Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 250

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 2
Chunk 250
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 in the ways described above during the twelve months preceding December 31, 2024 and December 31, 2023, respectively.Upon Truist’s determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount.

Truist Financial Corporation   123

Truist closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table summarizes the period-end delinquency status and amortized cost of loans that were modified in the last 12 months. The period-end delinquency status of loans that were modified are disclosed at amortized cost and reflect the impact of any paydowns, payoffs, or charge-offs that occurred subsequent to modification.Payment Status (Amortized Cost Basis)December 31, 2024(Dollars in millions)Current30-89 Days Past Due90 Days or More Past DueTotalCommercial:Commercial and industrial$974 $44 $18 $1,036 CRE313 7 3 323 Commercial construction79 — — 79 Consumer:Residential mortgage279 95 102 476 Home equity9 — — 9 Indirect auto1,025 213 35 1,273 Other consumer32 3 1 36 Credit card20 3 2 25 Total$2,731 $365 $161 $3,257 Total nonaccrual loans included above$232 $78 $91 $401 Payment Status (Amortized Cost Basis)December 31, 2023(Dollars in millions)Current30-89 Days Past Due90 Days or More Past DueTotalCommercial:Commercial and industrial$887 $48 $92 $1,027 CRE233 11 1 245 Commercial construction22 — — 22 Consumer:Residential mortgage427 116 90 633 Home equity11 — — 11 Indirect auto730 148 20 898 Other consumer24 1 — 25 Credit card11 3 2 16 Total$2,345 $327 $205 $2,