Good morning, everyone. I'm Brian Davis, Chief Communications Officer for Truist, and I'd like to welcome you to Truist Financial Corporation's 2021 Annual Meeting of Shareholders. Thank you to our shareholders joining us again this year using the virtual meeting platform. Help you follow along with the meeting. We've made the following documents available on the virtual meeting website.
There, you can find the 2021 Annual Meeting Proxy Statement 2020 Annual Report, 2020 Annual Report on Form 10 ks, the Annual Meeting agenda, the rules of conduct for the Annual Meeting and a list of shareholders. Joining me here today is Truist Chairman and CEO, Kelly King our President and Chief Operating Officer, Bill Rogers and Chief Legal Officer, Head of Enterprise Diversity and Corporate Secretary, Alan Fitzsimmons. At this time, I'd like to turn it over to Kelly to call the meeting to order.
Thank you, Brian, and good morning, everybody. I'm pleased to Welcome you to the 2021 Annual Meeting of our Shareholders. I'll begin by now calling this meeting to order. I Julie Ferguson, Jonathan Mansett and Michael Stork, who represent PricewaterhouseCoopers, the independent public accounting firm for Truist. I want to thank you all for attending today virtually.
We debated it, but we thought to protect the health and well-being of all of the attendees, we would be virtual again this year. Hopefully next year we'll be all back together in person. But thank you for attending virtually. I really do appreciate your support and I hope you and your families are safe and well. We'll now turn to the business of the meeting.
After the business of the meeting, I'll make some comments and we'll have some time for questions and answers. Please note that Ellen Fitzsimmons has been appointed as Secretary and Georgeson LLC has been appointed as Inspector of Election for this annual meeting. Representing Jorgensen are Bill Fisk and James Gill, attending also virtually. I will now ask Bill Representative Jorgensen to report the number of shares represented at the meeting to indicate whether a quorum is present and whether notice of the meeting was properly furnished holders of the common stock as of record date of February 18, 2021.
Mr. Chairman, I can report that of the 1,344,000,004,004,000 and 42 shares outstanding that are present at this meeting represented by proxy 1,188,000,000,854,403 shares 48.42 percent of the total outstanding shares. Mr. Chairman, Georgeson has in its possession an affidavit from Broadridge Financial Services. This affidavit indicates that the proxy statement or notice of Internet availability of proxy materials were mailed on March 15, 2021 to record holders of common stock as of February 18, 2021.
Thank you, Mr. Fisk. Notice of this annual meeting was properly furnished on March 15, 2021 to each shareholder of record of our common stock as of February 18, 2021. Therefore, proper notice of this meeting has been provided. I declare now that this meeting is properly convened and the polls are open.
Shareholders who intend to vote, shareholders at this meeting may vote at this time using the voting buttons available online. I will now ask Ms. Fitzsimmons to announce the 3 proposals that were submitted for shareholder consideration at today's meeting.
Thank you, Mr. Chairman. The 3 proposals are as follows. 1, to elect 22 director nominees as identified in the proxy statement for a 1 year term expiring at the 2022 Annual Meeting of Truist Shareholders 2, to ratify the appointment of PricewaterhouseCoopers LLP as Truist independent registered public accounting firm for 2021. 3, to vote on an advisory resolution to approve Truist overall executive compensation program.
Thank you, Ms. Fitzsimmons. The polls are now closed and it's time to proceed with the results of voting at today's meeting. I will call on Bill Fisk of Jorgersen to announce the votes on each proposal.
Mr. Chairman, regarding proposal won the election of 22 directors. Each director received more than 91.9% of the votes cast.
All direct nominees have been elected by the shareholders.
Mr. Chairman, regarding proposal 2, the ratification of PricewaterhouseCoopers as the company's independent public accounting firm for 2021. More than 98.7% of the votes cash were voted favorably.
The proposal is approved.
And Mr. Chairman, regarding Proposal 3, an advisory resolution to approve Truist's overall executive compensation program. More than 94.9% of the votes cast were voted favorably.
The proposal is approved. So now we will give you our report In terms of kind of what's going on at Truist, let me start by saying and you've heard us say this before that culture is ultimately the most important determinant of our long term success. So we want to talk to you some about our culture as we start out our presentation. Our culture is about our purpose, our mission and our values. Our purpose is to inspire and build better lives and communities.
