EX-99 2 ex991-4qhistory.htm EX-99 Document

EX99.1
Unaudited Supplemental Historical Financial Information
The unaudited supplemental historical information below is being provided for illustrative purposes only and does not purport to represent what Truist Financial Corporations’s ("Truist") actual results of operations or financial position would have been had the sale of Truist's remaining equity interests in its insurance brokerage subsidiary, Truist Insurance Holdings, LLC, been completed at an earlier date, nor is it necessarily indicative of Truist’s results of operations or financial position for any future period.

Historical Unaudited Ending Balance Sheets
Dec. 31Sept. 30June 30March 31
(Dollars in millions)2023202320232023
Assets
Cash and due from banks$5,000 $5,090 $4,733 $4,590 
Interest-bearing deposits with banks25,230 24,305 24,934 32,768 
Securities borrowed or purchased under resale agreements 2,378 2,018 2,315 3,637 
Trading assets at fair value4,332 4,384 4,097 4,601 
Securities available for sale at fair value67,366 65,117 68,965 71,858 
Securities held to maturity at amortized cost54,107 54,942 55,958 56,932 
Loans and leases:
Commercial:
Commercial and industrial160,788 162,330 167,153 167,217 
CRE22,570 22,736 22,825 22,670 
Commercial construction6,683 6,343 5,943 5,951 
Consumer:
Residential mortgage55,492 56,013 56,476 56,455 
Home equity10,053 10,160 10,348 10,577 
Indirect auto22,727 24,084 25,759 27,279 
Other consumer28,647 29,105 28,755 27,742 
Student— — — 4,996 
Credit card5,101 4,928 4,833 4,786 
Total loans and leases held for investment312,061 315,699 322,092 327,673 
Loans held for sale1,280 1,413 1,923 2,160 
Total loans and leases313,341 317,112 324,015 329,833 
Allowance for loan and lease losses(4,798)(4,693)(4,606)(4,479)
Premises and equipment3,298 3,319 3,379 3,441 
Goodwill17,156 23,234 23,235 23,235 
Core deposit and other intangible assets1,909 2,011 2,111 2,212 
Loan servicing rights at fair value3,378 3,537 3,497 3,303 
Other assets34,997 34,858 33,864 35,070 
Assets of discontinued operations(1)
7,655 7,473 8,052 7,353 
Total assets$535,349 $542,707 $554,549 $574,354 
Liabilities
Deposits:
Noninterest-bearing deposits$111,624 $116,674 $121,831 $128,719 
Interest checking104,757 103,288 106,471 107,116 
Money market and savings135,923 137,914 135,514 136,836 
Time deposits43,561 42,148 42,227 32,326 
Total deposits395,865 400,024 406,043 404,997 
Short-term borrowings24,828 23,485 24,456 23,678 
Long-term debt38,918 41,232 44,749 69,895 
Other liabilities12,946 12,962 11,788 10,731 
Liabilities of discontinued operations3,539 2,997 3,832 2,659 
Total liabilities476,096 480,700 490,868 511,960 
Shareholders’ Equity:
Preferred stock6,673 6,673 6,673 6,673 
Common stock6,669 6,668 6,660 6,660 
Additional paid-in capital 36,177 36,114 35,990 34,582 
Retained earnings22,088 27,944 27,577 27,038 
Accumulated other comprehensive loss(12,506)(15,559)(13,374)(12,581)
Noncontrolling interests152 167 155 22 
Total shareholders’ equity59,253 62,007 63,681 62,394 
Total liabilities and shareholders’ equity$535,349 $542,707 $554,549 $574,354 
(1)    Includes goodwill and intangible assets of $5.0 billion as of December 31, 2023, $5.0 billion as of September 30, 2023, $5.1 billion as of June 30, 2023, and $5.1 billion as of March 31, 2023.

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Historical Unaudited Statements of Income
Quarter Ended
Dec. 31Sept. 30June 30March 31
(Dollars in millions)2023202320232023
Interest Income
Interest and fees on loans and leases$4,971 $4,976 $4,915 $4,656 
Interest on securities802 763 749 752 
Interest on other earning assets493 488 511 376 
Total interest income6,266 6,227 6,175 5,784 
Interest Expense
Interest on deposits1,917 1,858 1,527 1,125 
Interest on long-term debt476 491 734 514 
Interest on other borrowings354 343 311 278 
Total interest expense2,747 2,692 2,572 1,917 
Net Interest Income3,519 3,535 3,603 3,867 
Provision for credit losses572 497 538 502 
Net Interest Income After Provision for Credit Losses2,947 3,038 3,065 3,365 
Noninterest Income
Wealth management income346 343 330 339 
Investment banking and trading income165 185 211 261 
Service charges on deposits229 154 240 250 
Card and payment related fees232 238 236 230 
Mortgage banking income94 102 99 142 
Lending related fees153 102 86 106 
Operating lease income60 63 64 67 
Other income84 147 114 26 
Total noninterest income1,363 1,334 1,380 1,421 
Noninterest Expense
Personnel expense1,474 1,669 1,705 1,668 
Professional fees and outside processing305 289 311 287 
Software expense223 222 223 200 
Net occupancy expense159 164 166 169 
Amortization of intangibles98 98 99 100 
Equipment expense103 89 87 102 
Marketing and customer development53 70 69 68 
Operating lease depreciation42 43 44 46 
Regulatory costs599 77 73 75 
Restructuring charges155 61 48 56 
Goodwill impairment6,078 — — — 
Other expense268 278 221 244 
Total noninterest expense9,557 3,060 3,046 3,015 
Earnings
Income (loss) before income taxes(5,247)1,312 1,399 1,771 
Provision (benefit) for income taxes(56)203 230 361 
Net income (loss) from continuing operations(5,191)1,109 1,169 1,410 
Net income from discontinued operations101 74 176 105 
Net income (loss)(5,090)1,183 1,345 1,515 
Noncontrolling interests from discontinued operations— 36 
Preferred stock dividends and other77 106 75 103 
Net income (loss) available to common shareholders$(5,167)$1,071 $1,234 $1,410 
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