Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 156

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 2
Chunk 156
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 and prudent client selection.

Truist’s CRE and commercial construction portfolios totaled $28.9 billion as of December 31, 2024, which includes 36% related to multifamily residential, 21% related to industrial, 14% related to office, 13% related to retail, and the remainder composed of hotel and other commercial real estate.

Truist Financial Corporation   65

Our combined CRE and commercial construction office portfolio is primarily composed of multi-tenant, non-gateway properties located within Truist Bank’s footprint. As of December 31, 2024, approximately 97% of these properties are multi-tenant or medical. Additionally, as of December 31, 2024, 34% and 19% of these exposures are scheduled to mature in 2025 and 2026, respectively, with the remainder scheduled to mature in 2027 and beyond.

Table 24: CRE Portfolio Property Type and GeographyDecember 31, 2024December 31, 2023(Dollars in millions)LHFI% of TotalNPLLHFI% of TotalNPLIndustry:Multifamily$5,508 27.0 %$27 $5,731 25.4 %$3 Industrial4,303 21.1 3 4,054 18.0 3 Retail3,530 17.3 33 4,172 18.5 9 Office3,459 17.0 228 4,286 19.0 264 Hotel1,891 9.3 — 2,445 10.8 — Other(1)1,672 8.3 7 1,882 8.3 5 Total CRE$20,363 100.0 %$298 $22,570 100.0 %$284 Geography:Florida$2,594 12.7 %$26 $2,481 11.0 %$5 North Carolina2,212 10.9 10 2,726 12.1 1 Georgia2,010 9.9 80 2,532 11.2 120 California1,683 8.3 — 1,709 7.6 81 Texas1,599 7.9 6 1,611 7.1 —