10-Q 1 tfc-20240331.htm 10-Q tfc-20240331
0000092230--12-312024Q1FALSEFALSEhttp://fasb.org/us-gaap/2023#OtherAssetshttp://fasb.org/us-gaap/2023#OtherLiabilities43,04144,6301,20185214151,3591,311232,0341,6252,9902,597552,0341,6252,9902,59723http://fasb.org/us-gaap/2023#OtherAssetshttp://fasb.org/us-gaap/2023#OtherLiabilities110.560.5110.1105262690901931862753.0333.0610.025851340.540.490.1531582525233195129970.83182.3117.01013.0111820.3http://fasb.org/us-gaap/2023#OtherAssetshttp://fasb.org/us-gaap/2023#OtherAssetshttp://fasb.org/us-gaap/2023#OtherLiabilitieshttp://fasb.org/us-gaap/2023#OtherLiabilitieshttp://fasb.org/us-gaap/2023#OtherLiabilitieshttp://fasb.org/us-gaap/2023#OtherLiabilities77http://fasb.org/us-gaap/2023#OtherLiabilitieshttp://fasb.org/us-gaap/2023#OtherLiabilitiesxbrli:sharesiso4217:USDiso4217:USDxbrli:sharesutr:Ratexbrli:puretfc:numberOfSegments00000922302024-01-012024-03-310000092230us-gaap:CommonStockMember2024-01-012024-03-310000092230tfc:SeriesIPreferredStockMember2024-01-012024-03-310000092230tfc:SeriesJPreferredStockMember2024-01-012024-03-310000092230tfc:SeriesOPreferredStockMember2024-01-012024-03-310000092230tfc:SeriesRPreferredStockMember2024-01-012024-03-3100000922302024-03-3100000922302023-12-3100000922302023-01-012023-03-310000092230us-gaap:FiduciaryAndTrustMember2024-01-012024-03-310000092230us-gaap:FiduciaryAndTrustMember2023-01-012023-03-310000092230us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2024-01-012024-03-310000092230us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2023-01-012023-03-310000092230us-gaap:CreditCardMember2024-01-012024-03-310000092230us-gaap:CreditCardMember2023-01-012023-03-310000092230us-gaap:DepositAccountMember2024-01-012024-03-310000092230us-gaap:DepositAccountMember2023-01-012023-03-310000092230us-gaap:MortgageBankingMember2024-01-012024-03-310000092230us-gaap:MortgageBankingMember2023-01-012023-03-310000092230tfc:LendingRelatedMember2024-01-012024-03-310000092230tfc:LendingRelatedMember2023-01-012023-03-310000092230us-gaap:FinancialServiceOtherMember2024-01-012024-03-310000092230us-gaap:FinancialServiceOtherMember2023-01-012023-03-310000092230us-gaap:ServiceOtherMember2024-01-012024-03-310000092230us-gaap:ServiceOtherMember2023-01-012023-03-310000092230us-gaap:CommonStockMember2022-12-310000092230us-gaap:PreferredStockMember2022-12-310000092230us-gaap:AdditionalPaidInCapitalMember2022-12-310000092230us-gaap:RetainedEarningsMember2022-12-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000092230us-gaap:NoncontrollingInterestMember2022-12-3100000922302022-12-310000092230us-gaap:RetainedEarningsMember2023-01-012023-03-310000092230us-gaap:NoncontrollingInterestMember2023-01-012023-03-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310000092230us-gaap:CommonStockMember2023-01-012023-03-310000092230us-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-310000092230us-gaap:CommonStockMember2023-03-310000092230us-gaap:PreferredStockMember2023-03-310000092230us-gaap:AdditionalPaidInCapitalMember2023-03-310000092230us-gaap:RetainedEarningsMember2023-03-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-310000092230us-gaap:NoncontrollingInterestMember2023-03-3100000922302023-03-310000092230us-gaap:CommonStockMember2023-12-310000092230us-gaap:PreferredStockMember2023-12-310000092230us-gaap:AdditionalPaidInCapitalMember2023-12-310000092230us-gaap:RetainedEarningsMember2023-12-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310000092230us-gaap:NoncontrollingInterestMember2023-12-310000092230us-gaap:RetainedEarningsMember2024-01-012024-03-310000092230us-gaap:NoncontrollingInterestMember2024-01-012024-03-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310000092230us-gaap:CommonStockMember2024-01-012024-03-310000092230us-gaap:AdditionalPaidInCapitalMember2024-01-012024-03-310000092230us-gaap:CommonStockMember2024-03-310000092230us-gaap:PreferredStockMember2024-03-310000092230us-gaap:AdditionalPaidInCapitalMember2024-03-310000092230us-gaap:RetainedEarningsMember2024-03-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-310000092230us-gaap:NoncontrollingInterestMember2024-03-310000092230tfc:InsuranceHoldingsMemberus-gaap:SubsequentEventMember2024-05-060000092230tfc:InsuranceHoldingsMemberus-gaap:SubsequentEventMember2024-05-062024-05-060000092230tfc:InsuranceHoldingsMember2024-03-310000092230tfc:InsuranceHoldingsMember2023-12-310000092230us-gaap:MaturityOvernightMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:USTreasurySecuritiesMember2024-03-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:USTreasurySecuritiesMember2024-03-310000092230us-gaap:Maturity30To90DaysMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:USTreasurySecuritiesMember2024-03-310000092230us-gaap:USTreasurySecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000092230us-gaap:MaturityOvernightMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:USTreasurySecuritiesMember2023-12-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:USTreasurySecuritiesMember2023-12-310000092230us-gaap:USTreasurySecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2023-12-310000092230us-gaap:MaturityOvernightMemberus-gaap:MunicipalNotesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:MunicipalNotesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000092230us-gaap:Maturity30To90DaysMemberus-gaap:MunicipalNotesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000092230us-gaap:MunicipalNotesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000092230us-gaap:MaturityOvernightMemberus-gaap:MunicipalNotesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2023-12-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:MunicipalNotesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2023-12-310000092230us-gaap:MunicipalNotesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2023-12-310000092230us-gaap:MaturityOvernightMemberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000092230us-gaap:Maturity30To90DaysMemberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000092230us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000092230us-gaap:MaturityOvernightMemberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2023-12-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2023-12-310000092230us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2023-12-310000092230us-gaap:MaturityOvernightMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000092230us-gaap:Maturity30To90DaysMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000092230us-gaap:CorporateDebtSecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000092230us-gaap:MaturityOvernightMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2023-12-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2023-12-310000092230us-gaap:CorporateDebtSecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2023-12-310000092230us-gaap:MaturityOvernightMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000092230us-gaap:Maturity30To90DaysMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-03-310000092230us-gaap:MaturityOvernightMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2023-12-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2023-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2023-12-310000092230us-gaap:USTreasurySecuritiesMember2024-03-310000092230us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2024-03-310000092230us-gaap:ResidentialMortgageBackedSecuritiesMember2024-03-310000092230us-gaap:CommercialMortgageBackedSecuritiesMember2024-03-310000092230us-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2024-03-310000092230us-gaap:OtherInvestmentsMember2024-03-310000092230us-gaap:USTreasurySecuritiesMember2023-12-310000092230us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2023-12-310000092230us-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000092230us-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310000092230us-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2023-12-310000092230us-gaap:OtherInvestmentsMember2023-12-310000092230us-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2024-03-310000092230us-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMember2024-03-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMembertfc:CommercialAndIndustrialMember2024-03-310000092230tfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2024-03-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2024-03-310000092230us-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2024-03-310000092230us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000092230tfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000092230us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:ConstructionLoansMember2024-03-310000092230tfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2024-03-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2024-03-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:ResidentialMortgageMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:ResidentialMortgageMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialMortgageMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:HomeEquityLendingMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:FinancingReceivables30To89DaysPastDueMembertfc:HomeEquityLendingMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembertfc:HomeEquityLendingMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:HomeEquityLendingMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMembertfc:FinancingReceivables30To89DaysPastDueMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000092230us-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMembertfc:OtherConsumerLendingMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:FinancingReceivables30To89DaysPastDueMembertfc:OtherConsumerLendingMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembertfc:OtherConsumerLendingMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:OtherConsumerLendingMember2024-03-310000092230us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000092230us-gaap:CreditCardReceivablesMembertfc:FinancingReceivables30To89DaysPastDueMember2024-03-310000092230us-gaap:CreditCardReceivablesMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000092230us-gaap:CreditCardReceivablesMember2024-03-310000092230us-gaap:FinancialAssetNotPastDueMember2024-03-310000092230tfc:FinancingReceivables30To89DaysPastDueMember2024-03-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMemberus-gaap:ResidentialMortgageMember2024-03-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMembertfc:CommercialAndIndustrialMember2023-12-310000092230tfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-12-310000092230us-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-12-310000092230us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000092230tfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000092230us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:ConstructionLoansMember2023-12-310000092230tfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:ResidentialMortgageMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:ResidentialMortgageMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialMortgageMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:HomeEquityLendingMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:FinancingReceivables30To89DaysPastDueMembertfc:HomeEquityLendingMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembertfc:HomeEquityLendingMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:HomeEquityLendingMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMembertfc:FinancingReceivables30To89DaysPastDueMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000092230us-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMembertfc:OtherConsumerLendingMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:FinancingReceivables30To89DaysPastDueMembertfc:OtherConsumerLendingMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembertfc:OtherConsumerLendingMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:OtherConsumerLendingMember2023-12-310000092230us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000092230us-gaap:CreditCardReceivablesMembertfc:FinancingReceivables30To89DaysPastDueMember2023-12-310000092230us-gaap:CreditCardReceivablesMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000092230us-gaap:CreditCardReceivablesMember2023-12-310000092230us-gaap:FinancialAssetNotPastDueMember2023-12-310000092230tfc:FinancingReceivables30To89DaysPastDueMember2023-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMemberus-gaap:ResidentialMortgageMember2023-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMembertfc:CommercialAndIndustrialMember2024-03-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMembertfc:CommercialAndIndustrialMember2024-03-310000092230us-gaap:SubstandardMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2024-03-310000092230us-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2024-03-310000092230us-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2024-01-012024-03-310000092230us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMember2024-03-310000092230us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMember2024-03-310000092230us-gaap:CommercialRealEstateMemberus-gaap:SubstandardMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000092230us-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000092230us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-01-012024-03-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:PassMember2024-03-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberus-gaap:ConstructionLoansMember2024-03-310000092230us-gaap:SubstandardMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2024-03-310000092230us-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2024-03-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:ResidentialMortgageMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMembertfc:HomeEquityLendingMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:HomeEquityLendingMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310000092230us-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMembertfc:OtherConsumerLendingMember2024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:OtherConsumerLendingMember2024-01-012024-03-310000092230us-gaap:CreditCardReceivablesMember2024-01-012024-03-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMembertfc:CommercialAndIndustrialMember2023-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMembertfc:CommercialAndIndustrialMember2023-12-310000092230us-gaap:SubstandardMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-12-310000092230us-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-12-310000092230us-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-01-012023-12-310000092230us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMember2023-12-310000092230us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMember2023-12-310000092230us-gaap:CommercialRealEstateMemberus-gaap:SubstandardMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000092230us-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000092230us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:PassMember2023-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberus-gaap:ConstructionLoansMember2023-12-310000092230us-gaap:SubstandardMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-12-310000092230us-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:ResidentialMortgageMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMembertfc:HomeEquityLendingMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:HomeEquityLendingMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000092230us-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMembertfc:OtherConsumerLendingMember2023-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:OtherConsumerLendingMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:StudentLoanMember2023-01-012023-12-310000092230us-gaap:CreditCardReceivablesMember2023-01-012023-12-3100000922302023-01-012023-12-310000092230us-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2022-12-310000092230us-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-01-012023-03-310000092230us-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-03-310000092230us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2022-12-310000092230us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-03-310000092230us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-03-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2022-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-01-012023-03-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2022-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:HomeEquityLendingMember2022-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:HomeEquityLendingMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:HomeEquityLendingMember2023-03-310000092230us-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230us-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2023-01-012023-03-310000092230us-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:OtherConsumerLendingMember2022-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:OtherConsumerLendingMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:OtherConsumerLendingMember2023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:StudentLoanMember2022-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:StudentLoanMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:StudentLoanMember2023-03-310000092230us-gaap:CreditCardReceivablesMember2022-12-310000092230us-gaap:CreditCardReceivablesMember2023-01-012023-03-310000092230us-gaap:CreditCardReceivablesMember2023-03-310000092230us-gaap:AllowanceForLoanAndLeaseLossesMember2022-12-310000092230us-gaap:AllowanceForLoanAndLeaseLossesMember2023-01-012023-03-310000092230us-gaap:AllowanceForLoanAndLeaseLossesMember2023-03-310000092230us-gaap:UnfundedLoanCommitmentMember2022-12-310000092230us-gaap:UnfundedLoanCommitmentMember2023-01-012023-03-310000092230us-gaap:UnfundedLoanCommitmentMember2023-03-310000092230us-gaap:AllowanceForCreditLossMember2022-12-310000092230us-gaap:AllowanceForCreditLossMember2023-01-012023-03-310000092230us-gaap:AllowanceForCreditLossMember2023-03-310000092230us-gaap:AllowanceForLoanAndLeaseLossesMember2023-12-310000092230us-gaap:AllowanceForLoanAndLeaseLossesMember2024-01-012024-03-310000092230us-gaap:AllowanceForLoanAndLeaseLossesMember2024-03-310000092230us-gaap:UnfundedLoanCommitmentMember2023-12-310000092230us-gaap:UnfundedLoanCommitmentMember2024-01-012024-03-310000092230us-gaap:UnfundedLoanCommitmentMember2024-03-310000092230us-gaap:AllowanceForCreditLossMember2023-12-310000092230us-gaap:AllowanceForCreditLossMember2024-01-012024-03-310000092230us-gaap:AllowanceForCreditLossMember2024-03-310000092230us-gaap:CommercialPortfolioSegmentMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMember2024-01-012024-03-310000092230tfc:HeldForSaleMemberMember2024-03-310000092230tfc:HeldForSaleMemberMember2023-12-310000092230tfc:RenewalsMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2024-01-012024-03-310000092230us-gaap:ExtendedMaturityMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2024-01-012024-03-310000092230tfc:CapitalizationsMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2024-01-012024-03-310000092230us-gaap:PaymentDeferralMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2024-01-012024-03-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ExtendedMaturityAndInterestRateReductionMembertfc:CommercialAndIndustrialMember2024-01-012024-03-310000092230tfc:CombinationCapitalizationAndTermExtensionMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2024-01-012024-03-310000092230tfc:CombinationCapitalizationInterestRateAndTermExtensionMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2024-01-012024-03-310000092230tfc:OtherLoanModificationsMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2024-01-012024-03-310000092230tfc:RenewalsMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-01-012024-03-310000092230us-gaap:ExtendedMaturityMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-01-012024-03-310000092230tfc:CapitalizationsMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-01-012024-03-310000092230us-gaap:PaymentDeferralMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-01-012024-03-310000092230us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000092230tfc:CombinationCapitalizationAndTermExtensionMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-01-012024-03-310000092230tfc:CombinationCapitalizationInterestRateAndTermExtensionMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-01-012024-03-310000092230tfc:OtherLoanModificationsMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-01-012024-03-310000092230tfc:RenewalsMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2024-01-012024-03-310000092230us-gaap:ExtendedMaturityMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2024-01-012024-03-310000092230tfc:CapitalizationsMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2024-01-012024-03-310000092230us-gaap:PaymentDeferralMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2024-01-012024-03-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000092230tfc:CombinationCapitalizationAndTermExtensionMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2024-01-012024-03-310000092230tfc:CombinationCapitalizationInterestRateAndTermExtensionMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2024-01-012024-03-310000092230tfc:OtherLoanModificationsMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:RenewalsMemberus-gaap:ResidentialMortgageMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ExtendedMaturityMemberus-gaap:ResidentialMortgageMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CapitalizationsMemberus-gaap:ResidentialMortgageMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PaymentDeferralMemberus-gaap:ResidentialMortgageMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CombinationCapitalizationAndTermExtensionMemberus-gaap:ResidentialMortgageMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CombinationCapitalizationInterestRateAndTermExtensionMemberus-gaap:ResidentialMortgageMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:OtherLoanModificationsMemberus-gaap:ResidentialMortgageMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:RenewalsMembertfc:HomeEquityLendingMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ExtendedMaturityMembertfc:HomeEquityLendingMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CapitalizationsMembertfc:HomeEquityLendingMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PaymentDeferralMembertfc:HomeEquityLendingMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:HomeEquityLendingMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CombinationCapitalizationAndTermExtensionMembertfc:HomeEquityLendingMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CombinationCapitalizationInterestRateAndTermExtensionMembertfc:HomeEquityLendingMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:OtherLoanModificationsMembertfc:HomeEquityLendingMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMembertfc:RenewalsMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMemberus-gaap:ExtendedMaturityMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMembertfc:CapitalizationsMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMemberus-gaap:PaymentDeferralMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMembertfc:CombinationCapitalizationAndTermExtensionMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMembertfc:CombinationCapitalizationInterestRateAndTermExtensionMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMembertfc:OtherLoanModificationsMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:RenewalsMembertfc:OtherConsumerLendingMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ExtendedMaturityMembertfc:OtherConsumerLendingMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CapitalizationsMembertfc:OtherConsumerLendingMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PaymentDeferralMembertfc:OtherConsumerLendingMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:OtherConsumerLendingMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CombinationCapitalizationAndTermExtensionMembertfc:OtherConsumerLendingMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CombinationCapitalizationInterestRateAndTermExtensionMembertfc:OtherConsumerLendingMember2024-01-012024-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:OtherLoanModificationsMembertfc:OtherConsumerLendingMember2024-01-012024-03-310000092230us-gaap:CreditCardReceivablesMembertfc:RenewalsMember2024-01-012024-03-310000092230us-gaap:CreditCardReceivablesMemberus-gaap:ExtendedMaturityMember2024-01-012024-03-310000092230us-gaap:CreditCardReceivablesMembertfc:CapitalizationsMember2024-01-012024-03-310000092230us-gaap:CreditCardReceivablesMemberus-gaap:PaymentDeferralMember2024-01-012024-03-310000092230us-gaap:CreditCardReceivablesMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000092230us-gaap:CreditCardReceivablesMembertfc:CombinationCapitalizationAndTermExtensionMember2024-01-012024-03-310000092230us-gaap:CreditCardReceivablesMembertfc:CombinationCapitalizationInterestRateAndTermExtensionMember2024-01-012024-03-310000092230us-gaap:CreditCardReceivablesMembertfc:OtherLoanModificationsMember2024-01-012024-03-310000092230tfc:RenewalsMember2024-01-012024-03-310000092230us-gaap:ExtendedMaturityMember2024-01-012024-03-310000092230tfc:CapitalizationsMember2024-01-012024-03-310000092230us-gaap:PaymentDeferralMember2024-01-012024-03-310000092230us-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000092230tfc:CombinationCapitalizationAndTermExtensionMember2024-01-012024-03-310000092230tfc:CombinationCapitalizationInterestRateAndTermExtensionMember2024-01-012024-03-310000092230tfc:OtherLoanModificationsMember2024-01-012024-03-310000092230tfc:RenewalsMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-01-012023-03-310000092230us-gaap:ExtendedMaturityMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-01-012023-03-310000092230tfc:CapitalizationsMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-01-012023-03-310000092230us-gaap:PaymentDeferralMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-01-012023-03-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ExtendedMaturityAndInterestRateReductionMembertfc:CommercialAndIndustrialMember2023-01-012023-03-310000092230tfc:CombinationCapitalizationAndTermExtensionMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-01-012023-03-310000092230tfc:CombinationCapitalizationInterestRateAndTermExtensionMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-01-012023-03-310000092230tfc:OtherLoanModificationsMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-01-012023-03-310000092230tfc:RenewalsMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-03-310000092230us-gaap:ExtendedMaturityMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-03-310000092230tfc:CapitalizationsMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-03-310000092230us-gaap:PaymentDeferralMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-03-310000092230us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-03-310000092230tfc:CombinationCapitalizationAndTermExtensionMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-03-310000092230tfc:CombinationCapitalizationInterestRateAndTermExtensionMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-03-310000092230tfc:OtherLoanModificationsMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-03-310000092230tfc:RenewalsMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-01-012023-03-310000092230us-gaap:ExtendedMaturityMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-01-012023-03-310