Truist Financial Corporation (TFC)

Truist Financial Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	19,567	19,518	13,252	11,481	13,485	7,982
Interest Income on Investments	5,590	4,938	3,385	2,293	2,063	1,427
Total Interest Income	25,157	24,456	16,637	13,774	15,548	9,409
Interest Paid on Deposits	7,839	6,355	1,145	148	785	1,101
Interest Paid on Borrowings	3,222	3,501	1,176	620	937	995
Total Interest Expense	11,061	9,856	2,321	768	1,722	2,096
Net Interest Income	14,096	14,600	14,316	13,006	13,826	7,313
Net Interest Income Growth (YoY)	-5.94%	1.98%	10.07%	-5.93%	89.06%	9.44%
Trust Income	1,413	1,358	1,338	1,392	1,277	715
Mortgage Banking Activities	409	437	460	734	1,185	285
Gain (Loss) on Sale of Investments	-6,650	-	3	-	402	-69
Other Non-Interest Income	6,297	6,126	5,892	6,104	4,995	3,460
Total Non-Interest Income	2,372	8,790	8,719	9,290	8,879	5,255
Non-Interest Income Growth (YoY)	-62.72%	0.81%	-6.15%	4.63%	68.96%	7.77%
Revenues Before Loan Losses	16,468	23,390	23,035	22,296	22,705	12,568
Provision for Loan Losses	1,971	2,109	777	-813	2,335	615
Revenue	14,497	21,281	22,258	23,109	20,370	11,953
Revenue Growth (YoY)	-25.06%	-4.39%	-3.68%	13.45%	70.42%	8.74%
Salaries and Employee Benefits	8,211	8,334	8,149	8,312	7,793	4,668
Occupancy Expenses	514	566	600	635	802	434
Federal Deposit Insurance	815	824	183	137	125	81
Amortization of Goodwill & Intangibles	491	527	583	574	685	164
Selling, General & Administrative	3,649	3,620	3,819	3,833	3,584	1,562
Other Non-Interest Expense	1,170	1,142	781	803	1,048	665
Total Non-Interest Expense	14,850	15,013	14,115	14,294	14,037	7,574
EBT Excluding Unusual Items	-353	6,268	8,143	8,815	6,333	4,379
Other Unusual Items	-72	-	39	-	-	-
Pretax Income	-6,822	-185	7,669	7,993	5,473	4,019
Income Tax Expense	-753	862	1,402	1,556	981	782
Earnings From Continuing Operations	-6,069	-1,047	6,267	6,437	4,492	3,237
Minority Interest in Earnings	-44	-44	-7	3	-10	-13
Net Income	-1,548	-1,091	6,260	6,440	4,482	3,224
Preferred Dividends & Other Adjustments	366	361	333	407	298	196
Net Income to Common	-1,914	-1,452	5,927	6,033	4,184	3,028
Net Income Growth	-	-	-2.80%	43.69%	39.02%	-0.40%
Basic Shares Outstanding	1,335	1,332	1,328	1,337	1,347	805
Diluted Shares Outstanding	1,335	1,332	1,338	1,349	1,358	815
Shares Change (YoY)	-0.24%	-0.49%	-0.81%	-0.66%	66.62%	4.05%
EPS (Basic)	-1.43	-1.09	4.46	4.51	3.11	3.76
EPS (Diluted)	-1.43	-1.09	4.43	4.47	3.08	3.71
EPS Growth	-	-	-0.89%	45.13%	-16.98%	-5.12%
Dividend Per Share	2.080	2.080	2.000	1.860	1.800	1.710
Dividend Growth	0%	4.00%	7.53%	3.33%	5.26%	12.87%
Effective Tax Rate	-	-	18.28%	19.47%	17.92%	19.46%

Source: S&P Capital IQ. Banks template. Financial Sources.