Loans and ACL (Tables)

3 Months Ended

Mar. 31, 2024

Aging Analysis of Past Due Loans and Leases

The following tables present loans and leases HFI by aging category. Government guaranteed loans are not placed on nonperforming status regardless of delinquency because collection of principal and interest is reasonably assured.


	Accruing
March 31, 2024 (Dollars in millions)	Current		30-89 Days Past Due		90 Days Or More Past Due(1)		Nonperforming		Total
Commercial:
Commercial and industrial	$	156,987	$	158	$	12	$	512	$	157,669
CRE	21,860		21		—		261		22,142
Commercial construction	7,449		—		—		23		7,472

Consumer:
Residential mortgage	53,656		638		441		151		54,886
Home equity	9,626		59		10		130		9,825
Indirect auto	21,348		540		1		256		22,145
Other consumer	27,791		226		18		61		28,096

Credit card	4,859		74		56		—		4,989

Total	$	303,576	$	1,716	$	538	$	1,394	$	307,224
(1)Includes government guaranteed loans of $408 million in the residential mortgage portfolio.

	Accruing
December 31, 2023 (Dollars in millions)	Current		30-89 Days Past Due		90 Days Or More Past Due(1)		Nonperforming		Total
Commercial:
Commercial and industrial	$	160,081	$	230	$	7	$	470	$	160,788
CRE	22,281		5		—		284		22,570
Commercial construction	6,658		—		1		24		6,683

Consumer:
Residential mortgage	54,261		639		439		153		55,492
Home equity	9,850		70		11		122		10,053
Indirect auto	21,788		669		2		268		22,727
Other consumer	28,296		271		21		59		28,647

Credit card	4,961		87		53		—		5,101

Total	$	308,176	$	1,971	$	534	$	1,380	$	312,061
(1)Includes government guaranteed loans of $418 million in the residential mortgage portfolio.

Schedule of Carrying Amounts by Risk Rating

The following tables present the amortized cost basis of loans by origination year and credit quality indicator:


March 31, 2024 (Dollars in millions)	Amortized Cost Basis by Origination Year												Revolving Credit		Loans Converted to Term		Other(1)
	2024		2023		2022		2021		2020		Prior								Total
Commercial:
Commercial and industrial:
Pass	$	6,056	$	22,561	$	27,451	$	14,650	$	7,903	$	16,367	$	54,742	$	—	$	(287)	$	149,443
Special mention	99		776		643		434		161		219		826		—		—		3,158
Substandard	69		960		792		443		234		663		1,395		—		—		4,556
Nonperforming	—		114		76		98		29		69		126		—		—		512
Total	6,224		24,411		28,962		15,625		8,327		17,318		57,089		—		(287)		157,669
Gross charge-offs	3		5		33		23		—		10		23		—		—		97
CRE:
Pass	445		3,377		4,593		2,577		1,890		5,227		1,171		—		(66)		19,214
Special mention	12		178		431		115		4		266		—		—		—		1,006
Substandard	99		348		370		233		202		349		60		—		—		1,661
Nonperforming	—		2		20		22		13		204		—		—		—		261
Total	556		3,905		5,414		2,947		2,109		6,046		1,231		—		(66)		22,142
Gross charge-offs	—		8		10		—		—		85		—		—		—		103
Commercial construction:
Pass	88		1,259		2,473		1,305		201		169		843		—		—		6,338
Special mention	1		15		428		187		44		—		100		—		—		775
Substandard	5		25		75		46		98		—		87		—		—		336
Nonperforming	—		—		23		—		—		—		—		—		—		23
Total	94		1,299		2,999		1,538		343		169		1,030		—		—		7,472
Gross charge-offs	—		—		—		—		—		—		—		—		—		—







Consumer:
Residential mortgage:

Current	304		2,847		13,316		16,264		5,648		15,277		—		—		—		53,656
30 - 89 days past due	6		23		62		57		38		452		—		—		—		638
90 days or more past due	—		16		34		29		30		332		—		—		—		441
Nonperforming	—		—		9		15		6		121		—		—		—		151
Total	310		2,886		13,421		16,365		5,722		16,182		—		—		—		54,886
Gross charge-offs	—		—		—		—		—		1		—		—		—		1
Home equity:

Current	—		—		—		—		—		—		6,070		3,556		—		9,626
30 - 89 days past due	—		—		—		—		—		—		41		18		—		59
90 days or more past due	—		—		—		—		—		—		6		4		—		10
Nonperforming	—		—		—		—		—		—		47		83		—		130
Total	—		—		—		—		—		—		6,164		3,661		—		9,825
Gross charge-offs	—		—		—		—		—		—		3		—		—		3
Indirect auto:

Current	1,839		4,236		7,316		4,197		2,155		1,606		—		—		(1)		21,348
30 - 89 days past due	4		84		169		117		67		99		—		—		—		540
90 days or more past due	—		—		1		—		—		—		—		—		—		1
Nonperforming	—		32		79		59		35		51		—		—		—		256
Total	1,843		4,352		7,565		4,373		2,257		1,756		—		—		(1)		22,145
Gross charge-offs	—		24		62		27		14		27		—		—		—		154
Other consumer:

Current	2,248		8,866		6,960		3,312		1,693		2,017		2,677		15		3		27,791
30 - 89 days past due	10		73		69		30		15		22		6		1		—		226
90 days or more past due	—		11		5		—		—		—		2		—		—		18
Nonperforming	—		10		16		14		7		13		—		1		—		61
Total	2,258		8,960		7,050		3,356		1,715		2,052		2,685		17		3		28,096
Gross charge-offs	7		54		50		24		12		10		8		—		—		165







Credit card:
Current	—		—		—		—		—		—		4,836		23		—		4,859
30 - 89 days past due	—		—		—		—		—		—		70		4		—		74
90 days or more past due	—		—		—		—		—		—		54		2		—		56

Total	—		—		—		—		—		—		4,960		29		—		4,989
Gross charge-offs	—		—		—		—		—		—		75		2		—		77
Total	$	11,285	$	45,813	$	65,411	$	44,204	$	20,473	$	43,523	$	73,159	$	3,707	$	(351)	$	307,224
Gross charge-offs	$	10	$	91	$	155	$	74	$	26	$	133	$	109	$	2	$	—	$	600


December 31, 2023 (Dollars in millions)	Amortized Cost Basis by Origination Year												Revolving Credit		Loans Converted to Term		Other(1)
	2023		2022		2021		2020		2019		Prior								Total
Commercial:
Commercial and industrial:
Pass	$	26,836	$	29,877	$	15,683	$	8,436	$	5,918	$	11,539	$	55,026	$	—	$	(211)	$	153,104
Special mention	688		623		557		152		37		197		1,003		—		—		3,257
Substandard	754		628		428		290		289		367		1,201		—		—		3,957
Nonperforming	36		116		99		12		42		31		134		—		—		470
Total	28,314		31,244		16,767		8,890		6,286		12,134		57,364		—		(211)		160,788
Gross charge-offs	20		72		126		21		5		35		111		—		—		390
CRE:
Pass	3,760		4,931		2,651		1,903		2,813		2,666		1,221		—		(70)		19,875
Special mention	185		315		140		79		203		37		—		—		—		959
Substandard	259		350		190		65		243		289		56		—		—		1,452
Nonperforming	2		52		28		15		174		13		—		—		—		284
Total	4,206		5,648		3,009		2,062		3,433		3,005		1,277		—		(70)		22,570
Gross charge-offs	—		58		10		20		29		47		2		—		—		166
Commercial construction:
Pass	1,029		2,196		1,370		287		89		125		840		—		—		5,936
Special mention	3		218		208		—		—		—		1		—		—		430
Substandard	24		48		27		174		—		—		20		—		—		293
Nonperforming	—		23		—		—		1		—		—		—		—		24
Total	1,056		2,485		1,605		461		90		125		861		—		—		6,683
Gross charge-offs	—		5		—		—		—		—		—		—		—		5