000092230tfc:CapitalizationsMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-01-012023-03-310000092230us-gaap:PaymentDeferralMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-01-012023-03-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-03-310000092230tfc:CombinationCapitalizationAndTermExtensionMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-01-012023-03-310000092230tfc:CombinationCapitalizationInterestRateAndTermExtensionMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-01-012023-03-310000092230tfc:OtherLoanModificationsMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:RenewalsMemberus-gaap:ResidentialMortgageMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ExtendedMaturityMemberus-gaap:ResidentialMortgageMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CapitalizationsMemberus-gaap:ResidentialMortgageMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PaymentDeferralMemberus-gaap:ResidentialMortgageMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CombinationCapitalizationAndTermExtensionMemberus-gaap:ResidentialMortgageMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CombinationCapitalizationInterestRateAndTermExtensionMemberus-gaap:ResidentialMortgageMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:OtherLoanModificationsMemberus-gaap:ResidentialMortgageMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:RenewalsMembertfc:HomeEquityLendingMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ExtendedMaturityMembertfc:HomeEquityLendingMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CapitalizationsMembertfc:HomeEquityLendingMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PaymentDeferralMembertfc:HomeEquityLendingMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:HomeEquityLendingMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CombinationCapitalizationAndTermExtensionMembertfc:HomeEquityLendingMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CombinationCapitalizationInterestRateAndTermExtensionMembertfc:HomeEquityLendingMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:OtherLoanModificationsMembertfc:HomeEquityLendingMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMembertfc:RenewalsMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMemberus-gaap:ExtendedMaturityMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMembertfc:CapitalizationsMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMemberus-gaap:PaymentDeferralMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMembertfc:CombinationCapitalizationAndTermExtensionMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMembertfc:CombinationCapitalizationInterestRateAndTermExtensionMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMembertfc:OtherLoanModificationsMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:RenewalsMembertfc:OtherConsumerLendingMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ExtendedMaturityMembertfc:OtherConsumerLendingMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CapitalizationsMembertfc:OtherConsumerLendingMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PaymentDeferralMembertfc:OtherConsumerLendingMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:OtherConsumerLendingMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CombinationCapitalizationAndTermExtensionMembertfc:OtherConsumerLendingMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CombinationCapitalizationInterestRateAndTermExtensionMembertfc:OtherConsumerLendingMember2023-01-012023-03-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:OtherLoanModificationsMembertfc:OtherConsumerLendingMember2023-01-012023-03-310000092230us-gaap:CreditCardReceivablesMembertfc:RenewalsMember2023-01-012023-03-310000092230us-gaap:CreditCardReceivablesMemberus-gaap:ExtendedMaturityMember2023-01-012023-03-310000092230us-gaap:CreditCardReceivablesMembertfc:CapitalizationsMember2023-01-012023-03-310000092230us-gaap:CreditCardReceivablesMemberus-gaap:PaymentDeferralMember2023-01-012023-03-310000092230us-gaap:CreditCardReceivablesMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-03-310000092230us-gaap:CreditCardReceivablesMembertfc:CombinationCapitalizationAndTermExtensionMember2023-01-012023-03-310000092230us-gaap:CreditCardReceivablesMembertfc:CombinationCapitalizationInterestRateAndTermExtensionMember2023-01-012023-03-310000092230us-gaap:CreditCardReceivablesMembertfc:OtherLoanModificationsMember2023-01-012023-03-310000092230tfc:RenewalsMember2023-01-012023-03-310000092230us-gaap:ExtendedMaturityMember2023-01-012023-03-310000092230tfc:CapitalizationsMember2023-01-012023-03-310000092230us-gaap:PaymentDeferralMember2023-01-012023-03-310000092230us-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-03-310000092230tfc:CombinationCapitalizationAndTermExtensionMember2023-01-012023-03-310000092230tfc:CombinationCapitalizationInterestRateAndTermExtensionMember2023-01-012023-03-310000092230tfc:OtherLoanModificationsMember2023-01-012023-03-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310000092230tfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310000092230us-gaap:NonperformingFinancingReceivableMember2024-03-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000092230tfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000092230us-gaap:NonperformingFinancingReceivableMember2023-12-310000092230tfc:RenewalsMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-01-012023-12-310000092230us-gaap:ExtendedMaturityMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-01-012023-12-310000092230tfc:CapitalizationsMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-01-012023-12-310000092230us-gaap:PaymentDeferralMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-01-012023-12-310000092230tfc:CombinationCapitalizationAndTermExtensionMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-01-012023-12-310000092230tfc:CombinationCapitalizationInterestRateAndTermExtensionMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-01-012023-12-310000092230tfc:OtherLoanModificationsMemberus-gaap:CommercialPortfolioSegmentMembertfc:CommercialAndIndustrialMember2023-01-012023-12-310000092230tfc:RenewalsMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-12-310000092230us-gaap:ExtendedMaturityMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-12-310000092230tfc:CapitalizationsMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-12-310000092230us-gaap:PaymentDeferralMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-12-310000092230tfc:CombinationCapitalizationAndTermExtensionMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-12-310000092230tfc:CombinationCapitalizationInterestRateAndTermExtensionMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-12-310000092230tfc:OtherLoanModificationsMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:RenewalsMemberus-gaap:ResidentialMortgageMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ExtendedMaturityMemberus-gaap:ResidentialMortgageMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CapitalizationsMemberus-gaap:ResidentialMortgageMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PaymentDeferralMemberus-gaap:ResidentialMortgageMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CombinationCapitalizationAndTermExtensionMemberus-gaap:ResidentialMortgageMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:CombinationCapitalizationInterestRateAndTermExtensionMemberus-gaap:ResidentialMortgageMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:OtherLoanModificationsMemberus-gaap:ResidentialMortgageMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMembertfc:RenewalsMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMemberus-gaap:ExtendedMaturityMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMembertfc:CapitalizationsMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMemberus-gaap:PaymentDeferralMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMembertfc:CombinationCapitalizationAndTermExtensionMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMembertfc:CombinationCapitalizationInterestRateAndTermExtensionMember2023-01-012023-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AutomobileLoanMembertfc:OtherLoanModificationsMember2023-01-012023-12-310000092230us-gaap:CreditCardReceivablesMembertfc:RenewalsMember2023-01-012023-12-310000092230us-gaap:CreditCardReceivablesMemberus-gaap:ExtendedMaturityMember2023-01-012023-12-310000092230us-gaap:CreditCardReceivablesMembertfc:CapitalizationsMember2023-01-012023-12-310000092230us-gaap:CreditCardReceivablesMemberus-gaap:PaymentDeferralMember2023-01-012023-12-310000092230us-gaap:CreditCardReceivablesMembertfc:CombinationCapitalizationAndTermExtensionMember2023-01-012023-12-310000092230us-gaap:CreditCardReceivablesMembertfc:CombinationCapitalizationInterestRateAndTermExtensionMember2023-01-012023-12-310000092230us-gaap:CreditCardReceivablesMembertfc:OtherLoanModificationsMember2023-01-012023-12-310000092230tfc:RenewalsMember2023-01-012023-12-310000092230us-gaap:ExtendedMaturityMember2023-01-012023-12-310000092230tfc:CapitalizationsMember2023-01-012023-12-310000092230us-gaap:PaymentDeferralMember2023-01-012023-12-310000092230tfc:CombinationCapitalizationAndTermExtensionMember2023-01-012023-12-310000092230tfc:CombinationCapitalizationInterestRateAndTermExtensionMember2023-01-012023-12-310000092230tfc:OtherLoanModificationsMember2023-01-012023-12-310000092230tfc:ConsumerAndSmallBusinessBankingMembertfc:SmallBusinessBankingMember2024-01-012024-03-310000092230tfc:WealthMembertfc:WholesaleBankingMember2024-01-012024-03-310000092230tfc:ConsumerAndSmallBusinessBankingMember2023-12-310000092230tfc:WholesaleBankingMember2023-12-310000092230tfc:ConsumerAndSmallBusinessBankingMember2024-01-012024-03-310000092230tfc:WholesaleBankingMember2024-01-012024-03-310000092230tfc:ConsumerAndSmallBusinessBankingMember2024-03-310000092230tfc:WholesaleBankingMember2024-03-310000092230us-gaap:CoreDepositsMember2024-03-310000092230us-gaap:CoreDepositsMember2023-12-310000092230us-gaap:OtherIntangibleAssetsMember2024-03-310000092230us-gaap:OtherIntangibleAssetsMember2023-12-310000092230us-gaap:ResidentialMortgageMember2024-03-310000092230us-gaap:ResidentialMortgageMember2023-12-310000092230us-gaap:ResidentialMortgageMember2024-01-012024-03-310000092230us-gaap:ResidentialMortgageMember2023-01-012023-03-310000092230us-gaap:BankServicingMemberus-gaap:ResidentialMortgageMember2024-01-012024-03-310000092230us-gaap:BankServicingMemberus-gaap:ResidentialMortgageMember2023-01-012023-03-310000092230us-gaap:ResidentialMortgageMember2023-03-310000092230us-gaap:ResidentialMortgageMember2023-12-310000092230us-gaap:ResidentialMortgageMember2022-12-310000092230us-gaap:ResidentialMortgageMember2024-01-012024-03-310000092230us-gaap:ResidentialMortgageMember2023-01-012023-03-310000092230us-gaap:ResidentialMortgageMember2024-03-310000092230us-gaap:ResidentialMortgageMember2023-03-310000092230srt:MinimumMemberus-gaap:ResidentialMortgageMember2024-01-012024-03-310000092230srt:MaximumMemberus-gaap:ResidentialMortgageMember2024-01-012024-03-310000092230us-gaap:ResidentialMortgageMembersrt:WeightedAverageMember2024-01-012024-03-310000092230srt:MinimumMemberus-gaap:ResidentialMortgageMember2023-01-012023-12-310000092230srt:MaximumMemberus-gaap:ResidentialMortgageMember2023-01-012023-12-310000092230us-gaap:ResidentialMortgageMembersrt:WeightedAverageMember2023-01-012023-12-310000092230us-gaap:ResidentialMortgageMembersrt:WeightedAverageMember2024-03-310000092230us-gaap:ResidentialMortgageMembersrt:WeightedAverageMember2023-12-310000092230us-gaap:FixedRateResidentialMortgageMember2024-03-310000092230us-gaap:FixedRateResidentialMortgageMember2023-12-310000092230us-gaap:AdjustableRateResidentialMortgageMember2024-03-310000092230us-gaap:AdjustableRateResidentialMortgageMember2023-12-310000092230us-gaap:CommercialRealEstateMember2024-03-310000092230us-gaap:CommercialRealEstateMember2023-12-310000092230us-gaap:CommercialRealEstateMember2024-01-012024-03-310000092230us-gaap:CommercialRealEstateMember2023-01-012023-12-310000092230us-gaap:FederalHomeLoanBankAdvancesMember2024-03-310000092230us-gaap:FederalHomeLoanBankAdvancesMember2023-12-310000092230us-gaap:SecuritiesSoldNotYetPurchasedMember2024-03-310000092230us-gaap:SecuritiesSoldNotYetPurchasedMember2023-12-310000092230us-gaap:ShortTermDebtMember2024-03-310000092230us-gaap:ShortTermDebtMember2023-12-310000092230srt:ParentCompanyMemberus-gaap:SeniorNotesMembertfc:FixedRateMember2024-03-310000092230srt:ParentCompanyMemberus-gaap:SeniorNotesMembertfc:FixedRateMember2023-12-310000092230srt:ParentCompanyMembertfc:FloatingRateMemberus-gaap:SeniorNotesMember2024-03-310000092230srt:ParentCompanyMembertfc:FloatingRateMemberus-gaap:SeniorNotesMember2023-12-310000092230us-gaap:SeniorSubordinatedNotesMembersrt:ParentCompanyMembertfc:FixedRateMember2024-03-310000092230us-gaap:SeniorSubordinatedNotesMembersrt:ParentCompanyMembertfc:FixedRateMember2023-12-310000092230srt:ParentCompanyMembertfc:CapitalNoteMember2024-03-310000092230srt:ParentCompanyMembertfc:CapitalNoteMember2023-12-310000092230srt:SubsidiariesMemberus-gaap:SeniorNotesMembertfc:FixedRateMember2024-03-310000092230srt:SubsidiariesMemberus-gaap:SeniorNotesMembertfc:FixedRateMember2023-12-310000092230srt:SubsidiariesMembertfc:FloatingRateMemberus-gaap:SeniorNotesMember2024-03-310000092230srt:SubsidiariesMembertfc:FloatingRateMemberus-gaap:SeniorNotesMember2023-12-310000092230srt:SubsidiariesMemberus-gaap:SeniorSubordinatedNotesMembertfc:FixedRateMember2024-03-310000092230srt:SubsidiariesMemberus-gaap:SeniorSubordinatedNotesMembertfc:FixedRateMember2023-12-310000092230srt:SubsidiariesMemberus-gaap:FederalHomeLoanBankAdvancesMembertfc:FloatingRateMember2024-03-310000092230srt:SubsidiariesMemberus-gaap:FederalHomeLoanBankAdvancesMembertfc:FloatingRateMember2023-12-310000092230srt:SubsidiariesMembertfc:OtherLongTermDebtMember2024-03-310000092230srt:SubsidiariesMembertfc:OtherLongTermDebtMember2023-12-310000092230us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-12-310000092230us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-12-310000092230us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-12-310000092230tfc:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleTransferredToHeldToMaturityMember2022-12-310000092230tfc:AOCIOtherAttributabletoParentMember2022-12-310000092230us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-01-012023-03-310000092230us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-01-012023-03-310000092230us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-01-012023-03-310000092230tfc:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleTransferredToHeldToMaturityMember2023-01-012023-03-310000092230tfc:AOCIOtherAttributabletoParentMember2023-01-012023-03-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-01-012023-03-310000092230us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310000092230us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMembertfc:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleTransferredToHeldToMaturityMember2023-01-012023-03-310000092230tfc:AOCIOtherAttributabletoParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310000092230us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-03-310000092230us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-03-310000092230us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-03-310000092230tfc:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleTransferredToHeldToMaturityMember2023-03-310000092230tfc:AOCIOtherAttributabletoParentMember2023-03-310000092230us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-12-310000092230us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-12-310000092230us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-12-310000092230tfc:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleTransferredToHeldToMaturityMember2023-12-310000092230tfc:AOCIOtherAttributabletoParentMember2023-12-310000092230us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-01-012024-03-310000092230us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-01-012024-03-310000092230us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-01-012024-03-310000092230tfc:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleTransferredToHeldToMaturityMember2024-01-012024-03-310000092230tfc:AOCIOtherAttributabletoParentMember2024-01-012024-03-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-01-012024-03-310000092230us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310000092230us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMembertfc:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleTransferredToHeldToMaturityMember2024-01-012024-03-310000092230tfc:AOCIOtherAttributabletoParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310000092230us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-03-310000092230us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-03-310000092230us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-03-310000092230tfc:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleTransferredToHeldToMaturityMember2024-03-310000092230tfc:AOCIOtherAttributabletoParentMember2024-03-310000092230tfc:InsuranceHoldingsMember2024-01-012024-03-310000092230tfc:InsuranceHoldingsMember2023-01-012023-03-310000092230tfc:AffordablehousingprojectsMember2024-03-310000092230tfc:AffordablehousingprojectsMember2023-12-310000092230tfc:RenewableEnergyInvestmentsMember2024-03-310000092230tfc:RenewableEnergyInvestmentsMember2023-12-310000092230us-gaap:PrivateEquityFundsMember2024-03-310000092230us-gaap:PrivateEquityFundsMember2023-12-310000092230tfc:AffordablehousingprojectsMember2024-01-012024-03-310000092230tfc:AffordablehousingprojectsMember2023-01-012023-03-310000092230tfc:OtherCommunityDevelopmentInvestmentMember2024-01-012024-03-310000092230tfc:OtherCommunityDevelopmentInvestmentMember2023-01-012023-03-310000092230us-gaap:UnfundedLoanCommitmentMember2024-03-310000092230us-gaap:UnfundedLoanCommitmentMember2023-12-310000092230tfc:OtherConsumerLendingMember2024-03-310000092230tfc:OtherConsumerLendingMember2023-12-310000092230us-gaap:StandbyLettersOfCreditMember2024-03-310000092230us-gaap:StandbyLettersOfCreditMember2023-12-310000092230us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2024-03-310000092230us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-12-310000092230us-gaap:AssetPledgedAsCollateralMember2024-03-310000092230us-gaap:AssetPledgedAsCollateralMember2023-12-310000092230us-gaap:FederalReserveBankAdvancesMemberus-gaap:AssetPledgedAsCollateralMember2024-03-310000092230us-gaap:FederalReserveBankAdvancesMemberus-gaap:AssetPledgedAsCollateralMember2023-12-310000092230us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:AssetPledgedAsCollateralMember2024-03-310000092230us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:AssetPledgedAsCollateralMember2023-12-310000092230us-gaap:FederalReserveBankAdvancesMember2024-03-310000092230us-gaap:FederalReserveBankAdvancesMember2023-12-310000092230us-gaap:FederalHomeLoanBankAdvancesMember2024-03-310000092230us-gaap:FederalHomeLoanBankAdvancesMember2023-12-310000092230srt:MaximumMember2024-03-3100000922302023-10-012024-03-3100000922302023-10-012023-12-310000092230us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMember2024-03-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:USTreasurySecuritiesMember2024-03-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:USTreasurySecuritiesMember2024-03-310000092230us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2024-03-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2024-03-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2024-03-310000092230us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel1Member2024-03-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000092230us-gaap:CorporateDebtSecuritiesMember2024-03-310000092230us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2024-03-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMember2024-03-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2024-03-310000092230us-gaap:LoansMember2024-03-310000092230us-gaap:LoansMemberus-gaap:FairValueInputsLevel1Member2024-03-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:LoansMember2024-03-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:LoansMember2024-03-310000092230us-gaap:OtherInvestmentsMemberus-gaap:FairValueInputsLevel1Member2024-03-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:OtherInvestmentsMember2024-03-310000092230us-gaap:OtherInvestmentsMemberus-gaap:FairValueInputsLevel3Member2024-03-310000092230us-gaap:FairValueInputsLevel1Member2024-03-310000092230us-gaap:FairValueInputsLevel2Member2024-03-310000092230us-gaap:FairValueInputsLevel3Member2024-03-310000092230us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2024-03-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-03-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-03-310000092230us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2024-03-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialMortgageBackedSecuritiesMember2024-03-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialMortgageBackedSecuritiesMember2024-03-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueInputsLevel1Member2024-03-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueInputsLevel2Member2024-03-310000092230us-gaap:FairValueConcentrationOfCreditRiskMasterNettingArrangementsMember2024-03-310000092230us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMember2023-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:USTreasurySecuritiesMember2023-12-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:USTreasurySecuritiesMember2023-12-310000092230us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2023-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2023-12-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2023-12-310000092230us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel1Member2023-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000092230us-gaap:CorporateDebtSecuritiesMember2023-12-310000092230us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2023-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMember2023-12-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2023-12-310000092230us-gaap:LoansMember2023-12-310000092230us-gaap:LoansMemberus-gaap:FairValueInputsLevel1Member2023-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:LoansMember2023-12-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:LoansMember2023-12-310000092230us-gaap:OtherInvestmentsMemberus-gaap:FairValueInputsLevel1Member2023-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:OtherInvestmentsMember2023-12-310000092230us-gaap:OtherInvestmentsMemberus-gaap:FairValueInputsLevel3Member2023-12-310000092230us-gaap:FairValueInputsLevel1Member2023-12-310000092230us-gaap:FairValueInputsLevel2Member2023-12-310000092230us-gaap:FairValueInputsLevel3Member2023-12-310000092230us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2023-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000092230us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2023-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueInputsLevel1Member2023-12-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueInputsLevel2Member2023-12-310000092230us-gaap:FairValueConcentrationOfCreditRiskMasterNettingArrangementsMember2023-12-310000092230us-gaap:LoansReceivableMember2022-12-310000092230us-gaap:ServicingContractsMember2022-12-310000092230us-gaap:DerivativeMember2022-12-310000092230us-gaap:LoansReceivableMember2023-01-012023-03-310000092230us-gaap:ServicingContractsMember2023-01-012023-03-310000092230us-gaap:DerivativeMember2023-01-012023-03-310000092230us-gaap:LoansReceivableMember2023-03-310000092230us-gaap:ServicingContractsMember2023-03-310000092230us-gaap:DerivativeMember2023-03-310000092230us-gaap:LoansReceivableMember2023-12-310000092230us-gaap:ServicingContractsMember2023-12-310000092230us-gaap:DerivativeMember2023-12-310000092230us-gaap:LoansReceivableMember2024-01-012024-03-310000092230us-gaap:ServicingContractsMember2024-01-012024-03-310000092230us-gaap:DerivativeMember2024-01-012024-03-310000092230us-gaap:LoansReceivableMember2024-03-310000092230us-gaap:ServicingContractsMember2024-03-310000092230us-gaap:DerivativeMember2024-03-310000092230us-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMember2024-03-310000092230us-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMember2023-12-310000092230us-gaap:FinanceReceivablesMember2024-03-310000092230us-gaap:FinanceReceivablesMember2023-12-310000092230us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Membertfc:HeldForSaleMemberMember2024-03-310000092230us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Membertfc:HeldForSaleMemberMember2023-12-310000092230us-gaap:FairValueMeasurementsNonrecurringMembertfc:LoansAndLeasesMemberus-gaap:FairValueInputsLevel3Member2024-03-310000092230us-gaap:FairValueMeasurementsNonrecurringMembertfc:LoansAndLeasesMemberus-gaap:FairValueInputsLevel3Member2023-12-310000092230us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:OtherAssetsMember2024-03-310000092230us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:OtherAssetsMember2023-12-310000092230us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Membertfc:HeldForSaleMemberMember2024-01-012024-03-310000092230us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Membertfc:HeldForSaleMemberMember2023-01-012023-03-310000092230us-gaap:FairValueMeasurementsNonrecurringMembertfc:LoansAndLeasesMemberus-gaap:FairValueInputsLevel3Member2024-01-012024-03-310000092230us-gaap:FairValueMeasurementsNonrecurringMembertfc:LoansAndLeasesMemberus-gaap:FairValueInputsLevel3Member2023-01-012023-03-310000092230us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:OtherAssetsMember2024-01-012024-03-310000092230us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:OtherAssetsMember2023-01-012023-03-310000092230us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-03-310000092230us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000092230us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2024-03-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000092230us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2023-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000092230us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2024-03-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000092230us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2023-12-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CommercialLoanMemberus-gaap:SwapMemberus-gaap:CashFlowHedgingMember2024-03-310000092230us-gaap:InterestRateContractMemberus-gaap:CommercialLoanMemberus-gaap:SwapMemberus-gaap:CashFlowHedgingMember2023-12-310000092230us-gaap:InterestRateContractMemberus-gaap:LongTermDebtMemberus-gaap:SwapMemberus-gaap:FairValueHedgingMember2024-03-310000092230us-gaap:InterestRateContractMemberus-gaap:LongTermDebtMemberus-gaap:SwapMemberus-gaap:FairValueHedgingMember2023-12-310000092230us-gaap:InterestRateContractMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:SwapMemberus-gaap:FairValueHedgingMember2024-03-310000092230us-gaap:InterestRateContractMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:SwapMemberus-gaap:FairValueHedgingMember2023-12-310000092230us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMember2024-03-310000092230us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMember2023-12-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:SwapMember2024-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:SwapMember2023-12-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMembertfc:ClientRelatedAndOtherRiskManagementMembertfc:OptionTradesMember2024-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMembertfc:ClientRelatedAndOtherRiskManagementMembertfc