Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 406

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7A
Chunk 406
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6 90 Indirect auto— 1 — 17 — 2 20 Credit card— — — — — 2 2 Total$73 $14 $6 $71 $31 $10 $205 TDRsThe primary type of modification for TDRs designated in 2022 is summarized in the table below. TDR balances represent the recorded investment at the end of the quarter in which the modification was made. The prior quarter balance represents recorded investment at the beginning of the quarter in which the modification was made. Rate modifications consist of TDRs made with below market interest rates, including those that also have modifications of loan structures.As of / For the Year Ended December 31, 2022Type of ModificationPrior Quarter Loan BalanceALLL at Period End(Dollars in millions)RateStructureNewly designated TDRs:Commercial$66 $10 $78 $9 Consumer496 627 1,107 56 Credit card8 — 8 4 Re-modification of previously designated TDRs113 133 Unearned Income, Discounts, and Net Deferred Loan Fees and CostsThe following table presents additional information about loans and leases:(Dollars in millions)Dec 31, 2024Dec 31, 2023Unearned income, discounts, and net deferred loan fees and costs$595 $553 

NOTE 6. Premises and Equipment

A summary of premises and equipment is presented in the accompanying table:December 31,(Dollars in millions)Estimated Useful Life20242023Land and land improvementsIndefinite$751 $743 Buildings and building improvements5-402,578 2,453 Furniture and equipment3-151,494 1,577 Leasehold improvements921 898 Construction in progress 87 164 Finance leases 38 29 Total 5,869 5,864 Less: Accumulated depreciation (2,644)(2,566)Net premises and equipment $3,225 $3,298 

Truist Financial Corporation   125

NOTE 7. Goodwill and Other Intangible Assets

Effective January 1, 2024, several business activities were realigned reflecting updates to the Company’s operating structure. First, the CB&W segment was renamed CSBB and the C&CB segment was renamed WB. Second, the Wealth business