0000092230-23-000034.txt : 20230228 0000092230-23-000034.hdr.sgml : 20230228 20230228164754 ACCESSION NUMBER: 0000092230-23-000034 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 165 CONFORMED PERIOD OF REPORT: 20221231 FILED AS OF DATE: 20230228 DATE AS OF CHANGE: 20230228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TRUIST FINANCIAL CORP CENTRAL INDEX KEY: 0000092230 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 560939887 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10853 FILM NUMBER: 23686560 BUSINESS ADDRESS: STREET 1: 214 NORTH TRYON STREET CITY: CHARLOTTE STATE: NC ZIP: 28202 BUSINESS PHONE: 3367332000 MAIL ADDRESS: STREET 1: 214 NORTH TRYON STREET CITY: CHARLOTTE STATE: NC ZIP: 28202 FORMER COMPANY: FORMER CONFORMED NAME: BB&T CORP DATE OF NAME CHANGE: 19970527 FORMER COMPANY: FORMER CONFORMED NAME: SOUTHERN NATIONAL CORP /NC/ DATE OF NAME CHANGE: 19920703 10-K 1 tfc-20221231.htm 10-K tfc-20221231
0000092230--12-312022FYFALSEFALSE650967327375357123731512867150100332131741911821119945169,614160,497163,6005980462553939370817095881130412915017512011294690205,022182,734187,393176100126451177091321057217915613915,0089,8657,9321651154993236193082166528219121911601013793165,611188,145150,30347,7911,4951,0653,54418231,5823,4361,5511,7312,97158655http://fasb.org/us-gaap/2022#OtherAssetshttp://fasb.org/us-gaap/2022#OtherAssetshttp://fasb.org/us-gaap/2022#OtherLiabilitieshttp://fasb.org/us-gaap/2022#OtherLiabilitieshttp://fasb.org/us-gaap/2022#OtherLiabilitieshttp://fasb.org/us-gaap/2022#OtherLiabilities2023-01-012033-12-312025-01-012025-12-312026-01-012033-12-312027-01-012028-12-312023-01-312023-12-312023-01-012025-12-312023-01-012024-12-312025-01-012030-12-312023-01-012034-12-312024-01-012026-01-012502505.1P5Yhttp://fasb.org/us-gaap/2022#OtherNoninterestExpensehttp://fasb.org/us-gaap/2022#OtherNoninterestExpensehttp://fasb.org/us-gaap/2022#OtherNoninterestExpensehttp://fasb.org/us-gaap/2022#OtherAssetshttp://fasb.org/us-gaap/2022#OtherAssetshttp://fasb.org/us-gaap/2022#OtherLiabilitieshttp://fasb.org/us-gaap/2022#OtherAssetshttp://fasb.org/us-gaap/2022#OtherLiabilitieshttp://fasb.org/us-gaap/2022#OtherLiabilitieshttp://fasb.org/us-gaap/2022#OtherAssetshttp://fasb.org/us-gaap/2022#OtherLiabilities00000922302022-01-012022-12-310000092230us-gaap:CommonStockMember2022-01-012022-12-310000092230tfc:SeriesIPreferredStockMember2022-01-012022-12-310000092230tfc:SeriesJPreferredStockMember2022-01-012022-12-310000092230tfc:SeriesOPreferredStockMember2022-01-012022-12-310000092230tfc:SeriesRPreferredStockMember2022-01-012022-12-3100000922302023-01-31xbrli:shares00000922302022-06-30iso4217:USD0000092230tfc:ConsumerBankingAndWealthMember2022-01-012022-12-310000092230tfc:ConsumerBankingAndWealthMember2021-01-012021-12-310000092230tfc:ConsumerBankingAndWealthMember2020-01-012020-12-310000092230us-gaap:IntersegmentEliminationMembertfc:ConsumerBankingAndWealthMember2022-01-012022-12-310000092230us-gaap:IntersegmentEliminationMembertfc:ConsumerBankingAndWealthMember2021-01-012021-12-310000092230us-gaap:IntersegmentEliminationMembertfc:ConsumerBankingAndWealthMember2020-01-012020-12-310000092230us-gaap:OperatingSegmentsMembertfc:ConsumerBankingAndWealthMember2022-01-012022-12-310000092230us-gaap:OperatingSegmentsMembertfc:ConsumerBankingAndWealthMember2021-01-012021-12-310000092230us-gaap:OperatingSegmentsMembertfc:ConsumerBankingAndWealthMember2020-01-012020-12-310000092230us-gaap:OperatingSegmentsMembertfc:ConsumerBankingAndWealthMember2022-12-310000092230us-gaap:OperatingSegmentsMembertfc:ConsumerBankingAndWealthMember2021-12-310000092230us-gaap:OperatingSegmentsMembertfc:ConsumerBankingAndWealthMember2020-12-310000092230tfc:CorporateAndCommercialBankingMember2022-01-012022-12-310000092230tfc:CorporateAndCommercialBankingMember2021-01-012021-12-310000092230tfc:CorporateAndCommercialBankingMember2020-01-012020-12-310000092230tfc:CorporateAndCommercialBankingMemberus-gaap:IntersegmentEliminationMember2022-01-012022-12-310000092230tfc:CorporateAndCommercialBankingMemberus-gaap:IntersegmentEliminationMember2021-01-012021-12-310000092230tfc:CorporateAndCommercialBankingMemberus-gaap:IntersegmentEliminationMember2020-01-012020-12-310000092230us-gaap:OperatingSegmentsMembertfc:CorporateAndCommercialBankingMember2022-01-012022-12-310000092230us-gaap:OperatingSegmentsMembertfc:CorporateAndCommercialBankingMember2021-01-012021-12-310000092230us-gaap:OperatingSegmentsMembertfc:CorporateAndCommercialBankingMember2020-01-012020-12-310000092230us-gaap:OperatingSegmentsMembertfc:CorporateAndCommercialBankingMember2022-12-310000092230us-gaap:OperatingSegmentsMembertfc:CorporateAndCommercialBankingMember2021-12-310000092230us-gaap:OperatingSegmentsMembertfc:CorporateAndCommercialBankingMember2020-12-310000092230tfc:InsuranceHoldingsMember2022-01-012022-12-310000092230tfc:InsuranceHoldingsMember2021-01-012021-12-310000092230tfc:InsuranceHoldingsMember2020-01-012020-12-310000092230tfc:InsuranceHoldingsMemberus-gaap:IntersegmentEliminationMember2022-01-012022-12-310000092230tfc:InsuranceHoldingsMemberus-gaap:IntersegmentEliminationMember2021-01-012021-12-310000092230tfc:InsuranceHoldingsMemberus-gaap:IntersegmentEliminationMember2020-01-012020-12-310000092230us-gaap:OperatingSegmentsMembertfc:InsuranceHoldingsMember2022-01-012022-12-310000092230us-gaap:OperatingSegmentsMembertfc:InsuranceHoldingsMember2021-01-012021-12-310000092230us-gaap:OperatingSegmentsMembertfc:InsuranceHoldingsMember2020-01-012020-12-310000092230us-gaap:OperatingSegmentsMembertfc:InsuranceHoldingsMember2022-12-310000092230us-gaap:OperatingSegmentsMembertfc:InsuranceHoldingsMember2021-12-310000092230us-gaap:OperatingSegmentsMembertfc:InsuranceHoldingsMember2020-12-310000092230tfc:OtherTreasuryCorporateMember2022-01-012022-12-310000092230tfc:OtherTreasuryCorporateMember2021-01-012021-12-310000092230tfc:OtherTreasuryCorporateMember2020-01-012020-12-310000092230tfc:OtherTreasuryCorporateMemberus-gaap:IntersegmentEliminationMember2022-01-012022-12-310000092230tfc:OtherTreasuryCorporateMemberus-gaap:IntersegmentEliminationMember2021-01-012021-12-310000092230tfc:OtherTreasuryCorporateMemberus-gaap:IntersegmentEliminationMember2020-01-012020-12-310000092230us-gaap:OperatingSegmentsMembertfc:OtherTreasuryCorporateMember2022-01-012022-12-310000092230us-gaap:OperatingSegmentsMembertfc:OtherTreasuryCorporateMember2021-01-012021-12-310000092230us-gaap:OperatingSegmentsMembertfc:OtherTreasuryCorporateMember2020-01-012020-12-310000092230us-gaap:OperatingSegmentsMembertfc:OtherTreasuryCorporateMember2022-12-310000092230us-gaap:OperatingSegmentsMembertfc:OtherTreasuryCorporateMember2021-12-310000092230us-gaap:OperatingSegmentsMembertfc:OtherTreasuryCorporateMember2020-12-3100000922302022-12-3100000922302021-12-31iso4217:USDxbrli:shares00000922302021-01-012021-12-3100000922302020-01-012020-12-310000092230tfc:InsuranceincomeMember2022-01-012022-12-310000092230tfc:InsuranceincomeMember2021-01-012021-12-310000092230tfc:InsuranceincomeMember2020-01-012020-12-310000092230us-gaap:FiduciaryAndTrustMember2022-01-012022-12-310000092230us-gaap:FiduciaryAndTrustMember2021-01-012021-12-310000092230us-gaap:FiduciaryAndTrustMember2020-01-012020-12-310000092230us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2022-01-012022-12-310000092230us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2021-01-012021-12-310000092230us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2020-01-012020-12-310000092230us-gaap:DepositAccountMember2022-01-012022-12-310000092230us-gaap:DepositAccountMember2021-01-012021-12-310000092230us-gaap:DepositAccountMember2020-01-012020-12-310000092230us-gaap:CreditCardMember2022-01-012022-12-310000092230us-gaap:CreditCardMember2021-01-012021-12-310000092230us-gaap:CreditCardMember2020-01-012020-12-310000092230us-gaap:MortgageBankingMember2022-01-012022-12-310000092230us-gaap:MortgageBankingMember2021-01-012021-12-310000092230us-gaap:MortgageBankingMember2020-01-012020-12-310000092230tfc:LendingRelatedMember2022-01-012022-12-310000092230tfc:LendingRelatedMember2021-01-012021-12-310000092230tfc:LendingRelatedMember2020-01-012020-12-310000092230us-gaap:FinancialServiceOtherMember2022-01-012022-12-310000092230us-gaap:FinancialServiceOtherMember2021-01-012021-12-310000092230us-gaap:FinancialServiceOtherMember2020-01-012020-12-310000092230tfc:SecuritiesGainsLossesMember2022-01-012022-12-310000092230tfc:SecuritiesGainsLossesMember2021-01-012021-12-310000092230tfc:SecuritiesGainsLossesMember2020-01-012020-12-310000092230us-gaap:ServiceOtherMember2022-01-012022-12-310000092230us-gaap:ServiceOtherMember2021-01-012021-12-310000092230us-gaap:ServiceOtherMember2020-01-012020-12-310000092230us-gaap:CommonStockMember2019-12-310000092230us-gaap:PreferredStockMember2019-12-310000092230us-gaap:AdditionalPaidInCapitalMember2019-12-310000092230us-gaap:RetainedEarningsMember2019-12-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310000092230us-gaap:NoncontrollingInterestMember2019-12-3100000922302019-12-310000092230us-gaap:RetainedEarningsMember2020-01-012020-12-310000092230us-gaap:NoncontrollingInterestMember2020-01-012020-12-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-12-310000092230us-gaap:CommonStockMember2020-01-012020-12-310000092230us-gaap:AdditionalPaidInCapitalMember2020-01-012020-12-310000092230us-gaap:PreferredStockMember2020-01-012020-12-310000092230us-gaap:CommonStockMember2020-12-310000092230us-gaap:PreferredStockMember2020-12-310000092230us-gaap:AdditionalPaidInCapitalMember2020-12-310000092230us-gaap:RetainedEarningsMember2020-12-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310000092230us-gaap:NoncontrollingInterestMember2020-12-3100000922302020-12-310000092230us-gaap:RetainedEarningsMember2021-01-012021-12-310000092230us-gaap:NoncontrollingInterestMember2021-01-012021-12-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-12-310000092230us-gaap:CommonStockMember2021-01-012021-12-310000092230us-gaap:AdditionalPaidInCapitalMember2021-01-012021-12-310000092230us-gaap:PreferredStockMember2021-01-012021-12-310000092230us-gaap:CommonStockMember2021-12-310000092230us-gaap:PreferredStockMember2021-12-310000092230us-gaap:AdditionalPaidInCapitalMember2021-12-310000092230us-gaap:RetainedEarningsMember2021-12-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310000092230us-gaap:NoncontrollingInterestMember2021-12-310000092230us-gaap:RetainedEarningsMember2022-01-012022-12-310000092230us-gaap:NoncontrollingInterestMember2022-01-012022-12-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310000092230us-gaap:CommonStockMember2022-01-012022-12-310000092230us-gaap:AdditionalPaidInCapitalMember2022-01-012022-12-310000092230us-gaap:CommonStockMember2022-12-310000092230us-gaap:PreferredStockMember2022-12-310000092230us-gaap:AdditionalPaidInCapitalMember2022-12-310000092230us-gaap:RetainedEarningsMember2022-12-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000092230us-gaap:NoncontrollingInterestMember2022-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMember2022-01-012022-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMember2022-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMember2022-01-012022-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMember2022-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2022-01-012022-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2022-12-310000092230us-gaap:ConsumerPortfolioSegmentMembersrt:MinimumMemberus-gaap:ResidentialMortgageMember2022-01-012022-12-310000092230srt:MaximumMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2022-01-012022-12-310000092230us-gaap:ConsumerPortfolioSegmentMembersrt:MinimumMemberus-gaap:ResidentialMortgageMember2022-12-310000092230srt:MaximumMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2022-12-310000092230tfc:DirectLendingMemberus-gaap:ConsumerPortfolioSegmentMembersrt:MinimumMember2022-01-012022-12-310000092230srt:MaximumMembertfc:DirectLendingMemberus-gaap:ConsumerPortfolioSegmentMember2022-01-012022-12-310000092230tfc:DirectLendingMemberus-gaap:ConsumerPortfolioSegmentMembersrt:MinimumMember2022-12-310000092230srt:MaximumMembertfc:DirectLendingMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230us-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2022-01-012022-12-310000092230us-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMembersrt:MinimumMember2022-01-012022-12-310000092230srt:MaximumMemberus-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2022-01-012022-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMembersrt:MinimumMember2022-12-310000092230srt:MaximumMemberus-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2022-12-310000092230us-gaap:StudentLoanMemberus-gaap:ConsumerPortfolioSegmentMembersrt:MinimumMember2022-12-310000092230srt:MaximumMemberus-gaap:StudentLoanMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230us-gaap:CreditCardReceivablesMembersrt:MinimumMember2022-12-310000092230srt:MaximumMemberus-gaap:CreditCardReceivablesMember2022-12-310000092230tfc:BusinessCombinationMemberMembertfc:InsuranceHoldingsMembertfc:BankDirectCapitalFinanceMember2022-01-012022-12-310000092230tfc:BenefitMallMembertfc:BusinessCombinationMemberMembertfc:InsuranceHoldingsMember2022-01-012022-12-310000092230tfc:BusinessCombinationMemberMembertfc:InsuranceHoldingsMembertfc:KensingtonVanguardNationalLandServicesMember2022-01-012022-12-310000092230tfc:BusinessCombinationMemberMembertfc:ServiceFinanceLLCMembertfc:ConsumerBankingAndWealthMember2021-01-012021-12-310000092230tfc:BusinessCombinationMemberMembertfc:InsuranceHoldingsMembertfc:ConstellationAffiliatedPartnersMember2021-01-012021-12-310000092230tfc:InsuranceHoldingsMembertfc:BankDirectCapitalFinanceMember2022-12-310000092230tfc:BenefitMallMembertfc:InsuranceHoldingsMember2022-12-310000092230tfc:InsuranceHoldingsMembertfc:KensingtonVanguardNationalLandServicesMember2022-12-310000092230tfc:ServiceFinanceLLCMembertfc:ConsumerBankingAndWealthMember2021-12-310000092230tfc:InsuranceHoldingsMembertfc:ConstellationAffiliatedPartnersMember2021-12-310000092230tfc:InsuranceHoldingsMembertfc:BankDirectCapitalFinanceMember2022-01-012022-12-310000092230tfc:BenefitMallMembertfc:InsuranceHoldingsMember2022-01-012022-12-310000092230tfc:InsuranceHoldingsMembertfc:KensingtonVanguardNationalLandServicesMember2022-01-012022-12-310000092230tfc:ServiceFinanceLLCMembertfc:ConsumerBankingAndWealthMember2021-01-012021-12-310000092230tfc:InsuranceHoldingsMembertfc:ConstellationAffiliatedPartnersMember2021-01-012021-12-310000092230us-gaap:USTreasurySecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:MaturityOvernightMember2022-12-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:USTreasurySecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2022-12-310000092230us-gaap:USTreasurySecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2022-12-310000092230us-gaap:USTreasurySecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:MaturityOvernightMember2021-12-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:USTreasurySecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2021-12-310000092230us-gaap:USTreasurySecuritiesMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2021-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:MaturityOvernightMemberus-gaap:MunicipalNotesMember2022-12-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:MunicipalNotesMember2022-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:MunicipalNotesMember2022-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:MaturityOvernightMemberus-gaap:MunicipalNotesMember2021-12-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:MunicipalNotesMember2021-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:MunicipalNotesMember2021-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:MaturityOvernightMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-12-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:MaturityOvernightMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:MaturityOvernightMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:MaturityOvernightMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2021-12-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2021-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2021-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:MaturityOvernightMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:MaturityOvernightMemberus-gaap:CorporateDebtSecuritiesMember2021-12-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:CorporateDebtSecuritiesMember2021-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:CorporateDebtSecuritiesMember2021-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:MaturityOvernightMember2022-12-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2022-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2022-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:MaturityOvernightMember2021-12-310000092230us-gaap:MaturityUpTo30DaysMemberus-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2021-12-310000092230us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2021-12-310000092230us-gaap:USTreasurySecuritiesMember2022-12-310000092230us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-12-310000092230us-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310000092230us-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310000092230us-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310000092230us-gaap:OtherInvestmentsMember2022-12-310000092230us-gaap:USTreasurySecuritiesMember2021-12-310000092230us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-310000092230us-gaap:ResidentialMortgageBackedSecuritiesMember2021-12-310000092230us-gaap:CommercialMortgageBackedSecuritiesMember2021-12-310000092230us-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310000092230us-gaap:OtherInvestmentsMember2021-12-310000092230us-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2022-12-310000092230us-gaap:FederalHomeLoanMortgageCorporationCertificatesAndObligationsFHLMCMember2022-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMember2022-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMembertfc:FinancingReceivables30To89DaysPastDueMember2022-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2022-12-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMember2022-12-310000092230us-gaap:CommercialPortfolioSegmentMembertfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:CommercialRealEstateMember2022-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMember2022-12-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2022-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMembertfc:FinancingReceivables30To89DaysPastDueMember2022-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2022-12-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2022-12-310000092230tfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2022-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2022-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2022-12-310000092230us-gaap:FinancialAssetNotPastDueMembertfc:DirectLendingMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230tfc:DirectLendingMembertfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembertfc:DirectLendingMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230tfc:DirectLendingMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230us-gaap:AutomobileLoanMembertfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2022-12-310000092230tfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2022-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2022-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2022-12-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:StudentLoanMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230us-gaap:StudentLoanMembertfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:StudentLoanMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230us-gaap:StudentLoanMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:CreditCardReceivablesMember2022-12-310000092230us-gaap:CreditCardReceivablesMembertfc:FinancingReceivables30To89DaysPastDueMember2022-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CreditCardReceivablesMember2022-12-310000092230us-gaap:CreditCardReceivablesMember2022-12-310000092230us-gaap:FinancialAssetNotPastDueMember2022-12-310000092230tfc:FinancingReceivables30To89DaysPastDueMember2022-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMemberus-gaap:ResidentialMortgageMember2022-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:StudentLoanMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2022-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMembertfc:FinancingReceivables30To89DaysPastDueMember2021-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMember2021-12-310000092230us-gaap:CommercialPortfolioSegmentMembertfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:CommercialRealEstateMember2021-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMember2021-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMember2021-12-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2021-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMembertfc:FinancingReceivables30To89DaysPastDueMember2021-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2021-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2021-12-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2021-12-310000092230tfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2021-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2021-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2021-12-310000092230us-gaap:FinancialAssetNotPastDueMembertfc:DirectLendingMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000092230tfc:DirectLendingMembertfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembertfc:DirectLendingMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000092230tfc:DirectLendingMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000092230us-gaap:AutomobileLoanMembertfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000092230us-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2021-12-310000092230tfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2021-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2021-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2021-12-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:StudentLoanMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000092230us-gaap:StudentLoanMembertfc:FinancingReceivables30To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:StudentLoanMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000092230us-gaap:StudentLoanMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:CreditCardReceivablesMember2021-12-310000092230us-gaap:CreditCardReceivablesMembertfc:FinancingReceivables30To89DaysPastDueMember2021-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CreditCardReceivablesMember2021-12-310000092230us-gaap:CreditCardReceivablesMember2021-12-310000092230us-gaap:FinancialAssetNotPastDueMember2021-12-310000092230tfc:FinancingReceivables30To89DaysPastDueMember2021-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMemberus-gaap:ResidentialMortgageMember2021-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:StudentLoanMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2021-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMember2022-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMember2022-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2022-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2022-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberus-gaap:CommercialRealEstateMember2022-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberus-gaap:CommercialRealEstateMember2022-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstateMember2022-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialRealEstateMember2022-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:PassMember2022-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:SpecialMentionMember2022-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:SubstandardMember2022-12-310000092230us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2022-12-310000092230tfc:DirectLendingMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230us-gaap:AutomobileLoanMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2022-12-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:CreditCardReceivablesMember2022-12-310000092230us-gaap:CreditCardReceivablesMembertfc:FinancingReceivables30To89DaysPastDueMember2022-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CreditCardReceivablesMember2022-12-310000092230us-gaap:CreditCardReceivablesMember2022-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMember2021-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMember2021-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2021-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2021-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberus-gaap:CommercialRealEstateMember2021-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberus-gaap:CommercialRealEstateMember2021-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstateMember2021-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:CommercialRealEstateMember2021-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:PassMember2021-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:SpecialMentionMember2021-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:SubstandardMember2021-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:NonperformingFinancingReceivableMember2021-12-310000092230us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2021-12-310000092230tfc:DirectLendingMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