Truist sold $27.7 billion of lower-yielding investment securities in Q2 2024, resulting in an after-tax loss of $5.1 billion. The proceeds were reinvested in shorter duration securities and cash, with the goal of improving interest rate risk profile and liquidity.

Truist completed the sale of its remaining stake in Truist Insurance Holdings (TIH) in Q2 2024, resulting in an after-tax gain of $4.8 billion. The divestiture is considered a strategic shift that has a major effect on the company's operations and financial results.

Truist's board of directors authorized a $5 billion share repurchase program beginning in Q3 2024 through 2026, signaling confidence in the company's capital position and future cash flow generation.

Noninterest expense increased 1.6% YoY in Q2 2024, primarily due to a charitable contribution and FDIC special assessment adjustment, partially offset by lower personnel expense. Adjusted noninterest expense decreased 3.0% YoY.

Truist appointed an interim CIO in April 2024 and announced the hiring of a new CIO in August 2024, indicating a focus on leadership in technology and data.

Truist's CET1 ratio was 11.6% as of June 30, 2024, up 150 basis points compared to March 31, 2024, due to the sale of TIH and organic capital generation, partially offset by the balance sheet repositioning.

The quantitative valuation of the WB reporting unit indicated that as of January 1, 2024, the fair value of the WB reporting unit exceeded its carrying value by less than 10%, indicating that the goodwill of the WB reporting unit may be at risk of impairment.

The SEC and CFTC have requested information from various subsidiaries of the Company that conduct broker-dealer, investment adviser, and swap dealer activities regarding compliance with applicable recordkeeping requirements for business-related electronic communications.

The Civil Division of the U.S. DOJ issued subpoenas to a corporate predecessor of Truist Bank under the Financial Institutions Reform, Recovery, and Enforcement Act. These subpoenas requested documents and other information related to specified trusts for which Truist Bank serves as trustee.

Truist's core banking businesses showed solid momentum as evidenced by strong year-over-year growth in investment banking and trading revenue and continued expense discipline, while client deposits stabilized.

While loan demand remained muted, Truist was encouraged by an improvement in its dialogue with clients and its expanded capacity to support their needs.

Truist achieved market share gains in certain key segments despite intense competition, attributed to product innovation and enhanced customer support.

Personnel expense decreased 2.6% YoY in Q2 2024, due to lower headcount across most lines of business, partially offset by higher incentives and higher medical claims.

Noninterest expense increased 1.6% YoY in Q2 2024, with higher corporate technology costs and operations support expenses, partially offset by lower personnel expense and restructuring charges.

Truist continues to focus on expense discipline, as evidenced by the decrease in adjusted noninterest expense, which excludes certain items, compared to the prior year.

Truist appointed an interim CIO in April 2024 and announced the hiring of a new CIO in August 2024, indicating a focus on leadership in technology and data.

Truist continues to invest in technology, as evidenced by the increase in software expense, and corporate technology costs, partially offset by lower personnel expense.

Truist continues to focus on digital channels, with a comprehensive set of technology-enabled consumer lending solutions, including point-of-sale offerings.

Truist's board of directors authorized a $5 billion share repurchase program beginning in Q3 2024 through 2026, indicating a focus on returning capital to shareholders.

Truist sold $27.7 billion of lower-yielding investment securities in Q2 2024, resulting in an after-tax loss of $5.1 billion. The proceeds were reinvested in shorter duration securities and cash, with the goal of improving interest rate risk profile and liquidity.

The dividend payout ratio for the second quarter of 2024 was 85%, indicating a continued commitment to returning capital to shareholders through dividends.

The 10-Q does not contain specific information about ESG initiatives, but the company does have a commitment to corporate responsibility practices, oversight, and disclosures.

Truist continues to invest in community development investments, which may be considered as part of their social responsibility initiatives.

The 10-Q does not contain specific information about sustainability risks or opportunities.

The company's results are impacted by the current interest rate environment, with higher funding costs and lower earning assets affecting net interest income.

The overall economic forecast incorporates a third-party baseline forecast that is adjusted to reflect Truist's interest rate outlook. Management also considers optimistic and pessimistic third-party macro-economic forecasts in order to capture uncertainty in the economic environment.

Truist is subject to significant regulatory frameworks that affect its operations, and the company continues to monitor and adapt to changes in these regulations.