Consumer:
Residential mortgage:

Current	2,846		13,481		16,509		5,738		2,822		12,865		—		—		—		54,261
30 - 89 days past due	10		52		43		38		40		456		—		—		—		639
90 or more days past due	7		22		25		31		28		326		—		—		—		439
Nonperforming	—		7		13		7		13		113		—		—		—		153
Total	2,863		13,562		16,590		5,814		2,903		13,760		—		—		—		55,492
Gross charge-offs	—		—		2		1		1		6		—		—		—		10
Home equity:

Current	—		—		—		—		—		—		6,175		3,675		—		9,850
30 - 89 days past due	—		—		—		—		—		—		47		23		—		70
90 days or more past due	—		—		—		—		—		—		7		4		—		11
Nonperforming	—		—		—		—		—		—		42		80		—		122
Total	—		—		—		—		—		—		6,271		3,782		—		10,053
Gross charge-offs	—		—		—		—		—		—		10		—		—		10
Indirect auto:

Current	4,611		8,049		4,689		2,479		1,330		639		—		—		(9)		21,788
30 - 89 days past due	83		213		150		86		71		66		—		—		—		669
90 days or more past due	—		1		1		—		—		—		—		—		—		2
Nonperforming	20		85		63		39		33		28		—		—		—		268
Total	4,714		8,348		4,903		2,604		1,434		733		—		—		(9)		22,727
Gross charge-offs	25		202		118		58		59		69		—		—		—		531
Other consumer:

Current	9,903		7,676		3,715		1,914		1,049		1,207		2,816		13		3		28,296
30 - 89 days past due	86		85		41		23		16		12		7		1		—		271
90 days or more past due	9		8		1		1		—		—		2		—		—		21
Nonperforming	6		14		14		8		6		10		—		1		—		59
Total	10,004		7,783		3,771		1,946		1,071		1,229		2,825		15		3		28,647
Gross charge-offs	97		166		93		50		34		14		23		—		—		477
Student:(2)





Gross charge-offs	—		—		—		—		—		108		—		—		—		108
Credit card:
Current	—		—		—		—		—		—		4,942		19		—		4,961
30 - 89 days past due	—		—		—		—		—		—		84		3		—		87
90 days or more past due	—		—		—		—		—		—		51		2		—		53

Total	—		—		—		—		—		—		5,077		24		—		5,101
Gross charge-offs	—		—		—		—		—		—		220		3		—		223
Total	$	51,157	$	69,070	$	46,645	$	21,777	$	15,217	$	30,986	$	73,675	$	3,821	$	(287)	$	312,061
Gross charge-offs	$	142	$	503	$	349	$	150	$	128	$	279	$	366	$	3	$	—	$	1,920

(1)Includes certain deferred fees and costs and other adjustments.

(2)Truist sold its student loan portfolio at the end of the second quarter of 2023. Charge-offs include $98 million related to the sale.

Summary of Allowance for Credit Losses

The following tables present activity in the ACL:






























































(Dollars in millions)	Balance at Jan 1, 2023		Charge-Offs		Recoveries		Provision (Benefit)		Other(1)		Balance at Mar 31, 2023
Commercial:
Commercial and industrial	$	1,409	$	(75)	$	13	$	151	$	(1)	$	1,497
CRE	224		(6)		1		32		—		251
Commercial construction	46		—		1		40		—		87

Consumer:
Residential mortgage	399		(1)		2		13		(81)		332
Home equity	90		(2)		6		(7)		—		87
Indirect auto	981		(127)		26		100		13		993
Other consumer	770		(105)		17		98		(1)		779
Student(2)	98		(5)		—		5		—		98
Credit card	360		(51)		9		40		(3)		355

