Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 456

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7A
Chunk 456
---
179 $209,422 $215,197 $177,965 $171,825 $169,807 $531,176 $527,694 $547,600 (1)As described above, includes the Company’s investment securities portfolio, most long-term debt, derivative instruments used for balance sheet hedging, short-term liquidity and funding activities, balance sheet risk management, most bank-owned real estate assets, as well as functional activities such as finance, enterprise risk, legal, and enterprise technology and management. Additionally, houses intersegment eliminations, including for residual interest rate risk, intersegment net referral fees, and expense allocations. May also include financial data from business units below the quantitative and qualitative thresholds requiring disclosure.(2)Other direct noninterest expense within the table above includes expenses for occupancy and equipment, professional fees and outside processing, regulatory costs, and other expenses.

160   Truist Financial Corporation

NOTE 22. Parent Company Financial Information

Parent Company - Condensed Balance Sheets(Dollars in millions)December 31,20242023Assets:  Cash and due from banks$21 $22 Interest-bearing deposits with banks11,170 11,264 AFS securities at fair value222 218 Advances to / receivables from subsidiaries:Banking11,292 8,044 Nonbank224 396 Total advances to / receivables from subsidiaries11,516 8,440 Investment in subsidiaries:Banking60,832 57,994 Nonbank4,742 4,666 Total investment in subsidiaries65,574 62,660 Other assets293 258 Total assets$88,796 $82,862 Liabilities and Shareholders’ Equity: Short-term borrowings$137 $196 Long-term debt24,596 23,267 Other liabilities384 298 Total liabilities25,117 23,761 Total shareholders’ equity63,679 59,101 Total liabilities and shareholders’ equity$88,796 $82,862 Parent Company - Condensed Income and Comprehensive Income Statements(Dollars in millions)Year Ended December 31,202420232022Income:   Dividends from subsidiaries:Banking$7,224 $4,925 $4,800 Nonbank137 72 170 Total dividends from subsidiaries7,361 4,997 4,970 Interest and other income from