Truist Financial Corporation - TFC STOCK NEWS

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.

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.