v3.25.1
Loans and ACL
 3 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
Loans and ACL Loans and ACL
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, 2025
(Dollars in millions)		Current30-89 Days Past Due
90 Days Or More Past Due(1)
NonperformingTotal
Commercial:     
Commercial and industrial$155,970 $118 $5 $586 $156,679 
CRE19,272 12 — 294 19,578 
Commercial construction8,764 — — 2 8,766 
Consumer:
Residential mortgage54,759 631 530 179 56,099 
Home equity9,346 57 6 114 9,523 
Indirect auto22,896 484 — 248 23,628 
Other consumer29,203 246 23 65 29,537 
Credit card4,705 71 52 — 4,828 
Total$304,915 $1,619 $616 $1,488 $308,638 
(1)Includes government guaranteed loans of $468 million in the residential mortgage portfolio.
Accruing
December 31, 2024
(Dollars in millions)		Current30-89 Days Past Due
90 Days Or More Past Due(1)
NonperformingTotal
Commercial:     
Commercial and industrial$154,140 $168 $19 $521 $154,848 
CRE20,004 60 1 298 20,363 
Commercial construction8,514 3 — 3 8,520 
Consumer:    
Residential mortgage54,233 719 481 166 55,599 
Home equity9,457 60 9 116 9,642 
Indirect auto22,208 622 — 259 23,089 
Other consumer29,070 236 23 66 29,395 
Credit card4,792 81 54 — 4,927 
Total$302,418 $1,949 $587 $1,429 $306,383 
(1)Includes government guaranteed loans of $430 million in the residential mortgage portfolio.
The following tables present the amortized cost basis of loans by origination year and credit quality indicator:

March 31, 2025
(Dollars in millions)		Amortized Cost Basis by Origination YearRevolving Credit Loans Converted to Term
Other(1)
20252024202320222021Prior Total
Commercial:    
Commercial and industrial:
Pass$9,579 $20,915 $13,067 $19,390 $10,569 $18,325 $58,394 $— $(194)$150,045 
Special mention228 289 373 171 425 153 868 — — 2,507 
Substandard28 451 537 516 188 662 1,159 — — 3,541 
Nonperforming— 75 91 26 38 54 302 — — 586 
Total9,835 21,730 14,068 20,103 11,220 19,194 60,723 — (194)156,679 
Gross charge-offs3 5 24 4 2 12 52 — — 102 
CRE:
Pass795 1,477 2,324 3,766 1,932 4,824 1,159 — (60)16,217 
Special mention— 252 146 291 179 157 186 — — 1,211 
Substandard41 244 208 492 364 507 — — — 1,856 
Nonperforming— 26 79 39 9 141 — — — 294 
Total836 1,999 2,757 4,588 2,484 5,629 1,345 — (60)19,578 
Gross charge-offs— 17 12 1 — 40 — — — 70 
Commercial construction:
Pass208 604 1,634 1,425 335 96 1,746 — — 6,048 
Special mention37 112 58 661 282 — 83 — — 1,233 
Substandard— 180 172 983 79 — 69 — — 1,483 
Nonperforming— 2 — — — — — — — 2 
Total245 898 1,864 3,069 696 96 1,898 — — 8,766 
Consumer:
Residential mortgage:
Current976 4,547 2,719 12,557 15,265 18,695 — — — 54,759 
30 - 89 days past due8 23 33 52 76 439 — — — 631 
90 days or more past due— 15 71 56 37 351 — — — 530 
Nonperforming— — 4 30 24 121 — — — 179 
Total984 4,585 2,827 12,695 15,402 19,606 — — — 56,099 
Gross charge-offs— — — — — 1 — — — 1 
Home equity:
Current— — — — — — 6,117 3,229 — 9,346 
30 - 89 days past due— — — — — — 41 16 — 57 
90 days or more past due— — — — — — 4 2 — 6 
Nonperforming— — — — — — 39 75 — 114 
Total— — — — — — 6,201 3,322 — 9,523 
Gross charge-offs— — — — — — 2 — — 2 
Indirect auto:
Current3,104 8,175 2,821 4,688 2,435 1,680 — — (7)22,896 
30 - 89 days past due3 80 84 133 82 102 — — — 484 
Nonperforming— 29 47 72 47 53 — — — 248 
Total3,107 8,284 2,952 4,893 2,564 1,835 — — (7)23,628 
Gross charge-offs— 21 34 47 22 30 — — — 154 
Other consumer:
Current3,128 8,729 5,585 4,678 2,064 2,417 2,580 19 3 29,203 
30 - 89 days past due5 46 69 51 29 38 6 2 — 246 
90 days or more past due— 6 9 5 — 1 2 — — 23 
Nonperforming— 8 14 14 12 17 — — — 65 
Total3,133 8,789 5,677 4,748 2,105 2,473 2,588 21 3 29,537 
Gross charge-offs7 35 48 34 12 12 6 — — 154 
Credit card:
Current— — — — — — 4,695 10 — 4,705 
30 - 89 days past due— — — — — — 70 1 — 71 
90 days or more past due— — — — — — 51 1 — 52 
Total— — — — — — 4,816 12 — 4,828 
Gross charge-offs— — — — — — 73 1 — 74 
Total$18,140 $46,285 $30,145 $50,096 $34,471 $48,833 $77,571 $3,355 $(258)$308,638 
Gross charge-offs$10 $78 $118 $86 $36 $95 $133 $1 $— $557 
December 31, 2024
(Dollars in millions)		Amortized Cost Basis by Origination YearRevolving CreditLoans Converted to Term
Other(1)
20242023202220212020PriorTotal
Commercial:
Commercial and industrial:
Pass$22,675 $14,595 $20,976 $11,449 $6,607 $13,087 $58,790 $— $(199)$147,980 
Special mention460 302 377 407 80 254 830 — — 2,710 
Substandard481 608 618 234 180 484 1,032 — — 3,637 
Nonperforming28 98 64 31 11 60 229 — — 521 
Total23,644 15,603 22,035 12,121 6,878 13,885 60,881 — (199)154,848 
Gross charge-offs33 126 66 14 6 42 108 — — 395 
CRE:
Pass1,704 2,696 3,788 1,955 1,557 3,649 1,794 — (64)17,079 
Special mention262 65 331 197 52 29 91 — — 1,027 
Substandard252 207 374 356 157 499 114 — — 1,959 
Nonperforming7 134 52 7 34 64 — — — 298 
Total2,225 3,102 4,545 2,515 1,800 4,241 1,999 — (64)20,363 
Gross charge-offs14 48 111 1 32 110 — — — 316 
Commercial construction:
Pass721 1,603 1,521 516 37 71 1,461 — — 5,930 
Special mention100 106 701 158 70 95 79 — — 1,309 
Substandard54 95 752 308 — — 69 — — 1,278 
Nonperforming2 — 1 — — — — — — 3 
Total877 1,804 2,975 982 107 166 1,609 — — 8,520 
Consumer:
Residential mortgage:
Current4,174 2,754 12,743 15,471 5,298 13,793 — — — 54,233 
30 - 89 days past due21 30 69 70 49 480 — — — 719 
90 or more days past due7 53 44 31 34 312 — — — 481 
Nonperforming— 4 22 26 7 107 — — — 166 
Total4,202 2,841 12,878 15,598 5,388 14,692 — — — 55,599 
Gross charge-offs— — — — — 3 — — — 3 
Home equity:
Current— — — — — — 6,135 3,322 — 9,457 
30 - 89 days past due— — — — — — 42 18 — 60 
90 days or more past due— — — — — — 6 3 — 9 
Nonperforming— — — — — — 39 77 — 116 
Total— — — — — — 6,222 3,420 — 9,642 
Gross charge-offs— — — — — — 9 — — 9 
Indirect auto:
Current8,904 3,130 5,279 2,814 1,299 791 — — (9)22,208 
30 - 89 days past due80 113 177 110 58 84 — — — 622 
Nonperforming17 49 78 53 28 34 — — — 259 
Total9,001 3,292 5,534 2,977 1,385 909 — — (9)23,089 
Gross charge-offs23 120 216 98 47 87 — — — 591 
Other consumer:
Current9,945 6,285 5,172 2,340 1,198 1,498 2,608 21 3 29,070 
30 - 89 days past due44 71 63 25 12 14 6 1 — 236 
90 days or more past due5 10 5 1 — — 2 — — 23 
Nonperforming5 18 16 12 5 10 — — — 66 
Total9,999 6,384 5,256 2,378 1,215 1,522 2,616 22 3 29,395 
Gross charge-offs90 193 159 70 35 31 28 — — 606 
Credit card:
Current— — — — — — 4,778 14 — 4,792 
30 - 89 days past due— — — — — — 80 1 — 81 
90 days or more past due— — — — — — 53 1 — 54 
Total— — — — — — 4,911 16 — 4,927 
Gross charge-offs— — — — — — 287 9 — 296 
Total$49,948 $33,026 $53,223 $36,571 $16,773 $35,415 $78,238 $3,458 $(269)$306,383 
Gross charge-offs$160 $487 $552 $183 $120 $273 $432 $9 $— $2,216 
(1)Includes certain deferred fees and costs and other adjustments.
ACL