:OptionTradesMember2023-12-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMembertfc:ClientRelatedAndOtherRiskManagementMembertfc:ForwardCommitmentsMember2024-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMembertfc:ClientRelatedAndOtherRiskManagementMembertfc:ForwardCommitmentsMember2023-12-310000092230us-gaap:OtherTradingMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMembertfc:ClientRelatedAndOtherRiskManagementMember2024-03-310000092230us-gaap:OtherTradingMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMembertfc:ClientRelatedAndOtherRiskManagementMember2023-12-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:EquityContractMember2024-03-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:EquityContractMember2023-12-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:CreditRiskContractMemberus-gaap:CreditDefaultSwapMember2024-03-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:CreditRiskContractMemberus-gaap:CreditDefaultSwapMember2023-12-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:CreditRiskContractMemberus-gaap:LoansMember2024-03-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:CreditRiskContractMemberus-gaap:LoansMember2023-12-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:LoanParticipationsAndAssignmentsMemberus-gaap:CreditRiskContractMember2024-03-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:LoanParticipationsAndAssignmentsMemberus-gaap:CreditRiskContractMember2023-12-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:TotalReturnSwapMemberus-gaap:CreditRiskContractMember2024-03-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:TotalReturnSwapMemberus-gaap:CreditRiskContractMember2023-12-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:ForeignExchangeContractMember2024-03-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:ForeignExchangeContractMember2023-12-310000092230us-gaap:NondesignatedMemberus-gaap:CommodityContractMembertfc:ClientRelatedAndOtherRiskManagementMember2024-03-310000092230us-gaap:NondesignatedMemberus-gaap:CommodityContractMembertfc:ClientRelatedAndOtherRiskManagementMember2023-12-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMember2024-03-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMember2023-12-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:MortgagesMemberus-gaap:SwapMember2024-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:MortgagesMemberus-gaap:SwapMember2023-12-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:MortgagesMembertfc:OptionTradesMember2024-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:MortgagesMembertfc:OptionTradesMember2023-12-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:MortgagesMember2024-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:MortgagesMember2023-12-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:MortgagesMembertfc:WhenIssuedSecuritiesAndForwardRateAgreementsAndForwardCommitmentsMember2024-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:MortgagesMembertfc:WhenIssuedSecuritiesAndForwardRateAgreementsAndForwardCommitmentsMember2023-12-310000092230us-gaap:OtherTradingMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:MortgagesMember2024-03-310000092230us-gaap:OtherTradingMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:MortgagesMember2023-12-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:MortgagesMember2024-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:MortgagesMember2023-12-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:ServicingContractsMemberus-gaap:SwapMember2024-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:ServicingContractsMemberus-gaap:SwapMember2023-12-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:ServicingContractsMembertfc:OptionTradesMember2024-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:ServicingContractsMembertfc:OptionTradesMember2023-12-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:ServicingContractsMembertfc:WhenIssuedSecuritiesAndForwardRateAgreementsAndForwardCommitmentsMember2024-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:ServicingContractsMembertfc:WhenIssuedSecuritiesAndForwardRateAgreementsAndForwardCommitmentsMember2023-12-310000092230us-gaap:OtherTradingMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:ServicingContractsMember2024-03-310000092230us-gaap:OtherTradingMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:ServicingContractsMember2023-12-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:ServicingContractsMember2024-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:ServicingContractsMember2023-12-310000092230us-gaap:NondesignatedMember2024-03-310000092230us-gaap:NondesignatedMember2023-12-310000092230tfc:DerivativesSubjecttoMasterNettingArrangementMember2024-03-310000092230tfc:DerivativesNotSubjectToMasterNettingArrangementMember2024-03-310000092230us-gaap:ExchangeTradedMember2024-03-310000092230tfc:DerivativesSubjecttoMasterNettingArrangementMember2023-12-310000092230tfc:DerivativesNotSubjectToMasterNettingArrangementMember2023-12-310000092230us-gaap:ExchangeTradedMember2023-12-310000092230us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueHedgingMember2024-03-310000092230us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueHedgingMember2024-03-310000092230us-gaap:NondesignatedMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueHedgingMember2024-03-310000092230us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueHedgingMember2023-12-310000092230us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueHedgingMember2023-12-310000092230us-gaap:NondesignatedMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueHedgingMember2023-12-310000092230us-gaap:LoansAndFinanceReceivablesMemberus-gaap:FairValueHedgingMember2024-03-310000092230us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:LoansAndFinanceReceivablesMemberus-gaap:FairValueHedgingMember2024-03-310000092230us-gaap:NondesignatedMemberus-gaap:LoansAndFinanceReceivablesMemberus-gaap:FairValueHedgingMember2024-03-310000092230us-gaap:LoansAndFinanceReceivablesMemberus-gaap:FairValueHedgingMember2023-12-310000092230us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:LoansAndFinanceReceivablesMemberus-gaap:FairValueHedgingMember2023-12-310000092230us-gaap:NondesignatedMemberus-gaap:LoansAndFinanceReceivablesMemberus-gaap:FairValueHedgingMember2023-12-310000092230us-gaap:FairValueHedgingMember2024-03-310000092230us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMember2024-03-310000092230us-gaap:NondesignatedMemberus-gaap:FairValueHedgingMember2024-03-310000092230us-gaap:FairValueHedgingMember2023-12-310000092230us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMember2023-12-310000092230us-gaap:NondesignatedMemberus-gaap:FairValueHedgingMember2023-12-310000092230us-gaap:DesignatedAsHedgingInstrumentMember2024-03-310000092230us-gaap:InterestRateContractMemberus-gaap:CommercialLoanMemberus-gaap:CashFlowHedgingMember2024-01-012024-03-310000092230us-gaap:InterestRateContractMemberus-gaap:CommercialLoanMemberus-gaap:CashFlowHedgingMember2023-01-012023-03-310000092230us-gaap:InterestRateContractMemberus-gaap:SecuritiesInvestmentMembertfc:NetInterestIncomeMemberus-gaap:FairValueHedgingMember2024-01-012024-03-310000092230us-gaap:InterestRateContractMemberus-gaap:SecuritiesInvestmentMembertfc:NetInterestIncomeMemberus-gaap:FairValueHedgingMember2023-01-012023-03-310000092230us-gaap:InterestRateContractMembertfc:NetInterestIncomeMemberus-gaap:LoansAndFinanceReceivablesMemberus-gaap:FairValueHedgingMember2024-01-012024-03-310000092230us-gaap:InterestRateContractMembertfc:NetInterestIncomeMemberus-gaap:LoansAndFinanceReceivablesMemberus-gaap:FairValueHedgingMember2023-01-012023-03-310000092230us-gaap:InterestRateContractMemberus-gaap:LongTermDebtMembertfc:NetInterestIncomeMemberus-gaap:FairValueHedgingMember2024-01-012024-03-310000092230us-gaap:InterestRateContractMemberus-gaap:LongTermDebtMembertfc:NetInterestIncomeMemberus-gaap:FairValueHedgingMember2023-01-012023-03-310000092230us-gaap:InterestRateContractMembertfc:NetInterestIncomeMemberus-gaap:FairValueHedgingMember2024-01-012024-03-310000092230us-gaap:InterestRateContractMembertfc:NetInterestIncomeMemberus-gaap:FairValueHedgingMember2023-01-012023-03-310000092230us-gaap:CashFlowHedgingMember2024-03-310000092230us-gaap:CashFlowHedgingMember2023-12-310000092230us-gaap:CashFlowHedgingMember2024-01-012024-03-310000092230us-gaap:CashFlowHedgingMember2023-01-012023-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:OtherIncomeMember2024-01-012024-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:OtherIncomeMember2023-01-012023-03-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:ForeignExchangeContractMemberus-gaap:OtherIncomeMember2024-01-012024-03-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:ForeignExchangeContractMemberus-gaap:OtherIncomeMember2023-01-012023-03-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:EquityContractMemberus-gaap:OtherIncomeMember2024-01-012024-03-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:EquityContractMemberus-gaap:OtherIncomeMember2023-01-012023-03-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:CreditRiskContractMemberus-gaap:OtherIncomeMember2024-01-012024-03-310000092230us-gaap:NondesignatedMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:CreditRiskContractMemberus-gaap:OtherIncomeMember2023-01-012023-03-310000092230us-gaap:NondesignatedMemberus-gaap:CommodityContractMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2024-01-012024-03-310000092230us-gaap:NondesignatedMemberus-gaap:CommodityContractMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2023-01-012023-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:RealEstateMemberus-gaap:MortgagesMember2024-01-012024-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:RealEstateMemberus-gaap:MortgagesMember2023-01-012023-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMembertfc:CommercialMortgageBankingIncomeMemberus-gaap:RealEstateMember2024-01-012024-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMembertfc:CommercialMortgageBankingIncomeMemberus-gaap:RealEstateMember2023-01-012023-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:ServicingContractsMemberus-gaap:RealEstateMember2024-01-012024-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:ServicingContractsMemberus-gaap:RealEstateMember2023-01-012023-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:RealEstateMembertfc:LoanServicingRightsCommercialMortgagesMember2024-01-012024-03-310000092230us-gaap:NondesignatedMemberus-gaap:InterestRateContractMemberus-gaap:RealEstateMembertfc:LoanServicingRightsCommercialMortgagesMember2023-01-012023-03-310000092230us-gaap:NondesignatedMember2024-01-012024-03-310000092230us-gaap:NondesignatedMember2023-01-012023-03-310000092230us-gaap:OtherCreditDerivativesMember2024-03-310000092230us-gaap:OtherCreditDerivativesMember2023-12-310000092230us-gaap:TotalReturnSwapMember2024-03-310000092230us-gaap:TotalReturnSwapMember2023-12-310000092230tfc:DealerCounterpartiesMember2024-03-310000092230tfc:DealerCounterpartiesMember2023-12-310000092230tfc:CentralClearingPartiesMember2024-03-310000092230tfc:CentralClearingPartiesMember2023-12-310000092230us-gaap:AssetPledgedAsCollateralMembertfc:CentralClearingPartiesMember2024-03-310000092230us-gaap:AssetPledgedAsCollateralMembertfc:CentralClearingPartiesMember2023-12-310000092230tfc:ConsumerAndSmallBusinessBankingMember2023-01-012023-03-310000092230tfc:WholesaleBankingMember2023-01-012023-03-310000092230tfc:OtherTreasuryCorporateMember2024-01-012024-03-310000092230tfc:OtherTreasuryCorporateMember2023-01-012023-03-310000092230us-gaap:IntersegmentEliminationMembertfc:ConsumerAndSmallBusinessBankingMember2024-01-012024-03-310000092230us-gaap:IntersegmentEliminationMembertfc:ConsumerAndSmallBusinessBankingMember2023-01-012023-03-310000092230us-gaap:IntersegmentEliminationMembertfc:WholesaleBankingMember2024-01-012024-03-310000092230us-gaap:IntersegmentEliminationMembertfc:WholesaleBankingMember2023-01-012023-03-310000092230us-gaap:IntersegmentEliminationMembertfc:OtherTreasuryCorporateMember2024-01-012024-03-310000092230us-gaap:IntersegmentEliminationMembertfc:OtherTreasuryCorporateMember2023-01-012023-03-310000092230us-gaap:IntersegmentEliminationMember2024-01-012024-03-310000092230us-gaap:IntersegmentEliminationMember2023-01-012023-03-310000092230tfc:ConsumerAndSmallBusinessBankingMemberus-gaap:OperatingSegmentsMember2024-01-012024-03-310000092230tfc:ConsumerAndSmallBusinessBankingMemberus-gaap:OperatingSegmentsMember2023-01-012023-03-310000092230tfc:WholesaleBankingMemberus-gaap:OperatingSegmentsMember2024-01-012024-03-310000092230tfc:WholesaleBankingMemberus-gaap:OperatingSegmentsMember2023-01-012023-03-310000092230tfc:OtherTreasuryCorporateMemberus-gaap:OperatingSegmentsMember2024-01-012024-03-310000092230tfc:OtherTreasuryCorporateMemberus-gaap:OperatingSegmentsMember2023-01-012023-03-310000092230us-gaap:OperatingSegmentsMember2024-01-012024-03-310000092230us-gaap:OperatingSegmentsMember2023-01-012023-03-310000092230tfc:ConsumerAndSmallBusinessBankingMemberus-gaap:OperatingSegmentsMember2024-03-310000092230tfc:ConsumerAndSmallBusinessBankingMemberus-gaap:OperatingSegmentsMember2023-03-310000092230tfc:WholesaleBankingMemberus-gaap:OperatingSegmentsMember2024-03-310000092230tfc:WholesaleBankingMemberus-gaap:OperatingSegmentsMember2023-03-310000092230tfc:OtherTreasuryCorporateMemberus-gaap:OperatingSegmentsMember2024-03-310000092230tfc:OtherTreasuryCorporateMemberus-gaap:OperatingSegmentsMember2023-03-310000092230us-gaap:OperatingSegmentsMember2024-03-310000092230us-gaap:OperatingSegmentsMember2023-03-310000092230us-gaap:SubsequentEventMember2024-05-062024-05-060000092230us-gaap:SubsequentEventMember2024-05-060000092230us-gaap:SubsequentEventMembertfc:ReinvestmentFromProceedsMember2024-05-062024-05-060000092230us-gaap:SubsequentEventMembertfc:ReinvestmentFromProceedsMember2024-05-06

