13.9)
Regulatory costs
61
61
32
-
-
29
90.6
Other expense
170
224
229
(54)
(24.1)
(59)
(25.8)
Total noninterest expense
$ 3,105 $
3,055
$ 3,014
$ 50
1.6
$ 91
3.0
RAC loan sale cost
(40)
-
-
Adjusted noninterest expense(1)
$ 3,065 $
3,055
$ 3,014
$ 10
0.3 %
$ 51
1.7 %
(1) Adjusted noninterest expense is a non-GAAP measure that excludes selected items. Truist's management uses this measure in its analysis of Truist's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods.
Noninterest expense was up $50 million compared to the second quarter of 2026, and up $91 million compared to the third quarter of 2025. Noninterest expense was stable compared to the second quarter of 2026, excluding $40 million of RAC loan sale costs. For both periods:
Personnel expense increased primarily due to higher employee benefit expenses, including costs associated with the RAC loan sale, partially offset by lower post-retirement benefit expense (which was offset by lower other income). Additionally, higher incentive expense related to revenue generating businesses contributed to the increase in personnel expense compared to the third quarter of 2025.
Professional fees and outside processing expense increased primarily due to continued investment in technology infrastructure.
Other expense decreased primarily driven by adjustments to non-fraud operating loss accruals.
Provision for Income Taxes
Quarter Ended Change
(Dollars in millions) 3Q26 2Q26 3Q25 Link Quarter Like Quarter
Provision for income taxes
$ 96 $
262 $
285
$ (166) (63.4)%
$ (189) (66.3)%
Effective tax rate
10.7 %
14.4 %
16.4 %
(370) bps
(570) bps
The lower effective tax rate for the third quarter of 2026 compared to the second quarter of 2026 and the third quarter of 2025 was primarily driven by lower income before tax resulting from the AFS securities repositioning, which increased the relative benefit of tax credits and other tax-advantaged items on the effective tax rate.
Average Loans and Leases
(Dollars in millions)
Commercial:
3Q26
2Q26
Change
% Change
Commercial and industrial
$ 165,989
$ 168,817
$ (2,828)
(1.7)%
CRE
25,493
24,938
555
2.2
Commercial construction
7,515
7,455
60
0.8
Total commercial
198,997
201,210
(2,213)
(1.1)
Consumer:
Residential mortgage
57,286
56,342
944
1.7
Home equity
9,663
9,656
7
0.1
Indirect auto
21,406
24,430
(3,024)
(12.4)
Other consumer
33,360
32,661
699
2.1
Total consumer
121,715
123,089
(1,374)
(1.1)
Credit card
4,811
4,863
(52)
(1.1)
Total loans and leases held for investment
$ 325,523
$ 329,162
$ (3,639)
(1.1)
Average loans and leases HFI were $325.5 billion, a decrease of $3.6 billion, or 1.1%, compared to the second quarter of 2026.
Average commercial loans decreased 1.1% primarily due to a decrease in the commercial and industrial portfolio.
Average consumer loans decreased 1.1% primarily due to a decline in the indirect auto portfolio which was impacted by the RAC loan sale, partially offset by an increase in the residential mortgage portfolio.
End of period loans and leases HFI were $323.9 billion, down $5.9 billion, or 1.8%, compared to June 30, 2026, primarily due to the RAC loan sale in the third quarter of 2026 and a decline in the commercial and industrial portfolio, partially offset by an increase in the residential mortgage portfolio.
Average Deposits | ||||
(Dollars in millions) | 3Q26 | 2Q26 | Change | % Change |
Noninterest-bearing deposits | $ 102,954 | $ 103,620 | $ (666) | (0.6)% |
Interest checking | 131,507 | 123,556 | 7,951 | 6.4 |
Money market and savings | 137,166 | 136,423 | 743 | 0.5 |
Time deposits | 39,072 | 41,270 | (2,198) | (5.3) |
Total deposits | $ 410,699 | $ 404,869 | $ 5,830 | 1.4 |
Average deposits for the third quarter of 2026 were $410.7 billion, up $5.8 billion, or 1.4%, compared to the second quarter of 2026, driven by an increase in interest checking. Average noninterest-bearing deposits decreased 0.6% compared to the second quarter of 2026 and represented 25.1% of total deposits for the third quarter of 2026 and 25.6% for the second quarter of 2026.
End of period deposits were $413.2 billion, up $3.9 billion, or 0.9%, compared to June 30, 2026, primarily due to an increase in interest checking deposits, partially offset by a decline in time deposits and noninterest-bearing deposits.
Capital Ratios | |||||
3Q26 | 2Q26 | 1Q26 | 4Q25 | 3Q25 | |
Risk-based: | (preliminary) | ||||
CET1 | 10.7 % | 10.9 % | 10.8 % | 10.8 % | 11.0 % |
Tier 1 | 12.0 | 12.2 | 11.9 | 11.9 | 12.3 |
Total | 13.6 | 14.0 | 13.7 | 13.8 | 14.2 |
Leverage | 9.6 | 9.8 | 9.9 | 10.0 | 10.2 |
Supplementary leverage | 8.0 | 8.2 | 8.3 | 8.3 | 8.5 |
Capital ratios remain strong relative to the regulatory requirements for well-capitalized banks. Truist's CET1 ratio was 10.7% as of September 30, 2026, down 20 basis points compared to June 30, 2026, primarily due to capital returned to shareholders and the repositioning of the AFS securities portfolio, partially offset by current quarter earnings and benefits from the RAC loan sale.
Truist declared common dividends of $0.52 per share during the third quarter of 2026 and repurchased $1.2 billion of common stock.
Truist's average consolidated LCR was 110% for the three months ended September 30, 2026, compared to the regulatory minimum of 100%.
Asset Quality | |||||
(Dollars in millions) | 3Q26 | 2Q26 | 1Q26 | 4Q25 | 3Q25 |
Total nonperforming assets | $ 1,338 | $ 1,748 | $ 1,785 | $ 1,633 | $ 1,629 |
Total loans 90 days or more past due and still accruing | 703 | 698 | 760 | 684 | 584 |
Total loans 30-89 days past due and still accruing | 1,512 | 1,774 | 1,743 | 1,980 | 1,743 |
Nonperforming loans and leases as a percentage of loans and leases HFI | 0.40 % | 0.51 % | 0.50 % | 0.48 % | 0.48 % |
Loans 90 days or more past due and still accruing as a percentage of loans and leases HFI | 0.22 | 0.21 | 0.23 | 0.21 | 0.18 |
Loans 90 days or more past due and still accruing as a percentage of loans and leases HFI, excluding government guaranteed loans | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 |
Loans 30-89 days past due and still accruing as a percentage of loans and leases HFI | 0.47 | 0.54 | 0.53 | 0.60 | 0.54 |
ALLL as a percentage of loans and leases HFI | 1.25 | 1.51 | 1.53 | 1.53 | 1.54 |
Ratio of ALLL to NCO (annualized)(1) | 1.6x | 3.0x | 2.5x | 2.7x | 3.3x |
Ratio of ALLL to nonperforming loans and leases HFI | 3.1x | 2.9x | 3.1x | 3.2x | 3.2x |
(1) Includes $251 million of net charge-offs upon the transfer of RAC loans to LHFS in the third quarter of 2026. Additionally includes $66 million of net charge-offs prior to their transfer to LHFS, for the three months ended September 30, 2026.
Nonperforming assets totaled $1.3 billion at September 30, 2026, down $410 million compared to June 30, 2026, primarily due to the RAC loan sale, partially offset by an increase in the commercial and industrial portfolio. Nonperforming loans and leases were 0.40% of loans and leases HFI at September 30, 2026, down eleven basis points compared to June 30, 2026.
The ACL was $4.4 billion at September 30, 2026, and included $4.1 billion for the ALLL and $370 million for the reserve for unfunded commitments. The ALLL ratio at September 30, 2026 was 1.25%, down 26 basis points compared with June 30, 2026 driven by a reserve recapture related to the RAC loan sale.
Provision for Credit Losses
Quarter Ended Change
(Dollars in millions) 3Q26 2Q26 3Q25 Link Quarter Like Quarter
Provision (benefit) for credit losses(1) | $ (253) | $ 395 | $ 436 | $ (648) | (164.1)% | $ (689) | (158.0)% |
Net charge-offs(2) | 629 | 414 | 385 | 215 | 51.9 | 244 | 63.4 |
Net charge-offs as a percentage of average loans and leases (annualized) | 0.77 % | 0.50 % | 0.48 % | 27 bps | 29 bps |
Includes benefit of $581 million for the three months ended September 30, 2026 from the release of ACL following the recognition of held for sale-related charge-offs resulting from the RAC loan sale.
Includes $251 million of net charge-offs upon the transfer of RAC loans to LHFS in the third quarter of 2026. Additionally includes $66 million of net charge-offs prior to their transfer to LHFS, for the three months ended September 30, 2026.
The benefit for credit losses was $253 million for the third quarter of 2026, compared with provisions for credit losses of $395 million in the second quarter of 2026 and $436 million for the third quarter of 2025. The third quarter of 2026 reflects the benefit from the release of remaining ACL upon the transfer of RAC loans to loans held for sale.
Earnings Presentation and Quarterly Performance Summary
Investors can access the live third quarter 2026 earnings call at 8 a.m. ET today by webcast or dial-in as follows:
Webcast: app.webinar.net/BAM6O91OpkL
Dial-in: 1-877-883-0383, passcode 2090022
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 Third 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 $554 billion as of September 30, 2026. Truist Bank, Member FDIC. Equal Housing Lender. Learn more at Truist.com.
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Glossary of Defined Terms
Term Definition
ACL Allowance for credit losses
AFS Available-for-sale
AI Artificial intelligence, including machine learning
ALLL Allowance for loan and lease losses
ATM Automated teller machine
BVPS Book value (common equity) per share
CEO Chief Executive Officer
CET1 Common equity tier 1
CRE Commercial real estate
EPS Earnings per common share
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 Third quarter of 2025
Link Quarter Second 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
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 its analysis of Truist's performance and the efficiency of its operations. Management believes these non-GAAP measures provide a greater understanding of ongoing operations, enhance comparability of results with prior periods, and demonstrate the effects of significant items in the current period. Truist believes a meaningful analysis of its financial performance requires an understanding of the factors underlying that performance. These disclosures should not be viewed as a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Below is a listing of the types of non-GAAP measures used in this news release:
Adjusted net income available to common shareholders and adjusted diluted EPS - Adjusted net income available to common shareholders and adjusted diluted EPS are non-GAAP in that these measures exclude selected items, net of tax. Truist's management uses these measures in its analysis of Truist's performance. Truist's management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods, as well as demonstrate the effects of significant gains and charges. Diluted EPS impact for individual items may not foot to difference between GAAP diluted and adjusted diluted EPS due to rounding.
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 its 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.
Adjusted revenue - Adjusted revenue includes a taxable-equivalent adjustment utilizing the federal income tax rate of 21% for certain tax-exempt instruments. Adjusted revenue additionally excludes selected items. Truist's management uses this measure in its analysis of Truist's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods.
Adjusted noninterest income and expense - Adjusted noninterest income and expense are non-GAAP measures that exclude selected items. Truist's management uses these measures in its 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 - PPNR 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 and includes a taxable-equivalent adjustment utilizing the federal income tax rate of 21% for certain tax-exempt instruments. Adjusted PPNR is a non-GAAP measure that additionally excludes selected items. Truist's management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods.
Tangible Common Equity and Related Measures - Tangible common equity, average tangible common equity, and related measures, including ROTCE, adjusted ROTCE, and TBVPS, are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes, and its related amortization. Adjusted ROTCE is a non-GAAP measure that additionally excludes other selected items. 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 Third Quarter 2026 Quarterly Performance Summary, which is available at https://ir.truist.com/earnings.
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. These statements include, among other things, statements regarding Truist's near- and long-term ROTCE targets and its confidence in its ability to deliver against those targets.
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 implement strategic and operational plans, including with respect to allocating capital and resources to our highest value opportunities, becoming the most important financial partner to our clients, and executing with urgency, discipline, and accountability;
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.
Quarterly Performance SummaryTruist Financial Corporation Third Quarter 2026
Table of ContentsQuarterly Performance Summary Truist Financial Corporation
Financial Highlights 1
PageConsolidated Ending Balance Sheets 3
Credit Quality 6
Capital Information 10
Selected Mortgage Banking Information & Additional Information 11
Non-GAAP Reconciliations 12
Financial HighlightsQuarter Ended Year-to-Date
(Dollars in millions, except per share data, shares in thousands) | Sept. 30 2026 | June 30 2026 | Sept. 30 2025 | Sept. 30 2026 | Sept. 30 2025 |
Summary Income Statement | |||||
Interest income | $ 6,030 | $ 5,967 | $ 6,286 | $ 17,852 | $ 18,428 |
Plus: TE adjustment | 44 | 46 | 51 | 135 | 147 |
Interest income - TE(1) | 6,074 | 6,013 | 6,337 | 17,987 | 18,575 |
Interest expense | 2,367 | 2,346 | 2,657 | 6,969 | 7,705 |
Net interest income | 3,663 | 3,621 | 3,629 | 10,883 | 10,723 |
Net interest income - TE(1) | 3,707 | 3,667 | 3,680 | 11,018 | 10,870 |
Provision (benefit) for credit losses | (253) | 395 | 436 | 621 | 1,382 |
Net interest income after provision for credit losses | 3,916 | 3,226 | 3,193 | 10,262 | 9,341 |
Noninterest income | 84 | 1,644 | 1,558 | 3,281 | 4,350 |
Noninterest expense | 3,105 | 3,055 | 3,014 | 9,143 | 8,906 |
Income before income taxes | 895 | 1,815 | 1,737 | 4,400 | 4,785 |
Provision for income taxes | 96 | 262 | 285 | 567 | 832 |
Net income | 799 | 1,553 | 1,452 | 3,833 | 3,953 |
Preferred stock dividends and other | 115 | 34 | 104 | 253 | 268 |
Net Income available to common shareholders | 684 | 1,519 | 1,348 | 3,580 | 3,685 |
Adjusted net income available to common shareholders(1) | 1,423 | 1,519 | 1,348 | 4,319 | 3,699 |
Additional Income Statement Information | |||||
Revenue | 3,747 | 5,265 | 5,187 | 14,164 | 15,073 |
Revenue - TE(1) | 3,791 | 5,311 | 5,238 | 14,299 | 15,220 |
Adjusted revenue - TE(1) | 5,304 | 5,311 | 5,238 | 15,812 | 15,239 |
PPNR(1) | 686 | 2,256 | 2,224 | 5,156 | 6,314 |
Adjusted PPNR(1) | 2,239 | 2,256 | 2,224 | 6,709 | 6,333 |
Key Metrics | |||||
Earnings: | |||||
Basic EPS | 0.57 | 1.24 | 1.05 | 2.92 | 2.85 |
Diluted EPS | 0.56 | 1.23 | 1.04 | 2.88 | 2.82 |
Adjusted EPS-diluted(1) | 1.16 | 1.23 | 1.04 | 3.47 | 2.83 |
Cash dividends declared per share | 0.52 | 0.52 | 0.52 | 1.56 | 1.56 |
BVPS | 46.78 | 48.04 | 46.70 | ||
TBVPS(1) | 31.90 | 33.40 | 32.57 | ||
End of period shares outstanding | 1,198,488 | 1,221,626 | 1,279,246 | ||
Weighted average shares outstanding-basic | 1,210,179 | 1,224,867 | 1,280,571 | 1,227,751 | 1,293,341 |
Weighted average shares outstanding-diluted | 1,226,342 | 1,239,040 | 1,296,666 | 1,243,918 | 1,308,676 |
ROA | 0.6 % | 1.1 % | 1.1 % | 0.9 % | 1.0 % |
ROCE | 4.7 | 10.4 | 9.0 | 8.1 | 8.4 |
ROTCE(1) | 7.2 | 15.4 | 13.6 | 12.2 | 12.8 |
Adjusted ROTCE(1) | 14.6 | 15.4 | 13.6 | 14.6 | 12.8 |
NIM - TE(1) | 3.00 | 2.98 | 3.01 | 3.00 | 3.01 |
Efficiency ratio | 82.9 | 58.0 | 58.1 | 64.6 | 59.1 |
Credit Quality | |||||
Nonperforming loans and leases as a percentage of loans and leases HFI | 0.40 % | 0.51 % | 0.48 % | ||
NCO as a percentage of average loans and leases HFI | 0.77 | 0.50 | 0.48 | 0.63 % | 0.53 % |
ALLL as a percentage of loans and leases HFI | 1.25 | 1.51 | 1.54 | ||
Ratio of ALLL to nonperforming loans and leases HFI | 3.1x | 2.9x | 3.2x | ||
Average Balances | |||||
Assets | $ 549,766 | $ 550,465 | $ 541,825 | $ 548,138 | $ 536,879 |
Securities at amortized cost | 118,433 | 118,138 | 119,180 | 117,572 | 121,672 |
Loans and leases | 329,458 | 331,749 | 322,070 | 330,062 | 314,533 |
Deposits | 410,699 | 404,869 | 396,600 | 404,874 | 396,445 |
Common shareholders' equity | 57,899 | 58,616 | 59,141 | 58,791 | 58,535 |
Total shareholders' equity | 63,310 | 63,788 | 65,049 | 63,959 | 64,443 |
Period-End Balances | |||||
Assets | $ 554,196 | $ 556,023 | $ 543,851 | ||
Securities(2) | 110,189 | 114,002 | 113,544 | ||
Securities at amortized cost | 115,727 | 118,574 | 118,263 | ||
Loans and leases | 325,488 | 332,273 | 325,663 | ||
Deposits | 413,233 | 409,379 | 394,907 | ||
Common shareholders' equity | 56,061 | 58,684 | 59,739 | ||
Total shareholders' equity | 61,472 | 64,095 | 65,646 | ||
Capital and Liquidity Ratios | (preliminary) | ||||
Common equity tier 1 | 10.7 % | 10.9 % | 11.0 % | ||
Tier 1 | 12.0 | 12.2 | 12.3 | ||
Total | 13.6 | 14.0 | 14.2 | ||
Leverage | 9.6 | 9.8 | 10.2 | ||
Supplementary leverage | 8.0 | 8.2 | 8.5 | ||
Liquidity coverage ratio | 110 | 113 | 110 |
Applicable ratios are annualized.