The following tables present activity in the ACL:

(Dollars in millions)Balance at Jan 1, 2024Charge-OffsRecoveriesProvision (Benefit)
Other(1)
Balance at Mar 31, 2024
Commercial:
Commercial and industrial$1,404 $(97)$32 $22 $(1)$1,360 
CRE616 (103)7 143 — 663 
Commercial construction174 — — 24 — 198 
Consumer:
Residential mortgage298 (1)1 (76)— 222 
Home equity89 (3)5 (1)— 90 
Indirect auto942 (154)28 107 — 923 
Other consumer890 (165)28 206 — 959 
Credit card385 (77)9 71 — 388 
ALLL4,798 (600)110 496 (1)4,803 
RUFC295 — — 4 (2)297 
ACL$5,093 $(600)$110 $500 $(3)$5,100 
(Dollars in millions)Balance at Jan 1, 2025Charge-OffsRecoveriesProvision (Benefit)
Other(1)
Balance at Mar 31, 2025
Commercial:      
Commercial and industrial$1,284 $(102)$24 $100 $1 $1,307 
CRE643 (70)7 24 — 604 
Commercial construction257 — — 23 — 280 
Consumer:     
Residential mortgage204 (1)2 22 — 227 
Home equity89 (2)4 2 — 93 
Indirect auto955 (154)25 129 — 955 
Other consumer994 (154)30 119 — 989 
Credit card431 (74)11 47 — 415 
ALLL4,857 (557)103 466 1 4,870 
RUFC304 — — (8)— 296 
ACL$5,161 $(557)$103 $458 $1 $5,166 
(1)Includes the amounts for the ALLL for PCD acquisitions and other activity.

The commercial ALLL increased $7 million, and the consumer and credit card ALLL increased $6 million in the three months ended March 31, 2025. The increase in total ALLL reflects an increase in loan volume with a generally stable reserve rate that considers uncertainty in the economic outlook. The increase in commercial ALLL reflects an increase in commercial loan balances and an increase in reserve rates primarily in commercial construction. The increase in consumer and credit card ALLL was primarily driven by loan growth with an increase in the reserve rate in residential real estate, partially offset by a decrease in volume and reserves in certain consumer non-real-estate portfolios.

The quantitative models have been designed to estimate losses using macro-economic forecasts over a reasonable and supportable forecast period of two years, followed by a reversion to long-term historical loss conditions over a one-year period. Forecasts of macroeconomic variables used in loss forecasting include unemployment trends, U.S. real GDP, corporate credit spreads, property values, home price indices, and used car prices.