ALLL	4,377		(372)		75		472		(73)		4,479
RUFC	272		—		—		10		—		282
ACL	$	4,649	$	(372)	$	75	$	482	$	(73)	$	4,761

(Dollars in millions)	Balance at Jan 1, 2024		Charge-Offs		Recoveries		Provision (Benefit)		Other(1)		Balance at Mar 31, 2024
Commercial:
Commercial and industrial	$	1,404	$	(97)	$	32	$	22	$	(1)	$	1,360
CRE	616		(103)		7		143		—		663
Commercial construction	174		—		—		24		—		198

Consumer:
Residential mortgage	298		(1)		1		(76)		—		222
Home equity	89		(3)		5		(1)		—		90
Indirect auto	942		(154)		28		107		—		923
Other consumer	890		(165)		28		206		—		959

Credit card	385		(77)		9		71		—		388

ALLL	4,798		(600)		110		496		(1)		4,803
RUFC	295		—		—		4		(2)		297
ACL	$	5,093	$	(600)	$	110	$	500	$	(3)	$	5,100

(1)Includes the amounts for the ALLL for PCD acquisitions, the impact of adopting the Troubled Debt Restructurings and Vintage Disclosures accounting standard, and other activity.

(2)Truist sold its student loan portfolio at the end of the second quarter of 2023.

Financing Receivable, Nonperforming

NPAs

The following table provides a summary of nonperforming loans and leases, excluding LHFS:


	March 31, 2024				December 31, 2023
	Recorded Investment				Recorded Investment
(Dollars in millions)	Without an ALLL		With an ALLL		Without an ALLL		With an ALLL
Commercial:
Commercial and industrial	$	100	$	412	$	123	$	347
CRE	20		241		154		130
Commercial construction	23		—		—		24

Consumer:
Residential mortgage	1		150		1		152
Home equity	2		128		1		121
Indirect auto	24		232		20		248
Other consumer	—		61		—		59


Total	$	170	$	1,224	$	299	$	1,081

Selected Information About Nonperforming Assets

The following table presents a summary of nonperforming assets and residential mortgage loans in the process of foreclosure:


(Dollars in millions)	Mar 31, 2024		Dec 31, 2023
Nonperforming loans and leases HFI	$	1,394	$	1,380
Nonperforming LHFS	22		51
Foreclosed real estate	4		3
Other foreclosed property	56		54
Total nonperforming assets	$	1,476	$	1,488

Residential mortgage loans in the process of foreclosure	$	201	$	214

Summary Of Loan Modifications

Loan Modifications

The following tables summarize the amortized cost basis and the weighted average financial effect of loans to borrowers experiencing financial difficulty that were modified during the period, disaggregated by class of financing receivable and type of modification granted.


Three Months Ended March 31, 2024 (Dollars in millions)	Renewals		Term Extensions		Capitalizations		Payment Delays		Combination - Interest Rate Adjustment and Term Extension		Combination - Capitalization and Term Extension		Combination - Capitalization, Interest Rate and Term Extension		Other		Total Modified Loans		Percentage of Total Class of Financing Receivable
Commercial:
Commercial and industrial	$	142	$	—	$	—	$	1	$	—	$	—	$	—	$	15	$	158	0.10	%
CRE	167		—		—		10		—		—		—		13		190		0.86
Commercial construction	45		—		—		—		—		—		—		—		45		0.60
Consumer:
Residential mortgage	—		19		13		16		—		55		9		1		113		0.21
Home equity	—		—		—		—		2		—		—		—		2		0.02
Indirect auto	—		6		—		549		4		—		—		3		562		2.54
Other consumer	—		9		—		—		1		—		—		—		10		0.04
Credit card	—		—		—		—		—		—		—		10		10		0.20
Total	$	354	$	34	$	13	$	576	$	7	$	55	$	9	$	42	$	1,090	0.35	%


