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 Foundation has announced a $2.25 million grant to Community First Fund, aimed at supporting 500 Black and Latine entrepreneurs and financing 100 minority-owned businesses to generate 400 jobs in Pennsylvania. This grant is part of Truist's broader $120 million initiative to bolster small businesses nationally. The newly formed Economic Justice Fund will enhance lending activities for minority entrepreneurs, focusing on the Greater Philadelphia area. Truist emphasizes its commitment to financial equity and supports community development through sustainable economic initiatives.
Truist Financial Corporation (NYSE: TFC) has appointed Scott Stanzel as the new executive vice president and chief communications officer, effective October 1, 2022. Reporting to Chief Legal Officer Ellen Fitzsimmons, Stanzel will oversee corporate communications from Truist's headquarters in Charlotte, North Carolina. With extensive experience, including positions at Capital One, Amazon, and Microsoft, Stanzel aims to enhance stakeholder engagement. The company also announced that Brian Davis will transition to a new role, details of which will be revealed soon.
Truist Financial Corporation (NYSE: TFC) announced the acquisition of key strategic assets from Zaloni, including the Arena platform, enhancing its data governance and analytics capabilities. This acquisition aims to advance Truist's artificial intelligence and machine learning initiatives. Key Zaloni personnel will join Truist's Enterprise Data Office, based in Raleigh. The Arena platform is designed to improve data management, reduce IT costs, and accelerate insights. The deal underscores Truist’s commitment to evolving its services and enhancing customer experience.
Truist Financial Corporation (NYSE: TFC) announced a $1.45 million commitment to Junior Achievement of Greater Washington (JAGW) to enhance financial literacy programs for over 40,000 students in Fairfax and Prince George's counties. This funding aims to support JAGW's JA Finance Park initiative, preparing students for financial and career success through experiential education. Since 2021, Truist has donated $5.1 million to various initiatives, demonstrating its dedication to economic equity and community development in the Greater Washington area.
Truist Financial Corporation (NYSE: TFC) has scheduled earnings conference calls for its quarterly financial results. The calls are set for the following dates: Fourth quarter 2022 on January 19, 2023; First quarter 2023 on April 20, 2023; Second quarter 2023 on July 20, 2023; Third quarter 2023 on October 19, 2023; and Fourth quarter 2023 on January 18, 2024, all at 8 a.m. ET. Truist, headquartered in Charlotte, NC, boasts total assets of $545 billion as of June 30, 2022, and offers a comprehensive range of financial services.
On August 8, 2022, Truist Financial Corporation (NYSE: TFC) announced its response to an unsolicited mini-tender offer from TRC Capital Investment Corporation. The offer, dated July 25, 2022, proposed purchasing up to two million shares at $46.14 each, which is 4.15% lower than Truist's closing price on July 22, 2022. Truist advised shareholders to reject the offer as it undervalues their shares, emphasizing the risks associated with mini-tender offers that evade SEC protections. The offer is set to expire at 12:01 a.m. on August 23, 2022.
Truist Insurance Holdings, a subsidiary of Truist Financial Corporation (NYSE: TFC), announced its acquisition of BenefitMall, the largest benefits wholesale general agency in the U.S., from Carlyle (NASDAQ: CG). This strategic move will add approximately $150 million in annual revenue to Truist's wholesale division. The acquisition aims to diversify client solutions and enhance the overall client experience. The deal is expected to close in Q3 2022, pending customary conditions. BenefitMall, with over 40 years of experience, serves more than 140,000 businesses across the country.
Truist Financial Corporation (NYSE: TFC) has appointed J. Christopher Ward as the head of its Wholesale Payments business, responsible for treasury solutions, merchant services, and commercial card solutions. Ward, with over 30 years of experience in payments, previously held leadership roles at PNC Bank, where he focused on data and innovation in treasury management. His appointment aims to drive innovation and enhance payment capabilities for Truist's business clients, reinforcing the firm's commitment to providing secure and comprehensive client experiences.
Truist Financial Corporation (NYSE: TFC) announced an increase in its prime lending rate from 4.75% to 5.50%, effective July 28, 2022. This adjustment reflects current economic conditions and will impact borrowing costs for consumers and businesses. As of June 30, 2022, Truist's total assets stood at $545 billion, showcasing its position as a top 10 U.S. commercial bank. The company focuses on various financial services, including retail banking, asset management, and corporate banking, aiming to enhance community and individual well-being.
Truist Financial Corporation (TFC) has updated progress on its $60 billion Community Benefits Plan, focused on rural development. As of May 31, 2022, Truist has achieved 112% of the prorated target, amounting to $54.5 billion. The bank has invested over $80 million between January 2020 and June 2022 in initiatives for affordable housing, workforce development, and small business support. Stakeholder sessions identified key rural needs, including workforce and small business development. Truist's strategy emphasizes tailored solutions and partnerships with Community Development Financial Institutions.