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.
Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost.
Quarter Ended Year-to-Date
(Dollars in millions, except per share data, shares in thousands) | Sept. 30 2026 | June 30 2026 | March 31 2026 | Dec. 31 2025 | Sept. 30 2025 | Sept. 30 2026 | Sept. 30 2025 |
Interest Income | |||||||
Interest and fees on loans and leases | $ 4,689 | $ 4,659 | $ 4,599 | $ 4,778 | $ 4,816 | $ 13,947 | $ 13,966 |
Interest on securities | 897 | 871 | 849 | 896 | 941 | 2,617 | 2,877 |
Interest on other earning assets | 444 | 437 | 407 | 440 | 529 | 1,288 | 1,585 |
Total interest income | 6,030 | 5,967 | 5,855 | 6,114 | 6,286 | 17,852 | 18,428 |
Interest Expense | |||||||
Interest on deposits | 1,647 | 1,575 | 1,525 | 1,633 | 1,835 | 4,747 | 5,415 |
Interest on long-term debt | 534 | 485 | 445 | 481 | 523 | 1,464 | 1,363 |
Interest on other borrowings | 186 | 286 | 286 | 300 | 299 | 758 | 927 |
Total interest expense | 2,367 | 2,346 | 2,256 | 2,414 | 2,657 | 6,969 | 7,705 |
Net Interest Income | 3,663 | 3,621 | 3,599 | 3,700 | 3,629 | 10,883 | 10,723 |
Provision (benefit) for credit losses | (253) | 395 | 479 | 512 | 436 | 621 | 1,382 |
Net Interest Income After Provision for Credit Losses | 3,916 | 3,226 | 3,120 | 3,188 | 3,193 | 10,262 | 9,341 |
Noninterest Income | |||||||
Wealth management income | 407 | 375 | 370 | 365 | 374 | 1,152 | 1,066 |
Card and treasury management fees | 347 | 353 | 338 | 336 | 340 | 1,038 | 1,024 |
Investment banking and trading income | 324 | 352 | 372 | 335 | 323 | 1,048 | 801 |
Other deposit revenue | 125 | 120 | 120 | 121 | 125 | 365 | 350 |
Mortgage banking income | 113 | 116 | 133 | 119 | 118 | 362 | 333 |
Lending related fees | 120 | 120 | 118 | 98 | 103 | 358 | 297 |
Securities gains (losses) | (1,447) | - | - | - | - | (1,447) | (19) |
Other income | 95 | 208 | 102 | 172 | 175 | 405 | 498 |
Total noninterest income | 84 | 1,644 | 1,553 | 1,546 | 1,558 | 3,281 | 4,350 |
Noninterest Expense | |||||||
Personnel expense | 1,853 | 1,792 | 1,727 | 1,818 | 1,748 | 5,372 | 5,030 |
Professional fees and outside processing | 365 | 335 | 313 | 337 | 346 | 1,013 | 1,083 |
Software expense | 254 | 239 | 230 | 242 | 233 | 723 | 694 |
Net occupancy expense | 180 | 171 | 179 | 176 | 185 | 530 | 534 |
Equipment expense | 77 | 79 | 85 | 90 | 90 | 241 | 261 |
Marketing and customer development | 83 | 91 | 79 | 63 | 79 | 253 | 236 |
Amortization of intangibles | 62 | 63 | 64 | 70 | 72 | 189 | 220 |
Regulatory costs | 61 | 61 | 68 | 7 | 32 | 190 | 156 |
Other expense | 170 | 224 | 238 | 367 | 229 | 632 | 692 |
Total noninterest expense | 3,105 | 3,055 | 2,983 | 3,170 | 3,014 | 9,143 | 8,906 |
Earnings | |||||||
Income before income taxes | 895 | 1,815 | 1,690 | 1,564 | 1,737 | 4,400 | 4,785 |
Provision for income taxes | 96 | 262 | 209 | 210 | 285 | 567 | 832 |
Net income | 799 | 1,553 | 1,481 | 1,354 | 1,452 | 3,833 | 3,953 |
Preferred stock dividends and other | 115 | 34 | 104 | 65 | 104 | 253 | 268 |
Net income available to common shareholders | $ 684 | $ 1,519 | $ 1,377 | $ 1,289 | $ 1,348 | $ 3,580 | $ 3,685 |
Earnings Per Common Share | |||||||
Basic EPS | $ 0.57 | $ 1.24 | $ 1.10 | $ 1.02 | $ 1.05 | $ 2.92 | $ 2.85 |
Diluted EPS | 0.56 | 1.23 | 1.09 | 1.00 | 1.04 | 2.88 | 2.82 |
Weighted Average Shares Outstanding | |||||||
Basic | 1,210,179 | 1,224,867 | 1,248,628 | 1,267,341 | 1,280,571 | 1,227,751 | 1,293,341 |
Diluted | 1,226,342 | 1,239,040 | 1,266,572 | 1,285,078 | 1,296,666 | 1,243,918 | 1,308,676 |
Consolidated Ending Balance Sheets - Five Quarter Trend | |||||
Sept. 30 | June 30 | March 31 | Dec. 31 | Sept. 30 | |
(Dollars in millions) | 2026 | 2026 | 2026 | 2025 | 2025 |
Assets | |||||
Cash and due from banks | $ 4,230 | $ 4,707 | $ 4,294 | $ 4,967 | $ 4,329 |
Interest-bearing deposits with banks | 41,242 | 34,581 | 31,903 | 31,410 | 32,523 |
Securities borrowed or purchased under agreements to resell | 3,903 | 4,431 | 4,047 | 3,200 | 2,981 |
Trading assets at fair value | 5,218 | 5,288 | 5,235 | 5,790 | 5,731 |
AFS securities at fair value | 61,523 | 67,651 | 65,430 | 65,042 | 65,522 |
HTM securities at amortized cost | 48,666 | 46,351 | 46,436 | 47,186 | 48,022 |
Loans and leases: | |||||
Commercial: | |||||
Commercial and industrial | 167,316 | 168,826 | 169,247 | 167,808 | 163,607 |
CRE | 25,897 | 25,479 | 24,447 | 23,720 | 22,414 |
Commercial construction | 7,458 | 7,372 | 7,620 | 7,783 | 8,027 |
Consumer: | |||||
Residential mortgage | 58,203 | 56,632 | 56,297 | 56,807 | 57,623 |
Home equity | 9,687 | 9,677 | 9,633 | 9,719 | 9,618 |
Indirect auto | 17,092 | 23,840 | 25,054 | 25,659 | 25,490 |
Other consumer | 33,486 | 33,164 | 32,097 | 32,181 | 32,070 |
Credit card | 4,791 | 4,806 | 4,843 | 4,918 | 4,889 |
Total loans and leases held for investment | 323,930 | 329,796 | 329,238 | 328,595 | 323,738 |
Loans held for sale | 1,558 | 2,477 | 2,174 | 1,883 | 1,925 |
Total loans and leases | 325,488 | 332,273 | 331,412 | 330,478 | 325,663 |
Allowance for loan and lease losses | (4,063) | (4,983) | (5,026) | (5,030) | (4,988) |
Premises and equipment | 3,257 | 3,177 | 3,145 | 3,172 | 3,176 |
Goodwill | 17,125 | 17,125 | 17,125 | 17,125 | 17,125 |
Core deposit and other intangible assets | 1,067 | 1,130 | 1,192 | 1,256 | 1,328 |
Loan servicing rights at fair value | 5,066 | 4,293 | 4,112 | 3,972 | 3,776 |
Other assets | 41,474 | 39,999 | 39,670 | 38,970 | 38,663 |
Total assets | $ 554,196 | $ 556,023 | $ 548,975 | $ 547,538 | $ 543,851 |
Liabilities | |||||
Deposits: | |||||
Noninterest-bearing deposits | $ 103,325 | $ 104,341 | $ 105,460 | $ 105,092 | $ 106,197 |
Interest checking | 137,313 | 130,421 | 123,257 | 117,830 | 109,827 |
Money market and savings | 133,535 | 133,688 | 135,702 | 139,044 | 135,931 |
Time deposits | 39,060 | 40,929 | 39,662 | 38,432 | 42,952 |
Total deposits | 413,233 | 409,379 | 404,081 | 400,398 | 394,907 |
