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 Corporation (NYSE: TFC) announced the redemption of $1,350,000,000 principal amount of its 3.050% senior notes due June 20, 2022, effective May 20, 2022. The redemption price will be 100% of the principal plus accrued interest, which will cease on the redemption date. Payments will be processed through The Depository Trust Company. With total assets of $544 billion as of March 31, 2022, Truist is among the top 10 U.S. commercial banks, offering diverse financial services and holding significant market share in key growth areas.
Truist Foundation has awarded a $15.7 million grant to the Council for Adult and Experiential Learning (CAEL) to enhance career pathways in financial services for BIPOC and underserved communities. This six-year initiative aims to provide training and support to adult learners, helping them secure employment in historically inaccessible industries. By partnering with local educational institutions and workforce organizations, CAEL seeks to create a diverse talent pipeline and improve access to high-wage jobs.
Truist Financial Corporation (NYSE: TFC) has announced an increase in its prime lending rate, raising it from 3.50% to 4.00%, effective May 5, 2022. This change reflects ongoing adjustments in the financial landscape.
Truist, based in Charlotte, North Carolina, ranks as a top 10 U.S. commercial bank, boasting total assets of $544 billion as of March 31, 2022. The bank offers a comprehensive range of financial services aimed at enhancing community and economic well-being.
Truist Financial Corporation (NYSE: TFC) has acquired Long Game, an innovative gamified finance mobile app, aimed at enhancing financial wellness and client engagement. The acquisition, announced on May 3, 2022, is part of Truist's strategy to leverage technology for better client experiences and retention. Long Game's gamified approach encourages smart financial behaviors and is expected to attract millennials and Gen Z users. The integration of Long Game’s team will bolster Truist’s Innovation team and align with existing initiatives like Truist Momentum.
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The Board of Directors of Truist Financial Corporation (TFC) declared a quarterly cash dividend of $0.48 per common share, payable on June 1, 2022. Shareholders on record as of May 13, 2022 will receive this payment. Additionally, cash dividends were declared for several series of preferred stock, with respective record and payment dates outlined. Total assets for Truist reached $544 billion as of March 31, 2022, reflecting the company's substantial financial position.
Truist Financial Corporation (TFC) reported a first quarter 2022 net income of $1.3 billion, or $0.99 per diluted share, remaining stable year-over-year. Adjusted earnings rose to $1.6 billion, or $1.23 per diluted share, with a 4.2% increase from the previous year. Key highlights include solid loan growth, strong expense control, and a completed core bank conversion impacting nearly seven million clients. However, fee revenues were impacted by market volatility and geopolitical uncertainties. The company acknowledges the challenges ahead but remains confident in its outlook.
Truist Financial Corporation (NYSE: TFC) announced the relocation of Truist Securities' national headquarters to a new 250,000-square-foot building at The Battery Atlanta. The construction is set to begin in the second half of 2022, with completion expected in 2024. This facility will support around 1,000 employees and feature a state-of-the-art trading floor. Truist has signed a 15-year lease and aims to strengthen its presence in Atlanta, enhancing its partnership with the Atlanta Braves.
Truist Bank, located in Charlotte, N.C., is set to redeem $1.35 billion of its 2.800% senior notes and $650 million of its floating rate senior notes on April 17, 2022. The redemption price will be 100% of the principal amount plus accrued interest. Payments will be made the next business day, April 18, 2022, due to the redemption date falling on a weekend. With over $541 billion in total assets as of December 31, 2021, Truist remains a top 10 U.S. commercial bank, offering a wide range of financial services.
Truist Financial Corporation (NYSE: TFC) has appointed Dontá L. Wilson as the leader of Retail Community Banking and Marketing. He will oversee over 2,100 branches across the Southeast, Mid-Atlantic, and Texas. Wilson's extensive experience includes roles as chief digital and client experience officer since 2018 and various leadership positions since 1995. He succeeds Brant J. Standridge, who has left for new opportunities. Wilson aims to enhance client experience by blending digital services with personal service. Truist has total assets of $541 billion as of December 31, 2021.