Fair Value Disclosures (Tables)

9 Months Ended

Sep. 30, 2026

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present fair value information for assets and liabilities measured at fair value on a recurring basis:


September 30, 2026 (Dollars in millions)	Total		Level 1		Level 2		Level 3		Netting Adjustments(1)
Assets:
Trading assets:
U.S. Treasury	$	113	$	—	$	113	$	—	$	—
GSE	35		—		35		—		—
States and political subdivisions	144		—		144		—		—
Corporate and other debt securities	2,049		—		2,049		—		—
Loans	1,692		—		1,692		—		—
Equity securities	1,185		1,185		—		—		—

Total trading assets	5,218		1,185		4,033		—		—
AFS securities:
U.S. Treasury	15,517		—		15,517		—		—
GSE	404		—		404		—		—
Agency MBS – residential	40,315		—		40,315		—		—
Agency MBS – commercial	3,079		—		3,079		—		—
States and political subdivisions	320		—		320		—		—
Collateralized loan obligations	1,886		—		1,886		—		—
Other	2		—		2		—		—
Total AFS securities	61,523		—		61,523		—		—
LHFS	1,270		—		1,270		—		—
Loans and leases	9		—		—		9		—
Loan servicing rights at fair value	5,066		—		—		5,066		—
Other assets:
Derivative assets	1,955		1,699		2,807		5		(2,556)
Equity securities	389		298		91		—		—
Other	7		—		7		—		—
Total assets	$	75,437	$	3,182	$	69,731	$	5,080	$	(2,556)
Liabilities:
Interest-bearing deposits:
Brokered time deposits	$	776	$	—	$	776	$	—	$	—
Short-term borrowings:
Securities sold short	2,600		1,144		1,456		—		—
Other trading liabilities	183		—		183		—		—
Other liabilities:
Derivative liabilities	3,329		797		5,791		234		(3,493)
Total liabilities	$	6,888	$	1,941	$	8,206	$	234	$	(3,493)


December 31, 2025 (Dollars in millions)	Total		Level 1		Level 2		Level 3		Netting Adjustments(1)
Assets:
Trading assets:
U.S. Treasury	$	244	$	—	$	244	$	—	$	—
GSE	42		—		42		—		—
States and political subdivisions	301		—		301		—		—
Corporate and other debt securities	1,970		—		1,970		—		—
Loans	2,168		—		2,168		—		—
Equity securities	1,065		1,065		—		—		—

Total trading assets	5,790		1,065		4,725		—		—
AFS securities:
U.S. Treasury	12,792		—		12,792		—		—
GSE	460		—		460		—		—
Agency MBS – residential	48,226		—		48,226		—		—
Agency MBS – commercial	3,200		—		3,200		—		—
States and political subdivisions	350		—		350		—		—

Other	14		—		14		—		—
Total AFS securities	65,042		—		65,042		—		—
LHFS	1,622		—		1,622		—		—
Loans and leases	11		—		—		11		—
Loan servicing rights at fair value	3,972		—		—		3,972		—
Other assets:
Derivative assets	1,343		1,157		1,961		4		(1,779)
Equity securities	382		293		89		—		—

Total assets	$	78,162	$	2,515	$	73,439	$	3,987	$	(1,779)
Liabilities:
Interest-bearing deposits:
Brokered time deposits	$	639	$	—	$	639	$	—	$	—
Short-term borrowings:
Securities sold short	2,185		652		1,533		—		—
Other trading liabilities	209		—		209		—		—
Other liabilities:
Derivative liabilities	1,797		623		3,959		33		(2,818)
Total liabilities	$	4,830	$	1,275	$	6,340	$	33	$	(2,818)

(1)Refer to “Note 14. Derivative Financial Instruments” for additional discussion on netting adjustments.

Rollforward of Level 3 Assets and Liabilities

Activity for Level 3 assets and liabilities is summarized below:


(Dollars in millions)	Loans and Leases		Loan Servicing Rights		Net Derivatives
Balance at July 1, 2025	$	12	$	3,612	$	(20)
Total realized and unrealized gains (losses):
Included in earnings	—		14		(7)
Purchases	—		182		—
Issuances	—		63		5

Settlements	(1)		(95)		(16)


Balance at September 30, 2025	$	11	$	3,776	$	(38)
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at September 30, 2025	$	—	$	14	$	(15)

Balance at July 1, 2026	$	10	$	4,293	$	(18)
Total realized and unrealized gains (losses):
Included in earnings	—		290		(34)
Purchases	—		480		—
Issuances	—		118		(31)