000092230us-gaap:AutomobileLoanMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000092230us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2021-12-310000092230us-gaap:FinancialAssetNotPastDueMemberus-gaap:CreditCardReceivablesMember2021-12-310000092230us-gaap:CreditCardReceivablesMembertfc:FinancingReceivables30To89DaysPastDueMember2021-12-310000092230us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CreditCardReceivablesMember2021-12-310000092230us-gaap:CreditCardReceivablesMember2021-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMember2019-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMember2020-01-012020-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMember2020-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMember2019-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMember2020-01-012020-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMember2020-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2019-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2020-01-012020-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2020-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2019-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2020-01-012020-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2020-12-310000092230tfc:DirectLendingMemberus-gaap:ConsumerPortfolioSegmentMember2019-12-310000092230tfc:DirectLendingMemberus-gaap:ConsumerPortfolioSegmentMember2020-01-012020-12-310000092230tfc:DirectLendingMemberus-gaap:ConsumerPortfolioSegmentMember2020-12-310000092230us-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2019-12-310000092230us-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2020-01-012020-12-310000092230us-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2020-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2019-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2020-01-012020-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2020-12-310000092230us-gaap:StudentLoanMemberus-gaap:ConsumerPortfolioSegmentMember2019-12-310000092230us-gaap:StudentLoanMemberus-gaap:ConsumerPortfolioSegmentMember2020-01-012020-12-310000092230us-gaap:StudentLoanMemberus-gaap:ConsumerPortfolioSegmentMember2020-12-310000092230us-gaap:CreditCardReceivablesMember2019-12-310000092230us-gaap:CreditCardReceivablesMember2020-01-012020-12-310000092230us-gaap:CreditCardReceivablesMember2020-12-310000092230tfc:PCIMember2019-12-310000092230tfc:PCIMember2020-01-012020-12-310000092230tfc:PCIMember2020-12-310000092230us-gaap:AllowanceForLoanAndLeaseLossesMember2019-12-310000092230us-gaap:AllowanceForLoanAndLeaseLossesMember2020-01-012020-12-310000092230us-gaap:AllowanceForLoanAndLeaseLossesMember2020-12-310000092230us-gaap:UnfundedLoanCommitmentMember2019-12-310000092230us-gaap:UnfundedLoanCommitmentMember2020-01-012020-12-310000092230us-gaap:UnfundedLoanCommitmentMember2020-12-310000092230us-gaap:AllowanceForCreditLossMember2019-12-310000092230us-gaap:AllowanceForCreditLossMember2020-01-012020-12-310000092230us-gaap:AllowanceForCreditLossMember2020-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMember2021-01-012021-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMember2021-01-012021-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMember2021-01-012021-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2021-01-012021-12-310000092230tfc:DirectLendingMemberus-gaap:ConsumerPortfolioSegmentMember2021-01-012021-12-310000092230us-gaap:AutomobileLoanMemberus-gaap:ConsumerPortfolioSegmentMember2021-01-012021-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2021-01-012021-12-310000092230us-gaap:StudentLoanMemberus-gaap:ConsumerPortfolioSegmentMember2021-01-012021-12-310000092230us-gaap:CreditCardReceivablesMember2021-01-012021-12-310000092230us-gaap:AllowanceForLoanAndLeaseLossesMember2021-01-012021-12-310000092230us-gaap:AllowanceForLoanAndLeaseLossesMember2021-12-310000092230us-gaap:UnfundedLoanCommitmentMember2021-01-012021-12-310000092230us-gaap:UnfundedLoanCommitmentMember2021-12-310000092230us-gaap:AllowanceForCreditLossMember2021-01-012021-12-310000092230us-gaap:AllowanceForCreditLossMember2021-12-310000092230us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2022-01-012022-12-310000092230tfc:DirectLendingMemberus-gaap:ConsumerPortfolioSegmentMember2022-01-012022-12-310000092230us-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2022-01-012022-12-310000092230us-gaap:StudentLoanMemberus-gaap:ConsumerPortfolioSegmentMember2022-01-012022-12-310000092230us-gaap:CreditCardReceivablesMember2022-01-012022-12-310000092230us-gaap:AllowanceForLoanAndLeaseLossesMember2022-01-012022-12-310000092230us-gaap:AllowanceForLoanAndLeaseLossesMember2022-12-310000092230us-gaap:UnfundedLoanCommitmentMember2022-01-012022-12-310000092230us-gaap:UnfundedLoanCommitmentMember2022-12-310000092230us-gaap:AllowanceForCreditLossMember2022-01-012022-12-310000092230us-gaap:AllowanceForCreditLossMember2022-12-310000092230us-gaap:CommercialPortfolioSegmentMember2022-01-012022-12-310000092230us-gaap:ConsumerPortfolioSegmentMember2022-01-012022-12-310000092230tfc:HeldForSaleMemberMember2022-12-310000092230tfc:HeldForSaleMemberMember2021-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMember2022-12-310000092230tfc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMember2021-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMemberus-gaap:CommercialRealEstateMember2022-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:PerformingFinancingReceivableMemberus-gaap:CommercialRealEstateMember2021-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:PerformingFinancingReceivableMember2022-12-310000092230us-gaap:CommercialPortfolioSegmentMemberus-gaap:ConstructionLoansMemberus-gaap:PerformingFinancingReceivableMember2021-12-310000092230us-gaap:PerformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2022-12-310000092230us-gaap:PerformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialMortgageMember2021-12-310000092230tfc:DirectLendingMemberus-gaap:PerformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230tfc:DirectLendingMemberus-gaap:PerformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000092230us-gaap:AutomobileLoanMemberus-gaap:PerformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230us-gaap:AutomobileLoanMemberus-gaap:PerformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000092230us-gaap:PerformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2022-12-310000092230us-gaap:PerformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMembertfc:IndirectLendingMember2021-12-310000092230us-gaap:StudentLoanMemberus-gaap:PerformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310000092230us-gaap:StudentLoanMemberus-gaap:PerformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000092230us-gaap:CreditCardReceivablesMemberus-gaap:PerformingFinancingReceivableMember2022-12-310000092230us-gaap:CreditCardReceivablesMemberus-gaap:PerformingFinancingReceivableMember2021-12-310000092230us-gaap:PerformingFinancingReceivableMember2022-12-310000092230us-gaap:PerformingFinancingReceivableMember2021-12-310000092230us-gaap:NonperformingFinancingReceivableMember2022-12-310000092230us-gaap:NonperformingFinancingReceivableMember2021-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:InterestRateBelowMarketReductionMember2022-01-012022-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ExtendedMaturityMember2022-01-012022-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CommercialPortfolioSegmentMember2022-01-012022-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:InterestRateBelowMarketReductionMember2022-01-012022-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ExtendedMaturityMember2022-01-012022-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:ConsumerPortfolioSegmentMember2022-01-012022-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CreditCardReceivablesMemberus-gaap:InterestRateBelowMarketReductionMember2022-01-012022-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CreditCardReceivablesMemberus-gaap:ExtendedMaturityMember2022-01-012022-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CreditCardReceivablesMember2022-01-012022-12-310000092230tfc:ReModificationofPreviouslyDesignatedTDRsMemberus-gaap:InterestRateBelowMarketReductionMember2022-01-012022-12-310000092230tfc:ReModificationofPreviouslyDesignatedTDRsMemberus-gaap:ExtendedMaturityMember2022-01-012022-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:InterestRateBelowMarketReductionMember2021-01-012021-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ExtendedMaturityMember2021-01-012021-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CommercialPortfolioSegmentMember2021-01-012021-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:InterestRateBelowMarketReductionMember2021-01-012021-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ExtendedMaturityMember2021-01-012021-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:ConsumerPortfolioSegmentMember2021-01-012021-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CreditCardReceivablesMemberus-gaap:InterestRateBelowMarketReductionMember2021-01-012021-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CreditCardReceivablesMemberus-gaap:ExtendedMaturityMember2021-01-012021-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CreditCardReceivablesMember2021-01-012021-12-310000092230tfc:ReModificationofPreviouslyDesignatedTDRsMemberus-gaap:InterestRateBelowMarketReductionMember2021-01-012021-12-310000092230tfc:ReModificationofPreviouslyDesignatedTDRsMemberus-gaap:ExtendedMaturityMember2021-01-012021-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:InterestRateBelowMarketReductionMember2020-01-012020-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:ExtendedMaturityMember2020-01-012020-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CommercialPortfolioSegmentMember2020-01-012020-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:InterestRateBelowMarketReductionMember2020-01-012020-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ExtendedMaturityMember2020-01-012020-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:ConsumerPortfolioSegmentMember2020-01-012020-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CreditCardReceivablesMemberus-gaap:InterestRateBelowMarketReductionMember2020-01-012020-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CreditCardReceivablesMemberus-gaap:ExtendedMaturityMember2020-01-012020-12-310000092230tfc:NewlyDesignatedTDRsMemberus-gaap:CreditCardReceivablesMember2020-01-012020-12-310000092230tfc:ReModificationofPreviouslyDesignatedTDRsMemberus-gaap:InterestRateBelowMarketReductionMember2020-01-012020-12-310000092230tfc:ReModificationofPreviouslyDesignatedTDRsMemberus-gaap:ExtendedMaturityMember2020-01-012020-12-310000092230us-gaap:LandAndLandImprovementsMember2022-12-310000092230us-gaap:LandAndLandImprovementsMember2021-12-310000092230us-gaap:BuildingAndBuildingImprovementsMember2022-01-012022-12-310000092230us-gaap:BuildingAndBuildingImprovementsMember2022-12-310000092230us-gaap:BuildingAndBuildingImprovementsMember2021-12-310000092230us-gaap:FurnitureAndFixturesMembersrt:MinimumMember2022-01-012022-12-310000092230srt:MaximumMemberus-gaap:FurnitureAndFixturesMember2022-01-012022-12-310000092230us-gaap:FurnitureAndFixturesMember2022-12-310000092230us-gaap:FurnitureAndFixturesMember2021-12-310000092230us-gaap:LeaseholdImprovementsMember2022-12-310000092230us-gaap:LeaseholdImprovementsMember2021-12-310000092230us-gaap:ConstructionInProgressMember2022-12-310000092230us-gaap:ConstructionInProgressMember2021-12-310000092230us-gaap:AssetsHeldUnderCapitalLeasesMember2022-12-310000092230us-gaap:AssetsHeldUnderCapitalLeasesMember2021-12-310000092230tfc:ConsumerBankingAndWealthMember2020-12-310000092230tfc:CorporateAndCommercialBankingMember2020-12-310000092230tfc:InsuranceHoldingsMember2020-12-310000092230tfc:ConsumerBankingAndWealthMember2021-12-310000092230tfc:CorporateAndCommercialBankingMember2021-12-310000092230tfc:InsuranceHoldingsMember2021-12-310000092230tfc:ConsumerBankingAndWealthMember2022-12-310000092230tfc:CorporateAndCommercialBankingMember2022-12-310000092230tfc:InsuranceHoldingsMember2022-12-310000092230us-gaap:CoreDepositsMember2022-12-310000092230us-gaap:CoreDepositsMember2021-12-310000092230us-gaap:OtherIntangibleAssetsMember2022-12-310000092230us-gaap:OtherIntangibleAssetsMember2021-12-310000092230tfc:SunTrustMerchantServicesLLCMembertfc:ConsumerBankingAndWealthMember2022-01-012022-12-310000092230us-gaap:ResidentialMortgageMember2022-12-310000092230us-gaap:ResidentialMortgageMember2021-12-310000092230us-gaap:ResidentialMortgageMember2020-12-310000092230us-gaap:ResidentialMortgageMember2022-01-012022-12-310000092230us-gaap:ResidentialMortgageMember2021-01-012021-12-310000092230us-gaap:ResidentialMortgageMember2020-01-012020-12-310000092230us-gaap:BankServicingMemberus-gaap:ResidentialMortgageMember2022-01-012022-12-310000092230us-gaap:BankServicingMemberus-gaap:ResidentialMortgageMember2021-01-012021-12-310000092230us-gaap:BankServicingMemberus-gaap:ResidentialMortgageMember2020-01-012020-12-31xbrli:pure0000092230us-gaap:ResidentialMortgageMember2021-12-310000092230us-gaap:ResidentialMortgageMember2020-12-310000092230us-gaap:ResidentialMortgageMember2019-12-310000092230tfc:ServicingRightsAcquisitionMemberus-gaap:ResidentialMortgageMember2022-01-012022-12-310000092230tfc:ServicingRightsAcquisitionMemberus-gaap:ResidentialMortgageMember2021-01-012021-12-310000092230tfc:ServicingRightsAcquisitionMemberus-gaap:ResidentialMortgageMember2020-01-012020-12-310000092230us-gaap:ResidentialMortgageMember2022-01-012022-12-310000092230us-gaap:ResidentialMortgageMember2021-01-012021-12-310000092230us-gaap:ResidentialMortgageMember2020-01-012020-12-310000092230us-gaap:ResidentialMortgageMember2022-12-310000092230us-gaap:ResidentialMortgageMembersrt:MinimumMember2022-01-012022-12-310000092230srt:MaximumMemberus-gaap:ResidentialMortgageMember2022-01-012022-12-310000092230us-gaap:ResidentialMortgageMembersrt:WeightedAverageMember2022-01-012022-12-310000092230us-gaap:ResidentialMortgageMembersrt:MinimumMember2021-01-012021-12-310000092230srt:MaximumMemberus-gaap:ResidentialMortgageMember2021-01-012021-12-310000092230us-gaap:ResidentialMortgageMembersrt:WeightedAverageMember2021-01-012021-12-310000092230us-gaap:ResidentialMortgageMembersrt:WeightedAverageMember2022-12-310000092230us-gaap:ResidentialMortgageMembersrt:WeightedAverageMember2021-12-310000092230us-gaap:FixedRateResidentialMortgageMember2022-12-310000092230us-gaap:FixedRateResidentialMortgageMember2021-12-310000092230us-gaap:AdjustableRateResidentialMortgageMember2022-12-310000092230us-gaap:AdjustableRateResidentialMortgageMember2021-12-310000092230us-gaap:CommercialRealEstateMember2022-12-310000092230us-gaap:CommercialRealEstateMember2021-12-310000092230us-gaap:CommercialRealEstateMember2022-01-012022-12-310000092230us-gaap:CommercialRealEstateMember2021-01-012021-12-310000092230tfc:IndirectLendingMember2022-12-310000092230tfc:IndirectLendingMember2021-12-310000092230us-gaap:FederalHomeLoanBankAdvancesMember2022-12-310000092230us-gaap:FederalHomeLoanBankAdvancesMember2021-12-310000092230us-gaap:SecuritiesSoldNotYetPurchasedMember2022-12-310000092230us-gaap:SecuritiesSoldNotYetPurchasedMember2021-12-310000092230tfc:DealerCollateralMember2022-12-310000092230tfc:DealerCollateralMember2021-12-310000092230tfc:MasterNotesMember2022-12-310000092230tfc:MasterNotesMember2021-12-310000092230us-gaap:ShortTermDebtMember2022-12-310000092230us-gaap:ShortTermDebtMember2021-12-310000092230srt:ParentCompanyMembertfc:FixedRateMemberus-gaap:SeniorNotesMembersrt:MinimumMember2022-12-310000092230srt:MaximumMembersrt:ParentCompanyMembertfc:FixedRateMemberus-gaap:SeniorNotesMember2022-12-310000092230srt:ParentCompanyMembertfc:FixedRateMemberus-gaap:SeniorNotesMember2022-12-310000092230srt:ParentCompanyMembertfc:FixedRateMemberus-gaap:SeniorNotesMember2021-12-310000092230srt:ParentCompanyMemberus-gaap:SeniorNotesMembersrt:MinimumMembertfc:FloatingRateMember2022-12-310000092230srt:MaximumMembersrt:ParentCompanyMemberus-gaap:SeniorNotesMembertfc:FloatingRateMember2022-12-310000092230srt:ParentCompanyMemberus-gaap:SeniorNotesMembertfc:FloatingRateMember2022-12-310000092230srt:ParentCompanyMemberus-gaap:SeniorNotesMembertfc:FloatingRateMember2021-12-310000092230srt:ParentCompanyMembertfc:FixedRateMembersrt:MinimumMemberus-gaap:SeniorSubordinatedNotesMember2022-12-310000092230srt:MaximumMembersrt:ParentCompanyMembertfc:FixedRateMemberus-gaap:SeniorSubordinatedNotesMember2022-12-310000092230srt:ParentCompanyMembertfc:FixedRateMemberus-gaap:SeniorSubordinatedNotesMember2022-12-310000092230srt:ParentCompanyMembertfc:FixedRateMemberus-gaap:SeniorSubordinatedNotesMember2021-12-310000092230srt:ParentCompanyMembertfc:CapitalNoteMembersrt:MinimumMember2022-12-310000092230srt:MaximumMembersrt:ParentCompanyMembertfc:CapitalNoteMember2022-12-310000092230tfc:CapitalNoteMembersrt:ParentCompanyMember2022-12-310000092230tfc:CapitalNoteMembersrt:ParentCompanyMember2021-12-310000092230us-gaap:StructuredFinanceMembersrt:ParentCompanyMember2022-12-310000092230us-gaap:StructuredFinanceMembersrt:ParentCompanyMember2021-12-310000092230tfc:FixedRateMembersrt:SubsidiariesMemberus-gaap:SeniorNotesMembersrt:MinimumMember2022-12-310000092230srt:MaximumMembertfc:FixedRateMembersrt:SubsidiariesMemberus-gaap:SeniorNotesMember2022-12-310000092230tfc:FixedRateMembersrt:SubsidiariesMemberus-gaap:SeniorNotesMember2022-12-310000092230tfc:FixedRateMembersrt:SubsidiariesMemberus-gaap:SeniorNotesMember2021-12-310000092230srt:SubsidiariesMemberus-gaap:SeniorNotesMembersrt:MinimumMembertfc:FloatingRateMember2022-12-310000092230srt:MaximumMembersrt:SubsidiariesMemberus-gaap:SeniorNotesMembertfc:FloatingRateMember2022-12-310000092230srt:SubsidiariesMemberus-gaap:SeniorNotesMembertfc:FloatingRateMember2022-12-310000092230srt:SubsidiariesMemberus-gaap:SeniorNotesMembertfc:FloatingRateMember2021-12-310000092230tfc:FixedRateMembersrt:SubsidiariesMembersrt:MinimumMemberus-gaap:SeniorSubordinatedNotesMember2022-12-310000092230srt:MaximumMembertfc:FixedRateMembersrt:SubsidiariesMemberus-gaap:SeniorSubordinatedNotesMember2022-12-310000092230tfc:FixedRateMembersrt:SubsidiariesMemberus-gaap:SeniorSubordinatedNotesMember2022-12-310000092230tfc:FixedRateMembersrt:SubsidiariesMemberus-gaap:SeniorSubordinatedNotesMember2021-12-310000092230tfc:FixedRateMembersrt:SubsidiariesMemberus-gaap:FederalHomeLoanBankAdvancesMembersrt:MinimumMember2022-12-310000092230srt:MaximumMembertfc:FixedRateMembersrt:SubsidiariesMemberus-gaap:FederalHomeLoanBankAdvancesMember2022-12-310000092230tfc:FixedRateMembersrt:SubsidiariesMemberus-gaap:FederalHomeLoanBankAdvancesMember2022-12-310000092230tfc:FixedRateMembersrt:SubsidiariesMemberus-gaap:FederalHomeLoanBankAdvancesMember2021-12-310000092230srt:SubsidiariesMemberus-gaap:FederalHomeLoanBankAdvancesMembersrt:MinimumMembertfc:FloatingRateMember2022-12-310000092230srt:MaximumMembersrt:SubsidiariesMemberus-gaap:FederalHomeLoanBankAdvancesMembertfc:FloatingRateMember2022-12-310000092230srt:SubsidiariesMemberus-gaap:FederalHomeLoanBankAdvancesMembertfc:FloatingRateMember2022-12-310000092230srt:SubsidiariesMemberus-gaap:FederalHomeLoanBankAdvancesMembertfc:FloatingRateMember2021-12-310000092230srt:SubsidiariesMembertfc:OtherLongTermDebtMember2022-12-310000092230srt:SubsidiariesMembertfc:OtherLongTermDebtMember2021-12-310000092230tfc:NonbankSubsidiariesMembertfc:OtherLongTermDebtMember2022-12-310000092230tfc:NonbankSubsidiariesMembertfc:OtherLongTermDebtMember2021-12-310000092230srt:ParentCompanyMembertfc:FixedRateMemberus-gaap:SeniorNotesMember2022-01-012022-12-310000092230srt:ParentCompanyMemberus-gaap:SeniorNotesMembertfc:FloatingRateMember2022-01-012022-12-310000092230srt:ParentCompanyMembertfc:FixedRateMemberus-gaap:SeniorSubordinatedNotesMember2022-01-012022-12-310000092230tfc:CapitalNoteMembersrt:ParentCompanyMember2022-01-012022-12-310000092230us-gaap:StructuredFinanceMembersrt:ParentCompanyMember2022-01-012022-12-310000092230tfc:FixedRateMembersrt:SubsidiariesMemberus-gaap:SeniorNotesMember2022-01-012022-12-310000092230srt:SubsidiariesMemberus-gaap:SeniorNotesMembertfc:FloatingRateMember2022-01-012022-12-310000092230tfc:FixedRateMembersrt:SubsidiariesMemberus-gaap:SeniorSubordinatedNotesMember2022-01-012022-12-310000092230tfc:FixedRateMembersrt:SubsidiariesMemberus-gaap:FederalHomeLoanBankAdvancesMember2022-01-012022-12-310000092230srt:SubsidiariesMemberus-gaap:FederalHomeLoanBankAdvancesMembertfc:FloatingRateMember2022-01-012022-12-310000092230us-gaap:CommonStockMember2022-12-310000092230tfc:SeriesIPreferredStockMember2022-12-310000092230tfc:SeriesJPreferredStockMember2022-12-310000092230tfc:SeriesLMember2022-12-310000092230tfc:SeriesLMember2022-01-012022-12-310000092230tfc:SeriesMMember2022-12-310000092230tfc:SeriesMMember2022-01-012022-12-310000092230tfc:SeriesNMember2022-12-310000092230tfc:SeriesNMember2022-01-012022-12-310000092230tfc:SeriesOPreferredStockMember2022-12-310000092230tfc:SeriesPPreferredStockMember2022-12-310000092230tfc:SeriesPPreferredStockMember2022-01-012022-12-310000092230tfc:SeriesQPreferredStockMember2022-12-310000092230tfc:SeriesQPreferredStockMember2022-01-012022-12-310000092230tfc:SeriesRPreferredStockMember2022-12-310000092230us-gaap:SeriesFPreferredStockMember2021-01-012021-12-310000092230us-gaap:SeriesGPreferredStockMember2021-01-012021-12-310000092230us-gaap:SeriesHPreferredStockMember2021-01-012021-12-310000092230tfc:SeriesKPreferredStockMember2020-01-012020-12-310000092230us-gaap:SeriesBPreferredStockMember2021-01-012021-12-310000092230us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-12-310000092230us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2019-12-310000092230us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-12-310000092230tfc:AOCIOtherAttributabletoParentMember2019-12-310000092230us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-01-012020-12-310000092230us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-01-012020-12-310000092230us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-01-012020-12-310000092230tfc:AOCIOtherAttributabletoParentMember2020-01-012020-12-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-01-012020-12-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-01-012020-12-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-01-012020-12-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMembertfc:AOCIOtherAttributabletoParentMember2020-01-012020-12-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-12-310000092230us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-12-310000092230us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-12-310000092230us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-12-310000092230tfc:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleTransferredToHeldToMaturityMember2020-12-310000092230tfc:AOCIOtherAttributabletoParentMember2020-12-310000092230us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-012021-12-310000092230us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-12-310000092230us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-01-012021-12-310000092230tfc:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleTransferredToHeldToMaturityMember2021-01-012021-12-310000092230tfc:AOCIOtherAttributabletoParentMember2021-01-012021-12-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-012021-12-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-12-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-01-012021-12-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMembertfc:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleTransferredToHeldToMaturityMember2021-01-012021-12-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMembertfc:AOCIOtherAttributabletoParentMember2021-01-012021-12-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-12-310000092230us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-12-310000092230us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-12-310000092230us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-12-310000092230tfc:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleTransferredToHeldToMaturityMember2021-12-310000092230tfc:AOCIOtherAttributabletoParentMember2021-12-310000092230us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-01-012022-12-310000092230us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-01-012022-12-310000092230us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-01-012022-12-310000092230tfc:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleTransferredToHeldToMaturityMember2022-01-012022-12-310000092230tfc:AOCIOtherAttributabletoParentMember2022-01-012022-12-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-01-012022-12-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-01-012022-12-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-01-012022-12-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMembertfc:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleTransferredToHeldToMaturityMember2022-01-012022-12-310000092230us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMembertfc:AOCIOtherAttributabletoParentMember2022-01-012022-12-310000092230us-gaap:AccumulatedOtherComprehensiveIncomeMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310000092230us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-12-310000092230us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-12-310000092230us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-12-310000092230tfc:AOCIAccumulatedGainLossDebtSecuritiesAvailableForSaleTransferredToHeldToMaturityMember2022-12-310000092230tfc:AOCIOtherAttributabletoParentMember2022-12-310000092230us-gaap:StateAndLocalJurisdictionMember2022-12-310000092230us-gaap:StateAndLocalJurisdictionMember2021-12-310000092230srt:ScenarioForecastMember2023-01-012023-12-310000092230us-gaap:QualifiedPlanMember2021-12-310000092230us-gaap:QualifiedPlanMember2020-12-310000092230us-gaap:NonqualifiedPlanMember2021-12-310000092230us-gaap:NonqualifiedPlanMember2020-12-310000092230us-gaap:QualifiedPlanMember2022-01-012022-12-310000092230us-gaap:QualifiedPlanMember2021-01-012021-12-310000092230us-gaap:NonqualifiedPlanMember2022-01-012022-12-310000092230us-gaap:NonqualifiedPlanMember2021-01-012021-12-310000092230us-gaap:QualifiedPlanMember2022-12-310000092230us-gaap:NonqualifiedPlanMember2022-12-310000092230us-gaap:SubsequentEventMember2023-01-012023-03-310000092230us-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2022-12-310000092230us-gaap:DefinedBenefitPlanCashAndCashEquivalentsMemberus-gaap:FairValueInputsLevel1Member2022-12-310000092230us-gaap:DefinedBenefitPlanCashAndCashEquivalentsMemberus-gaap:FairValueInputsLevel2Member2022-12-310000092230us-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2021-12-310000092230us-gaap:DefinedBenefitPlanCashAndCashEquivalentsMemberus-gaap:FairValueInputsLevel1Member2021-12-310000092230us-gaap:DefinedBenefitPlanCashAndCashEquivalentsMemberus-gaap:FairValueInputsLevel2Member2021-12-310000092230us-gaap:DefinedBenefitPlanEquitySecuritiesUsMembersrt:MinimumMember2022-12-310000092230srt:MaximumMemberus-gaap:DefinedBenefitPlanEquitySecuritiesUsMember2022-12-310000092230us-gaap:DefinedBenefitPlanEquitySecuritiesUsMember2022-12-310000092230us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:FairValueInputsLevel1Member2022-12-310000092230us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:FairValueInputsLevel2Member2022-12-310000092230us-gaap:DefinedBenefitPlanEquitySecuritiesUsMember2021-12-310000092230us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:FairValueInputsLevel1Member2021-12-310000092230us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:FairValueInputsLevel2Member2021-12-310000092230srt:MinimumMemberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMember2022-12-310000092230srt:MaximumMemberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMember2022-12-310000092230us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMember2022-12-310000092230us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel1Member2022-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMember2022-12-310000092230us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMember2021-12-310000092230us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel1Member2021-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMember2021-12-310000092230us-gaap:FixedIncomeSecuritiesMembersrt:MinimumMember2022-12-310000092230srt:MaximumMemberus-gaap:FixedIncomeSecuritiesMember2022-12-310000092230us-gaap:FixedIncomeSecuritiesMember2022-12-310000092230us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-12-310000092230us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueInputsLevel2Member2022-12-310000092230us-gaap:FixedIncomeSecuritiesMember2021-12-310000092230us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310000092230us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueInputsLevel2Member2021-12-310000092230us-gaap:FairValueInputsLevel1Member2022-12-310000092230us-gaap:FairValueInputsLevel2Member2022-12-310000092230us-gaap:FairValueInputsLevel1Member2021-12-310000092230us-gaap:FairValueInputsLevel2Member2021-12-310000092230tfc:AlternativeInvestmentsMember2022-12-310000092230tfc:AlternativeInvestmentsMember2021-12-310000092230srt:MinimumMember2022-01-012022-12-310000092230srt:MaximumMember2022-01-012022-12-310000092230tfc:RestrictedStockUnitsRSUsandPSUsMember2021-12-310000092230tfc:RestrictedStockUnitsRSUsandPSUsMember2022-01-012022-12-310000092230tfc:RestrictedStockUnitsRSUsandPSUsMember2022-12-310000092230tfc:AffordablehousingprojectsMember2022-12-310000092230tfc:AffordablehousingprojectsMember2021-12-310000092230tfc:RenewableEnergyInvestmentsMember2022-12-310000092230tfc:RenewableEnergyInvestmentsMember2021-12-310000092230us-gaap:PrivateEquityFundsMember2022-12-310000092230us-gaap:PrivateEquityFundsMember2021-12-310000092230tfc:AffordablehousingprojectsMember2022-01-012022-12-310000092230tfc:AffordablehousingprojectsMember2021-01-012021-12-310000092230tfc:AffordablehousingprojectsMember2020-01-012020-12-310000092230tfc:OtherCommunityDevelopmentInvestmentMember2022-01-012022-12-310000092230tfc:OtherCommunityDevelopmentInvestmentMember2021-01-012021-12-310000092230tfc:OtherCommunityDevelopmentInvestmentMember2020-01-012020-12-310000092230tfc:RenewableEnergyPartnershipMember2022-01-012022-12-310000092230tfc:RenewableEnergyPartnershipMember2021-01-012021-12-310000092230tfc:RenewableEnergyPartnershipMember2020-01-012020-12-310000092230us-gaap:UnfundedLoanCommitmentMember2022-12-310000092230us-gaap:UnfundedLoanCommitmentMember2021-12-310000092230us-gaap:StandbyLettersOfCreditMember2022-12-310000092230us-gaap:StandbyLettersOfCreditMember2021-12-310000092230us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-12-310000092230us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-310000092230us-gaap:AssetPledgedAsCollateralMember2022-12-310000092230us-gaap:AssetPledgedAsCollateralMember2021-12-310000092230us-gaap:AssetPledgedAsCollateralMemberus-gaap:FederalReserveBankAdvancesMember2022-12-310000092230us-gaap:AssetPledgedAsCollateralMemberus-gaap:FederalReserveBankAdvancesMember2021-12-310000092230us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:AssetPledgedAsCollateralMember2022-12-310000092230us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:AssetPledgedAsCollateralMember2021-12-310000092230us-gaap:FederalReserveBankAdvancesMember2022-12-310000092230us-gaap:FederalReserveBankAdvancesMember2021-12-310000092230us-gaap:FederalHomeLoanBankAdvancesMember2022-12-310000092230us-gaap:FederalHomeLoanBankAdvancesMember2021-12-310000092230srt:MaximumMember2022-12-310000092230tfc:TruistFinancialCorporationMember2022-12-31utr:Rate0000092230tfc:TruistFinancialCorporationMember2021-12-310000092230tfc:TruistBankMember2022-12-310000092230tfc:TruistBankMember2021-12-310000092230tfc:TruistFinancialCorporationMembersrt:MinimumMember2022-12-310000092230us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-12-310000092230us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel2Member2022-12-310000092230us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-12-310000092230us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-12-310000092230us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-12-310000092230us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310000092230us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-12-310000092230us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2022-12-310000092230us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Member2022-12-310000092230us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel1Member2022-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310000092230us-gaap:CorporateDebtSecuritiesMember2022-12-310000092230us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMember2022-12-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2022-12-310000092230us-gaap:LoansMember2022-12-310000092230us-gaap:LoansMemberus-gaap:FairValueInputsLevel1Member2022-12-310000092230us-gaap:LoansMemberus-gaap:FairValueInputsLevel2Member2022-12-310000092230us-gaap:LoansMemberus-gaap:FairValueInputsLevel3Member2022-12-310000092230us-gaap:OtherInvestmentsMemberus-gaap:FairValueInputsLevel1Member2022-12-310000092230us-gaap:OtherInvestmentsMemberus-gaap:FairValueInputsLevel2Member2022-12-310000092230us-gaap:OtherInvestmentsMemberus-gaap:FairValueInputsLevel3Member2022-12-310000092230us-gaap:FairValueInputsLevel3Member2022-12-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueInputsLevel1Member2022-12-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueInputsLevel2Member2022-12-310000092230us-gaap:FairValueConcentrationOfCreditRiskMasterNettingArrangementsMember2022-12-310000092230us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310000092230us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel2Member2021-12-310000092230us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueInputsLevel3Member2021-12-310000092230us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-310000092230us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2021-12-310000092230us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2021-12-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2021-12-310000092230us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310000092230us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2021-12-310000092230us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Member2021-12-310000092230us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel1Member2021-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-310000092230us-gaap:CorporateDebtSecuritiesMember2021-12-310000092230us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMember2021-12-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2021-12-310000092230us-gaap:LoansMember2021-12-310000092230us-gaap:LoansMemberus-gaap:FairValueInputsLevel1Member2021-12-310000092230us-gaap:LoansMemberus-gaap:FairValueInputsLevel2Member2021-12-310000092230us-gaap:LoansMemberus-gaap:FairValueInputsLevel3Member2021-12-310000092230us-gaap:OtherInvestmentsMemberus-gaap:FairValueInputsLevel1Member2021-12-310000092230us-gaap:OtherInvestmentsMemberus-gaap:FairValueInputsLevel2Member2021-12-310000092230us-gaap:OtherInvestmentsMemberus-gaap:FairValueInputsLevel3Member2021-12-310000092230us-gaap:FairValueInputsLevel3Member2021-12-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueInputsLevel1Member2021-12-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMemberus-gaap:FairValueInputsLevel2Member2021-12-310000092230us-gaap:FairValueConcentrationOfCreditRiskMasterNettingArrangementsMember2021-12-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2019-12-310000092230us-gaap:LoansReceivableMember2019-12-310000092230us-gaap:ServicingContractsMember2019-12-310000092230us-gaap:DerivativeMember2019-12-310000092230us-gaap:PrivateEquityFundsMember2019-12-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2020-01-012020-12-310000092230us-gaap:LoansReceivableMember2020-01-012020-12-310000092230us-gaap:ServicingContractsMember2020-01-012020-12-310000092230us-gaap:DerivativeMember2020-01-012020-12-310000092230us-gaap:PrivateEquityFundsMember2020-01-012020-12-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2020-12-310000092230us-gaap:LoansReceivableMember2020-12-310000092230us-gaap:ServicingContractsMember2020-12-310000092230us-gaap:DerivativeMember2020-12-310000092230us-gaap:PrivateEquityFundsMember2020-12-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-01-012021-12-310000092230us-gaap:LoansReceivableMember2021-01-012021-12-310000092230us-gaap:ServicingContractsMember2021-01-012021-12-310000092230us-gaap:DerivativeMember2021-01-012021-12-310000092230us-gaap:PrivateEquityFundsMember2021-01-012021-12-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-12-310000092230us-gaap:LoansReceivableMember2021-12-310000092230us-gaap:ServicingContractsMember2021-12-310000092230us-gaap:DerivativeMember2021-12-310000092230us-gaap:PrivateEquityFundsMember2021-12-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-01-012022-12-310000092230us-gaap:LoansReceivableMember2022-01-012022-12-310000092230us-gaap:ServicingContractsMember2022-01-012022-12-310000092230us-gaap:DerivativeMember2022-01-012022-12-310000092230us-gaap:PrivateEquityFundsMember2022-01-012022-12-310000092230us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2022-12-310000092230us-gaap:LoansReceivableMember2022-12-310000092230us-gaap:ServicingContractsMember2022-12-310000092230us-gaap:DerivativeMember2022-12-310000092230us-gaap:PrivateEquityFundsMember2022-12-310000092230us-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMember2022-12-310000092230us-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMember2021-12-310000092230us-gaap:FinanceReceivablesMember2022-12-310000092230us-gaap:FinanceReceivablesMember2021-12-310000092230tfc:HeldForSaleMemberMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-12-310000092230tfc:HeldForSaleMemberMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-310000092230us-gaap:FairValueInputsLevel3Membertfc:LoansAndLeasesMemberus-gaap:FairValueMeasurementsNonrecurringMember2022-12-310000092230us-gaap:FairValueInputsLevel3Membertfc:LoansAndLeasesMemberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-310000092230us-gaap:OtherAssetsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-12-310000092230us-gaap:OtherAssetsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-310000092230tfc:HeldForSaleMemberMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-01-012022-12-310000092230tfc:HeldForSaleMemberMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-01-012021-12-310000092230tfc:HeldForSaleMemberMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-01-012020-12-310000092230us-gaap:FairValueInputsLevel3Membertfc:LoansAndLeasesMemberus-gaap:FairValueMeasurementsNonrecurringMember2022-01-012022-12-310000092230us-gaap:FairValueInputsLevel3Membertfc:LoansAndLeasesMemberus-gaap:FairValueMeasurementsNonrecurringMember2021-01-012021-12-310000092230us-gaap:FairValueInputsLevel3Membertfc:LoansAndLeasesMemberus-gaap:FairValueMeasurementsNonrecurringMember2020-01-012020-12-310000092230us-gaap:OtherAssetsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-01-012022-12-310000092230us-gaap:OtherAssetsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-01-012021-12-310000092230us-gaap:OtherAssetsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-01-012020-12-310000092230us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000092230us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310000092230us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2022-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000092230us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2021-12-310000092230us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000092230us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2022-12-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000092230us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2021-12-310000092230us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:SwapMemberus-gaap:CommercialLoanMember2022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:SwapMemberus-gaap:CommercialLoanMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:SwapMemberus-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:SwapMemberus-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:SwapMemberus-gaap:FairValueHedgingMemberus-gaap:AvailableforsaleSecuritiesMember2022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:SwapMemberus-gaap:FairValueHedgingMemberus-gaap:AvailableforsaleSecuritiesMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMember2022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:SwapMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:SwapMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:InterestRateContractMembertfc:ClientRelatedAndOtherRiskManagementMembertfc:OptionTradesMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:InterestRateContractMembertfc:ClientRelatedAndOtherRiskManagementMembertfc:OptionTradesMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:InterestRateContractMembertfc:ClientRelatedAndOtherRiskManagementMembertfc:ForwardCommitmentsMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:InterestRateContractMembertfc:ClientRelatedAndOtherRiskManagementMembertfc:ForwardCommitmentsMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:OtherTradingMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:OtherTradingMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2021-12-310000092230tfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:EquityContractMemberus-gaap:NondesignatedMember2022-12-310000092230tfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:EquityContractMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:CreditDefaultSwapMemberus-gaap:CreditRiskContractMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:CreditDefaultSwapMemberus-gaap:CreditRiskContractMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:CreditRiskContractMemberus-gaap:LoansMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:CreditRiskContractMemberus-gaap:LoansMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:CreditRiskContractMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMemberus-gaap:LoanParticipationsAndAssignmentsMember2022-12-310000092230us-gaap:CreditRiskContractMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMemberus-gaap:LoanParticipationsAndAssignmentsMember2021-12-310000092230us-gaap:TotalReturnSwapMemberus-gaap:CreditRiskContractMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:TotalReturnSwapMemberus-gaap:CreditRiskContractMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2021-12-310000092230tfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2022-12-310000092230tfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-12-310000092230us-gaap:CommodityContractMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:CommodityContractMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2021-12-310000092230tfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2022-12-310000092230tfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:SwapMemberus-gaap:MortgagesMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:SwapMemberus-gaap:MortgagesMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:MortgagesMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:MortgagesMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:MortgagesMembertfc:WhenIssuedSecuritiesAndForwardRateAgreementsAndForwardCommitmentsMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:MortgagesMembertfc:WhenIssuedSecuritiesAndForwardRateAgreementsAndForwardCommitmentsMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:OtherTradingMemberus-gaap:MortgagesMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:OtherTradingMemberus-gaap:MortgagesMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:MortgagesMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:MortgagesMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:SwapMemberus-gaap:ServicingContractsMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:SwapMemberus-gaap:ServicingContractsMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:ServicingContractsMembertfc:OptionTradesMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:ServicingContractsMembertfc:OptionTradesMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:ServicingContractsMembertfc:WhenIssuedSecuritiesAndForwardRateAgreementsAndForwardCommitmentsMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:ServicingContractsMembertfc:WhenIssuedSecuritiesAndForwardRateAgreementsAndForwardCommitmentsMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:ServicingContractsMemberus-gaap:OtherTradingMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:ServicingContractsMemberus-gaap:OtherTradingMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:ServicingContractsMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:ServicingContractsMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:NondesignatedMember2022-12-310000092230us-gaap:NondesignatedMember2021-12-310000092230tfc:DerivativesSubjecttoMasterNettingArrangementMember2022-12-310000092230tfc:DerivativesNotSubjectToMasterNettingArrangementMember2022-12-310000092230us-gaap:ExchangeTradedMember2022-12-310000092230tfc:DerivativesSubjecttoMasterNettingArrangementMember2021-12-310000092230tfc:DerivativesNotSubjectToMasterNettingArrangementMember2021-12-310000092230us-gaap:ExchangeTradedMember2021-12-310000092230us-gaap:FairValueHedgingMemberus-gaap:AvailableforsaleSecuritiesMember2022-12-310000092230us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMemberus-gaap:AvailableforsaleSecuritiesMember2022-12-310000092230us-gaap:FairValueHedgingMemberus-gaap:NondesignatedMemberus-gaap:AvailableforsaleSecuritiesMember2022-12-310000092230us-gaap:FairValueHedgingMemberus-gaap:AvailableforsaleSecuritiesMember2021-12-310000092230us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMemberus-gaap:AvailableforsaleSecuritiesMember2021-12-310000092230us-gaap:FairValueHedgingMemberus-gaap:NondesignatedMemberus-gaap:AvailableforsaleSecuritiesMember2021-12-310000092230us-gaap:LoansAndFinanceReceivablesMemberus-gaap:FairValueHedgingMember2022-12-310000092230us-gaap:LoansAndFinanceReceivablesMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMember2022-12-310000092230us-gaap:LoansAndFinanceReceivablesMemberus-gaap:FairValueHedgingMemberus-gaap:NondesignatedMember2022-12-310000092230us-gaap:LoansAndFinanceReceivablesMemberus-gaap:FairValueHedgingMember2021-12-310000092230us-gaap:LoansAndFinanceReceivablesMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMember2021-12-310000092230us-gaap:LoansAndFinanceReceivablesMemberus-gaap:FairValueHedgingMemberus-gaap:NondesignatedMember2021-12-310000092230us-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2022-12-310000092230us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2022-12-310000092230us-gaap:FairValueHedgingMemberus-gaap:NondesignatedMemberus-gaap:LongTermDebtMember2022-12-310000092230us-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2021-12-310000092230us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMember2021-12-310000092230us-gaap:FairValueHedgingMemberus-gaap:NondesignatedMemberus-gaap:LongTermDebtMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:CommercialLoanMember2022-01-012022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:CommercialLoanMember2021-01-012021-12-310000092230us-gaap:CashFlowHedgingMemberus-gaap:InterestRateContractMember2022-01-012022-12-310000092230us-gaap:CashFlowHedgingMemberus-gaap:InterestRateContractMember2021-01-012021-12-310000092230us-gaap:CashFlowHedgingMemberus-gaap:InterestRateContractMember2020-01-012020-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DepositsMemberus-gaap:InterestExpenseMember2022-01-012022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DepositsMemberus-gaap:InterestExpenseMember2021-01-012021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DepositsMemberus-gaap:InterestExpenseMember2020-01-012020-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:ShortTermDebtMemberus-gaap:InterestExpenseMember2022-01-012022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:ShortTermDebtMemberus-gaap:InterestExpenseMember2021-01-012021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:ShortTermDebtMemberus-gaap:InterestExpenseMember2020-01-012020-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMemberus-gaap:LongTermDebtMember2022-01-012022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMemberus-gaap:LongTermDebtMember2021-01-012021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMemberus-gaap:LongTermDebtMember2020-01-012020-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2022-01-012022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2021-01-012021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:InterestExpenseMember2020-01-012020-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:OtherExpenseMemberus-gaap:DepositsMember2022-01-012022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:OtherExpenseMemberus-gaap:DepositsMember2021-01-012021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:OtherExpenseMemberus-gaap:ShortTermDebtMember2022-01-012022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:OtherExpenseMemberus-gaap:ShortTermDebtMember2021-01-012021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:OtherExpenseMemberus-gaap:LongTermDebtMember2022-01-012022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:OtherExpenseMemberus-gaap:LongTermDebtMember2021-01-012021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:OtherExpenseMember2022-01-012022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:OtherExpenseMember2021-01-012021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:AvailableforsaleSecuritiesMembertfc:NetInterestIncomeMember2022-01-012022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:AvailableforsaleSecuritiesMembertfc:NetInterestIncomeMember2021-01-012021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:AvailableforsaleSecuritiesMembertfc:NetInterestIncomeMember2020-01-012020-12-310000092230us-gaap:LoansAndFinanceReceivablesMemberus-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembertfc:NetInterestIncomeMember2022-01-012022-12-310000092230us-gaap:LoansAndFinanceReceivablesMemberus-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembertfc:NetInterestIncomeMember2021-01-012021-12-310000092230us-gaap:LoansAndFinanceReceivablesMemberus-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembertfc:NetInterestIncomeMember2020-01-012020-12-310000092230us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMembertfc:NetInterestIncomeMember2022-01-012022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMembertfc:NetInterestIncomeMember2021-01-012021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMembertfc:NetInterestIncomeMember2020-01-012020-12-310000092230us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembertfc:NetInterestIncomeMember2022-01-012022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembertfc:NetInterestIncomeMember2021-01-012021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMembertfc:NetInterestIncomeMember2020-01-012020-12-310000092230us-gaap