The overall economic forecast incorporates a third-party baseline forecast that is adjusted to reflect Truist’s interest rate outlook. Management also considers optimistic and pessimistic third-party macro-economic forecasts in order to capture uncertainty in the economic environment. These forecasts, along with the primary economic forecast, are weighted 40% baseline, 30% optimistic, and 30% pessimistic in the March 31, 2025 ACL, unchanged since December 31, 2024. While the scenario weightings were unchanged, the economic outlook showed signs of deterioration compared to the prior quarter, primarily related to potential impacts of tariffs and increases to inflation. Risks, including tariff and inflation-related uncertainty not fully captured by the quantitative models and scenario weightings, are incrementally reflected in the qualitative component. The economic forecast shaping the quantitative model outcomes of the ACL estimate as of March 31, 2025 included low, single-digit GDP growth and a mid-to-high single-digit unemployment rate.
Quantitative models have certain limitations with respect to estimating expected losses, particularly in times of rapidly changing macro-economic conditions and forecasts. As a result, management believes that the qualitative component of the ACL, which incorporates management’s judgment related to expected future credit losses, will continue to be an important component of the ACL for the foreseeable future. The March 31, 2025 ACL estimate includes adjustments to consider the impact of current and expected events or risks not captured by the loss forecasting models, the outcomes of which are uncertain and may not be completely considered by quantitative models. Refer to “Note 1. Basis of Presentation” in Truist’s Annual Report on Form 10-K for the year ended December 31, 2024 for additional information.

NPAs

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

March 31, 2025December 31, 2024
Recorded InvestmentRecorded Investment
(Dollars in millions)Without an ALLLWith an ALLLWithout an ALLLWith an ALLL
Commercial: 
Commercial and industrial$101 $485 $52 $469 
CRE23 271 32 266 
Commercial construction— 2 — 3 
Consumer:
Residential mortgage2 177 1 165 
Home equity1 113 1 115 
Indirect auto— 248 23 236 
Other consumer— 65 — 66 
Total$127 $1,361 $109 $1,320 

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

(Dollars in millions)Mar 31, 2025Dec 31, 2024
Nonperforming loans and leases HFI$1,488 $1,429 
Nonperforming LHFS77 — 
Foreclosed real estate4 3 
Other foreclosed property49 45 
Total nonperforming assets$1,618 $1,477 
Residential mortgage loans in the process of foreclosure$208 $169 
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, 2025
(Dollars in millions)		RenewalsTerm ExtensionsInterest Rate AdjustmentsCapitalizationsPayment DelaysCombination -
Capitalization and Term Extension		OtherTotal Modified LoansPercentage of Total Class of Financing Receivable
Commercial:
Commercial and industrial$283 $— $— $— $46 $— $— $329 0.21 %
CRE223 — — — — — — 223 1.14 
Commercial construction38 — — — — — — 38 0.43 
Consumer:
Residential mortgage— 19 — 34 36 83 21 193 0.34 
Home equity— — — — — — 1 1 0.01 
Indirect auto— 5 — — 624 — 8 637 2.70 
Other consumer— 9 — — — — 1 10 0.03 
Credit card— — 8 — — — — 8 0.17 
Total$544 $33 $8 $34 $706 $83 $31 $1,439 0.47 
Three Months Ended March 31, 2024
(Dollars in millions)		RenewalsTerm ExtensionsCapitalizationsPayment DelaysCombination -
Capitalization and Term Extension		OtherTotal Modified LoansPercentage of Total Class of Financing Receivable
Commercial:
Commercial and industrial$142 $— $— $1 $— $15 $158 0.10 %
CRE167 — — 10 — 13 190 0.86 
Commercial construction45 — — — — — 45 0.60 
Consumer:
Residential mortgage— 19 13 16 55 10 113 0.21 
Home equity— — — — — 2 2 0.02 
Indirect auto— 6 — 549 — 7 562 2.54 
Other consumer— 9 — — — 1 10 0.04 
Credit card— — — — — 10 10 0.20 
Total$354 $34 $13 $576 $55 $58 $1,090 0.35 
Three Months Ended March 31, 2025
Loan TypeFinancial Effect
Renewals
Commercial and industrialExtended the term by 7 months and increased the interest rate by 0.2%.
CREExtended the term by 18 months and increased the interest rate by 0.03%.
Commercial constructionExtended the term by 12 months.
Term Extensions
Residential mortgageExtended the term by 90 months.
Indirect autoExtended the term by 26 months.
Other consumerExtended the term by 25 months.
Interest Rate Adjustments
Credit cardDecreased the interest rate by 17%.
Capitalizations
Residential mortgageCapitalized a portion of forborne loan and other advanced payments into the outstanding loan balance.
Payment Delays
Commercial and industrialProvided 180 days of payment deferral.
Residential mortgageProvided 224 days of payment deferral.
Indirect autoProvided 244 days of payment deferral.
Combination - Capitalization and Term Extension
Residential mortgageCapitalized a portion of forborne loan and other advanced payments into the outstanding loan balance and extended the term by 99 months.
Three Months Ended March 31, 2024
Loan TypeFinancial Effect
Renewals
Commercial and industrialExtended the term by 11 months and increased the interest rate by 0.5%.
CREExtended the term by 6 months and increased the interest rate by 0.5%.
Commercial constructionExtended the term by 11 months and increased the interest rate by 0.1%.
Term Extensions
Residential mortgageExtended the term by 105 months.
Indirect autoExtended the term by 26 months.
Other consumerExtended the term by 26 months.
Capitalizations
Residential mortgageCapitalized a portion of forborne loan and other advanced payments into the outstanding loan balance.
Payment Delays
Commercial and industrialProvided 90 days of payment deferral.
CREProvided 90 days of payment deferral.
Residential mortgageProvided 193 days of payment deferral.
Indirect autoProvided 186 days of payment deferral.
Combination - Capitalization and Term Extension
Residential mortgageCapitalized a portion of forborne loan and other advanced payments into the outstanding loan balance and extended the term by 85 months.

