The company completed a strategic balance sheet repositioning during the second quarter of 2024, selling $27.7 billion of lower-yielding investment securities and reinvesting proceeds in shorter duration, higher-yielding securities.

The company is focused on driving revenue growth through its core banking business by adding new clients, deepening relationships with existing clients, and investing in technology and risk infrastructure.

The company successfully completed the sale of Sterling Capital Management LLC, an asset management business, in July 2024.

The company is focused on maintaining strong expense discipline, while making substantial investments in teammates, technology, and risk infrastructure.

A new CIO joined the company in October 2024, bringing over 25 years of experience in the financial services industry and leading the enterprise technology team.

The Board refocused the responsibilities of the Technology Committee on technology strategy and operations, and reassigned responsibility for the oversight of technology risk reporting, mitigation strategies, and initiatives to the Risk Committee.

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.

Truist's most significant market risk exposure is to interest rate risk in its balance sheet, and market risk also results from underlying product liquidity risk, price risk, and volatility risk.

The company is subject to numerous legal proceedings and regulatory frameworks that affect its operations, including potential losses from litigation, and heightened scrutiny from supervisory and governmental authorities.

Truist promotes revenue growth through the Company's Integrated Relationship Management approach, which is designed to deepen client relationships and bring the full breadth and depth of Truist's products and services to meet clients' financial needs.

Management focuses on diversifying its sources of revenue to reduce Truist's reliance on traditional spread-based interest income, as certain fee-based activities are a relatively stable revenue source during periods of changing interest rates.

The company faces competition in all its business segments, which could impact its ability to maintain market share and profitability.

The company is focused on maintaining strong expense discipline, while making substantial investments in teammates, technology, and risk infrastructure.

The Company's corporate expense allocation methodology was enhanced to allocate certain overhead or functional expenses based on actual OT&C noninterest expense performance.

Noninterest expense decreased due to lower headcount across most lines of business and lower operational charge-offs, partially offset by higher enterprise operations, marketing, and finance support.

The company expects to continue to make substantial investments in teammates, technology, and risk infrastructure while pursuing its strategic objectives.

A new CIO joined the company in October 2024, bringing over 25 years of experience in the financial services industry and leading the enterprise technology team.

The Board refocused the responsibilities of the Technology Committee on technology strategy and operations, and reassigned responsibility for the oversight of technology risk reporting, mitigation strategies, and initiatives to the Risk Committee.

The company returned $1.2 billion of capital to shareholders through common stock dividends and $500 million of common share repurchases during the third quarter of 2024.

At September 30, 2024, Truist had remaining authorization to repurchase up to $4.5 billion of common stock under the Board approved repurchase plan.

The company announced it will redeem all outstanding shares of its Series L Perpetual Preferred Stock and the corresponding depositary shares for $750 million in December 2024.

The 10-Q filing does not contain specific details on ESG initiatives.

The 10-Q filing does not contain specific details on ESG risks or opportunities.

The 10-Q filing does not contain specific details on ESG governance practices.

Hurricanes Helene and Milton affected teammates and clients in many communities Truist serves. The company is working closely with those impacted by these disasters and are committed to help these communities rebuild.

The company is subject to various regulatory changes, including new rules from the FDIC, CFPB, and FRB, which may impact its operations and financial results.

The company's performance is influenced by evolving political, business, economic, and market conditions, including changes in interest rates, investor sentiment, and consumer behavior.