Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 313

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 5
Chunk 313
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 allowance for loan and lease losses and $304 million for the reserve for unfunded commitments. The ALLL ratio was 1.59%, compared to 1.54% at December 31, 2023. The increase in the ALLL ratio primarily reflects increases in reserves related to the CRE, commercial construction, and certain consumer non-real estate portfolios, as well as declines in commercial and industrial balances. The ALLL covered nonperforming loans and leases held for investment 3.4x compared to 3.5x at December 31, 2023. At December 31, 2024, the ALLL was 2.7x annualized net charge-offs, compared to 3.0x at December 31, 2023.

Truist Financial Corporation   67

The following table presents an allocation of the ALLL. The entire amount of the allowance is available to absorb losses occurring in any category of loans and leases.Table 27: Allocation of ALLL by CategoryDecember 31, 2024December 31, 2023(Dollars in millions)Amount% ALLL in Each Category% Loans in Each CategoryAmount% ALLL in Each Category% Loans in Each CategoryCommercial and industrial$1,284 26.4 %50.7 %$1,404 29.4 %51.6 %CRE643 13.2 6.6 616 12.8 7.2 Commercial construction257 5.3 2.8 174 3.6 2.1 Residential mortgage204 4.2 18.1 298 6.2 17.8 Home equity89 1.8 3.1 89 1.9 3.2 Indirect auto955 19.7 7.5 942 19.6 7.3 Other consumer994 20.5 9.6 890 18.5 9.2 Credit card431 8.9 1.6 385 8.0 1.6 Total ALLL4,857 100.0 %100.0 %4,798 100.0 %100.0 %RUFC304  295  Total ACL$5,161  $5,093  

Truist monitors the performance of its home equity loans and lines secured by second liens similarly to other consumer