Short-term borrowings | 12,415 | 26,885 | 27,441 | 27,839 | 29,376 |
Long-term debt | 53,373 | 42,976 | 41,622 | 41,963 | 41,729 |
Other liabilities | 13,703 | 12,688 | 11,617 | 12,149 | 12,193 |
Total liabilities | 492,724 | 491,928 | 484,761 | 482,349 | 478,205 |
Shareholders' Equity: | |||||
Preferred stock | 5,411 | 5,411 | 4,916 | 4,916 | 5,907 |
Common stock | 5,992 | 6,108 | 6,229 | 6,312 | 6,396 |
Additional paid-in capital | 30,613 | 31,616 | 32,610 | 33,663 | 34,278 |
Retained earnings | 27,728 | 27,676 | 26,796 | 26,067 | 25,438 |
Accumulated other comprehensive loss | (8,272) | (6,716) | (6,337) | (5,769) | (6,373) |
Total shareholders' equity | 61,472 | 64,095 | 64,214 | 65,189 | 65,646 |
Total liabilities and shareholders' equity | $ 554,196 | $ 556,023 | $ 548,975 | $ 547,538 | $ 543,851 |
Quarter Ended
September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 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 | $ 13,772 | $ 151 | 4.34 % | $ 13,454 | $ 145 | 4.32 % | $ 13,138 | $ 145 | 4.48 % | $ 13,275 | $ 162 | 4.82 % | $ 13,351 | $ 174 | 5.18 % |
GSE | 452 | 5 | 3.99 | 464 | 4 | 3.84 | 474 | 5 | 3.98 | 478 | 4 | 3.80 | 458 | 4 | 3.86 |
Agency MBS | 102,259 | 723 | 2.83 | 103,367 | 717 | 2.78 | 102,089 | 696 | 2.73 | 103,591 | 727 | 2.81 | 104,998 | 760 | 2.89 |
States and political subdivisions | 342 | 4 | 4.27 | 347 | 4 | 4.27 | 347 | 3 | 4.30 | 349 | 4 | 4.27 | 358 | 3 | 4.19 |
Other | 1,608 | 15 | 3.83 | 506 | 3 | 2.12 | 70 | - | 1.65 | 14 | - | 4.42 | 15 | 1 | 4.50 |
Total securities | 118,433 | 898 | 3.03 | 118,138 | 873 | 2.96 | 116,118 | 849 | 2.93 | 117,707 | 897 | 3.04 | 119,180 | 942 | 3.16 |
Loans and leases: | |||||||||||||||
Commercial: | |||||||||||||||
Commercial and industrial | 165,989 | 2,177 | 5.21 | 168,817 | 2,211 | 5.25 | 166,636 | 2,179 | 5.30 | 163,990 | 2,267 | 5.49 | 162,207 | 2,312 | 5.66 |
CRE | 25,493 | 366 | 5.63 | 24,938 | 349 | 5.56 | 24,165 | 339 | 5.64 | 23,205 | 354 | 5.99 | 21,171 | 336 | 6.25 |
Commercial construction | 7,515 | 115 | 6.29 | 7,455 | 112 | 6.18 | 7,845 | 117 | 6.21 | 8,015 | 129 | 6.52 | 8,258 | 139 | 6.84 |
Consumer: | |||||||||||||||
Residential mortgage | 57,286 | 610 | 4.25 | 56,342 | 585 | 4.15 | 56,458 | 582 | 4.13 | 57,100 | 589 | 4.13 | 57,676 | 598 | 4.15 |
Home equity | 9,663 | 170 | 6.99 | 9,656 | 169 | 7.02 | 9,666 | 167 | 6.99 | 9,679 | 176 | 7.24 | 9,588 | 182 | 7.51 |
Indirect auto | 21,406 | 368 | 6.81 | 24,430 | 429 | 7.06 | 25,342 | 443 | 7.08 | 25,639 | 469 | 7.27 | 24,964 | 459 | 7.29 |
Other consumer | 33,360 | 700 | 8.32 | 32,661 | 679 | 8.33 | 32,053 | 662 | 8.38 | 32,181 | 677 | 8.35 | 31,714 | 668 | 8.36 |
Credit card | 4,811 | 134 | 11.07 | 4,863 | 133 | 10.93 | 4,857 | 129 | 10.79 | 4,956 | 136 | 10.89 | 4,915 | 146 | 11.74 |
Total loans and leases held for investment | 325,523 | 4,640 | 5.66 | 329,162 | 4,667 | 5.68 | 327,022 | 4,618 | 5.71 | 324,765 | 4,797 | 5.87 | 320,493 | 4,840 | 6.00 |
Loans held for sale | 3,935 | 93 | 9.41 | 2,587 | 35 | 5.54 | 1,950 | 26 | 5.24 | 1,972 | 28 | 5.64 | 1,577 | 24 | 6.18 |
Total loans and leases | 329,458 | 4,733 | 5.71 | 331,749 | 4,702 | 5.68 | 328,972 | 4,644 | 5.71 | 326,737 | 4,825 | 5.87 | 322,070 | 4,864 | 6.00 |
Interest earning trading assets | 5,341 | 69 | 5.27 | 5,618 | 75 | 5.32 | 5,807 | 74 | 5.09 | 6,015 | 82 | 5.38 | 5,991 | 86 | 5.70 |
Other earning assets(3) | 38,198 | 374 | 3.85 | 36,956 | 363 | 3.89 | 35,457 | 333 | 3.77 | 34,138 | 359 | 4.13 | 38,765 | 445 | 4.50 |
Total earning assets | 491,430 | 6,074 | 4.91 | 492,461 | 6,013 | 4.89 | 486,354 | 5,900 | 4.90 | 484,597 | 6,163 | 5.05 | 486,006 | 6,337 | 5.18 |
Nonearning assets | 58,336 | 58,004 | 57,767 | 57,636 | 55,819 | ||||||||||
Total assets | $ 549,766 | $ 550,465 | $ 544,121 | $ 542,233 | $ 541,825 | ||||||||||
Liabilities and Shareholders' Equity | |||||||||||||||
Interest-bearing deposits: | |||||||||||||||
Interest checking | $ 131,507 | 747 | 2.25 | $ 123,556 | 652 | 2.12 | $ 120,110 | 619 | 2.09 | $ 112,313 | 618 | 2.18 | $ 109,244 | 677 | 2.46 |
Money market and savings | 137,166 | 599 | 1.73 | 136,423 | 608 | 1.79 | 136,106 | 609 | 1.81 | 138,114 | 677 | 1.95 | 136,515 | 755 | 2.19 |
Time deposits | 39,072 | 301 | 3.06 | 41,270 | 315 | 3.06 | 39,337 | 297 | 3.06 | 40,031 | 338 | 3.35 | 45,090 | 403 | 3.54 |
Total interest-bearing deposits | 307,745 | 1,647 | 2.12 | 301,249 | 1,575 | 2.10 | 295,553 | 1,525 | 2.09 | 290,458 | 1,633 | 2.23 | 290,849 | 1,835 | 2.50 |
Short-term borrowings | 18,595 | 186 | 3.96 | 28,893 | 286 | 3.97 | 30,669 | 286 | 3.78 | 29,128 | 300 | 4.08 | 26,796 | 299 | 4.42 |
Long-term debt | 45,134 | 534 | 4.73 | 40,640 | 485 | 4.77 | 37,141 | 445 | 4.80 | 39,138 | 481 | 4.91 | 41,458 | 523 | 5.04 |
Total interest-bearing liabilities | 371,474 | 2,367 | 2.53 | 370,782 | 2,346 | 2.54 | 363,363 | 2,256 | 2.51 | 358,724 | 2,414 | 2.67 | 359,103 | 2,657 | 2.94 |
Noninterest-bearing deposits | 102,954 | 103,620 | 103,371 | 105,552 | 105,751 | ||||||||||
Other liabilities | 12,028 | 12,275 | 12,593 | 12,619 | 11,922 | ||||||||||
Shareholders' equity | 63,310 | 63,788 | 64,794 | 65,338 | 65,049 | ||||||||||
Total liabilities and shareholders' equity | $ 549,766 | $ 550,465 | $ 544,121 | $ 542,233 | $ 541,825 | ||||||||||
Average interest-rate spread | 2.38 | 2.35 | 2.39 | 2.38 | 2.24 | ||||||||||
Net interest income / net interest margin -TE(2) | $ 3,707 | 3.00 % | $ 3,667 | 2.98 % | $ 3,644 | 3.02 % | $ 3,749 | 3.07 % | $ 3,680 | 3.01 % | |||||
TE adjustment(2) | 44 | 46 | 45 | 49 | 51 | ||||||||||
Net interest income | $ 3,663 | $ 3,621 | $ 3,599 | $ 3,700 | $ 3,629 | ||||||||||
Memo: Total deposits | $ 410,699 | 1,647 | 1.59 % | $ 404,869 | 1,575 | 1.56 % | $ 398,924 | 1,525 | 1.55 % | $ 396,010 | 1,633 | 1.64 % | $ 396,600 | 1,835 | 1.84 % |
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.