Three Months Ended March 31, 2023 (Dollars in millions)	Renewals		Term Extensions		Capitalizations		Payment Delays		Combination - Interest Rate Adjustment and Term Extension		Combination - Capitalization and Term Extension		Combination - Capitalization, Interest Rate and Term Extension		Other		Total Modified Loans		Percentage of Total Class of Financing Receivable
Commercial:
Commercial and industrial	$	390	$	51	$	—	$	—	$	—	$	—	$	—	$	—	$	441	0.26	%
CRE	103		—		—		71		—		—		—		—		174		0.77
Commercial construction	1		—		—		—		—		—		—		—		1		0.02
Consumer:
Residential mortgage	—		29		32		25		1		92		20		4		203		0.36
Home equity	—		—		—		—		2		—		—		1		3		0.03
Indirect auto	—		5		—		5		5		—		—		6		21		0.08
Other consumer	—		5		—		—		1		—		—		1		7		0.03

Credit card	—		—		—		—		—		—		—		5		5		0.10
Total	$	494	$	90	$	32	$	101	$	9	$	92	$	20	$	17	$	855	0.26	%

Financing Receivable, Modified, Financial Effect

Three Months Ended March 31, 2024

Loan Type

Financial Effect

Renewals

Commercial and industrial

Extended the term by 11 months and increased the interest rate by 0.5%

CRE

Extended the term by 6 months and increased the interest rate by 0.5%

Commercial construction

Extended the term by 11 months and increased the interest rate by 0.1%

Term Extensions

Residential mortgage

Extended the term by 105 months.

Indirect auto

Extended the term by 26 months.

Other consumer

Extended the term by 26 months.

Capitalizations

Residential mortgage

Capitalized a portion of forborne loan and other advanced payments into the outstanding loan balance.

Payment Delays

Commercial and industrial

Provided 90 days of payment deferral.

CRE

Provided 90 days of payment deferral.

Residential mortgage

Provided 193 days of payment deferral.

Indirect auto

Provided 186 days of payment deferral.

Combination - Interest Rate Adjustment and Term Extension

Home equity

Extended the term by 275 months and decreased the interest rate by 3%.

Indirect auto

Extended the term by 33 months and decreased the interest rate by 3%.

Other consumer

Extended the term by 61 months and increased the interest rate by 0.025%.

Combination - Capitalization and Term Extension

Residential mortgage

Capitalized a portion of forborne loan and other advanced payments into the outstanding loan balance and extended the term by 85 months.

Combination - Capitalization, Interest Rate and Term Extension

Residential mortgage

Capitalized a portion of forborne loan and other advanced payments into the outstanding loan balance, extended the term by 134 months, and decreased the interest rate by 0.5%.

Three Months Ended March 31, 2023

Loan Type

Financial Effect

Renewals

Commercial and industrial

Extended the term by 4 months and increased the interest rate by 0.4%.

CRE

Extended the term by 9 months and increased the interest rate by 0.1%.

Commercial construction

Extended the term by 5 months.

Term Extensions

Commercial and industrial

Extended the term by 3 months.

Residential mortgage

Extended the term by 158 months.

Indirect auto

Extended the term by 25 months.

Other Consumer

Extended the term by 25 months.

Capitalizations

Residential mortgage

Capitalized a portion of forborne loan and other advanced payments into the outstanding loan balance.

Payment Delays

CRE

Provided 233 days of payment deferral.

Residential mortgage

Provided 195 days of payment deferral.

Indirect auto

Provided 129 days of payment deferral.

Combination - Interest Rate Adjustment and Term Extension

Residential mortgage

Extended the term by 97 months and decreased the interest rate by 0.8%.

Home equity

Extended the term by 318 months and decreased the interest rate by 2.3%.

Indirect auto

Extended the term by 11 months and decreased the interest rate by 7%.

Other consumer

Extended the term by 101 months and decreased the interest rate by 3%.

Combination - Capitalization and Term Extension

Residential mortgage

Capitalized a portion of forborne loan and other advanced payments into the outstanding loan balance and extended the term by 111 months.

Combination - Capitalization, Interest Rate and Term Extension

Residential mortgage

Capitalized a portion of forborne loan and other advanced payments into the outstanding loan balance, extended the term by 82 months, and decreased the interest rate by 0.3%.