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________________________________________________________
FORM 10-Q
_________________________________________________________________

 Quarterly Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
For the quarterly period ended: March 31, 2024
Commission File Number: 1-10853

TRUIST FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
_________________________________________________________________
North Carolina56-0939887
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
214 North Tryon Street
Charlotte,North Carolina28202
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code:(336)733-2000
_________________________________________________________________
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, $5 par valueTFCNew York Stock Exchange
Depositary Shares each representing 1/4,000th interest in a share of Series I Perpetual Preferred StockTFC.PINew York Stock Exchange
5.853% Fixed-to-Floating Rate Normal Preferred Purchase Securities each representing 1/100th interest in a share of Series J Perpetual Preferred StockTFC.PJNew York Stock Exchange
Depositary Shares each representing 1/1,000th interest in a share of Series O Non-Cumulative Perpetual Preferred StockTFC.PONew York Stock Exchange
Depositary Shares each representing 1/1,000th interest in a share of Series R Non-Cumulative Perpetual Preferred StockTFC.PRNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer
Non-accelerated filerSmaller reporting company
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. 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No

At March 31, 2024, 1,338,096,145 shares of the registrant’s common stock, $5 par value, were outstanding.


TABLE OF CONTENTS
TRUIST FINANCIAL CORPORATION
FORM 10-Q
March 31, 2024
Page No.
PART I - Financial Information
Glossary of Defined Terms
Forward-Looking Statements
Item 1.Financial Statements
Consolidated Balance Sheets (Unaudited)
Consolidated Statements of Income (Unaudited)
Consolidated Statements of Comprehensive Income (Unaudited)
Consolidated Statements of Changes in Shareholders’ Equity (Unaudited)
Consolidated Statements of Cash Flows (Unaudited)
Notes to Consolidated Financial Statements (Unaudited)
Note 1. Basis of Presentation
Note 2. Discontinued Operations
Note 3. Securities Financing Activities
Note 4. Investment Securities
Note 5. Loans and ACL
Note 6. Goodwill and Other Intangible Assets
Note 7. Loan Servicing
Note 8. Other Assets and Liabilities
Note 9. Borrowings
Note 10. Shareholders’ Equity
Note 11. AOCI
Note 12. Income Taxes
Note 13. Benefit Plans
Note 14. Commitments and Contingencies
Note 15. Fair Value Disclosures
Note 16. Derivative Financial Instruments
Note 17. Computation of EPS
Note 18. Operating Segments
Note 19. Subsequent Events
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations
Regulatory and Supervisory Considerations
Executive Overview
Analysis of Results of Operations
Analysis of Financial Condition
Risk Management
Liquidity
Capital
Critical Accounting Policies
Item 3.Quantitative and Qualitative Disclosures About Market Risk (see Market Risk in MD&A)
Item 4.Controls and Procedures
PART II - Other Information
Item 1.Legal Proceedings
Item 1A.Risk Factors
Item 2.Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities
Item 3.Defaults Upon Senior Securities - (none)
Item 4.Mine Safety Disclosures - (not applicable)
Item 5.Other Information
Item 6.Exhibits




