Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 162

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 2
Chunk 162
---
 2024, compared to 62% at December 31, 2023. Truist deposit accounts are typically based on long-term relationships that include multiple products and services. The amount of deposits above the FDIC’s limit of $250,000 was $179.1 billion and $175.1 billion as of December 31, 2024 and 2023, respectively, calculated using the same methodology as the Call Report for Truist Bank.

The following table summarizes the maturities of time deposit accounts above $250,000:Table 30: Scheduled Maturities of Time Deposits $250,000 and GreaterDecember 31, 2024(Dollars in millions)Three months or less$4,621 Over three through six months3,122 Over six through twelve months2,182 Over twelve months116 Total$10,041 

Truist Financial Corporation   69

The following table presents average deposits:Table 31: Average DepositsThree Months Ended(Dollars in millions)Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Noninterest-bearing deposits$107,968 $106,080 $107,634 $108,888 $114,555 Interest checking107,075 103,899 103,894 103,537 101,722 Money market and savings138,242 136,639 135,264 134,696 137,464 Time deposits36,757 37,726 41,250 41,937 41,592 Total average deposits$390,042 $384,344 $388,042 $389,058 $395,333 

Average deposits for the fourth quarter of 2024 were $390.0 billion, an increase of $5.7 billion, or 1.5%, compared to the prior quarter.

Average noninterest-bearing deposits increased 1.8% compared to the prior quarter and represented 27.7% of total deposits for the fourth quarter of 2024 compared to 27.6% for the third quarter of 2024. Average interest checking increased 3.1%. Average money market and savings accounts increased 1.2%. Average time deposits decreased 2.6%.

Borrowings

The types of short-term borrowings that have been, or