:CashFlowHedgingMember2022-12-310000092230us-gaap:CashFlowHedgingMember2021-12-310000092230us-gaap:CashFlowHedgingMember2022-01-012022-12-310000092230us-gaap:CashFlowHedgingMember2021-01-012021-12-310000092230us-gaap:FairValueHedgingMember2022-12-310000092230us-gaap:FairValueHedgingMember2021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:OtherIncomeMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2022-01-012022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:OtherIncomeMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2021-01-012021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:OtherIncomeMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2020-01-012020-12-310000092230us-gaap:OtherIncomeMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2022-01-012022-12-310000092230us-gaap:OtherIncomeMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-01-012021-12-310000092230us-gaap:OtherIncomeMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2020-01-012020-12-310000092230us-gaap:OtherIncomeMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:EquityContractMemberus-gaap:NondesignatedMember2022-01-012022-12-310000092230us-gaap:OtherIncomeMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:EquityContractMemberus-gaap:NondesignatedMember2021-01-012021-12-310000092230us-gaap:OtherIncomeMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:EquityContractMemberus-gaap:NondesignatedMember2020-01-012020-12-310000092230us-gaap:CreditRiskContractMemberus-gaap:OtherIncomeMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2022-01-012022-12-310000092230us-gaap:CreditRiskContractMemberus-gaap:OtherIncomeMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2021-01-012021-12-310000092230us-gaap:CreditRiskContractMemberus-gaap:OtherIncomeMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2020-01-012020-12-310000092230us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMemberus-gaap:CommodityContractMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2022-01-012022-12-310000092230us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMemberus-gaap:CommodityContractMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2021-01-012021-12-310000092230us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMemberus-gaap:CommodityContractMembertfc:ClientRelatedAndOtherRiskManagementMemberus-gaap:NondesignatedMember2020-01-012020-12-310000092230us-gaap:InterestRateContractMemberus-gaap:MortgagesMemberus-gaap:RealEstateMemberus-gaap:NondesignatedMember2022-01-012022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:MortgagesMemberus-gaap:RealEstateMemberus-gaap:NondesignatedMember2021-01-012021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:MortgagesMemberus-gaap:RealEstateMemberus-gaap:NondesignatedMember2020-01-012020-12-310000092230us-gaap:InterestRateContractMemberus-gaap:RealEstateMembertfc:CommercialMortgageBankingIncomeMemberus-gaap:NondesignatedMember2022-01-012022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:RealEstateMembertfc:CommercialMortgageBankingIncomeMemberus-gaap:NondesignatedMember2021-01-012021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:RealEstateMembertfc:CommercialMortgageBankingIncomeMemberus-gaap:NondesignatedMember2020-01-012020-12-310000092230us-gaap:InterestRateContractMemberus-gaap:ServicingContractsMemberus-gaap:RealEstateMemberus-gaap:NondesignatedMember2022-01-012022-12-310000092230us-gaap:InterestRateContractMemberus-gaap:ServicingContractsMemberus-gaap:RealEstateMemberus-gaap:NondesignatedMember2021-01-012021-12-310000092230us-gaap:InterestRateContractMemberus-gaap:ServicingContractsMemberus-gaap:RealEstateMemberus-gaap:NondesignatedMember2020-01-012020-12-310000092230us-gaap:InterestRateContractMembertfc:LoanServicingRightsCommercialMortgagesMemberus-gaap:RealEstateMemberus-gaap:NondesignatedMember2022-01-012022-12-310000092230us-gaap:InterestRateContractMembertfc:LoanServicingRightsCommercialMortgagesMemberus-gaap:RealEstateMemberus-gaap:NondesignatedMember2021-01-012021-12-310000092230us-gaap:InterestRateContractMembertfc:LoanServicingRightsCommercialMortgagesMemberus-gaap:RealEstateMemberus-gaap:NondesignatedMember2020-01-012020-12-310000092230us-gaap:NondesignatedMember2022-01-012022-12-310000092230us-gaap:NondesignatedMember2021-01-012021-12-310000092230us-gaap:NondesignatedMember2020-01-012020-12-310000092230us-gaap:OtherCreditDerivativesMember2022-12-310000092230us-gaap:OtherCreditDerivativesMember2021-12-310000092230us-gaap:TotalReturnSwapMember2022-12-310000092230us-gaap:TotalReturnSwapMember2021-12-310000092230tfc:DealerCounterpartiesMember2022-12-310000092230tfc:DealerCounterpartiesMember2021-12-310000092230tfc:CentralClearingPartiesMember2022-12-310000092230tfc:CentralClearingPartiesMember2021-12-310000092230tfc:CentralClearingPartiesMemberus-gaap:AssetPledgedAsCollateralMember2022-12-310000092230tfc:CentralClearingPartiesMemberus-gaap:AssetPledgedAsCollateralMember2021-12-31tfc:numberOfSegments0000092230us-gaap:IntersegmentEliminationMember2022-01-012022-12-310000092230us-gaap:IntersegmentEliminationMember2021-01-012021-12-310000092230us-gaap:IntersegmentEliminationMember2020-01-012020-12-310000092230us-gaap:OperatingSegmentsMember2022-01-012022-12-310000092230us-gaap:OperatingSegmentsMember2021-01-012021-12-310000092230us-gaap:OperatingSegmentsMember2020-01-012020-12-310000092230us-gaap:OperatingSegmentsMember2022-12-310000092230us-gaap:OperatingSegmentsMember2021-12-310000092230us-gaap:OperatingSegmentsMember2020-12-310000092230srt:ParentCompanyMember2022-12-310000092230srt:ParentCompanyMember2021-12-310000092230srt:ParentCompanyMembertfc:BankingSubsidiariesMember2022-12-310000092230srt:ParentCompanyMembertfc:BankingSubsidiariesMember2021-12-310000092230srt:ParentCompanyMembertfc:NonbankSubsidiariesMember2022-12-310000092230srt:ParentCompanyMembertfc:NonbankSubsidiariesMember2021-12-310000092230srt:ParentCompanyMembertfc:BankingSubsidiariesMember2022-01-012022-12-310000092230srt:ParentCompanyMembertfc:BankingSubsidiariesMember2021-01-012021-12-310000092230srt:ParentCompanyMembertfc:BankingSubsidiariesMember2020-01-012020-12-310000092230srt:ParentCompanyMembertfc:NonbankSubsidiariesMember2022-01-012022-12-310000092230srt:ParentCompanyMembertfc:NonbankSubsidiariesMember2021-01-012021-12-310000092230srt:ParentCompanyMembertfc:NonbankSubsidiariesMember2020-01-012020-12-310000092230srt:ParentCompanyMember2022-01-012022-12-310000092230srt:ParentCompanyMember2021-01-012021-12-310000092230srt:ParentCompanyMember2020-01-012020-12-310000092230srt:ParentCompanyMember2020-12-310000092230srt:ParentCompanyMember2019-12-31

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________________________________________________________
FORM 10-K
_________________________________________________________________
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2022

Commission File Number: 1-10853
TRUIST FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
_________________________________________________________________
North Carolina56-0939887
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
214 North Tryon Street
Charlotte,North Carolina28202
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code:(336)733-2000
_________________________________________________________________
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, $5 par valueTFCNew York Stock Exchange
Depositary Shares each representing 1/4,000th interest in a share of Series I Perpetual Preferred StockTFC.PINew York Stock Exchange
5.853% Fixed-to-Floating Rate Normal Preferred Purchase Securities each representing 1/100th interest in a share of Series J Perpetual Preferred StockTFC.PJNew York Stock Exchange
Depositary Shares each representing 1/1,000th interest in a share of Series O Non-Cumulative Perpetual Preferred StockTFC.PONew York Stock Exchange
Depositary Shares each representing 1/1,000th interest in a share of Series R Non-Cumulative Perpetual Preferred StockTFC.PRNew York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer
Non-accelerated filerSmaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No
At January 31, 2023, the Company had 1,327,909,982 shares of its common stock, $5 par value, outstanding. As of June 30, 2022, the aggregate market value of voting stock held by nonaffiliates of the Company was approximately $62.7 billion. Documents incorporated by reference: Portions of the definitive proxy statement relating to the registrant’s 2023 annual meeting of stockholders are incorporated by reference in this Form 10-K in response to Items 10, 11, 12, 13 and 14 of Part III.


TABLE OF CONTENTS
TRUIST FINANCIAL CORPORATION
FORM 10-K
December 31, 2022
Page No.
PART I
Glossary of Defined Terms
Forward-Looking Statements
Item 1Business
Item 1ARisk Factors
Item 1BUnresolved Staff Comments (None to be reported) 
Item 2Properties
Item 3Legal Proceedings (see Note 16)
Item 4Mine Safety Disclosures (Not applicable) 
PART II
Item 5
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Item 7Management’s Discussion and Analysis of Financial Condition and Results of Operations
Executive Overview
Analysis of Results of Operations
Analysis of Financial Condition
Risk Management
Liquidity
Capital
Item 7AQuantitative and Qualitative Disclosures About Market Risk (see Market Risk)
Item 8Financial Statements and Supplementary Data 
Report of Independent Registered Public Accounting Firm (PCAOB ID: 238)
 Consolidated Balance Sheets
 Consolidated Statements of Income
 Consolidated Statements of Comprehensive Income
 Consolidated Statements of Changes in Shareholders’ Equity
 Consolidated Statements of Cash Flows
 Notes to Consolidated Financial Statements 
 Note 1. Basis of Presentation
 Note 2. Business Combinations
Note 3. Securities Financing Activities
 Note 4. Investment Securities
 Note 5. Loans and ACL
Note 6. Premises and Equipment
Note 7. Goodwill and Other Intangible Assets
Note 8. Loan Servicing
 Note 9. Other Assets and Liabilities
 Note 10. Deposits
 Note 11. Borrowings
 Note 12. Shareholders’ Equity
 Note 13. AOCI
 Note 14. Income Taxes
 Note 15. Benefit Plans
 Note 16. Commitments and Contingencies
 Note 17. Regulatory Requirements and Other Restrictions
 Note 18. Fair Value Disclosures
 Note 19. Derivative Financial Instruments
 Note 20. Computation of EPS
 Note 21. Operating Segments
Note 22. Parent Company Financial Information
Note 23. Subsequent Events
Item 9Changes in and Disagreements with Accountants on Accounting and Financial Disclosure (None to be reported)
Item 9AControls and Procedures
Item 9BOther Information (None to be reported) 
Item 9CDisclosure Regarding Foreign Jurisdictions that Prevent Inspections (Not applicable)
PART III
Item 10Directors, Executive Officers and Corporate Governance*
Item 11Executive Compensation*
Item 12Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters*
Item 13Certain Relationships and Related Transactions, and Director Independence*
Item 14Principal Accounting Fees and Services*
PART IV
Item 15Exhibits, Financial Statement Schedules 
 Financial Statements (see Listing in Item 8 above) 
 Exhibits
 Financial Statement Schedules (None required) 
Item 16Form 10-K Summary (None)



*
For information regarding executive officers, refer to “Executive Officers” in Part I. The other information required by Item 10 is incorporated herein by reference to the information that appears under the headings “Nominees for Election as Directors for a One-Year Term Expiring in 2024,” “Nominating and Governance Committee Director Nominations,” “Ethics at Truist,” “Corporate Governance Guidelines,” “Audit Committee Report” and “Audit Committee” in the Registrant’s Proxy Statement for the 2023 Annual Meeting of Shareholders.

The information required by Item 11 is incorporated herein by reference to the information that appears under the headings “Compensation Discussion and Analysis,” “Compensation of Executive Officers,” “Compensation and Human Capital Committee Report on Executive Compensation,” “Compensation and Human Capital Committee Interlocks and Insider Participation” and “Compensation of Directors” in the Registrant’s Proxy Statement for the 2023 Annual Meeting of Shareholders.

For information regarding the registrant’s securities authorized for issuance under equity compensation plans, refer to “Equity Compensation Plan Information” in Part II herein. The other information required by Item 12 is incorporated herein by reference to the information that appears under the heading “Stock Ownership Information” in the Registrant’s Proxy Statement for the 2023 Annual Meeting of Shareholders.

The information required by Item 13 is incorporated herein by reference to the information that appears under the headings “Director Independence” and “Related Person Transactions” in the Registrant’s Proxy Statement for the 2023 Annual Meeting of Shareholders.

