Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 149

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 2
Chunk 149
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 — — Other consumer396 1,813 351 3 2,563 Total consumer1,194 4,850 6,158 3,628 15,830 Credit card4,661 — — — 4,661 Total variable rate47,203 94,405 15,326 5,583 162,517 Total loans and leases HFI$72,397 $147,959 $53,283 $32,744 $306,383 

Certain residential mortgage loans have an initial period where the borrower is only required to pay the periodic interest. After the interest-only period, the loan will require the payment of both interest and principal over the remaining term. The outstanding balances of variable rate residential mortgage loans in the interest-only phase were approximately $647 million and $317 million at December 31, 2024 and December 31, 2023, respectively.

60   Truist Financial Corporation

The following table presents the composition of average loans and leases:Table 18: Average Loans and LeasesThree Months Ended(Dollars in millions)Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Commercial:Commercial and industrial$153,209 $154,102 $157,043 $158,385 $160,278 CRE20,504 21,481 21,969 22,400 22,755 Commercial construction8,261 7,870 7,645 7,134 6,515 Consumer:Residential mortgage54,390 53,999 54,490 55,070 55,658 Home equity9,675 9,703 9,805 9,930 10,104 Indirect auto22,790 22,121 22,016 22,374 23,368 Other consumer29,355 29,015 28,326 28,285 28,913 Credit card4,926 4,874 4,905 4,923 4,996 Total average loans and leases HFI$303,110 $303,165 $306,199 $308,501 $312,587 

Average loans and leases HFI were flat compared to the prior quarter.

•Average commercial loans decreased 0