Full Transcript: Truist Finl Q2 2026 Earnings Call

On Friday, Truist Finl (NYSE: TFC ) discussed second-quarter financial results during its earnings call.

The full transcript is provided below.

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For comprehensive financial data and transcripts, visit Access the full call at Watch the full earnings call below: Summary Truist Financial reported a strong quarter with GAAP net income of $1.5 billion, or $1.23 per share, a 37% increase year-over-year.

Revenue grew by 5.5% from the previous year, driven by higher noninterest income from investment banking, trading, and wealth management.

The company is optimizing its loan portfolio, focusing on high-quality commercial loans and reducing less profitable consumer lending, impacting near-term net interest income.

Average wholesale deposits increased by 6%, with significant growth in middle market deposits, particularly in expansion markets.

Truist's CET1 ratio rose to 10.9%, and $1.2 billion of common stock was repurchased in the quarter.

The company is targeting a ROTCE of greater than 14% for 2026, with long-term targets of 16-18%, and remains committed to strategic investments and capital efficiency.

Future guidance includes a revenue growth expectation of 3.5% to 4% for 2026, with continued noninterest income momentum offsetting lower net interest income growth.

Full Transcript Bill Rogers, Chairman and CEO Digital client experience.

Taken together, these results demonstrate our strategy to improve profitability, strengthen returns, and allocate capital towards the highest value opportunities across consumer and small business banking.

Now turning to wholesale on slide 7, in wholesale we also delivered another strong quarter with continued momentum across loans, deposits, and fees while maintaining a disciplined focus on relationship returns and capital efficiency.

Over the past year, we've significantly expanded our client base and strengthened existing relationships across the wholesale franchise, driving broader adoption of our lending, deposit payments, wealth management, and capital markets capabilities.

This deeper engagement is translating into higher revenue per client, a more attractive revenue mix, and improved relationship profitability driven by an increasing share of revenue coming from non-credit sources.

Average wholesale deposits increased 6%, excluding the impact of certain large M&A-related deposits in the second quarter of last year, driven by broad-based deposit growth across client segments heavily tied to our focus on driving payments and liquidity solutions.

Middle market deposits, an area where we're invested heavily, grew 12% year over year, driven by 9% growth in our legacy markets and 27% growth in expansion markets such as Texas, Pennsylvania, and Ohio.

Average wholesale loans increased 8% compared with the second quarter of 2025, reflecting broad-based momentum across our industry, banking, middle market, and commercial real estate teams.

As we continue to prioritize high-quality relationship-driven growth, wholesale fee income continues to outpace balance sheet growth led by investment banking and trading and wealth management, reflecting strong client activity and improved deal economics and continued momentum in our wealth franchise.

Advisory revenue increased 27% year to date, including strong growth across equity, capital markets, M&A advisory, and financial risk management.

Overall, we remain encouraged by the breadth of growth across the franchise and the continued progress in building a more profitable and capital-efficient wholesale business.

With that, let me turn it over to Mike to discuss our financial results in more detail.

Michael Maguire, Chief Financial Officer Thank you, Bill, and good morning, everyone.

So as Bill mentioned, we reported second quarter 2026 GAAP net income available to common shareholders of $1.5 billion or $1.23 per diluted share.

Earnings per share increased 37% versus the second quarter of 2025 and 13% versus the first quarter of 2026.

Revenue increased 2.2% linked quarter due primarily to higher noninterest income.

Revenue increased by 5.5% versus the second quarter of 2025 due primarily to higher noninterest income led by growth in investment banking and trading and wealth management income.

GAAP noninterest expense increased 2.4% versus the first quarter of 2026 primarily due to higher personnel expense and professional and outside processing expenses.

Noninterest expense increased 2.3% versus the second quarter of 2025, which helped drive 320 basis points of year-over-year positive operating leverage.

Asset quality metrics remain strong and our CET1 ratio increased by 10 basis points linked quarter to 10.9%.

Next, I'll cover loans and leases on slide 9.

Average loans held for investment increased $2.1 billion or 0.7% linked quarter to $329 billion driven by 1.3% growth in average commercial loans partially offset by a decline in average consumer loans.

End of period loans increased modestly linked quarter reflecting slight growth in both commercial and consumer.

As a reminder, we expected 2026 loan growth to be driven primarily by commercial and other consumer categories, with slower loan growth in residential, mortgage, and indirect auto.

Moving to deposit trends on slide average deposits increased 1.5% linked quarter driven by growth in all deposit categories while year-over-year growth was 1.1% driven primarily by growth in interest checking.

We continue to see healthy client deposit activity, however, deposit mix trends are being pressured by elevated rate-seeking behavior and migration into higher rate products.