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.
Includes cash equivalents, interest-bearing deposits with banks, FHLB stock, and other earning assets.
Year-to-Date | ||||||
September 30, 2026 | September 30, 2025 | |||||
(Dollars in millions) | Average Balances(1) | Income/ Expense(2) | Yields/ Average Rates(2) Balances(1) | Income/ Expense(2) | Yields/ Rates(2) | |
Assets | ||||||
AFS and HTM securities at amortized cost: | ||||||
U.S. Treasury | $ 13,457 | $ 441 | 4.38 % | $ 14,078 | $ 546 | 5.19 % |
GSE | 463 | 14 | 3.94 | 461 | 13 | 3.78 |
Agency MBS | 102,572 | 2,136 | 2.78 | 106,752 | 2,309 | 2.88 |
States and political subdivisions | 345 | 11 | 4.28 | 366 | 11 | 4.20 |
Other | 735 | 18 | 3.34 | 15 | 1 | 4.59 |
Total securities | 117,572 | 2,620 | 2.97 | 121,672 | 2,880 | 3.16 |
Loans and leases: | ||||||
Commercial: | ||||||
Commercial and industrial | 167,145 | 6,567 | 5.25 | 158,663 | 6,758 | 5.69 |
CRE | 24,870 | 1,054 | 5.61 | 20,235 | 946 | 6.20 |
Commercial construction | 7,604 | 344 | 6.23 | 8,533 | 428 | 6.84 |
Consumer: | ||||||
Residential mortgage | 56,698 | 1,777 | 4.18 | 56,715 | 1,739 | 4.09 |
Home equity | 9,662 | 506 | 7.00 | 9,581 | 537 | 7.49 |
Indirect auto | 23,712 | 1,240 | 6.99 | 24,129 | 1,312 | 7.27 |
Other consumer | 32,696 | 2,041 | 8.35 | 30,474 | 1,904 | 8.36 |
Credit card | 4,843 | 396 | 10.93 | 4,885 | 423 | 11.57 |
Total loans and leases held for investment | 327,230 | 13,925 | 5.69 | 313,215 | 14,047 | 5.99 |
Loans held for sale | 2,832 | 154 | 7.25 | 1,318 | 60 | 6.09 |
Total loans and leases | 330,062 | 14,079 | 5.70 | 314,533 | 14,107 | 5.99 |
Interest earning trading assets | 5,587 | 218 | 5.22 | 5,840 | 254 | 5.80 |
Other earning assets(3) | 36,879 | 1,070 | 3.84 | 39,059 | 1,334 | 4.51 |
Total earning assets | 490,100 | 17,987 | 4.90 | 481,104 | 18,575 | 5.15 |
Nonearning assets | 58,038 | 55,775 | ||||
Total assets | $ 548,138 | $ 536,879 | ||||
Liabilities and Shareholders' Equity | ||||||
Interest-bearing deposits: | ||||||
Interest checking | $ 125,100 | 2,018 | 2.16 | $ 111,548 | 2,043 | 2.45 |
Money market and savings | 136,569 | 1,816 | 1.78 | 136,339 | 2,249 | 2.21 |
Time deposits | 39,892 | 913 | 3.06 | 42,448 | 1,123 | 3.54 |
Total interest-bearing deposits | 301,561 | 4,747 | 2.10 | 290,335 | 5,415 | 2.49 |
Short-term borrowings | 26,008 | 758 | 3.89 | 27,777 | 927 | 4.46 |
Long-term debt | 41,001 | 1,464 | 4.77 | 36,063 | 1,363 | 5.04 |
Total interest-bearing liabilities | 368,570 | 6,969 | 2.53 | 354,175 | 7,705 | 2.91 |
Noninterest-bearing deposits | 103,313 | 106,110 | ||||
Other liabilities | 12,296 | 12,151 | ||||
Shareholders' equity | 63,959 | 64,443 | ||||
Total liabilities and shareholders' equity | $ 548,138 | $ 536,879 | ||||
Average interest-rate spread | 2.37 | 2.24 | ||||
Net interest income / net interest margin -TE(2) | $ 11,018 | 3.00 % | $ 10,870 | 3.01 % | ||
TE adjustment(2) | 135 | 147 | ||||
Net interest income | $ 10,883 | $ 10,723 | ||||
Memo: Total deposits | $ 404,874 | 4,747 | 1.57 % | $ 396,445 | 5,415 | 1.83 % |
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.
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.
Includes cash equivalents, interest-bearing deposits with banks, FHLB stock, and other earning assets.
Sept. 30 June 30 March 31 Dec. 31 Sept. 30
(Dollars in millions) 2026 2026 2026 2025 2025
Nonperforming AssetsNonaccrual loans and leases: Commercial:
Commercial and industrial | $ 733 | $ 657 | $ 738 | $ 839 | $ 800 |
CRE | 43 | 43 | 21 | 47 | 98 |
Commercial construction | 18 | 22 | 23 | 41 | 42 |
Consumer: | |||||
Residential mortgage | 225 | 231 | 231 | 213 | 196 |
Home equity | 94 | 98 | 101 | 99 | 103 |
Indirect auto | 101 | 569 | 455 | 267 | 247 |
Other consumer | 79 | 72 | 73 | 71 | 66 |
Total nonaccrual loans and leases held for investment | 1,293 | 1,692 | 1,642 | 1,577 | 1,552 |
Loans held for sale | 15 | - | 79 | - | 19 |
Total nonaccrual loans and leases | 1,308 | 1,692 | 1,721 | 1,577 | 1,571 |
Foreclosed real estate | 4 | 5 | 6 | 3 | 4 |
Other foreclosed property | 26 | 51 | 58 | 53 | 54 |
Total nonperforming assets | $ 1,338 | $ 1,748 | $ 1,785 | $ 1,633 | $ 1,629 |
Loans 90 Days or More Past Due and Still Accruing | |||||
Commercial: | |||||
Commercial and industrial | $ - | $ 2 | $ 4 | $ 3 | $ 3 |
CRE | - | 3 | - | - | - |
Consumer: | |||||
Residential mortgage - government guaranteed | 568 | 560 | 609 | 532 | 438 |
Residential mortgage - nonguaranteed | 46 | 33 | 39 | 38 | 41 |
Home equity | 6 | 8 | 7 | 7 | 6 |
Other consumer | 19 | 25 | 26 | 28 | 27 |
Credit card | 64 | 67 | 75 | 76 | 69 |
Total loans 90 days past due and still accruing | $ 703 | $ 698 | $ 760 | $ 684 | $ 584 |
Loans 30-89 Days Past Due and Still Accruing | |||||
Commercial: | |||||
Commercial and industrial | $ 229 | $ 142 | $ 260 | $ 127 | $ 73 |
CRE | 14 | 95 | 42 | 25 | 6 |
Commercial construction | 14 | - | 10 | 36 | 5 |
Consumer: | |||||
Residential mortgage - government guaranteed | 298 | 311 | 263 | 329 | 327 |
Residential mortgage - nonguaranteed | 371 | 354 | 293 | 357 | 344 |
Home equity | 56 | 52 | 57 | 69 | 54 |
Indirect auto | 210 | 521 | 508 | 679 | 620 |
Other consumer | 254 | 232 | 240 | 281 | 241 |
Credit card | 66 | 67 | 70 | 77 | 73 |
Total loans 30-89 days past due and still accruing | $ 1,512 | $ 1,774 | $ 1,743 | $ 1,980 | $ 1,743 |
As of/For the Quarter Ended
Sept. 30 2026 | June 30 2026 | March 31 2026 | Dec. 31 2025 | Sept. 30 2025 | |
Asset Quality Ratios | |||||
Nonperforming loans and leases as a percentage of loans and leases | 0.40 % | 0.51 % | 0.50 % | 0.48 % | 0.48 % |
Nonperforming loans and leases(1) as a percentage of total loans and leases(1) | 0.40 | 0.51 | 0.52 | 0.48 | 0.48 |
Nonperforming assets(1) as a percentage of total assets | 0.24 | 0.31 | 0.33 | 0.30 | 0.30 |
Nonperforming assets(1) as a percentage of loans and leases plus foreclosed property | 0.41 | 0.53 | 0.52 | 0.50 | 0.50 |
Loans 90 days or more past due and still accruing as a percentage of loans and leases | 0.22 | 0.21 | 0.23 | 0.21 | 0.18 |
Loans 90 days or more past due and still accruing as a percentage of loans and leases, excluding government guaranteed loans | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 |
Loans 30-89 days past due and still accruing as a percentage of loans and leases | 0.47 | 0.54 | 0.53 | 0.60 | 0.54 |
Allowance for loan and lease losses as a percentage of loans and leases | 1.25 | 1.51 | 1.53 | 1.53 | 1.54 |
Ratio of allowance for loan and lease losses to: | |||||
Net charge-offs (annualized)(2) | 1.6X | 3.0X | 2.5X | 2.7X | 3.3X |
Nonperforming loans and leases | 3.1X | 2.9X | 3.1X | 3.2X | 3.2X |
Nonperforming assets and total loans and leases include loans held for sale.