The tables above exclude trial modifications totaling $40 million and $64 million for the three months ended March 31, 2024 and 2023, respectively. Such modifications will be included in the modification activity disclosure if the borrower successfully completes the trial period and the loan modification is finalized.

As of March 31, 2024 and December 31, 2023, Truist had $489 million and $702 million, respectively, in unfunded lending commitments to lend additional funds to borrowers experiencing financial difficulty for which Truist has modified the terms of the receivables in the ways described above during the twelve months preceding March 31, 2024 and December 31, 2023, respectively.

Upon Truist’s determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount.

Financing Receivable, Modified, Past Due

Truist closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table summarizes the period-end delinquency status and amortized cost of loans that were modified in the last 12 months. The period-end delinquency status of loans that were modified are disclosed at amortized cost and reflect the impact of any paydowns, payoffs, and/or charge-offs that occurred subsequent to modification.


	Payment Status (Amortized Cost Basis)
March 31, 2024 (Dollars in millions)	Current		30-89 Days Past Due		90 Days or More Past Due		Total
Commercial:
Commercial and industrial	$	844	$	8	$	61	$	913
CRE	352		19		—		371
Commercial construction	70		—		—		70
Consumer:
Residential mortgage	379		96		87		562
Home equity	10		1		—		11
Indirect auto	888		154		23		1,065
Other consumer	28		1		—		29
Credit card	15		4		2		21
Total	$	2,586	$	283	$	173	$	3,042
Total nonaccrual loans included above	$	339	$	46	$	107	$	492

	Payment Status (Amortized Cost Basis)
December 31, 2023 (Dollars in millions)	Current		30-89 Days Past Due		90 Days or More Past Due		Total
Commercial:
Commercial and industrial	$	887	$	48	$	92	$	1,027
CRE	233		11		1		245
Commercial construction	22		—		—		22
Consumer:
Residential mortgage	427		116		90		633
Home equity	11		—		—		11
Indirect auto	730		148		20		898
Other consumer	24		1		—		25
Credit card	11		3		2		16
Total	$	2,345	$	327	$	205	$	2,877
Total nonaccrual loans included above	$	155	$	85	$	137	$	377

Financing Receivable, Modified, Subsequent Default

The following table provides the amortized cost basis of financing receivables that were modified and were in payment default in the last twelve months:


March 31, 2024 (Dollars in millions)	Renewals		Term Extensions		Capitalizations		Payment Delays		Combination - Capitalization and Term Extension		Combination - Capitalization, Interest Rate and Term Extension		Other		Total
Commercial:
Commercial and industrial	$	45	$	—	$	—	$	1	$	—	$	—	$	15	$	61


Consumer:
Residential mortgage	—		16		3		34		30		3		1		87

Indirect auto	—		1		—		20		—		—		2		23

Credit card	—		—		—		—		—		—		2		2
Total	$	45	$	17	$	3	$	55	$	30	$	3	$	20	$	173


December 31, 2023 (Dollars in millions)	Renewals		Term Extensions		Capitalizations		Payment Delays		Combination - Capitalization and Term Extension		Combination - Capitalization, Interest Rate and Term Extension		Other		Total
Commercial:
Commercial and industrial	$	72	$	—	$	—	$	20	$	—	$	—	$	—	$	92
CRE	1		—		—		—		—		—		—		1

Consumer:
Residential mortgage	—		13		6		34		31		5		1		90

Indirect auto	—		1		—		17		—		—		2		20

Credit card	—		—		—		—		—		—		2		2
Total	$	73	$	14	$	6	$	71	$	31	$	5	$	5	$	205

Selected Information About Loans And Leases Unearned

Unearned Income, Discounts, and Net Deferred Loan Fees and Costs

The following table presents additional information about loans and leases:


(Dollars in millions)	Mar 31, 2024		Dec 31, 2023
Unearned income, discounts, and net deferred loan fees and costs	$	571	$	553