From relief to recovery: Truist and Truist Foundation surpass halfway point of $725 million Truist Cares for Western North Carolina commitment

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Truist Financial (NYSE:TFC) and Truist Foundation reported they have surpassed the halfway point of the $725 million Truist Cares for Western North Carolina commitment launched after Hurricane Helene. The multiyear program combines dedicated small business, commercial real estate and home mortgage lending with philanthropic grants for housing, business recovery and community resilience.

The Truist Foundation Western North Carolina Recovery and Resiliency Fund, managed with Center for Disaster Philanthropy, has completed four grant rounds and is entering its final deployment phase, aiming to fully disburse funds by the storm’s two-year anniversary. Truist teammates have also contributed more than 5,000 volunteer hours to local organizations.

Positive

• Truist Cares commitment surpasses halfway point of $725 million for Western North Carolina
• Targeted lending for small business, commercial real estate and home mortgages is ahead of initiative targets
• Recovery and Resiliency Fund entering final phase, on track to fully deploy grants by Hurricane Helene’s two-year anniversary
• More than 5,000 volunteer hours contributed by Truist teammates to community organizations in the region

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• New mortgage and small business lending is ahead of target, increasing housing availability, stability and allowing local businesses to reopen, strengthen the region's economic recovery following Hurricane Helene devastation
• Truist Foundation's recovery and resiliency fund enters final phase of grant deployment, on track to disburse all funds by two-year anniversary of Helene's impact

CHARLOTTE, N.C., Aug. 27, 2026 /PRNewswire/ -- As global leaders gather in Asheville, North Carolina, Truist Financial Corporation (NYSE: TFC) and Truist Foundation announce they have surpassed the halfway point of the $725 million Truist Cares for Western North Carolina commitment established following Hurricane Helene. The multiyear initiative supports the region's long-term recovery through dedicated lending for small businesses, commercial real estate development and home mortgages, along with philanthropic grants supporting housing, small business recovery and community resilience.

"The progress in Western North Carolina demonstrates what's possible when business, philanthropy and community partners work together toward a common goal," said Truist Chairman and CEO Bill Rogers. "Surpassing the halfway mark of the $725 million commitment demonstrates how Truist and Truist Foundation are putting purpose into action to support impacted families, small businesses and communities. While there is more work ahead, we're encouraged by the progress made and remain committed to the region's long-term recovery and resilience."

The Truist Foundation Western North Carolina Recovery and Resiliency Fund, managed in partnership with Center for Disaster Philanthropy, has completed four rounds of grantmaking and is entering its final phase of deployment. The fund is on track to disburse all available grant funding by the second anniversary of Hurricane Helene. Grantmaking has been informed by an assessment of local needs and ongoing engagement with nonprofit organizations, community leaders and other recovery partners.

Truist small business, commercial real estate and home mortgage lending progress is ahead of the initiative's target to date:

• Small business: Dedicated lending helps qualified local businesses access capital as they rebuild and reopen. Truist and Truist Foundation have also worked with community partners to create financing programs, referral pathways and technical assistance resources designed to reach businesses across the region, including entrepreneurs in rural communities and industries critical to the local economy.
• Commercial real estate: Financing supports commercial real estate activity across Western North Carolina, including multifamily housing projects that can help address the region's ongoing housing needs by preserving existing housing and advancing new affordable housing development.
• Home mortgage: Dedicated mortgage lending helps residents finance homes across Western North Carolina. The program supports broader housing recovery efforts and ongoing investment in communities throughout the region.

Truist teammates have shown up alongside communities with hands-on service—contributing more than 5,000 hours of volunteer support and strengthening dozens of community organizations. Together, these efforts reflect a simple belief: Communities don't recover on a timeline. Meaningful recovery requires partners willing to stay engaged long after the headlines fade.

Truist Cares for Western North Carolina was announced in November 2024 to support small business, housing and infrastructure recovery following Hurricane Helene. The initiative combines dedicated lending, impact capital, philanthropic support and teammate volunteer engagement as communities transition from immediate relief to long-term recovery and resilience.

To learn more about Truist Cares for Western North Carolina, visit Truist.com/truistcares.

About Truist

Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Headquartered in Charlotte, North Carolina, Truist has leading market share in many of the high-growth markets in the U.S. and offers a wide range of products and services through wholesale and consumer businesses, including consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending businesses. Truist is a top-10 commercial bank with total assets of $556 billion as of June 30, 2026. Truist Bank, Member FDIC. Equal Housing Lender. Learn more at Truist.com.

About Truist Foundation

Truist Foundation is committed to Truist Financial Corporation's (NYSE: TFC) purpose to inspire and build better lives and communities. The foundation, an endowed private foundation established in 2020 whose operating budget is independent of Truist Financial Corporation, makes strategic investments in a wide variety of nonprofit organizations centered around two focus areas: building career pathways to economic mobility and strengthening small businesses to ensure all communities have an equal opportunity to thrive. Embodying these focus areas are the foundation's leading initiatives, the Inspire Awards and Where It Starts. Learn more at TruistFoundation.org.

 

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SOURCE Truist Financial Corporation

FAQ

What is the $725 million Truist Cares for Western North Carolina initiative by Truist (NYSE:TFC)?

Truist Cares for Western North Carolina is a multiyear $725 million commitment supporting Hurricane Helene recovery. According to Truist, it combines dedicated lending, impact capital, philanthropic grants and volunteer service to aid housing, small business recovery and long-term community resilience across the region.

How much of Truist’s $725 million Truist Cares commitment has been deployed as of August 27, 2026 (TFC)?

As of August 27, 2026, Truist reports it has surpassed the halfway point of its $725 million Truist Cares commitment. According to Truist, this reflects progress in dedicated lending and grants supporting housing, small businesses and community recovery in Western North Carolina.

What types of lending does Truist (NYSE:TFC) provide under Truist Cares for Western North Carolina?

Truist provides dedicated small business, commercial real estate and home mortgage lending under Truist Cares. According to Truist, these loans support business rebuilding, multifamily and affordable housing projects, and home purchases, helping stabilize communities and strengthen the region’s long-term economic recovery after Hurricane Helene.

When will the Truist Foundation Western North Carolina Recovery and Resiliency Fund complete grant disbursement?

The Recovery and Resiliency Fund is on track to disburse all grant funding by the second anniversary of Hurricane Helene’s impact. According to Truist, the fund is entering its final deployment phase after four grantmaking rounds informed by local needs assessments and partner input.

How is Truist (TFC) supporting small businesses in Western North Carolina after Hurricane Helene?

Truist supports small businesses through dedicated lending, financing programs and technical assistance. According to Truist, it partners with community organizations to build referral pathways and resources that help qualified local businesses, including rural entrepreneurs and key local industries, access capital to rebuild and reopen.

What role does volunteerism play in Truist’s Truist Cares for Western North Carolina effort?

Volunteerism is a key component, with Truist teammates contributing more than 5,000 hours of service. According to Truist, these hands-on efforts support dozens of community organizations and reflect a commitment to staying engaged throughout Western North Carolina’s long-term recovery beyond the initial disaster response.