Purpose in action is really if you think about it by our teammates serving our clients and our other stakeholders. Our teammates are living in an environment that we work hard to provide that is inclusive and energizing, is empowering And it creates an environment where they can learn and grow and have long term meaningful careers. We provide distinctive, secure and successful client experiences Through your combination of touch and technology. And we work hard for our communities as you'll hear us talk about And we of course work very hard for long term optimum shareholder value for our shareholders. We do all of this mission in the context of our values.
We live by our values every day. They guide our actions and our values are trustworthy, caring, one team, success and happiness. If you think about in life, it's very, very important to be trustworthy because otherwise you can't have good and appropriate meaningful partnerships. So we serve with integrity. We believe strongly in caring, caring about each other, caring about our clients and our communities.
We believe in operating as one team working together. We don't want to have win lose. We want to have everyone win. And we believe in helping everybody be as successful as they can. Most importantly though, we believe in creating an environment so people can achieve A substantial amount of their happiness in life through Truist and the activities we take throughout our communities.
If you think about our purpose, our mission and our values are non negotiable. Everything else in the company is strategic They change from time to time based on circumstances. And because purpose is so important to Truist now and in the future, I want to ask Bill Rogers, our President and COO and future CEO of our company to give you some comments about our purpose in action. Bill?
Thank you, Kelly. And as Kelly just shared, our purpose is the force at the center of everything we do. This is the foundation upon which Truist is built. It motivates us and it guides all of our decisions. Our purpose to inspire and build better lives and communities.
It's actionable, it's measurable And more importantly, it's meaningful. You see here on the slide some of the more recent manifestations of our purpose in action. I'd like to briefly walk you through how Purpose guided our actions throughout what we all knew was a really challenging year in 2020. We realized early that the Paycheck Protection Program was a way to put purpose in action for small businesses in our communities. We were one of the very first banks to set up a digital portal to accept these applications.
With our agile purposeful approach, we created an online automated process in just mere days. And we're proud of being one of the most active PPP lenders in the country and the leaders in our markets. We helped approximately 80,000 companies secure almost $13,000,000,000 in funding, which supported close to 2,900,000 jobs across our markets last year. And when our commercial clients needed us to help fund liquidity and working capital needs, we were there for them. Additionally, we implemented financial relief programs for our small business suppliers and tenants and provided payment relief assistance, forbearance, deferrals and extensions and other modification strategies for our clients in need.
Our teammates Executed purposefully for our clients and we demonstrated our value of caring for them in return. So as evidence, We provided relief bonuses to teammates making less than $100,000 per year. We offered special on-site pay rates for essential teammates and added support through paid time off and family care benefits. We created a 4 to 1 match for all teammates who contributed to our 1 team fund. That's an extra level of care for those facing the biggest hardships.
And in total, we provided more than $100,000,000 in overall special support. From a diversity, equity inclusion standpoint, we made a commitment to increase diversity and leadership and conducting ongoing pay equity reviews. We signed PwC's 2020 CEO Action for Diversity and Inclusion pledge To advance diversity and inclusion in the workplace, and we joined the Business Coalition for the Equality Act to ensure equal rights for all and received 100% on the Human Rights Campaign's 2020 Corporate Equality Index. For our communities, we made a $50,000,000 philanthropic commitment through our Truist Cares initiative, $25,000,000 to address immediate and long term needs of communities, clients and teammates and another 25,000,000 targeting underserved communities, providing resources for small businesses and essential technology services in areas with limited access. With a $40,000,000 donation, we helped establish Corner Square Community Capital.
This was a nonprofit That provides funding to racially and ethnically diverse small business owners, women and individuals and communities most in need across the markets that Truist serves. We formalized our Historically Black College and University and Diversity Recruiting Strategy to recruit top diverse talent and provide leadership training, internships and financial support for students. From our 8 business resource groups to increase cultural awareness and foster inclusivity to our 100 of days of understanding sessions where we encourage bold and courageous conversations about the topics of the day like race and social injustice To our unconscious bias training, I'm incredibly proud and humbled of how our teammates lived out the purpose in 2020. We're maintaining that momentum in this year, too. In 2021, Fortune recognized Truist as one of the world's most admired companies.
We issued our 1st social bond, the 1st regional bank to do so. We became lead investor for Greenwood, A very innovative digital banking platform designed for Black and Latinx consumers and business owners. And we received an outstanding CRA rating by the FDIC, the highest possible rating. As you can see on the next slide, others are taking notice. We've received several industry leading recognitions from J.
