Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 259

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 2
Chunk 259
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ings

The following table presents a summary of short-term borrowings:(Dollars in millions)Dec 31, 2024Dec 31, 2023FHLB advances$17,400 $20,500 Securities sold under agreements to repurchase9,675 2,427 Securities sold short1,896 1,625 Other short-term borrowings234 276 Total short-term borrowings$29,205 $24,828 The following table presents a summary of long-term debt:(Dollars in millions)Dec 31, 2024Dec 31, 2023Stated RateEffective Rate(1)Carrying AmountCarrying AmountMaturityMinMaxTruist Financial Corporation:Fixed rate senior notes(1)2025to20351.13 %7.16 %4.56 %$22,134 $19,808 Floating rate senior notes— 999 Fixed rate subordinated notes(2)(3)202620333.88 6.00 4.34 1,828 1,831 Capital notes(2)202720285.27 5.55 6.30 634 629 Truist Bank:Fixed rate senior notes202520251.50 4.05 1.74 1,744 4,170 Floating rate senior notes— 1,250 Fixed rate subordinated notes(3)202520302.25 3.80 3.33 4,771 4,770 Floating rate FHLB advances202620264.57 4.57 4.57 2,400 4,200 Other long-term debt(4)1,445 1,261 Total long-term debt$34,956 $38,918 (1)Includes the impact of debt issuance costs and purchase accounting, and excludes hedge accounting impacts.(2)Certain senior and subordinated notes convert from fixed to floating one year prior to maturity, and are callable within the final year of maturity at par.(3)Subordinated and capital notes with a remaining maturity of one year or greater qualify under the risk-based capital guidelines as Tier 2 supplementary capital, subject to certain limitations.(4)Includes debt associated with finance leases, tax credit investments, and other.

The following table presents future debt maturities:(Dollars in millions)20252026202720282029ThereafterFuture debt matur