Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 404

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7A
Chunk 404
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 of payment deferralIndirect autoProvided 146 days of payment deferralOther consumerProvided 154 days of payment deferralCombination - Capitalization and Term ExtensionResidential mortgageCapitalized a portion of forborne loan and other advanced payments into the outstanding loan balance and extended the term by 99 monthsThe tables above exclude trial modifications totaling $41 million and $47 million as of December 31, 2024 and 2023, respectively. Such modifications will be included in the modification activity disclosure if the borrower successfully completes the trial period and the loan modification is finalized.As of December 31, 2024 and December 31, 2023, Truist had $336 million and $702 million, respectively, in unfunded lending commitments to lend additional funds to borrowers experiencing financial difficulty for which Truist has modified the terms of the loans 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