D. Power and Javelin for Our online lending and digital client experiences from Forbes and the United States Black Chambers for Workplace Culture and DEI and from the Greater Women's Business Council, the National LGBT Chamber of Commerce and the U. S. Pan Asian American Chambers of comments for our supplier diversity efforts among others. These awards and recognition are testament to our purpose and they're reflective of our mission to serve clients, teammates and stakeholders.
So to our shareholders, you're owners of a company driven by purpose. We are led by diverse, engaged, purposeful teammates committed to inspiring and building better lives and communities. This translates into more clients with meaningful relationships and growing healthy communities, all which support higher and more sustainable shareholder returns. We appreciate your support. So Kelly, thank you for your unwavering and purposeful leadership.
And let me turn it back to you.
Thank you, Bill. It's been an honor and a pleasure to work with Bill as we've been on this Truist journey. He's a great partner. He's a great friend. He's doing a great job for our company now and he will in the future.
Thank you for that support and that focus. I really appreciate that. So let's talk a little bit more about Truist, an exceptional company. Just as a reminder, we are the 6th largest U. S.
Commercial bank in the country. We have the number 2 weighted average deposit rank in the top 20 MSAs. We have 15,000,000 clients. We have 53,000 teammates. So we are a relatively large company that can make a positive impact in the world.
We believe the 3 most important reasons that any company and certainly our company is successful is our culture, our teammates and our markets. And as you can see on this slide, our markets are fantastic. We are blessed to be able to operate in some of the most vibrant markets in the world. Our regional community bank, commercial and retail operates primarily in the Mid Atlantic and Southeast markets swinging over Texas and you can see we have very clear dominance in most of those markets. We also find the future looks really, really good for us.
We're operating in 7 of the top 10 markets projected to grow fastest in population over the next 5 years. And we have great businesses at the regional level and at the national level. So we're very, very strong at the regional level in retail banking, commercial banking, wealth, Small Business, Premier Banking, Treasury Solutions and others. But we're also a national institution. We have a very strong national group of specialized businesses And Corporate and Investment Banking, Insurance, Dealer Finance, National Consumer Finance, Mortgage, CRE.
So we are a national institution And have a strong focus in the Mid Atlantic and Southeast, a really good place to be. We are very diversified, which is a really important aspect of a financial company in today's world. We're fortunate that about 34% of our non interest bearing deposits are a big portion of our funding sources. We're very diversified in our asset groups. We're about half retail and commercial with good concentrations in all of the various segments.
Most importantly, I think we have great teammates led by our outstanding executive leadership team. Very unlike many companies, our group of executive leaders have an average tenure with our legacy companies Of 24 years. So with deep in experience, with deep in talent and they're doing a great job in leading our company. To show you how well we're doing, in 2020. Truist was ranked 1st amongst peers in adjusted ROA, return on tangible common equity, efficiency ratio and net interest margin.
So very, very strong performance in our 1st year. Our first quarter highlights, if you had a chance to look at that when we reported a couple of weeks ago, also very strong, very strong earnings, adjusted net income of $1,600,000,000 or $1.18 a share, record investment banking and trading income. Our adjusted return on tangible common equity, I indicated was 1st in 2020, it was 19.36 in the Q1 of 2021. Expenses declined, our non performance declined and our common equity Tier 1 ratio increased. So that's a good combination.
And you can see on this graph compared to our peers, we again continue to do very, very well. I I want you to know that the merger is going very, very well. The integration is really on track. It's a complicated merger and conversion, but it's on track. You can see on this slide something that's very, very important.
We're really building the best in class bank. We're taking the best systems from Heritage SunTrust, best systems from Heritage BB and T. And so basically, when this all is finished, we'll have basically the best in class in all front room client facing systems And our backroom systems as well. So really, really good place to be in terms of providing outstanding client service quality to our clients. And so if you look at this slide, I just want you to know that we are making progress.
Some people think that The merger is not going to be finished until the spring of 'twenty two when we actually do most of the branch conversions. It's really not true. We're making really good progress. We've already had a Truist Securities conversion, our wealth brokerage conversion. We'll be already Testing their protocols for our core bank conversion.
And in just a few days, we will do our wealth trust conversion. So a lot of conversions have already occurred, will occur as we go through the rest of the spring and the summer and into the fall. And why that's important is because that reduces the risk For our institution. That should make you feel good as a shareholder because we're moving steadily, and I think smartly towards The final combination of all of the systems for Truist. So when we think about our differentiating advantage at Truist, which is ultimately how you think about providing quality service and a good value proposition.
