Welcome to our dedicated page for Truist Finl news (Ticker: TFC), a resource for investors and traders seeking the latest updates and insights on Truist Finl stock.
Truist Financial Corporation reports news as a large U.S. banking and financial services company serving consumer, small business, commercial, corporate, institutional and high-net-worth clients. Its recurring updates cover quarterly results, common and preferred stock dividends, share repurchase activity, debt issuance, and business-line developments across consumer banking, wholesale banking, wealth management, payments, investment banking and specialized lending.
Company announcements also address digital banking and data-access partnerships, Enterprise Payments and treasury management activity, Truist Securities advisory and capital markets capabilities, and Truist Wealth investment solutions. Truist emerged from the combination of BB&T and SunTrust and operates through Truist Bank and related financial-services businesses.
Truist Financial (NYSE: TFC) announced that CFO Mike Maguire will speak at the Morgan Stanley US Financials, Payments & CRE Conference on June 11, 2024, in New York City. The event will be available via live audio webcast at 1:45 p.m. ET, and a replay will be accessible for 30 days on the company's investor relations website.
Truist is a major U.S. commercial bank headquartered in Charlotte, North Carolina, with $535 billion in assets as of March 31, 2024. The bank offers a variety of services, including consumer and commercial banking, investment banking, wealth management, and payments.
Truist Financial (NYSE: TFC) announced the redemption of its $1 billion floating rate senior notes due June 9, 2025. The redemption will take place on June 9, 2024, at a price equal to 100% of the principal amount plus accrued and unpaid interest up to the redemption date. The interest on these senior notes will cease accruing after the redemption date. Payment will be made through The Depository Trust Company. Truist Financial, a major U.S. commercial bank, has total assets of $535 billion as of March 31, 2024.
The Home Builders Institute (HBI), in partnership with the Fioretti Family Charitable Fund, launched the BuildStrong Academy of Charlotte. This free training facility aims to address the critical skilled labor shortage in Charlotte's residential construction sector. The program offers 9-week training sessions at no cost, covering basic construction skills and trade-specific training in carpentry and electrical work. Graduates receive industry-recognized certifications, including an OSHA-10 safety certification, and are job-ready. Key contributors include The Home Depot Foundation, Truist Foundation, and DEWALT, all committed to creating a sustainable pipeline of skilled construction professionals.
Truist Financial (NYSE: TFC) announced that its Chairman and CEO, Bill Rogers, will speak at the Bernstein Strategic Decisions Conference on May 30, 2024, in New York City. The event will be webcast live at 10 a.m. ET, with a replay available for 30 days on Truist's investor relations website. Truist, headquartered in Charlotte, NC, is one of the top-10 commercial banks in the U.S. with total assets of $535 billion as of March 31, 2024. The company offers a variety of financial services including consumer banking, commercial banking, and wealth management.
Truist Financial (NYSE: TFC) announced conference call dates to review quarterly financial results for 2025. The calls will be held on specific dates for each quarter, providing insights into the company's performance and market trends. Truist is a leading U.S. commercial bank with a strong presence in high-growth markets, offering a wide range of financial services.
Truist Financial (NYSE: TFC) has completed the sale of its stake in Truist Insurance Holdings to private equity firms Stone Point Capital and Clayton, Dubilier & Rice for $15.5 billion. The transaction aims to enhance TIH's growth prospects and strengthen its operations in the insurance brokerage industry. TIH will operate independently with a new board of directors and a rebranding to TIH. The deal offers TIH employees the opportunity to co-invest in the company, fostering stability and future success.
Truist Financial (NYSE: TFC) completed the sale of Truist Insurance Holdings to private equity firms, resulting in after-tax cash proceeds of $10.1 billion and an after-tax gain of $4.7 billion. The sale boosted Truist's financial profile, increasing CET1 capital by $9.4 billion and raising the CET1 capital ratio to 12.4%. Subsequently, Truist repositioned its balance sheet by selling $27.7 billion in lower-yielding investment securities, generating $29.3 billion for reinvestment. The repositioning slightly decreased the pro-forma CET1 ratio to 11.4%. Truist estimates a $160 million increase in net interest income for the second quarter of 2024 and $710 million for the whole year, affecting revenue projections positively.
Truist's Small Business Pulse Survey reveals that small business owners are prioritizing short-term challenges over long-term planning due to inflation and economic uncertainty. Despite high stress levels, they remain optimistic about growth in 2024. Businesses struggle with long-term strategy but are taking steps to improve financial well-being and attract talent.
Truist Financial (NYSE:TFC) introduces Truist Life, Money, and ChoicesTM, a financial education program for high school and college students. The initiative aims to equip younger generations with essential financial skills, offering interactive learning opportunities through community organizations. Truist's program addresses the lack of financial education in schools, providing a realistic financial simulation for participants to make informed decisions. With a focus on key budgeting principles and practical skills, Truist's initiative empowers students towards financial confidence.
Truist Financial (TFC) has launched the Truist Life, Money, and Choices™ financial education program aimed at high school and college students. This initiative provides realistic financial scenarios to equip the younger generation with essential skills to navigate their financial futures. With the goal of empowering students with key financial concepts, the program offers comprehensive resources and interactive learning opportunities through community organization partners.
The program kicked off with a session at Southeast Raleigh Magnet High School, offering a scalable, free training module with up to 12 learning stations covering various expense categories. Participants are guided through different financial strategies, understanding the consequences of their choices, and encountering unexpected financial scenarios. Truist aims to build a more financially responsible society by investing in financial education for students.
With a focus on key budgeting principles and practical skills for long-term financial success, Truist encourages high schools, colleges, and community organizations to participate in this transformative program. The company is committed to inspiring and building better lives and communities through its purpose-driven financial services.