| North Carolina | 56-0149200 | |||||||
(Jurisdiction of incorporation if not a U.S. national bank) | (I.R.S. Employer Identification No.) | |||||||
223 West Nash Street Wilson, NC 27893 | 27893 | |||||||
| (Address of principal executive offices) | (Zip Code) | |||||||
Items 3- 15 | No responses are included for Items 3-15. Responses to those items are not required because, as provided in General Instruction B, the obligor is not in default on any securities issued under indentures under which Truist Bank is a trustee and Truist Bank is not a foreign trustee. | ||||
| Exhibit 1. | A copy of the Articles of Incorporation for Truist Bank. (See Exhibit 1 to Form T-1 filed with Registration Statement No. 333-267664). | |||||||
| Exhibit 2. | The authority of Truist Bank to commence business was granted under the Articles of Incorporation for Truist Bank. (See Exhibit 2 to Form T-1 filed with Registration Statement No. 333-267664). | |||||||
| Exhibit 3. | The authorization to exercise corporate trust powers was granted by the State of North Carolina Commissioner of Banks in the Authority to Act as Fiduciary without Bond Certificate. (See Exhibit 3 to Form T-1 filed with Registration Statement No. 333-267664). | |||||||
| Exhibit 4. | A copy of the existing By-Laws of Truist Bank. (See Exhibit 4 to Form T-1 filed with Registration Statement No. 333-267664). | |||||||
| Exhibit 5. | Not applicable. | |||||||
| Exhibit 6. | The consent of Trustee as required by Section 321(b) of the Trust Indenture Act of 1939. (See Exhibit 4 to Form T-1 filed with Registration Statement No. 333-267664). | |||||||
| Exhibit 7. | The Current Report of the Condition of Trustee, published pursuant to law or the requirements of its supervising or examining authority, is attached as Exhibit 7. | |||||||
| Exhibit 8. | Not applicable. | |||||||
| Exhibit 9. | Not applicable. | |||||||
| TRUIST BANK | ||||||||
By: /s/ Patrick Giordano | ||||||||
| Name: | Patrick Giordano | |||||||
| Title: | Vice President | |||||||
| (Dollars in millions, except per share data, shares in thousands) | Dec 31, 2025 | Dec 31, 2024 | ||||||
| Assets | ||||||||
| Cash and due from banks | $ | 4,967 | $ | 5,793 | ||||
| Interest-bearing deposits with banks | 31,410 | 33,975 | ||||||
| Securities borrowed or purchased under agreements to resell | 3,200 | 2,550 | ||||||
| Trading assets at fair value | 5,790 | 5,100 | ||||||
| AFS securities at fair value | 65,042 | 67,464 | ||||||
| HTM securities (fair value of $39,130 and $40,286, respectively) | 47,186 | 50,640 | ||||||
| LHFS (including $1,622 and $1,233 at fair value, respectively) | 1,883 | 1,388 | ||||||
| Loans and leases (including $11 and $13 at fair value, respectively) | 328,595 | 306,383 | ||||||
| ALLL | (5,030) | (4,857) | ||||||
| Loans and leases, net of ALLL | 323,565 | 301,526 | ||||||
| Premises and equipment | 3,172 | 3,225 | ||||||
| Goodwill | 17,125 | 17,125 | ||||||
| CDI and other intangible assets | 1,256 | 1,550 | ||||||
| Loan servicing rights at fair value | 3,972 | 3,708 | ||||||
| Other assets (including $1,725 and $1,271 at fair value, respectively) | 38,970 | 37,132 | ||||||
| Total assets | $ | 547,538 | $ | 531,176 | ||||
| Liabilities | ||||||||
| Noninterest-bearing deposits | $ | 105,092 | $ | 107,451 | ||||
| Interest-bearing deposits (including $639 and $192 at fair value, respectively) | 295,306 | 283,073 | ||||||
| Short-term borrowings (including $2,394 and $1,896 at fair value, respectively) | 27,839 | 29,205 | ||||||
| Long-term debt | 41,963 | 34,956 | ||||||
| Other liabilities (including $1,797 and $2,286 at fair value, respectively) | 12,149 | 12,812 | ||||||
| Total liabilities | 482,349 | 467,497 | ||||||
| Shareholders’ Equity | ||||||||
| Preferred stock | 4,916 | 5,907 | ||||||
| Common stock, $5 par value | 6,312 | 6,580 | ||||||
| Additional paid-in capital | 33,663 | 35,628 | ||||||
| Retained earnings | 26,067 | 23,777 | ||||||
| AOCI, net of deferred income taxes | (5,769) | (8,213) | ||||||
| Total shareholders’ equity | 65,189 | 63,679 | ||||||
| Total liabilities and shareholders’ equity | $ | 547,538 | $ | 531,176 | ||||
| Common shares outstanding | 1,262,470 | 1,315,936 | ||||||
| Common shares authorized | 2,000,000 | 2,000,000 | ||||||
| Preferred shares outstanding | 176 | 216 | ||||||
| Preferred shares authorized | 5,000 | 5,000 | ||||||