As I said, culture has been and will continue to be most important differentiating factor. But there are some overarching strategic differentiations in the world we live in today. One of those we call T3. So about 10 years or so ago, the world really changed. There was a paradigm shift because consumers Almost immediately, started demanding real time satisfaction.
They want what they want, when they want it right here, right now in the palm of their hand. Historically, you found really a distinction between technology and trust. Technology was more of a backroom concept. Trust was more of a frontroom concept. That has all changed now.
Consumers demand technology, but they demand touch To make sure that they have seamless execution of services because sometimes, as we all know, technology doesn't work perfectly. Most of the time it does, but sometimes not always. And so we have this concept that we call T3 where T stands for technology, touch, which yields a high level of trust. This is really the key to providing outstanding long term value to your clients in the world today. And we're very fortunate.
We've been working on this for a long time And threaded throughout our culture is the nature, the essence of T3. We think this will be a differentiating factor for us for a long time to come. We have another strategic focus that we call or integrated relationship management. This is a powerful concept of Trying to be sure we're focusing on meeting all of the needs of the clients all of the time. Many organizations end up kind Like silos and so they meet part of the needs real well, but not all of the needs.
What we're focusing on is to be sure that we provide good services for Our clients all of the time throughout the entire organization because we feel a responsibility to help them achieve all of their dreams and goals and hopes in life, not just part of them. And so we're having great results in this area. For example, we said when we announced the merger that we had great opportunities to synergistically Pull together the insurance business that Heritage BB and T had, corporate and institutional group that Heritage SunTrust had A real advantage in and both had really good wealth operations. And so we're already seeing great benefits and results in terms of these crossover opportunities to help meet the needs of the clients. So the combination of T3 And or Integrated Relationship Management are real advantages to Truist as we go forward in a highly competitive environment.
So if you think about our value proposition, it's really one that is based on an exceptional company with diverse products, services and great markets as I described. We are uniquely positioned to be able to provide outstanding performance. You heard some of the numbers that I covered earlier. We believe that that will hold true in the future. We have a great opportunity in terms of reducing costs as we head through the merger conversion in the next 12 months or so.
So that will continue to help us have really good strong profitability. And we have strong capital and liquidity, All of which combined allows us to have very good long term, less volatile growing total shareholder returns. We believe we will be a top performer. Now we accomplished all of that through leadership. At Truist, we know that every facet of Society can be made better through more effective leadership.
We have the Truist leadership model, which you can see here on this slide, Which is very simple, but very powerful. The concept is that if you're going to change results in life, you have to change behaviors. Most people kind of get that naturally. But the real key to the model is if you're going to change behaviors on a sustained basis, you have to change beliefs. People behave in a manner that's consistent with their beliefs.
And so we teach this leadership model throughout the entire Truist organization. And so what we know is when we all have shared beliefs, Particularly when it relates to our purpose, our mission and our values, shared beliefs with regard to our key strategies like T3 and Those shared beliefs drive consistent behaviors and get great results throughout the organization. So We found that in leadership, effective leaders have three characteristics. They're very honest about where they are, they're very clear about where they want to go And to have the courage to go there. We have all of that here at Truist.
Here you see a picture of the Truist Leadership Institute. We're very proud of this because as I said, leadership is very, very important. Through the Leadership Institute, we provide great leadership training for our teammates, because through our teammates, we then have our clients and our communities. But we also do a lot in terms of our clients. Our clients come to the Leadership Institute to take courses of all types because we believe that if we can help our clients' leaders become better leaders, then the clients will be more successful.
They'll be able to go out and do more in the community and the world gets better. And we also use the Leadership Institute to help our communities. We have a number of activities that we focused on there over the years. For example, Financial Foundations is a program through the Leadership Institute. This is a program that we've had in effect for a little over 10 years, Where we're teaching financial well-being in high schools.
And so far we've already taught that course, which is very effective, Over 1,200,000 high school students. And when you come out of high school and you know a little bit about financial well-being. It gives you such a good head start. We're very excited about some work that we're doing now What I consider to be the greatest challenge we have in our country today in terms of giving our kids a real bright and optimistic future. We have a real challenge in our community today, in our world today and certainly in our country because in the United States today in the public school system, 2 thirds of the kids in the 3rd grade cannot read proficiently.
