Truist Financial Corporation - TFC STOCK NEWS

Truist Financial Corporation (NYSE: TFC) partners with EVERFI to provide the WORD Force Universe, a free digital literacy program for K-2 students across the U.S. Following a pilot that reached over 17,000 students, the program supports educational equity, particularly for low- to moderate-income communities. It features interactive content to enhance reading skills. The initiative aims to close literacy gaps and foster reading proficiency, crucial for future success. Launching in September, families and community organizations can access the program at no cost.

Truist Financial Corporation (NYSE: TFC) announced a new executive leadership structure effective September 1, 2021. William H. Rogers Jr. will succeed Kelly S. King as CEO on September 12, 2021, with King transitioning to executive chairman until March 12, 2022. Rogers brings experience from his eight-year tenure as CEO of SunTrust. The announcement includes the new leadership team, aiming to enhance client-centered digital strategies and fulfill Truist's potential in serving communities. The company boasts total assets of $522 billion as of June 30, 2021.

Truist (NYSE:TFC) announced the retirement of Chris Henson, head of banking and insurance, effective September 30, 2021, after over 36 years with the company. Henson's leadership has been pivotal in shaping Truist's direction and success, especially following the merger of BB&T and SunTrust. His roles have included President of BB&T and Chief Operating Officer since 2009. Truist, headquartered in Charlotte, N.C., is a top 10 U.S. commercial bank with total assets of $522 billion as of June 30, 2021.

Truist Financial Corporation (NYSE: TFC) announced the appointment of Fadie "Freddy" Itayem as corporate treasurer, effective Sept. 3, 2021. He will oversee corporate treasury activities including balance sheet management and liquidity risk. Itayem succeeds Donna Goodrich, who is retiring after over 35 years. Previously, Itayem was the assistant treasurer and CFO for Truist's Consumer and Wealth businesses. The company, headquartered in Charlotte, NC, reported total assets of $522 billion as of June 30, 2021.

Truist Financial Corporation (NYSE: TFC) announced the acquisition of Service Finance Company, LLC for $2 billion. This move enhances Truist's point-of-sale (POS) financing capabilities in the home improvement sector, expanding its existing services that include Sheffield Financial. Service Finance provides financing solutions to over 14,000 home improvement dealers, with projected loan originations exceeding $2.5 billion in 2021. The acquisition aims to strengthen Truist's market position, prospective profitability, and client service, with an expected close by late 2021, pending regulatory approvals.

Truist Financial Corporation (NYSE: TFC) announced the success of its Truist Momentum program, aiding over 300 companies since 2014 with financial education initiatives. Participants have received over $21.5 million and demonstrated improved financial confidence—98% opened emergency savings accounts post-program. The program addresses decreased financial literacy, with 72% of Americans feeling money stress. Truist, a member of Financial Literacy for All, is committed to enhancing financial literacy through various initiatives, including partnerships and dedicated resources for employees and communities.

On July 27, 2021, Truist Financial Corporation (TFC) declared a quarterly cash dividend of $0.48 per common share, payable on September 1, 2021. Shareholders must be on record by August 13, 2021. The company also announced dividends for several series of preferred stock, with amounts ranging from $0.25556 to $1,022.22222 per share, set for payment on September 15, 2021. This demonstrates Truist's commitment to returning value to shareholders amidst its operations as one of the top 10 commercial banks in the U.S.

Truist Financial Corporation (NYSE: TFC) announced the redemption of its $500 million senior notes with a 3.200% interest rate, due on September 3, 2021. The redemption will occur on August 3, 2021, at 100% of the principal amount, plus any accrued interest until the redemption date. Interest will cease on the redemption date. This move is part of Truist's financial strategy and demonstrates its commitment to managing its debt effectively.

Truist Financial Corporation (NYSE: TFC) has announced the schedule for its 2022 quarterly earnings conference calls. The calls will take place on the following dates: Fourth quarter on January 18, 2022; First quarter on April 19, 2022; Second quarter on July 19, 2022; and Third quarter on October 18, 2022. Access information for these calls will be shared closer to the respective dates. As of June 30, 2021, Truist's total assets stood at $522 billion.