Includes $251 million of net charge-offs upon the transfer of RAC loans to LHFS in the third quarter of 2026. Additionally includes $66 million of net charge-offs prior to their transfer to LHFS, for the three months ended September 30, 2026.
Net charge-offs as a percentage of average loans and leases | 0.63 % | 0.53 % |
Ratio of allowance for loan and lease losses to net charge-offs | 2.0X | 3.0X |
Asset Quality Ratios(1)
As of/For the Year-to-Date
Period Ended Sept. 30 2026 2025
Applicable ratios are annualized.
Includes $251 million of net charge-offs upon the transfer of RAC loans to LHFS in the third quarter of 2026. Additionally includes $259 million of net charge-offs prior to their transfer to LHFS, for the nine months ended September 30, 2026.
As of/For the Quarter Ended | As of/For the Year-to-Date | ||||||
Sept. 30 | June 30 March 31 Dec. 31 | Sept. 30 | Period Ended Sept. 30 | ||||
(Dollars in millions) | 2026 | 2026 | 2026 | 2025 | 2025 | 2026 | 2025 |
Allowance for Credit Losses | |||||||
Beginning balance | $ 5,316 | $ 5,335 | $ 5,347 | $ 5,305 | $ 5,253 | $ 5,347 | $ 5,161 |
Provision (benefit) for credit losses(1) | (253) | 395 | 479 | 512 | 436 | 621 | 1,382 |
Charge-offs: | |||||||
Commercial: | |||||||
Commercial and industrial | (125) | (137) | (142) | (141) | (98) | (404) | (320) |
CRE | - | (1) | (7) | (14) | (25) | (8) | (133) |
Commercial construction | (2) | (1) | (17) | - | - | (20) | - |
Consumer: | |||||||
Residential mortgage | (1) | (1) | (1) | (3) | (1) | (3) | (3) |
Home equity | (3) | (3) | (3) | (2) | (2) | (9) | (8) |
Indirect auto(2) | (358) | (135) | (158) | (160) | (150) | (651) | (431) |
Other consumer | (170) | (168) | (184) | (178) | (155) | (522) | (455) |
Credit card | (62) | (70) | (71) | (67) | (49) | (203) | (193) |
Total charge-offs | (721) | (516) | (583) | (565) | (480) | (1,820) | (1,543) |
Recoveries: | |||||||
Commercial: | |||||||
Commercial and industrial | 19 | 22 | 16 | 23 | 20 | 57 | 75 |
CRE | - | 1 | 3 | 6 | 2 | 4 | 12 |
Commercial construction | - | 1 | 1 | 1 | - | 2 | 1 |
Consumer: | |||||||
Residential mortgage | 1 | 1 | 2 | 1 | 2 | 4 | 4 |
Home equity | 4 | 3 | 3 | 3 | 5 | 10 | 13 |
Indirect auto | 22 | 29 | 25 | 24 | 25 | 76 | 78 |
Other consumer | 35 | 35 | 33 | 28 | 31 | 103 | 92 |
Credit card | 11 | 10 | 9 | 9 | 10 | 30 | 33 |
Total recoveries | 92 | 102 | 92 | 95 | 95 | 286 | 308 |
Net charge-offs | (629) | (414) | (491) | (470) | (385) | (1,534) | (1,235) |
Other | (1) | - | - | - | 1 | (1) | (3) |
Ending balance | $ 4,433 | $ 5,316 | $ 5,335 | $ 5,347 | $ 5,305 | $ 4,433 | $ 5,305 |
Allowance for Credit Losses: | |||||||
Allowance for loan and lease losses | $ 4,063 | $ 4,983 | $ 5,026 | $ 5,030 | $ 4,988 | ||
Reserve for unfunded lending commitments | 370 | 333 | 309 | 317 | 317 | ||
Allowance for credit losses | $ 4,433 | $ 5,316 | $ 5,335 | $ 5,347 | $ 5,305 | ||
Includes benefit of $581 million for the three months ended September 30, 2026 from the release of ACL following the recognition of held for sale-related charge-offs resulting from the RAC loan sale.
Includes $251 million of net charge-offs upon the transfer of RAC loans to LHFS in the third quarter of 2026. Additionally includes $66 million and $259 million of net charge-offs prior to their transfer to LHFS, for the three and nine months ended September 30, 2026, respectively.
Quarter Ended | As of/For the Year-to-Date | ||||||
Sept. 30 | June 30 | March 31 | Dec. 31 | Sept. 30 | Period Ended Sept. 30 | ||
2026 | 2026 | 2026 | 2025 | 2025 | 2026 | 2025 | |
Net Charge-offs as a Percentage of Average Loans and Leases: Commercial: | |||||||
Commercial and industrial | 0.25 % | 0.27 % | 0.31 % | 0.29 % | 0.19 % | 0.28 % | 0.21 % |
CRE | - | - | 0.06 | 0.14 | 0.44 | 0.02 | 0.80 |
Commercial construction | 0.12 | (0.01) | 0.84 | (0.04) | (0.03) | 0.33 | (0.02) |
Consumer: | |||||||
Residential mortgage | - | - | (0.01) | 0.01 | - | - | - |
Home equity | (0.04) | 0.02 | (0.02) | (0.04) | (0.11) | (0.01) | (0.07) |
Indirect auto(1) | 6.23 | 1.73 | 2.14 | 2.10 | 1.99 | 3.24 | 1.96 |
Other consumer | 1.61 | 1.63 | 1.91 | 1.84 | 1.55 | 1.72 | 1.60 |
Credit card | 4.21 | 4.97 | 5.15 | 4.64 | 3.13 | 4.78 | 4.38 |
Total net charge-offs (recoveries) as a percentage of average loans and | 0.77 | 0.50 | 0.61 | 0.57 | 0.48 | 0.63 | 0.53 |
leases(1) | |||||||
Ratios are annualized.
Includes $251 million of net charge-offs upon the transfer of RAC loans to LHFS in the third quarter of 2026. Additionally includes $66 million and $259 million of net charge-offs prior to their transfer to LHFS, for the three and nine months ended September 30, 2026, respectively.