This does not give them a bright future Because educators will tell you the obvious and that is that up through about the 3rd grade you're learning how to read and after that you're reading to learn. So If you go past the 3rd, 4th grade and you can't read, you really don't have a very good future because many of the old jobs Like when I grew up, that you could do were manual jobs and weren't automated and you didn't have to have the greatest skills in terms of math and reading. Most of that has dramatically changed. And so we're deeply concerned about and working on trying to help solve that problem. One of the things we're doing is we bring principals from schools for free to our Leadership Institute for an executive style leadership program.
And we also now have developed with conjunction with our company, which is our partner called EverFi, and we've developed a game, A game that kids can play that actually teaches them how to read. We think it's going to be very successful. It's in beta test today. We're in about 584 schools and we have 14,000 students that have played the game today. Now I can't guarantee it's going to work, Based on the science of reading and everything that we've studied and all of the anecdotal feedback we have so far, we believe this is going to work.
So let's just hope and pray that it will because there's a lot of work to be done out there. This is not trying by the way to replace the school system or our great teachers. We need a great school system. We need great teachers. This is just one tool that Truist is putting out to help our kids learn how to read Because it's so important for their future.
You heard me talk about with regard to our values that we focus on being trustworthy and caring, operating together as one team and being successful. But most importantly, what we want for our teammates and for all the ones that we can touch is a sense of happiness. And one of the things that I've found going through this pandemic that I just want to share with you because I found that it's a real challenge, I think, for all of us today. And that is people are really struggling today. It's been more than a year in this pandemic It's just been really hard as I'm sure all of you know and it's very consistent and persistent in its impact on all of us.
I've heard so many teammates in the last 6 or 8 months say, I can't wait till this is over so I can be happy again. So I spent a lot of time thinking about that and I will just share with you that I don't believe it's really wise to wait to be happy. Just like you can't change yesterday, you don't have tomorrow promised, nor do I. What we have is today. So the question is, even in the midst of the pandemic, even in the midst of all of the other challenges that we have, can we still be happy?
And the answer is, yes, we can. And there are actually 4 steps to being happy in a difficult environment. And the first is to simply choose to be happy. That may sound simple to you, but it's actually the most important step. Because until you decide that it is your right, that you can control your life, If you're not a victim, then you can't move towards happiness.
I tell our teammates all the time, I said, think about it this way, Think about that. You're the 100 percent owner, you're the Chairman, you're the CEO of this company called you. And you get to decide every day how you're going to approach life. And if you choose to be happy, choose not to be a victim, then you can move quickly towards being happy. The second step is to be clear about your purpose.
There's a great book, one of my 5 great books called Man's Search for Meaning written by Viktor Frankl. Mr. Frankel survived the Holocaust, spent 3 years in Auschwitz, a terrible experience. And in that book, he said something is very important And that is if you know your why, you can endure any how. Said another way, if you're clear about your purpose in life, you can figure out how to overcome obstacles.
And we think that's really, really important. That's why purpose is so important at Truist. We get up every morning thinking about how to inspire and build better lives in communities. That gives us energy, it gives us drive, it gives us direction, it gives us a way to overcome the obstacles because we know what we're trying to do is so important. And I appreciate you as shareholders joining us in that journey of trying to make the world better.
And so being clear about that purpose is a really important part of being happy. And then choosing to have a growth mindset. There's another great book, one of my top 5 called Mindset written by Doctor. Carol Dweck, DWECK. I really recommend it.
It's a book that talks about in life we choose either have a fixed mindset or a growth mindset. Sadly, people that choose to have a fixed mindset in life are the people that believe that they can't change, they can't grow, they can't improve. And so they do quickly become victims. So some bad thing happens and they believe they can't change. On the other hand, people who have a growth mindset believe that they can change, they can learn, they can grow.
The obstacles still come to them as well. But rather than give up, rather than being the victim, they choose to be able to grow through the process and overcome the obstacles. It's a powerful differentiator. And then the final step to being happy, especially in difficult times, is to help Others. They've done a lot of studies that actually proves that one of the most important ways to make yourself happier Is to go out and help others.
That's why we do so much in the community at Truist. We want to help others be happy and to be honest that brings us a sense happiness at the same time. And so we hope for all of you and all of the clients and all the communities that we serve that they will be Happy as they can be and we want to do our part. And by happiness, I just want to say, I don't mean necessarily just laughing and having fun, although that's great. I mean a sense of enrichment, a sense of fulfillment, a sense of achievement, a sense of my life matters.
