Truist Financial Corporation - TFC STOCK NEWS

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.

Truist Financial Corporation (NYSE: TFC) has announced the redemption of all $1 billion in 2.750% senior notes and $350 million in floating rate senior notes, both maturing on April 1, 2022. The redemption will occur on March 1, 2022, at 100% of the principal amount plus accrued interest. Following the redemption date, interest will cease to accrue. This strategic move aligns with Truist's broader financial management and aims to enhance its capital structure.

Truist Foundation launched the Inspire Awards, a pitch competition aimed at nonprofits assisting BIPOC and women-owned small businesses affected by COVID-19. In partnership with MIT Solve, this initiative seeks innovative solutions to enhance the resilience of these businesses. Nonprofits can apply until May 13, 2022, with a chance to participate in a support program and pitch event. The winner of the competition will receive a $250,000 award while runners-up will also gain cash prizes. This effort reflects Truist Foundation's commitment to fostering economic mobility and supporting excluded communities.

Truist Financial Corporation (NYSE: TFC) announced the redemption of its $300,000,000 subordinated notes with a 3.95% interest rate, due March 22, 2022. The redemption will occur on February 22, 2022, at 100% of the principal amount plus accrued interest. Following the redemption date, interest on these notes will cease. Truist, headquartered in Charlotte, NC, is a major financial services company with $541 billion in total assets as of December 31, 2021.

Truist Insurance Holdings has entered into a definitive agreement to acquire Kensington Vanguard National Land Services, expanding its footprint in the title insurance market. The integration of Kensington Vanguard, a leading independent title insurance agency, will enhance Truist's existing title operations through BridgeTrust Title. The CEO highlighted Kensington's growth strategy and expertise, which will enable them to provide comprehensive title and real estate services across the U.S. The transaction is expected to close in the first quarter, although sale terms remain undisclosed.

United Way Worldwide has launched the bilingual MyFreeTaxes™ program, making tax filing available in both English and Spanish. Since 2009, MyFreeTaxes has aided over 1.3 million taxpayers, resulting in nearly $2 billion in refunds. This initiative, supported by the Truist Foundation, aims to enhance financial stability accessibility. Key features include live assistance, eligibility screening for credits, and support for those earning up to $73,000. The program addresses the growing need for tax preparation in diverse communities.

Truist Financial Corporation (NYSE: TFC) aims for net zero greenhouse gas emissions by 2050, enhancing its commitment to a low-carbon economy. The company plans to reduce its Scope 1 and 2 emissions through energy efficiency projects and will focus on measuring and enhancing Scope 3 emissions. Key initiatives include calculating financed emissions, setting interim targets, and increasing investment in low-carbon technologies. Truist will report its progress in upcoming CSR and ESG Reports.