The tables above exclude trial modifications totaling $55 million and $40 million as of March 31, 2025 and 2024, 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, 2025 and December 31, 2024, Truist had $330 million and $336 million, respectively, in unfunded lending commitments to lend additional funds to borrowers experiencing financial difficulty for which Truist has modified the terms of the loans in the ways described above during the twelve months preceding March 31, 2025 and December 31, 2024, 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 ACL is adjusted by the same amount.
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, or charge-offs that occurred subsequent to modification.

Payment Status (Amortized Cost Basis)
March 31, 2025
(Dollars in millions)
Current30-89 Days Past Due90 Days or More Past DueTotal
Commercial:
Commercial and industrial$950 $13 $55 $1,018 
CRE447 — — 447 
Commercial construction108 — — 108 
Consumer:
Residential mortgage343 92 136 571 
Home equity5 — — 5 
Indirect auto1,090 162 61 1,313 
Other consumer31 2 1 34 
Credit card19 3 3 25 
Total$2,993 $272 $256 $3,521 
Total nonaccrual loans included above$306 $43 $154 $503 
Payment Status (Amortized Cost Basis)
December 31, 2024
(Dollars in millions)
Current30-89 Days Past Due90 Days or More Past DueTotal
Commercial:
Commercial and industrial$974 $44 $18 $1,036 
CRE313 7 3 323 
Commercial construction79 — — 79 
Consumer:
Residential mortgage279 95 102 476 
Home equity9 — — 9 
Indirect auto1,025 213 35 1,273 
Other consumer32 3 1 36 
Credit card20 3 2 25 
Total$2,731 $365 $161 $3,257 
Total nonaccrual loans included above$232 $78 $91 $401 

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

March 31, 2025
(Dollars in millions)
RenewalsTerm ExtensionsInterest Rate AdjustmentsCapitalizationsPayment DelaysCombination -
Capitalization and Term Extension		OtherTotal
Commercial:
Commercial and industrial$55 $— $— $— $— $— $— $55 
Consumer:
Residential mortgage— 14 — 5 77 34 6 136 
Indirect auto— 1 — — 58 — 2 61 
Other consumer— 1 — — — — — 1 
Credit card— — 3 — — — — 3 
Total$55 $16 $3 $5 $135 $34 $8 $256 
December 31, 2024
(Dollars in millions)
RenewalsTerm ExtensionsInterest Rate AdjustmentsCapitalizationsPayment DelaysCombination -
Capitalization and Term Extension		OtherTotal
Commercial:
Commercial and industrial$18 $— $— $— $— $— $— $18 
CRE3 — — — — — — 3 
Consumer:
Residential mortgage— 13 — 6 44 33 6 102 
Indirect auto— 1 — — 32 — 2 35 
Other consumer— 1 — — — — — 1 
Credit card— — 2 — — — — 2 
Total$21 $15 $2 $6 $76 $33 $8 $161 

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, 2025Dec 31, 2024
Unearned income, discounts, and net deferred loan fees and costs$495 $595