Quarter Ended
(Dollars in millions) | Sept. 30 2026 | June 30 2026 | March 31 2026 | Dec. 31 2025 | Sept. 30 2025 |
Consumer and Small Business Banking | |||||
Net interest income (expense) | $ 1,670 | $ 1,625 | $ 1,606 | $ 1,622 | $ 1,571 |
Net intersegment interest income (expense) | 1,047 | 979 | 886 | 862 | 850 |
Segment net interest income (expense) | 2,717 | 2,604 | 2,492 | 2,484 | 2,421 |
Allocated provision (benefit) for credit losses | (299) | 307 | 374 | 431 | 400 |
Noninterest income | 468 | 529 | 529 | 520 | 530 |
Personnel expense | 459 | 443 | 433 | 443 | 449 |
Amortization of intangibles | 33 | 33 | 34 | 37 | 38 |
Other direct noninterest expense | 319 | 312 | 293 | 288 | 281 |
Direct noninterest expense | 811 | 788 | 760 | 768 | 768 |
Expense allocations | 988 | 933 | 920 | 932 | 942 |
Total noninterest expense | 1,799 | 1,721 | 1,680 | 1,700 | 1,710 |
Income (loss) before income taxes | 1,685 | 1,105 | 967 | 873 | 841 |
Provision (benefit) for income taxes | 409 | 271 | 238 | 212 | 205 |
Segment net income (loss) | $ 1,276 | $ 834 | $ 729 | $ 661 | $ 636 |
Wholesale Banking | |||||
Net interest income (expense) | $ 1,878 | $ 1,941 | $ 1,921 | $ 2,018 | $ 2,029 |
Net intersegment interest income (expense) | (317) | (409) | (411) | (401) | (451) |
Segment net interest income (expense) | 1,561 | 1,532 | 1,510 | 1,617 | 1,578 |
Allocated provision for credit losses | 47 | 90 | 105 | 82 | 36 |
Noninterest income | 1,215 | 1,159 | 1,069 | 1,134 | 1,142 |
Personnel expense | 632 | 626 | 612 | 668 | 598 |
Amortization of intangibles | 29 | 30 | 30 | 33 | 34 |
Other direct noninterest expense | 185 | 200 | 187 | 188 | 199 |
Direct noninterest expense | 846 | 856 | 829 | 889 | 831 |
Expense allocations | 551 | 528 | 521 | 471 | 487 |
Total noninterest expense | 1,397 | 1,384 | 1,350 | 1,360 | 1,318 |
Income (loss) before income taxes | 1,332 | 1,217 | 1,124 | 1,309 | 1,366 |
Provision (benefit) for income taxes | 284 | 256 | 232 | 270 | 283 |
Segment net income (loss) | $ 1,048 | $ 961 | $ 892 | $ 1,039 | $ 1,083 |
Other, Treasury & Corporate(1) | |||||
Net interest income (expense) | $ 115 | $ 55 | $ 72 | $ 60 | $ 29 |
Net intersegment interest income (expense) | (730) | (570) | (475) | (461) | (399) |
Segment net interest income (expense) | (615) | (515) | (403) | (401) | (370) |
Allocated provision (benefit) for credit losses | (1) | (2) | - | (1) | - |
Noninterest income | (1,599) | (44) | (45) | (108) | (114) |
Personnel expense | 762 | 723 | 682 | 707 | 701 |
Amortization of intangibles | - | - | - | - | - |
Other direct noninterest expense | 686 | 688 | 712 | 806 | 714 |
Direct Noninterest Expense | 1,448 | 1,411 | 1,394 | 1,513 | 1,415 |
Expense Allocations | (1,539) | (1,461) | (1,441) | (1,403) | (1,429) |
Total noninterest expense | (91) | (50) | (47) | 110 | (14) |
Income (loss) before income taxes | (2,122) | (507) | (401) | (618) | (470) |
Provision (benefit) for income taxes | (597) | (265) | (261) | (272) | (203) |
Segment net income (loss) | $ (1,525) | $ (242) | $ (140) | $ (346) | $ (267) |
Total Truist Financial Corporation | |||||
Net interest income (expense) | $ 3,663 | $ 3,621 | $ 3,599 | $ 3,700 | $ 3,629 |
Net intersegment interest income (expense) | - | - | - | - | - |
Segment net interest income (expense) | 3,663 | 3,621 | 3,599 | 3,700 | 3,629 |
Allocated provision (benefit) for credit losses | (253) | 395 | 479 | 512 | 436 |
Noninterest income | 84 | 1,644 | 1,553 | 1,546 | 1,558 |
Personnel expense | 1,853 | 1,792 | 1,727 | 1,818 | 1,748 |
Amortization of intangibles | 62 | 63 | 64 | 70 | 72 |
Other direct noninterest expense | 1,190 | 1,200 | 1,192 | 1,282 | 1,194 |
Direct Noninterest Expense | 3,105 | 3,055 | 2,983 | 3,170 | 3,014 |
Expense Allocations | - | - | - | - | - |
Total noninterest expense | 3,105 | 3,055 | 2,983 | 3,170 | 3,014 |
Income before income taxes | 895 | 1,815 | 1,690 | 1,564 | 1,737 |
Provision for income taxes | 96 | 262 | 209 | 210 | 285 |
Net income | $ 799 | $ 1,553 | $ 1,481 | $ 1,354 | $ 1,452 |
Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure.
(Dollars in millions, except per share data, shares in thousands) | Sept. 30 2026 | June 30 2026 | March 31 2026 | Dec. 31 2025 | Sept. 30 2025 |
Selected Capital Information | (preliminary) | ||||
Risk-based capital: | |||||
Common equity tier 1 | $ 46,315 | $ 47,488 | $ 47,683 | $ 48,027 | $ 48,031 |
Tier 1 | 51,723 | 52,896 | 52,596 | 52,940 | 53,935 |
Total | 58,502 | 60,707 | 60,470 | 61,255 | 62,377 |
Risk-weighted assets | 431,752 | 434,934 | 440,333 | 443,257 | 438,114 |
Average quarterly assets for leverage ratio | 537,657 | 537,658 | 530,908 | 529,156 | 529,861 |
Average quarterly assets for supplementary leverage ratio | 644,500 | 645,253 | 636,907 | 635,249 | 635,076 |
Risk-based capital ratios: | |||||
Common equity tier 1 | 10.7 % | 10.9 % | 10.8 % | 10.8 % | 11.0 % |
Tier 1 | 12.0 | 12.2 | 11.9 | 11.9 | 12.3 |
Total | 13.6 | 14.0 | 13.7 | 13.8 | 14.2 |
Leverage capital ratio | 9.6 | 9.8 | 9.9 | 10.0 | 10.2 |
Supplementary leverage | 8.0 | 8.2 | 8.3 | 8.3 | 8.5 |
Common equity per common share | $ 46.78 | $ 48.04 | $ 47.60 | $ 47.74 | $ 46.70 |
(Dollars in millions, except per share data) | Sept. 30 2026 | June 30 2026 | March 31 2026 | Dec. 31 2025 | Sept. 30 2025 |
Mortgage Banking Income | |||||
Residential mortgage income: | |||||
Residential mortgage production revenue | $ 22 | $ 24 | $ 27 | $ 26 | $ 22 |
Residential mortgage servicing income: | |||||
Residential mortgage servicing income before MSR valuation | 82 | 70 | 82 | 77 | 74 |
Net MSRs valuation | (7) | 5 | 9 | 1 | 9 |
Total residential mortgage servicing income | 75 | 75 | 91 | 78 | 83 |
Total residential mortgage income | 97 | 99 | 118 | 104 | 105 |
Commercial mortgage income: | |||||
Commercial mortgage production revenue | 11 | 7 | 12 | 12 | 10 |
Commercial mortgage servicing income: | |||||
Commercial mortgage servicing income before MSR valuation | 5 | 5 | 3 | 2 | 4 |
Net MSRs valuation | - | 5 | - | 1 | (1) |
Total commercial mortgage servicing income | 5 | 10 | 3 | 3 | 3 |
Total commercial mortgage income | 16 | 17 | 15 | 15 | 13 |
Total mortgage banking income | $ 113 | $ 116 | $ 133 | $ 119 | $ 118 |
Other Mortgage Banking Information | |||||
Residential mortgage loan originations | $ 6,214 | $ 6,824 | $ 5,137 | $ 4,551 | $ 4,743 |
Residential mortgage servicing portfolio:(1) | |||||
Loans serviced for others | 267,522 | 240,764 | 233,870 | 228,383 | 221,274 |
Bank-owned loans serviced | 58,288 | 57,894 | 57,386 | 57,583 | 58,396 |
Total servicing portfolio | 325,810 | 298,658 | 291,256 | 285,966 | 279,670 |
Weighted-average coupon rate on mortgage loans serviced for others | 3.80 % | 3.79 % | 3.77 % | 3.77 % | 3.75 % |
Weighted-average servicing fee on mortgage loans serviced for others | 0.29 | 0.29 | 0.29 | 0.28 | 0.28 |
Additional Information | |||||
Brokered deposits(2) | $ 26,226 | $ 26,812 | $ 28,488 | $ 29,835 | $ 28,423 |
NQDCP income (expense):(3) | ||||||||||
Interest income | $ - | $ - | $ (6) | $ 4 | $ 1 | |||||
Other income | 1 | 31 | (7) | (1) | 17 | |||||
Personnel expense | (1) | (31) | 13 | (3) | (18) | |||||
Total NQDCP income (expense) | $ | - | $ | - | $ | - | $ | - | $ | - |
Common stock prices: | |||||
High | $ 54.22 | $ 52.11 | $ 56.20 | $ 50.86 | $ 47.46 |
Low | 46.17 | 45.83 | 43.13 | 40.78 | 41.98 |
End of period | 46.30 | 49.82 | 45.97 | 49.21 | 45.72 |
Banking offices | 1,912 | 1,927 | 1,927 | 1,927 | 1,927 |
ATMs | 2,790 | 2,820 | 2,826 | 2,829 | 2,837 |
Full-time equivalent teammates(4) | 37,833 | 37,849 | 37,877 | 38,062 | 38,534 |
| |||||
Diluted EPS
Quarter Ended Year-to-Date
(Dollars in millions, except per share data) | Sept. 30 2026 | June 30 2026 | Sept. 30 2025 | Sept. 30 2026 | Sept. 30 2025 |
Net Income (loss) available to common shareholders | $ 684 | $ 1,519 | $ 1,348 | $ 3,580 | $ 3,685 |
Gross adjustments: | |||||
Securities (gains) losses | 1,447 | - | - | 1,447 | 19 |
Reserve recapture for RAC loan sale | (581) | - | - | (581) | - |
RAC loan sale impact | 106 | - | - | 106 | - |
Applicable income taxes related to adjustments:(1) | |||||
Securities (gains) losses | (346) | - | - | (346) | (5) |
Reserve recapture for RAC loan sale | 139 | - | - | 139 | - |
RAC loan sale impact | (26) | - | - | (26) | - |
Adjusted net income available to common shareholders(2) | $ 1,423 | $ 1,519 | $ 1,348 | $ 4,319 | $ 3,699 |
Weighted average shares outstanding - diluted | 1,226,342 | 1,239,040 | 1,296,666 | 1,243,918 | 1,308,676 |
Diluted EPS | 0.56 | 1.23 | 1.04 | 2.88 | 2.82 |
Adjusted diluted EPS(2) | 1.16 | 1.23 | 1.04 | 3.47 | 2.83 |
Calculated using the applicable marginal tax rate.
