Welcome to our dedicated page for Truist Financial Corporation news (Ticker: TFC), a resource for investors and traders seeking the latest updates and insights on Truist Financial Corporation stock.
Truist Financial Corporation (NYSE: TFC) is a leading U.S. commercial bank that was formed through the merger of BB&T and SunTrust in 2019. Headquartered in Charlotte, North Carolina, the company is committed to inspiring and building better lives and communities through a comprehensive range of financial services. With a rich history dating back 275 years from its legacy banks, Truist serves approximately 12 million households across high-growth markets in the country.
Truist offers a wide array of services including retail, small business, and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. As the sixth-largest commercial bank in the U.S., Truist is a key player in these sectors.
Recent Achievements and News:
- On March 7, 2024, Truist Securities announced the addition of highly ranked analyst Jamie Cook as a managing director, expanding its equity research coverage in the industrials sector.
- On March 28, 2024, Truist Financial Corporation announced it would report its first-quarter 2024 financial results before the market opens on April 22, 2024.
- On April 4, 2024, the Truist Foundation released its 2023 Impact Report, showcasing its efforts in building career pathways and strengthening small businesses for economic mobility.
- On April 8, 2024, Sheffield Financial, a division of Truist Bank, renewed its long-term retail financing agreement with BRP US Inc., reaffirming their commitment to providing competitive financing options.
- On May 7, 2024, Truist completed the sale of its remaining stake in Truist Insurance Holdings to an investor group led by private equity firms, significantly enhancing its financial profile.
Truist is focused on leveraging technology and innovation, as evidenced by its investment in new technologies and recent strategic partnerships. The company's robust financial condition has enabled it to make significant investments in its core banking businesses and community-driven initiatives.
With an emphasis on collaborative culture and client service, Truist continues to expand its expertise and capabilities, aiming to deliver differentiated content, execution, and value for its clients. For more information, visit Truist.com.
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.
Truist Financial Corporation (NYSE: TFC) has raised its prime lending rate from 3.25% to 3.50%, effective March 17, 2022. This adjustment reflects the company's response to changing economic conditions. Truist, headquartered in Charlotte, North Carolina, holds a significant market presence with total assets amounting to $541 billion as of December 31, 2021. As a leading provider of diverse financial services, Truist aims to enhance the lives of individuals and communities.
Truist Financial Corporation (NYSE: TFC) is set to release its first-quarter 2022 financial results on April 19, 2022, before market opening. CEO William H. Rogers Jr. and CFO Daryl N. Bible will lead a conference call at 8:00 a.m. ET to discuss these results. Investors can access the live audio webcast and related materials at ir.truist.com. Truist, a top 10 U.S. commercial bank with total assets of $541 billion as of December 31, 2021, offers diverse financial services across retail, commercial banking, and wealth management.
According to the 9th Annual LightStream Home Improvement Trends Survey, 73% of homeowners have engaged in home improvement projects since the pandemic began. In 2022, many are focusing on significant renovations for enhanced functionality and emotional satisfaction. Key findings include:
- 39% of homeowners prioritize kitchen remodels, 36% bathrooms.
- 20% plan home additions, up from 12% in 2021.
- 62% feel excited about renovation projects.
However, 43% wish for more knowledge on financing options for these projects, indicating a need for better financial education.
Truist Foundation has announced a $10 million grant to Connect Humanity to promote digital equity for marginalized communities. This funding aims to strengthen efforts in providing financing, tools, and training, thus bridging the digital divide exacerbated by remote work trends. Lynette Bell, president of Truist Foundation, highlighted the ongoing partnership with Connect Humanity to ensure communities gain access to essential broadband technology. The initiative is expected to improve internet connectivity for 5 million underconnected Americans and create around 1,000 jobs in network engineering.
Truist Financial Corporation (NYSE: TFC) announced leadership transitions effective March 12, 2022. William H. "Bill" Rogers Jr. will become chairman of the board, succeeding Kelly S. King, while Thomas E. Skains will take over as lead independent director, succeeding David M. Ratcliffe. Rogers has been CEO since September 2021 and previously served as chairman and CEO of SunTrust Banks. Skains has been on Truist's board since June 2009 and is a retired CEO of Piedmont Natural Gas. Truist, formed from the merger of BB&T and SunTrust, has total assets of $541 billion as of December 31, 2021.
Truist Insurance Holdings, a subsidiary of Truist Financial Corporation (NYSE: TFC), has successfully acquired Kensington Vanguard National Land Services, enhancing its position as a leading insurance broker in the U.S. This acquisition integrates BridgeTrust Title Group into the Kensington Vanguard brand, consolidating operations into one of the largest real estate service agencies nationwide.
A new Insurance Services Division is established, reporting to Todd Wartchow, focusing on delivering diverse value-added services, including premium financing. Leadership transitions are underway to ensure smooth integration.
Truist Financial Corporation (NYSE: TFC) published its 2021 Social Bond Impact Report, highlighting investments from its first social bond issuance of $1.25 billion in March 2021. The report details the allocation of net proceeds, totaling $1.248 billion, to fund 267 affordable housing developments and create 22,000 affordable units across 15 states. The bond was well-received, with oversubscription at 2.7 times, demonstrating strong investor interest in the company's commitment to environmental, social, and governance (ESG) goals.
Truist Financial Corporation (NYSE: TFC) announced CFO Daryl N. Bible will present at the RBC Capital Markets Global Financial Institutions Conference on Mar. 9, 2022, at 9:20 a.m. ET. This virtual event will include a live audio webcast available on the company's investor relations page. A replay will be accessible for 30 days. As of Dec. 31, 2021, Truist has total assets of $541 billion and is a top 10 U.S. commercial bank, focusing on a wide array of financial services aimed at enhancing lives and communities.
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