Glossary of Defined Terms
The following terms may be used throughout this report, including the consolidated financial statements and related notes.
TermDefinition
ACL
Allowance for credit losses
AD and CLAcquisition and development and commercial land
AFS
Available-for-sale
Agency MBS
Mortgage-backed securities issued by a U.S. government agency or GSE
ALCOAsset and Liability Committee
ALLL
Allowance for loan and lease losses
AOCI
Accumulated other comprehensive income (loss)
BCBS
Basel Committee on Banking Supervision
BHC
Bank holding company
BHCA
Bank Holding Company Act of 1956, as amended
BoardTruist’s Board of Directors
BRCBoard Risk Committee
C&CB
Corporate and Commercial Banking, an operating segment prior to the Company’s realignment as of January 1, 2024
CB&W
Consumer Banking and Wealth, an operating segment prior to the Company’s realignment as of January 1, 2024
CCAR
Comprehensive Capital Analysis and Review
CD
Certificate of deposit
CDI
Core deposit intangible
CECLCurrent expected credit loss model
CEO
Chief Executive Officer
CET1
Common equity tier 1
CFO
Chief Financial Officer
CFTCCommodity Futures Trading Commission
CIOChief Information Officer
Company
Truist Financial Corporation and its subsidiaries (interchangeable with “Truist” below)
CPConstruction and permanent
CRE
Commercial real estate
CSBBConsumer and Small Business Banking, an operating segment after the Company’s realignment as of January 1, 2024
DIF
Deposit Insurance Fund administered by the FDIC
EPS
Earnings per common share
Exchange Act
Securities Exchange Act of 1934, as amended
EVEEconomic value of equity
FASB
Financial Accounting Standards Board
FDIC
Federal Deposit Insurance Corporation
FHLB
Federal Home Loan Bank
FHLMC
Federal Home Loan Mortgage Corporation
FNMA
Federal National Mortgage Association
FRB
Board of Governors of the Federal Reserve System
FTE
Full-time equivalent employee
GAAP
Accounting principles generally accepted in the United States of America
GCOGovernance and Controls Organization
GDPGross Domestic Product
GSE
U.S. government-sponsored enterprise
HFI
Held for investment
HQLA
High-quality liquid assets
HTM
Held-to-maturity
IH
Insurance Holdings, a discontinued operating segment following the announcement of the sale of TIH
IPV
Independent price verification
IRRInterest rate risk
LCR
Liquidity Coverage Ratio
LHFS
Loans held for sale
LOCOMLower of cost or market
Market Risk RuleMarket risk capital requirements issued jointly by the OCC, U.S. Treasury, FRB, and FDIC
MBS
Mortgage-backed securities
MD&AManagement’s Discussion and Analysis of Financial Condition and Results of Operations
MRO
Model Risk Oversight
MSR
Mortgage servicing right
NA
Not applicable
NII
Net interest income
NIM
Net interest margin, computed on a TE basis
NM
Not meaningful
NPA
Nonperforming asset
NPL
Nonperforming loan
NSFR
Net stable funding ratio
NYSE
New York Stock Exchange
OAS
Option adjusted spread
OCCOffice of the Comptroller of the Currency
OCI
Other comprehensive income (loss)
Truist Financial Corporation 1


TermDefinition
OPEB
Other post-employment benefit
OREO
Other real estate owned
OT&C
Other, Treasury and Corporate
Parent Company
Truist Financial Corporation, the parent company of Truist Bank and other subsidiaries
PCD
Purchased credit deteriorated loans
ROU assets
Right-of-use assets
RSU
Restricted stock unit
RUFC
Reserve for unfunded lending commitments
S&P
Standard & Poor’s
SBIC
Small Business Investment Company
SCBStress Capital Buffer
SEC
Securities and Exchange Commission
TBVPS
Tangible book value per common share
TE
Taxable-equivalent
TIHTruist Insurance Holdings, LLC, an entity classified as held for sale
TRSTotal Return Swap
Truist
Truist Financial Corporation and its subsidiaries (interchangeable with the “Company” above)
Truist BankTruist Bank, a North Carolina-charted member bank
U.S.
United States of America
U.S. DOJUnited States Department of Justice
U.S. Treasury
United States Department of the Treasury
UPB
Unpaid principal balance
VaR
Value-at-risk
VIE
Variable interest entity
WBWholesale Banking, an operating segment after the Company’s realignment as of January 1, 2024
2 Truist Financial Corporation


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 report, including any information incorporated by reference in this report, contains forward-looking statements. We also may make forward-looking statements in other documents that are filed or furnished with the SEC. In addition, we may make forward-looking statements orally or in writing to investors, analysts, members of the media, and others. All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, and results may differ materially from those set forth in any forward-looking statement. While no list of assumptions, risks, and uncertainties could be complete, some of the factors that may cause actual results or other future events or circumstances to differ from those in forward-looking statements include:

