Truist Financial Corporation - TFC STOCK NEWS

Truist Financial (NYSE: TFC) has announced the appointment of Steve Hagerman as its new chief information officer, effective Oct. 28, 2024. Hagerman, who will be based at Truist headquarters in Charlotte, will lead the enterprise technology team and shape the bank's technology strategy. His responsibilities will include overseeing key areas such as data and analytics, AI, information security, and technology transformation.

Hagerman brings over 25 years of experience in the financial services industry, most recently serving as CIO for consumer technology, chief technology officer, and head of consumer lending technology at Wells Fargo. He has also held senior leadership positions at JPMorgan Chase and served in the United States Marine Corps. Truist Chairman & CEO Bill Rogers expressed confidence in Hagerman's ability to drive growth and performance through technology innovation.

Houlihan Lokey (NYSE:HLI) has agreed to acquire Waller Helms Advisors, an independent advisory firm specializing in insurance and wealth management sectors. The acquisition, expected to complete by December 31, 2024, will double the size of Houlihan Lokey's Financial Services Group. Waller Helms, founded in 2014, has advised on over 230 transactions worth more than $40 billion. The deal will add nearly 50 financial professionals, including 13 Managing Directors, to Houlihan Lokey's team. James Anderson, CEO of Waller Helms, will join as Global Co-Head of the Financial Services Group. The combined entity will rank as the No. 1 advisor for global M&A transactions in 2023 in the insurance, asset management, and financial services sectors (excluding depositories).

Truist Foundation has announced an additional $100,000 grant to support relief and recovery efforts in South Carolina and North Carolina communities impacted by storm Debby. This is on top of a previously announced $100,000 grant for Florida and Georgia. The funds will be distributed to the Center for Disaster Philanthropy's Atlantic Hurricane Season Recovery Fund and the American Red Cross.

The grants aim to address immediate needs such as food, shelter, and medical services, as well as medium- and long-term recovery efforts. Earlier this year, Truist Foundation also donated $1 million to the American Red Cross Annual Disaster Giving Program to provide quick assistance to communities affected by disasters like storm Debby.

Truist Financial (NYSE: TFC) has been named the title sponsor of the PGA TOUR's Charlotte-based Signature Event, now called the Truist Championship. The seven-year agreement was announced on August 6, 2024. Quail Hollow Club will continue to be the primary host, except in 2025 when the event will be held at The Philadelphia Cricket Club due to Quail Hollow hosting the PGA Championship. The tournament is one of eight Signature Events on the PGA TOUR schedule, featuring top players and offering 700 FedExCup points to the winner. It has raised over $30 million for charitable organizations throughout its history.

Truist Foundation has announced a $100,000 donation to support relief and recovery efforts in Southeastern communities impacted by Hurricane Debby. The funds will be distributed to the Center for Disaster Philanthropy's Atlantic Hurricane Season Recovery Fund, the American Red Cross, and United Way Worldwide. These organizations will use the grant to address critical immediate needs such as food, shelter, and medical services, as well as medium- and long-term recovery efforts.

Earlier this year, Truist Foundation also donated $1 million to the American Red Cross Annual Disaster Giving Program to provide quick assistance to communities affected by disasters like Debby. The foundation's proactive approach aims to support communities before, during, and after natural disasters, aligning with Truist's purpose of inspiring and building better lives and communities.

Truist Foundation has announced a $100,000 donation to support relief and recovery efforts in Southeastern communities impacted by Tropical Storm Debby. The funds will be distributed to the Center for Disaster Philanthropy's Atlantic Hurricane Season Recovery Fund, the American Red Cross, and United Way Worldwide. These organizations will use the grant to address critical immediate needs such as food, shelter, and medical services, as well as medium- and long-term recovery efforts.

Earlier this year, Truist Foundation also donated $1 million to the American Red Cross Annual Disaster Giving Program to provide quick assistance to communities affected by events like Tropical Storm Debby. Truist Foundation, established in 2020, focuses on building career pathways to economic mobility and strengthening small businesses to promote equal opportunities for all communities.

The Council for Adult and Experiential Learning (CAEL) has announced the expansion of the Build Better Careers program in South Florida, aimed at helping residents without college degrees access high-growth jobs in banking and financial services. Funded by the Truist Foundation's Where it Starts Initiative, the program seeks to connect job seekers to higher-wage jobs and long-term career opportunities in the industry.

The initiative will collaborate with local partners, including CareerSource South Florida and OIC of South Florida, to identify, recruit, and upskill high-potential working adults. Over the next three years, CAEL and its partners will work to connect traditionally underserved populations with career paths in financial services, insurance, and adjacent industries. The program also aims to address barriers such as food and housing insecurity that have historically prevented qualified individuals from accessing these careers.

AppBrilliance, a pioneer in real-time payment solutions, is leveraging a recent rule change by The Clearing House to expand Real Time Payments (RTP) to closed-loop digital wallets in the US. The company's Money API™ platform enables payment processors, retailers, and merchants to reduce costs and boost customer loyalty by integrating real-time payments over RTP and FedNow network rails.

Key benefits include:

• Drastically reduced payment processing costs
• Enhanced customer loyalty with seamless payment experiences
• Reduced fraud and chargebacks
• Increased sales through reduced friction at point-of-sale and online

AppBrilliance is partnering with leading payment processors, digital wallet platforms, and banks to bring scalable, real-time payment solutions to market and power the next generation of payment applications.

Truist Financial (NYSE: TFC) has declared its regular quarterly cash dividend of $0.52 per common share, payable on September 3, 2024, to shareholders of record as of August 9, 2024. The Board also announced dividends for various series of preferred stock, with payment dates primarily in September. Truist, a leading U.S. commercial bank with $520 billion in total assets as of June 30, 2024, continues to demonstrate its commitment to shareholder returns through these dividend declarations.