Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 158

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 2
Chunk 158
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 North Carolina992 11.6 1 777 11.6 — California492 5.8 — 512 7.7 — Other(2)3,259 38.2 2 2,638 39.5 1 Total commercial construction$8,520 100.0 %$3 $6,683 100.0 %$24 

(1)Represents other remaining property types that are deemed to be individually insignificant.

(2)Includes an immaterial amount of non-U.S. loans at December 31, 2024 and $16 million at December 31, 2023. The remainder represents other remaining states that are deemed to be individually insignificant.

See additional information on the commercial portfolios in “Note 5. Loans and ACL,” including loans by origination year and credit quality indicator.

66   Truist Financial Corporation

ACL

Activity related to the ACL is presented in the following tables:Table 26: Activity in ACLYear Ended December 31,(Dollars in millions)202420232022Balance, beginning of period(1)$5,093 $4,649 $4,695 Provision for credit losses1,870 2,109 777 Charge-offs:  Commercial and industrial(395)(390)(143)CRE(316)(166)(13)Commercial construction— (5)(1)Residential mortgage(3)(10)(9)Home equity(9)(10)(13)Indirect auto(591)(531)(411)Other consumer(606)(477)(381)Student— (108)(22)Credit card(296)(223)(176)Total charge-offs(2,216)(1,920)(1,169)Recoveries:  Commercial and industrial87 70 87 CRE34 3 8 Commercial construction2 3 5 Residential mortgage6 6 16 Home equity16 23 25 Indirect auto120 107 91 Other consumer110 78 79 Student— — 1 Credit card38 35 34 Total recoveries413 325 346 Net charge-offs(1,803)(1,595)(823)Other(2)1 (70)— Balance, end of period$5,161 $5,093 $4,649 ACL:(1)ALLL4,857