Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 301

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 5
Chunk 301
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 information.

The following table summarizes the loan portfolio:Table 16: Loans and Leases as of Period End(Dollars in millions)Dec 31, 2024Dec 31, 2023Commercial:Commercial and industrial$154,848 $160,788 CRE20,363 22,570 Commercial construction8,520 6,683 Consumer:Residential mortgage55,599 55,492 Home equity9,642 10,053 Indirect auto23,089 22,727 Other consumer29,395 28,647 Credit card4,927 5,101 Total loans and leases HFI306,383 312,061 LHFS1,388 1,280 Total loans and leases$307,771 $313,341 

Loans and leases HFI were $306.4 billion at December 31, 2024, down $5.7 billion compared to 2023.

Commercial loans decreased $6.3 billion during 2024 primarily due to declines of $5.9 billion in the commercial and industrial portfolio and $2.2 billion in the CRE portfolio due to lower production, partially offset by an increase in the commercial construction portfolio of $1.8 billion.

Consumer loans and credit cards increased $632 million during 2024 primarily due to a $748 million increase in other consumer primarily due to growth of higher-return point-of-sale lending portfolios (Service Finance and Sheffield), and a $362 million increase in indirect auto primarily due to higher production, partially offset by a $411 million decrease in home equity.

Truist Financial Corporation   59

The following table presents a summary of the loans and leases by scheduled repayment period and interest rate terms. Determinations of maturities are based on scheduled repayments, except when rollovers or extensions are included for purposes of measuring the ACL. Truist’s credit policy typically does not permit automatic renewal of loans. At the scheduled maturity date (including balloon payment date), the client generally must request a new loan to replace the matured loan and execute either a new note or note modification with rate, terms, and conditions negotiated at that time.Table 17: Loan MaturitiesDecember 31, 2024(Dollars in millions)1 Year or Less1 to 5 Years5 to 15 YearsAfter 15 YearsTotalFixed rate:   Commercial:Commercial and industrial$11,084 $14,377 $10