Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 160

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 2
Chunk 160
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.1 298 6.2 17.8 Home equity89 1.8 3.1 89 1.9 3.2 Indirect auto955 19.7 7.5 942 19.6 7.3 Other consumer994 20.5 9.6 890 18.5 9.2 Credit card431 8.9 1.6 385 8.0 1.6 Total ALLL4,857 100.0 %100.0 %4,798 100.0 %100.0 %RUFC304  295  Total ACL$5,161  $5,093  

Truist monitors the performance of its home equity loans and lines secured by second liens similarly to other consumer loans and utilizes assumptions specific to these loans in determining the necessary ALLL. Truist also receives notification when the first lien holder, whether Truist or another financial institution, has initiated foreclosure proceedings against the borrower. When notified that the first lien is in the process of foreclosure, Truist obtains valuations to determine if any additional charge-offs or reserves are warranted. These valuations are updated at least annually thereafter.

Truist has limited ability to monitor the delinquency status of the first lien, unless the first lien is held or serviced by Truist. Truist estimates credit losses on second lien loans where the first lien is delinquent based on historical experience; the increased risk of loss on these credits is reflected in the ALLL. As of December 31, 2024, Truist held or serviced the first lien on 33% of its second lien positions.

Other Assets

The components of other assets are presented in the following table:Table 28: Other Assets as of Period End(Dollars in millions)Dec 31, 2024Dec 31, 2023Tax credit and other private equity investments$9,303 $7,898 Bank-owned life insurance7,801 7,716 Prepaid pension assets7,238 6,563 Accrued income2,069 2,085 DTAs, net1,945 3,037 Accounts receivable1,904 997 Leased assets and related assets1,352 1,647 Prepaid expenses1,061 1,083 ROU assets1,015 1