Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 357

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7A
Chunk 357
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urchase of common stock(1,000)— (250)Redemption of preferred stock(750)— — Cash dividends paid on common stock(2,770)(2,770)(2,656)Cash dividends paid on preferred stock(365)(361)(333)Net cash received (paid) for hedge unwinds(207)(737)(185)Net cash from TIH minority stake sale— 1,922 — Other, net(24)(12)(113)Net cash from financing activities(11,638)(22,266)20,017 Net Change in Cash and Cash Equivalents9,124 9,223 1,126 Cash and Cash Equivalents of Continuing and Discontinued Operations, January 130,644 21,421 20,295 Cash and Cash Equivalents of Continuing and Discontinued Operations, December 31$39,768 $30,644 $21,421 Supplemental Disclosure of Cash Flow Information:Net cash paid (received) during the period for:Interest expense$11,340 $9,138 $2,007 Income taxes830 780 479 Noncash investing activities:Transfer of loans HFI to LHFS600 5,219 549 Transfer of AFS securities to HTM— — 59,436 

(1)Cash flows of discontinued operations are reflected within operating, investing, and financing activities in the Consolidated Statements of Cash Flows. The cash balances of these operations were reported as assets of discontinued operations on the Consolidated Balance Sheets prior to the sale of TIH. Refer to “Note 2. Discontinued Operations” for additional information related to discontinued operations.

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

94   Truist Financial Corporation

NOTE 1. Basis of Presentation

Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Headquartered in Charlotte, North Carolina, Truist has leading market share in many of the high-growth markets in the U.S. and offers a wide range of products and services through wholesale and consumer businesses, including consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending businesses.

Truist Bank, the largest subsidiary of Truist Financial Corporation, was chartered in 1872 and is the oldest bank headquartered in North Carolina. Truist Bank is