Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 197

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 2
Chunk 197
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 284,241 Short-term borrowings (including $1,896 and $1,625 at fair value, respectively)29,205 24,828 Long-term debt34,956 38,918 Other liabilities (including $2,286 and $2,597 at fair value, respectively)12,812 12,946 Liabilities of discontinued operations— 3,539 Total liabilities467,497 476,096 Shareholders’ EquityPreferred stock5,907 6,673 Common stock, $5 par value6,580 6,669 Additional paid-in capital35,628 36,177 Retained earnings23,777 22,088 AOCI, net of deferred income taxes(8,213)(12,506)Noncontrolling interests— 152 Total shareholders’ equity63,679 59,253 Total liabilities and shareholders’ equity$531,176 $535,349 Common shares outstanding1,315,936 1,333,743 Common shares authorized2,000,000 2,000,000 Preferred shares outstanding216 223 Preferred shares authorized5,000 5,000 

The accompanying notes are an integral part of these consolidated financial statements.

90   Truist Financial Corporation

CONSOLIDATED STATEMENTS OF INCOME

TRUIST FINANCIAL CORPORATION AND SUBSIDIARIES

(Dollars in millions, except per share data, shares in thousands)Year Ended December 31,202420232022Interest Income  Interest and fees on loans and leases$19,230 $19,518 $13,252 Interest on securities3,506 3,066 2,763 Interest on other earning assets2,330 1,868 619 Total interest income25,066 24,452 16,634 Interest Expense  Interest on deposits7,849 6,427 1,145 Interest on long-term debt1,813 2,215 791 Interest on other borrowings1,313 1,286 385 Total interest expense10,975 9,928 2,321 Net Interest Income14,091 14,524 14,313 Provision for credit losses1,870 2,109 777 Net Interest Income After Provision for Credit Losses12,221 12,415 13,536 Noninterest Income  Wealth management income1