Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 252

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 2
Chunk 252
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)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 was realigned into the WB segment from the CSBB segment, representing a separate reporting unit in that segment. Third, the small business banking client segmentation was realigned into the CSBB segment from the WB segment. During 2024, the Company entered into an agreement and completed the sale of TIH, which was the principal legal entity of the IH segment. As the operations of TIH were included in discontinued operations prior to the sale of TIH, the Company no longer presents the IH segment as one of its reportable segments.Following the realignment of these business activities, the Company’s three reporting units with goodwill balances are CSBB, WB excluding Wealth, and Wealth. For segment reporting purposes, the Wealth reporting unit resides in WB. In conjunction with these realignments, goodwill of $1.7 billion was reassigned from CSBB to Wealth,