And finally, I will share with you something that I share with our teammates. This is a great opportunity. When you get up every morning, you can assume that people all around you are struggling, Especially now. They're hurting, they need help and they need to know that their life matters, they need to know that they are important. So I challenge our teammates to get up in the morning and as you're getting ready, even before you approach your loved ones, imagine someone hand you a handful of imaginary seeds.
These are seeds of hope. And if you go out and help people, a little smile, a little pat on the back, a little, hey, how are you? And wait for the answer. As you do that, in your mind, take one of those little seeds and toss it down on the ground, you just planted a seed of hope. And if you will do that throughout your life the best you can, you won't get it perfect, nobody does.
But you'll be able to look back on your life and say, you know what, I did my best to make a positive meaningful difference in the lives of as many people as I could. And that, ladies and gentlemen, will allow you to have the pride, The sense of enrichment to know you did your best to make the world better. So thank you for letting us present some information to you today about Truist. And we'll now turn to answering any questions that we have. And I will mention that We developed new technology this year because of the virtual platform environment and we actually I've been able to, I hope you know, to allow you a way to send in your questions in advance.
We have read those questions. We've threaded the themes of those questions and now we're going to try to answer the questions that you considered to be most important. So I'll turn it back over to Brian.
Thank you, Aaron King. As a reminder, if there's anything specific you still truist.com. Please note in the interest of time, we'll limit this portion of the meeting to approximately 10 minutes. Chairman King, our first question, can you please explain your thinking about the size of your Board of Directors?
Yes. This question has been raised about the size of our Board, but our Board reflects really the spirit Of the Truist MOE. There are 11 members from Heritage SunTrust, 11 members from Heritage BB and T. I want you to know that our Board evaluates every year the size and makeup of our Board. We believe that the current Board is Appropriate given the complexity of our industry, the challenges of the MOE, technological changes that are moving with blinding speed.
And frankly, one of the advantages of a Board our size is that it allows us to have a very effective technology committee, which is already adding great value to the operations of our company. I would also say to you that I'm very proud of our Board. 45% of our Board is racially, Ethnically, sorry, and gender diverse. It makes me very proud of hopes, it makes you very proud. And to be honest, it makes us much more effective as a company.
Thanks, Kelly. Our second question. Due to the overwhelming financial burden that the average Truist client is experiencing on account of the pandemic, is the management compensation package high? Is this the right decision based on the current station of Truist clients?
So we have a Compensation and Human Capital Committee. And as you might expect, they study and decide on our compensation. They do use outside expert consultants in making their decisions. They believe that our total compensation program is appropriate. I will tell you that it is performance based with an emphasis on performance relative to our peers.
It does include a qualitative assessment portion for the committee to make subjective evaluations. The plan is short term and long term And substantial portion of the payments are in equity, which aligns our compensation with the shareholder interest. I would tell you that 2020 was a very hard year. And even so, Truist, as I said earlier, was number 1 in adjusted return on assets, return on tangible common equity, efficiency and net interest margin. So we had a very good year.
Our third question is, what investments will be made in the areas of diversity, equity and inclusion per your annual report.
Well, I will tell you that DEI is at the very heart of the essence of Truist. We get up every day trying to be sure that we're doing the best we can with regard to diversity, inclusion and Equity and Inclusion. So our purpose is to inspire and build better lives and communities. You simply cannot achieve that If you don't have diverse teammates, if you don't have an equitable environment and if you don't have 100% inclusivity, It's morally right and it's sound business judgment. I'm proud that Truist has partnered with more than 400 community and national organizations in the last year or so.
In 2020, we gave over $78,000,000 to advance DEI initiatives in our communities, including social justice grants and Historically Black Colleges and Universities and many, many others. And we're ahead of schedule in terms of investments with regard to our $60,000,000,000 community benefits agreement. We look forward to continuing to making efforts in all of our communities, especially in our Minority, women owned, in areas that are less fortunate. We want to do all we can to improve social and
economic mobility.
That completes.
We concluded the question and answer portion of this meeting. If shareholders who have additional questions, again, please send them to our Investor Relations team. That e mail address once again is investorstruist.com. At this time, I'll turn it back over to Kelly.
Thank you, Brian. I want to thank our shareholders again. We really do appreciate your support. We look forward to working hard to provide good long term shareholder value for you. We look forward to continuing to make you proud in terms of our support of our clients, our communities and trying to make the world better.
Thank you for attending today. Thank you for your support. May God continue to bless you and your families and these great United States of America. Have a great day.