Settlements	(1)		(115)		31
Transfers in	—		—		(177)

Balance at September 30, 2026	$	9	$	5,066	$	(229)
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at September 30, 2026	$	—	$	291	$	(46)


(Dollars in millions)	Loans and Leases		Loan Servicing Rights		Net Derivatives










Balance at January 1, 2025	$	13	$	3,708	$	(41)
Total realized and unrealized gains (losses):
Included in earnings	—		(15)		1
Purchases	—		182		—
Issuances	—		174		22

Settlements	(2)		(273)		(20)


Balance at September 30, 2025	$	11	$	3,776	$	(38)
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at September 30, 2025	$	—	$	(15)	$	(18)

Balance at January 1, 2026	$	11	$	3,972	$	(29)
Total realized and unrealized gains (losses):
Included in earnings	—		341		(31)
Purchases	—		755		—
Issuances	—		327		(48)

Settlements	(2)		(329)		56
Transfers in	—		—		(177)

Balance at September 30, 2026	$	9	$	5,066	$	(229)
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at September 30, 2026	$	—	$	341	$	(46)
Primary income statement location of realized gains (losses) included in earnings	Other income		Mortgage banking income		Mortgage banking income and other income

Level 3 Valuation Techniques on Equity Derivatives

The following table presents information about the valuation techniques and significant unobservable inputs used to measure the fair value of certain equity derivatives measured at fair value on a recurring basis. Such equity derivatives primarily consist of long-dated options that are not traded on an exchange and may also include exchange-traded options with limited transaction volumes for which certain significant valuation inputs are unobservable. These options are valued using an option pricing model, which is generally used for instruments that provide the holder with a contingent right or obligation based on the future performance of an underlying equity instrument. The significant unobservable input utilized in the valuation is volatility, which represents a market participant’s expectation of the variability in the value of the underlying equity instrument over the contractual term of the derivatives.

Generally, increases in volatility result in a higher fair value for instruments in which Truist is long the underlying exposure, while decreases in volatility result in a lower fair value. The inverse relationship generally applies to instruments in which Truist is short the underlying exposure. Weighted average volatility is calculated based on the notional amounts of the derivative instruments.


September 30, 2026					Range				Weighted Average
(Dollars in millions)	Fair Value		Principal Valuation Technique	Significant Unobservable Input	Min		Max
Equity derivatives	$	(177)	Option Model	Volatility Factor	55.5	%	80.0	%	69.0	%

Fair Value and UPB of LHFS

The following table details the fair value and UPB of certain loans and time deposits that were elected to be measured at fair value:


	September 30, 2026						December 31, 2025
(Dollars in millions)	Fair Value		UPB		Difference		Fair Value		UPB		Difference
Trading loans	$	1,692	$	1,763	$	(71)	$	2,168	$	2,230	$	(62)
LHFS	1,270		1,302		(32)		1,622		1,592		30
Loans and leases	9		10		(1)		11		12		(1)
Brokered time deposits	776		804		(28)		639		642		(3)

Assets Measured at Fair Value on a Nonrecurring Basis

The following table provides information about certain assets measured at fair value on a nonrecurring basis held as of period end with valuation adjustments recorded during the period. The end of period carrying value approximates the fair value.


(Dollars in millions)	Fair Value Hierarchy	Sep 30, 2026		Dec 31, 2025
Carrying value:



Total loans and leases, including loans transferred to LHFS	Level 3	$	566	$	472
Other	Level 3	25		65

The following table provides information about valuation adjustments for certain assets measured at fair value on a nonrecurring basis. The valuation adjustments represent the amounts recorded during the period regardless of whether the asset is still held at period end.


	Nine Months Ended September 30,
(Dollars in millions)	2026		2025
Valuation adjustments:


Total loans and leases, including loans transferred to LHFS	$	(811)	$	(692)
Other	(244)		(229)

Carrying Amounts and Fair Value of Financial Assets and Liabilities Not Recorded at Fair Value

Financial assets and liabilities not recorded at fair value are summarized below:


		September 30, 2026				December 31, 2025
(Dollars in millions)	Fair Value Hierarchy	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
HTM securities	Level 2	$	48,666	$	38,263	$	47,186	$	39,130
Loans and leases, net of ALLL	Level 3	319,858		313,670		323,554		320,018
Financial liabilities:
Time deposits	Level 2	38,284		38,077		37,793		37,723
Long-term debt	Level 2	53,373		53,632		41,963		42,451

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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