Adjusted net income available to common shareholders and adjusted diluted EPS are non-GAAP in that these measures exclude selected items, net of tax. Truist's management uses these measures in its analysis of Truist's performance. Truist's management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods, as well as demonstrate the effects of significant gains and charges. Diluted EPS impact for individual items may not foot to difference between GAAP diluted and adjusted diluted EPS due to rounding.
Revenue
Quarter Ended Year-to-Date
(Dollars in millions) | Sept. 30 2026 | June 30 2026 | Sept. 30 2025 | Sept. 30 2026 | Sept. 30 2025 |
Revenue(1) | $ 3,747 | $ 5,265 | $ 5,187 | $ 14,164 | $ 15,073 |
Taxable equivalent adjustment | 44 | 46 | 51 | 135 | 147 |
Revenue - taxable equivalent(1)(2) | $ 3,791 | $ 5,311 | $ 5,238 | $ 14,299 | $ 15,220 |
Securities (gains) losses | 1,447 | - | - | 1,447 | 19 |
Loss on RAC loan sale | 66 | - | - | 66 | - |
Adjusted revenue - TE(1)(2) | $ 5,304 | $ 5,311 | $ 5,238 | $ 15,812 | $ 15,239 |
Revenue is defined as net interest income plus noninterest income.
Adjusted revenue includes a taxable-equivalent adjustment utilizing the federal income tax rate of 21% for certain tax-exempt instruments. Adjusted revenue additionally excludes selected items. Truist's management uses this measure in its analysis of Truist's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods.
Pre-Provision Net Revenue
Quarter Ended Year-to-Date
(Dollars in millions) | Sept. 30 2026 | June 30 2026 | Sept. 30 2025 | Sept. 30 2026 | Sept. 30 2025 |
Net income | $ 799 | $ 1,553 | $ 1,452 | $ 3,833 | $ 3,953 |
Provision (benefit) for credit losses | (253) | 395 | 436 | 621 | 1,382 |
Provision for income taxes | 96 | 262 | 285 | 567 | 832 |
Taxable-equivalent adjustment | 44 | 46 | 51 | 135 | 147 |
PPNR(1) | 686 | 2,256 | 2,224 | 5,156 | 6,314 |
Securities (gains) losses | 1,447 | - | - | 1,447 | 19 |
RAC loan sale impact | 106 | - | - | 106 | - |
Adjusted PPNR(1) | $ 2,239 | $ 2,256 | $ 2,224 | $ 6,709 | $ 6,333 |
PPNR 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 and includes a taxable-equivalent adjustment utilizing the federal income tax rate of 21% for certain tax-exempt instruments. Adjusted PPNR is a non-GAAP measure that additionally excludes selected items. Truist's management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods.
Return on Average Tangible Common Shareholders' Equity
Quarter Ended Year-to-Date
(Dollars in millions) | Sept. 30 2026 | June 30 2026 | Sept. 30 2025 | Sept. 30 2026 | Sept. 30 2025 |
Net income available to common shareholders | $ 684 | $ 1,519 | $ 1,348 | $ 3,580 | $ 3,685 |
Amortization of intangibles | 62 | 63 | 72 | 189 | 220 |
Applicable income taxes related to the amortization of intangibles(1) | (15) | (15) | (18) | (45) | (53) |
Tangible net income available to common shareholders(2) | 731 | 1,567 | 1,402 | 3,724 | 3,852 |
Gross adjustments: | |||||
Securities (gains) losses | 1,447 | - | - | 1,447 | 19 |
Reserve recapture for RAC loan sale | (581) | - | - | (581) | - |
RAC loan sale impact | 106 | - | - | 106 | - |
Applicable income taxes related to adjustments:(1) | |||||
Securities (gains) losses | (346) | - | - | (346) | (5) |
Reserve recapture for RAC loan sale | 139 | - | - | 139 | - |
RAC loan sale impact | (26) | - | - | (26) | - |
Total adjustments, net of tax | 739 | - | - | 739 | 14 |
Adjusted tangible net income available to common shareholders(2) | $ 1,470 | $ 1,567 | $ 1,402 | $ 4,463 | $ 3,866 |
Average common shareholders' equity | $ 57,899 | $ 58,616 | $ 59,141 | $ 58,791 | $ 58,535 |
Average intangible assets | (18,258) | (18,321) | (18,528) | (18,321) | (18,595) |
Applicable deferred taxes related to intangible assets(1) | 398 | 401 | 415 | 401 | 418 |
Average tangible common shareholders' equity(2) | $ 40,039 | $ 40,696 | $ 41,028 | $ 40,871 | $ 40,358 |
ROCE | 4.7 % | 10.4 % | 9.0 % | 8.1 % | 8.4 % |
ROTCE(2) | 7.2 | 15.4 | 13.6 | 12.2 | 12.8 |
Adjusted ROTCE(2) | 14.6 | 15.4 | 13.6 | 14.6 | 12.8 |
Calculated using the applicable marginal tax rate.
Tangible net income available to common shareholders, average tangible common shareholders' equity, and ROTCE are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes. Adjusted tangible net income available to common shareholders and adjusted ROTCE are non-GAAP measures that additionally exclude other selected items. 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.
Tangible Book Value per Common Share | |||
(Dollars in millions, except per share data, shares in thousands) | Sept. 30 2026 | June 30 2026 | Sept. 30 2025 |
Calculations of Tangible Common Equity and Related Measures:(1) | |||
Total shareholders' equity | $ 61,472 | $ 64,095 | $ 65,646 |
Preferred stock | (5,411) | (5,411) | (5,907) |
Common shareholders' equity | 56,061 | 58,684 | 59,739 |
Intangible assets | (18,223) | (18,287) | (18,489) |
Applicable deferred taxes related to intangible assets(2) | 397 | 400 | 413 |
Tangible common equity | $ 38,235 | $ 40,797 | $ 41,663 |
Outstanding shares at end of period | 1,198,488 | 1,221,626 | 1,279,246 |
Common equity per common share | $ 46.78 | $ 48.04 | $ 46.70 |
TBVPS | 31.90 | 33.40 | 32.57 |
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.
Calculated using the applicable marginal tax rate.