The information required by Item 14 is incorporated herein by reference to the information that appears under the headings “Fees to Independent Registered Public Accounting Firm” and “Audit Committee Pre-Approval Policy” in the Registrant’s Proxy Statement for the 2023 Annual Meeting of Shareholders.




Glossary of Defined Terms
The following terms may be used throughout this report, including the consolidated financial statements and related notes.
TermDefinition
ACL
Allowance for credit losses
AFS
Available-for-sale
Agency MBS
Mortgage-backed securities issued by a U.S. government agency or GSE
ALLL
Allowance for loan and lease losses
ALMAsset/Liability management
ARRC
Alternative Reference Rates Committee of the FRB and the Federal Reserve Bank of New York
AOCI
Accumulated other comprehensive income (loss)
Basel III RulesRules issued by the FRB, OCC, and FDIC on capital adequacy and liquidity requirements in the U.S for banking organizations.
BB&T
BB&T Corporation and subsidiaries (changed to “Truist Financial Corporation” effective with the Merger)
BCBS
Basel Committee on Banking Supervision
BHC
Bank holding company
BHCA
Bank Holding Company Act of 1956, as amended
BoardTruist’s Board of Directors
Branch Bank
Branch Banking and Trust Company (changed to “Truist Bank” effective with the Merger)
BSA/AML
Bank Secrecy Act/Anti-Money Laundering
C&CB
Corporate and Commercial Banking, an operating segment
CARES ActThe Coronavirus Aid, Relief, and Economic Security Act
CB&W
Consumer Banking and Wealth, an operating segment
CCAR
Comprehensive Capital Analysis and Review
CCBCapital Conservation Buffer
CD
Certificate of deposit
CDI
Core deposit intangible
CECLCurrent expected credit loss model
CEO
Chief Executive Officer
CFTCCommodity Futures Trading Commission
CFO
Chief Financial Officer
CET1
Common equity tier 1
CIBCorporate and Investment Banking
CFPB
Consumer Financial Protection Bureau
CMO
Collateralized mortgage obligation
Company
Truist Financial Corporation and its subsidiaries (interchangeable with “Truist” below)
COVID-19Coronavirus disease 2019
CRA
Community Reinvestment Act of 1977
CRE
Commercial real estate
CRO
Chief Risk Officer
DCDisclosure Committee
DEI
Diversity, Equity & Inclusion
DIF
Deposit Insurance Fund administered by the FDIC
Dodd-Frank Act
Dodd-Frank Wall Street Reform and Consumer Protection Act
DTADeferred tax asset
DTLDeferred tax liability
EBPCCEthics, Business Practices, and Conduct Committee
ECRCEnterprise Credit Risk Committee
EGRRCPA
Economic Growth, Regulatory Relief, and Consumer Protection Act
ERCEnterprise Risk Committee
ERISAEmployee Retirement Income Security Act of 1974
EPS
Earnings per common share
ESGEnvironmental, Social, and Governance
Exchange Act
Securities Exchange Act of 1934, as amended
FASB
Financial Accounting Standards Board
FDIC
Federal Deposit Insurance Corporation
FHA
Federal Housing Administration
FHC
Financial holding company
FHLB
Federal Home Loan Bank
FHLMC
Federal Home Loan Mortgage Corporation
FINRA
Financial Industry Regulatory Authority
FNMA
Federal National Mortgage Association
FRB
Board of Governors of the Federal Reserve System
FTE
Full-time equivalent employee
GAAP
Accounting principles generally accepted in the United States of America
GDPGross Domestic Product
GLBAGramm-Leach-Bliley Act
GNMA
Government National Mortgage Association
Grandbridge
Grandbridge Real Estate Capital, LLC
GSE
U.S. government-sponsored enterprise
HFI
Held for investment
HMDA
Home Mortgage Disclosure Act
Truist Financial Corporation 1


TermDefinition
HQLA
High-quality liquid assets
HTM
Held-to-maturity
IDI
Insured depository institution
IH
Insurance Holdings, an operating segment
IPV
Independent price verification
IRC
Internal Revenue Code
IRS
Internal Revenue Service
ISDA
International Swaps and Derivatives Association, Inc.
LCR
Liquidity Coverage Ratio
LHFS
Loans held for sale
LIBOR
London Interbank Offered Rate
LOCOMLower of cost or market
Market Risk RuleMarket risk capital requirements issued jointly by the OCC, U.S. Treasury, FRB, and FDIC
MBS
Mortgage-backed securities
MD&AManagement’s Discussion and Analysis of Financial Condition and Results of Operations
MergerMerger of BB&T and SunTrust effective December 6, 2019
MRLCC
Market Risk, Liquidity and Capital Committee
MRO
Model Risk Oversight
MSR
Mortgage servicing right
MSRB
Municipal Securities Rulemaking Board
NA
Not applicable
NCCOB
North Carolina Office of the Commissioner of Banks
NFANational Futures Association
NIM
Net interest margin, computed on a TE basis
NM
Not meaningful
NPA
Nonperforming asset
NPL
Nonperforming loan
NSFR
Net stable funding ratio
NYSE
New York Stock Exchange
OAS
Option adjusted spread
OCCOffice of the Comptroller of the Currency
OCI
Other comprehensive income (loss)
OFAC
U.S. Department of the Treasury’s Office of Foreign Assets Control
OPEB
Other post-employment benefit
OREO
Other real estate owned
OT&C
Other, Treasury and Corporate
OTCOver-the-counter
Parent Company
Truist Financial Corporation, the parent company of Truist Bank and other subsidiaries
Patriot Act
Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001
PCD
Purchased credit deteriorated loans
PCI
Purchased credit impaired loans
PPPPaycheck Protection Program, established by the CARES Act
PSUPerformance share units
Re-REMICsRe-securitizations of Real Estate Mortgage Investment Conduits
RMO
Risk Management Organization
ROU assets
Right-of-use assets
RSARestricted stock award
RSU
Restricted stock unit
RUFC
Reserve for unfunded lending commitments
S&P
Standard & Poor’s
SBASmall Business Administration
SBIC
Small Business Investment Company
SCBStress Capital Buffer
SEC
Securities and Exchange Commission
SOFR
Secured Overnight Financing Rate
SunTrust
SunTrust Banks, Inc.
Tailoring Rules
The final rules changing the applicability thresholds for regulatory capital and liquidity requirements, issued by the OCC, FRB, and FDIC, together with the final rules changing the applicability thresholds for enhanced prudential standards issued by the FRB
TDR
Troubled debt restructuring
TE
Taxable-equivalent
TMCTechnology Management Committee
TRSTotal Return Swap
Truist
Truist Financial Corporation and its subsidiaries (interchangeable with the “Company” above)
Truist BankTruist Bank, formerly Branch Banking and Trust Company
U.S.
United States of America
U.S. Treasury
United States Department of the Treasury
UPB
Unpaid principal balance
USAAUnited Services Automobile Association
UTBUnrecognized tax benefit
VaR
Value-at-risk
VIE
Variable interest entity
2 Truist Financial Corporation


Forward-Looking Statements

This Annual Report on Form 10-K contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the financial condition, results of operations, business plans and the future performance of Truist. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “may,” “will,” “should,” “would,” “could,” and other similar expressions are intended to identify these forward-looking statements.

Forward-looking statements are not based on historical facts but instead represent management’s expectations and assumptions regarding Truist’s business, the economy, and other future conditions. Such statements involve inherent uncertainties, risks, and changes in circumstances that are difficult to predict. As such, Truist’s actual results may differ materially from those contemplated by forward-looking statements. While there can be no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those contemplated by forward-looking statements include the following, without limitation, as well as the risks and uncertainties more fully discussed in Item 1A-Risk Factors:

changes in the interest rate environment, including the replacement of LIBOR as an interest rate benchmark, could adversely affect Truist’s revenue and expenses, the value of assets and obligations, and the availability and cost of capital, cash flows, and liquidity;
Truist is subject to credit risk by lending or committing to lend money, may have more credit risk and higher credit losses to the extent that loans are concentrated by loan type, industry segment, borrower type or location of the borrower or collateral, and may suffer losses if the value of collateral declines in stressed market conditions;
inability to access short-term funding or liquidity, loss of client deposits or changes in Truist’s credit ratings could increase the cost of funding or limit access to capital markets;
general economic or business conditions, either globally, nationally or regionally, may be less favorable than expected, including as a result of supply chain disruptions, inflationary pressures and labor shortages, and instability in global geopolitical matters, including due to an outbreak or escalation of hostilities, or volatility in financial markets could result in, among other things, slower deposit or asset growth, a deterioration in credit quality, or a reduced demand for credit, insurance, or other services;
the monetary and fiscal policies of the federal government and its agencies, including in response to rising inflation, could have a material adverse effect on the economy and Truist’s profitability;
the effects of COVID-19 adversely impacted the Company’s operations and financial performance and similar adverse impacts resulting from pandemics could occur in future periods;
risk management oversight functions may not identify or address risks adequately, and management may not be able to effectively manage credit risk;
there are risks resulting from the extensive use of models in Truist’s business, which may impact decisions made by management and regulators;
deposit attrition, client loss or revenue loss following completed mergers or acquisitions may be greater than anticipated;
Truist could fail to execute on strategic or operational plans, including the ability to successfully complete or integrate mergers and acquisitions;
increased competition, including from (i) new or existing competitors that could have greater financial resources or be subject to different regulatory standards or compliance costs, and (ii) products and services offered by non-bank financial technology companies, may reduce Truist’s client base, cause Truist to lower prices for its products and services in order to maintain market share or otherwise adversely impact Truist’s businesses or results of operations;
failure to maintain or enhance Truist’s competitive position with respect to new products, services, and technology, whether it fails to anticipate client expectations or because its technological developments fail to perform as desired or do not achieve market acceptance or regulatory approval or for other reasons, may cause Truist to lose market share or incur additional expense;
negative public opinion could damage Truist’s reputation and adversely impact business and revenues;
regulatory matters, litigation or other legal actions may result in, among other things, costs, fines, penalties, restrictions on Truist’s business activities, reputational harm, negative publicity, or other adverse consequences;
Truist faces substantial legal and operational risks in safeguarding personal information;
evolving legislative, accounting and regulatory standards, including with respect to climate, capital, and liquidity requirements, and results of regulatory examinations may adversely affect Truist’s financial condition and results of operations;
increased scrutiny regarding Truist’s consumer sales practices, training practices, incentive compensation design, and governance could damage its reputation and adversely impact business and revenues;
accounting policies and processes require management to make estimates about matters that are uncertain, including the potential write down to goodwill if there is an elongated period of decline in market value for Truist’s stock and adverse economic conditions are sustained over a period of time;
Truist faces risks related to originating and selling mortgages, including repurchase and indemnity demands from purchasers related to representations and warranties on loans sold, which could result in an increase in the amount of losses for loan repurchases;
there are risks relating to Truist’s role as a loan servicer, including an increase in the scope or costs of the services Truist is required to perform without any corresponding increase in servicing fees or a breach of Truist’s obligations as servicer;
Truist’s success depends on hiring and retaining key teammates, and if these individuals leave or change roles without effective replacements, Truist’s operations could be adversely impacted, which could be exacerbated in the increased work-from-home environment as job markets may be less constrained by physical geography;
Truist’s operations rely on its ability, and the ability of key external parties, to maintain appropriate-staffed workforces, and on the competence, trustworthiness, health and safety of teammates;
Truist faces the risk of fraud or misconduct by internal or external parties, which Truist may not be able to prevent, detect, or mitigate;
security risks, including denial of service attacks, hacking, social engineering attacks targeting Truist’s teammates and clients, malware intrusion, data corruption attempts, system breaches, cyberattacks, which have increased in frequency with geopolitical tensions, identity theft, ransomware attacks, and physical security risks, such as natural disasters, environmental conditions, and intentiona