evolving political, business, economic, and market conditions at local, regional, national, and international levels;
monetary, fiscal, and trade laws or policies, including as a result of actions by governmental agencies, central banks, or supranational authorities;
the legal, regulatory, and supervisory environment, including changes in financial-services legislation, regulation, policies, or government officials or other personnel;
our ability to address heightened scrutiny and expectations from supervisory or other governmental authorities and to timely and credibly remediate related concerns or deficiencies;
judicial, regulatory, and administrative inquiries, examinations, investigations, proceedings, disputes, or rulings that create uncertainty for or are adverse to us or the financial-services industry;
the outcomes of judicial, regulatory, and administrative inquiries, examinations, investigations, proceedings, or disputes to which we are or may be subject and our ability to absorb and address any damages or other remedies that are sought or awarded and any collateral consequences;
evolving accounting standards and policies;
the adequacy of our corporate governance, risk-management framework, compliance programs, and internal controls over financial reporting, including our ability to control lapses or deficiencies in financial reporting, to make appropriate estimates, or to effectively mitigate or manage operational risk;
any instability or breakdown in the financial system, including as a result of the actual or perceived soundness of another financial institution or another participant in the financial system;
disruptions and shifts in investor sentiment or behavior in the securities, capital, or other financial markets, including financial or systemic shocks and volatility or changes in market liquidity, interest or currency rates, or valuations;
our ability to cost-effectively fund our businesses and operations, including by accessing long- and short-term funding and liquidity and by retaining and growing client deposits;
changes in any of our credit ratings;
our ability to manage any unexpected outflows of uninsured deposits and avoid selling investment securities or other assets at an unfavorable time or at a loss;
negative market perceptions of our investment portfolio or its value;
adverse publicity or other reputational harm to us, our service providers, or our senior officers;
business and consumer sentiment, preferences, or behavior, including spending, borrowing, or saving by businesses or households;
our ability to execute on strategic and operational plans, including simplifying our businesses, achieving cost-savings targets and lowering expense growth, accelerating franchise momentum, and improving our capital position;
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, including the ability to successfully deploy the proceeds from the sale of TIH and perform our obligations under the transition services arrangements supporting TIH in a cost-effective and efficient manner;
our ability to develop, maintain, and market our products or services or to absorb unanticipated costs or liabilities associated with those products or services;
our ability to innovate, to anticipate the needs of current or future clients, to successfully compete, to increase or hold market share in changing competitive environments, or to deal with pricing or other competitive pressures;
our ability to maintain secure and functional financial, accounting, technology, data processing, or other operating systems or infrastructure, including those that safeguard personal and other sensitive information;
our ability to appropriately underwrite loans that we originate or purchase and to otherwise manage credit risk, including in connection with commercial and consumer mortgage loans;
our ability to satisfactorily and profitably perform loan servicing and similar obligations;
the credit, liquidity, or other financial condition of our clients, counterparties, service providers, or competitors;
our ability to effectively deal with economic, business, or market slowdowns or disruptions;
the efficacy of our methods or models in assessing business strategies or opportunities or in valuing, measuring, estimating, monitoring, or managing positions or risk;
our ability to keep pace with changes in technology that affect us or our clients, counterparties, service providers, or competitors or to maintain rights or interests in associated intellectual property;
our ability to attract, hire, and retain key teammates and to engage in adequate succession planning;
the performance and availability of third-party service providers on whom we rely in delivering products and services to our clients and otherwise in conducting our business and operations;
our ability to detect, prevent, mitigate, and otherwise manage the risk of fraud or misconduct by internal or external parties; our ability to manage and mitigate physical-security and cybersecurity risks, including denial-of-service attacks, hacking, phishing, social-engineering attacks, malware intrusion, data-corruption attempts, system breaches, identity theft, ransomware attacks, environmental conditions, and intentional acts of destruction;
natural or other disasters, calamities, and conflicts, including terrorist events, cyber-warfare, and pandemics;
widespread outages of operational, communication, and other systems;
our ability to maintain appropriate ESG practices, oversight, and disclosures;
policies and other actions of governments to manage and mitigate climate and related environmental risks, and the effects of climate change or the transition to a lower-carbon economy on our business, operations, and reputation; and
other assumptions, risks, or uncertainties described in the Risk Factors (Item 1A), Management’s Discussion and Analysis of Financial Condition and Results of Operations (Item 7), or the Notes to the Consolidated Financial Statements (Item 8) in our Annual Report on Form 10-K or described in any of the Company’s subsequent quarterly or current reports.

Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except as required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, or Current Report on Form 8-K.
Truist Financial Corporation 3


ITEM 1. FINANCIAL STATEMENTS
CONSOLIDATED BALANCE SHEETS
TRUIST FINANCIAL CORPORATION AND SUBSIDIARIES
Unaudited
(Dollars in millions, except per share data, shares in thousands)
Mar 31, 2024Dec 31, 2023
Assets
Cash and due from banks$5,040 $5,000 
Interest-bearing deposits with banks29,510 25,230 
Securities borrowed or purchased under agreements to resell2,091 2,378 
Trading assets at fair value5,268 4,332 
AFS securities at fair value66,050 67,366 
HTM securities (fair value of $43,041 and $44,630, respectively)53,369 54,107 
LHFS (including $1,201 and $852 at fair value, respectively)1,253 1,280 
Loans and leases (including $14 and $15 at fair value, respectively)307,224 312,061 
ALLL(4,803)(4,798)
Loans and leases, net of ALLL302,421 307,263 
Premises and equipment3,274 3,298 
Goodwill17,157 17,156 
CDI and other intangible assets1,816 1,909 
Loan servicing rights at fair value3,417 3,378 
Other assets (including $1,359 and $1,311 at fair value, respectively)36,521 34,997 
Assets of discontinued operations7,772 7,655 
Total assets$534,959 $535,349 
Liabilities
Noninterest-bearing deposits$110,901 $111,624 
Interest-bearing deposits (including $23 and $0 at fair value, respectively)283,364 284,241 
Short-term borrowings (including $2,034 and $1,625 at fair value, respectively)26,329 24,828 
Long-term debt39,071 38,918 
Other liabilities (including $2,990 and $2,597 at fair value, respectively)13,119 12,946 
Liabilities of discontinued operations3,122 3,539 
Total liabilities475,906 476,096 
Shareholders’ Equity
Preferred stock6,673 6,673 
Common stock, $5 par value6,690 6,669 
Additional paid-in capital36,197 36,177 
Retained earnings22,483 22,088 
AOCI, net of deferred income taxes(13,222)(12,506)
Noncontrolling interests232 152 
Total shareholders’ equity59,053 59,253 
Total liabilities and shareholders’ equity$534,959 $535,349 
Common shares outstanding1,338,096 1,333,743 
Common shares authorized2,000,000 2,000,000 
Preferred shares outstanding223 223 
Preferred shares authorized5,000 5,000 

The accompanying notes are an integral part of these consolidated financial statements.
4 Truist Financial Corporation


CONSOLIDATED STATEMENTS OF INCOME
TRUIST FINANCIAL CORPORATION AND SUBSIDIARIES
Unaudited
(Dollars in millions, except per share data, shares in thousands)
Three Months Ended March 31,
20242023
Interest Income  
Interest and fees on loans and leases$4,865 $4,656 
Interest on securities805 752 
Interest on other earning assets514 376 
Total interest income6,184 5,784 
Interest Expense  
Interest on deposits1,964 1,125 
Interest on long-term debt482 514 
Interest on other borrowings366 278 
Total interest expense2,812 1,917 
Net Interest Income3,372 3,867 
Provision for credit losses500 502 
Net Interest Income After Provision for Credit Losses2,872 3,365 
Noninterest Income  
Wealth management income356 339 
Investment banking and trading income323 261 
Card and payment related fees224 230 
Service charges on deposits225 250 
Mortgage banking income97 142 
Lending related fees96 106 
Operating lease income59 67 
Other income66 26 
Total noninterest income1,446 1,421 
Noninterest Expense  
Personnel expense1,630 1,668 
Professional fees and outside processing278 287 
Software expense224 200 
Net occupancy expense160 169 
Amortization of intangibles88 100 
Equipment expense88 102 
Marketing and customer development56 68 
Operating lease depreciation40 46 
Regulatory costs152 75 
Restructuring charges
51 56 
Other expense186 244 
Total noninterest expense2,953 3,015 
Earnings  
Income before income taxes1,365 1,771 
Provision for income taxes232 361 
Net income from continuing operations1,133 1,410 
Net income from discontinued operations67 105 
Net income1,200 1,515 
Noncontrolling interests from discontinued operations3 2 
Preferred stock dividends and other106 103 
Net income available to common shareholders$1,091 $1,410 
Basic earnings from continuing operations$0.77 $0.98 
Basic EPS0.82 1.06 
Diluted earnings from continuing operations0.76 0.98 
Diluted EPS0.81 1.05 
Basic weighted average shares outstanding1,335,091 1,328,602 
Diluted weighted average shares outstanding1,346,904 1,339,480 

The accompanying notes are an integral part of these consolidated financial statements.
Truist Financial Corporation 5


CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
TRUIST FINANCIAL CORPORATION AND SUBSIDIARIES
Unaudited
(Dollars in millions)
Three Months Ended March 31,
20242023
Net income$1,200 $1,515 
OCI, net of tax:  
Net change in net pension and postretirement costs1 (14)
Net change in cash flow hedges(190)125 
Net change in AFS securities(576)853 
Net change in HTM securities51 55 
Other, net(2)1 
Total OCI, net of tax(716)1,020 
Total OCI$484 $2,535 
Income Tax Effect of Items Included in OCI:
Net change in net pension and postretirement costs$ $(3)
Net change in cash flow hedges(58)38 
Net change in AFS securities(177)262 
Net change in HTM securities15 15 
Total income taxes related to OCI$(220)$312 

The accompanying notes are an integral part of these consolidated financial statements.
6 Truist Financial Corporation


CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
TRUIST FINANCIAL CORPORATION AND SUBSIDIARIES
Unaudited
(Dollars in millions, shares in thousands)
Shares of Common StockPreferred StockCommon StockAdditional Paid-In CapitalRetained EarningsAOCINoncontrolling InterestsTotal Shareholders’ Equity
Balance, January 1, 20231,326,829 $6,673 $6,634 $34,544 $26,264 $(13,601)$23 $60,537 
Net income— — — — 1,513 — 2 1,515 
OCI— — — — — 1,020 — 1,020 
Issued in connection with equity awards, net5,089 — 26 (45)(1)— — (20)
Cash dividends declared on common stock— — — — (691)— — (691)
Cash dividends declared on preferred stock— — — — (103)— — (103)
Equity-based compensation expense— — — 83 — — — 83 
Other, net— — — — 56 — (3)53 
Balance, March 31, 20231,331,918 $6,673 $6,660 $34,582 $27,038 $(12,581)$22 $62,394 
Balance, January 1, 20241,333,743 $6,673 $6,669 $36,177 $22,088 $(12,506)$152 $59,253 
Net income— — — — 1,197 — 3 1,200 
OCI— — — — — (716)— (716)
Issued in connection with equity awards, net4,353 — 21 (43)(2)— (24)
Cash dividends declared on common stock— — — — (694)— — (694)
Cash dividends declared on preferred stock— — — — (106)— — (106)
Equity-based compensation expense— — — 63 — — — 63 
Other, net— — —   — 77 77 
Balance, March 31, 20241,338,096 $6,673 $6,690 $36,197 $22,483 $(13,222)$232 $59,053 

The accompanying notes are an integral part of these consolidated financial statements.
Truist Financial Corporation 7


CONSOLIDATED STATEMENTS OF CASH FLOWS(1)
TRUIST FINANCIAL CORPORATION AND SUBSIDIARIES