Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 297

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 5
Chunk 297
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 cash was 5.22% for the remainder of 2024 including the impact of hedges and based on the Federal Funds futures curve at the time.

•As of December 31, 2024 and December 31, 2023, 41% of the investment securities portfolio was classified as held-to-maturity based on amortized cost, excluding portfolio level basis adjustments.

•As of December 31, 2024, approximately 3.0% of the securities portfolio was variable rate, excluding the impact of swaps, compared to 5.7% as of December 31, 2023.

•The effective duration of the AFS securities portfolio was 5.0 years at December 31, 2024 and 6.1 years at December 31, 2023, excluding the impact of swaps, or 3.3 years at December 31, 2024 and 4.0 years at December 31, 2023, including the impact of swaps. The effective duration of the HTM securities portfolio was 7.0 years at December 31, 2024 and 7.3 years at December 31, 2023.

56   Truist Financial Corporation

The following table presents the securities portfolio by major category of security holdings with ranges of maturities and average yields:Table 15: Securities Yields by Major Category and MaturityDecember 31, 2024(Dollars in millions)AFSHTMFair ValueEffective Yield(1)Amortized CostEffective Yield(1)U.S. Treasury:    Within one year$4,512 4.84 %$— — %One to five years9,480 4.45 — — Five to ten years397 3.60 — — After ten years22 3.02 — — Total14,411 4.55 — — GSE:    Within one year2 3.00 — — One to five years5 2.88 — — Five to ten years11 3.05 — — After ten years385 3.78 — — Total403 3.74 — — Agency MBS – residential:(2)    One to five years88 2.44 — — Five to ten years365 2.88 — — After