Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 196

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 2
Chunk 196
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 results and certain qualitative adjustments, which included evaluating the appropriateness of the quantitative models and management’s methodology, testing the completeness and accuracy of the underlying data used in determining the quantitative model results and certain qualitative adjustments, and evaluating the reasonableness of judgments used by management in determining certain qualitative adjustments. Professionals with specialized skill and knowledge were used to assist in evaluating (i) the appropriateness of the quantitative models and (ii) the reasonableness of judgments used by management in determining certain qualitative adjustments.

/s/ PricewaterhouseCoopers LLP

Charlotte, North Carolina

February 25, 2025

We have served as the Company’s auditor since 2002.

Truist Financial Corporation   89

CONSOLIDATED BALANCE SHEETS

TRUIST FINANCIAL CORPORATION AND SUBSIDIARIES(Dollars in millions, except per share data, shares in thousands)Dec 31, 2024Dec 31, 2023AssetsCash and due from banks$5,793 $5,000 Interest-bearing deposits with banks33,975 25,230 Securities borrowed or purchased under agreements to resell2,550 2,378 Trading assets at fair value5,100 4,332 AFS securities at fair value67,464 67,366 HTM securities (fair value of $40,286 and $44,630, respectively)50,640 54,107 LHFS (including $1,233 and $852 at fair value, respectively)1,388 1,280 Loans and leases (including $13 and $15 at fair value, respectively)306,383 312,061 ALLL(4,857)(4,798)Loans and leases, net of ALLL301,526 307,263 Premises and equipment3,225 3,298 Goodwill17,125 17,156 CDI and other intangible assets1,550 1,909 Loan servicing rights at fair value3,708 3,378 Other assets (including $1,271 and $1,311 at fair value, respectively)37,132 34,997 Assets of discontinued operations— 7,655 Total assets$531,176 $535,349 LiabilitiesNoninterest-bearing deposits$107,451 $111,624 Interest-bearing deposits (including $192 and $— at fair value, respectively)283,073