XML 31 R20.htm IDEA: XBRL DOCUMENT
v3.26.1

Fair Value Disclosures | 6 Months Ended
--- | ---
Jun. 30, 2026
Fair Value Disclosures [Abstract] |
Fair Value Disclosures | Fair Value Disclosures Recurring Fair Value Measurements Accounting standards define fair value as the price that would be received on the measurement date to sell an asset or the price paid to transfer a liability in the principal or most advantageous market available to the entity in an orderly transaction between market participants, with a three-level measurement hierarchy: •Level 1: Quoted prices for identical instruments in active markets; •Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets; and •Level 3: Valuations derived from valuation techniques in which one or more significant inputs are unobservable. The following tables present fair value information for assets and liabilities measured at fair value on a recurring basis:
June 30, 2026 (Dollars in millions) |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Netting Adjustments(1)
Assets: |  |  |  |  |  |  |  |  |  |
Trading assets: |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 119 |  |  | $ | — |  |  | $ | 119 |  |  | $ | — |  |  | $ | — |
GSE |  | 37 |  |  | — |  |  | 37 |  |  | — |  |  | — |
States and political subdivisions |  | 265 |  |  | — |  |  | 265 |  |  | — |  |  | — |
Corporate and other debt securities |  | 1,792 |  |  | — |  |  | 1,792 |  |  | — |  |  | — |
Loans |  | 1,931 |  |  | — |  |  | 1,931 |  |  | — |  |  | — |
Equity securities |  | 1,144 |  |  | 1,144 |  |  | — |  |  | — |  |  | — |
Total trading assets |  | 5,288 |  |  | 1,144 |  |  | 4,144 |  |  | — |  |  | — |
AFS securities: |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | 13,313 |  |  | — |  |  | 13,313 |  |  | — |  |  | — |
GSE |  | 436 |  |  | — |  |  | 436 |  |  | — |  |  | — |
Agency MBS – residential |  | 49,152 |  |  | — |  |  | 49,152 |  |  | — |  |  | — |
Agency MBS – commercial |  | 3,126 |  |  | — |  |  | 3,126 |  |  | — |  |  | — |
States and political subdivisions |  | 341 |  |  | — |  |  | 341 |  |  | — |  |  | — |
Collateralized loan obligations |  | 1,279 |  |  | — |  |  | 1,279 |  |  | — |  |  | — |
Other |  | 4 |  |  | — |  |  | 4 |  |  | — |  |  | — |
Total AFS securities |  | 67,651 |  |  | — |  |  | 67,651 |  |  | — |  |  | — |
LHFS |  | 2,198 |  |  | — |  |  | 2,198 |  |  | — |  |  | — |
Loans and leases |  | 10 |  |  | — |  |  | — |  |  | 10 |  |  | — |
Loan servicing rights at fair value |  | 4,293 |  |  | — |  |  | — |  |  | 4,293 |  |  | — |
Other assets: |  |  |  |  |  |  |  |  |  |
Derivative assets |  | 1,455 |  |  | 1,579 |  |  | 2,060 |  |  | 5 |  |  | (2,189) |
Equity securities |  | 378 |  |  | 301 |  |  | 77 |  |  | — |  |  | — |
Other |  | 8 |  |  | — |  |  | 8 |  |  | — |  |  | — |
Total assets |  | $ | 81,281 |  |  | $ | 3,024 |  |  | $ | 76,138 |  |  | $ | 4,308 |  |  | $ | (2,189) |
Liabilities: |  |  |  |  |  |  |  |  |  |
Interest-bearing deposits: |  |  |  |  |  |  |  |  |  |
Brokered time deposits |  | $ | 688 |  |  | $ | — |  |  | $ | 688 |  |  | $ | — |  |  | $ | — |
Short-term borrowings: |  |  |  |  |  |  |  |  |  |
Securities sold short |  | 2,979 |  |  | 1,502 |  |  | 1,477 |  |  | — |  |  | — |
Other trading liabilities |  | 142 |  |  | — |  |  | 142 |  |  | — |  |  | — |
Other liabilities: |  |  |  |  |  |  |  |  |  |
Derivative Liabilities |  | 2,228 |  |  | 836 |  |  | 4,472 |  |  | 23 |  |  | (3,103) |
Total liabilities |  | $ | 6,037 |  |  | $ | 2,338 |  |  | $ | 6,779 |  |  | $ | 23 |  |  | $ | (3,103) |
December 31, 2025 (Dollars in millions) |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Netting Adjustments(1)
Assets: |  |  |  |  |  |  |  |  |  |
Trading assets: |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 244 |  |  | $ | — |  |  | $ | 244 |  |  | $ | — |  |  | $ | — |
GSE |  | 42 |  |  | — |  |  | 42 |  |  | — |  |  | — |
States and political subdivisions |  | 301 |  |  | — |  |  | 301 |  |  | — |  |  | — |
Corporate and other debt securities |  | 1,970 |  |  | — |  |  | 1,970 |  |  | — |  |  | — |
Loans |  | 2,168 |  |  | — |  |  | 2,168 |  |  | — |  |  | — |
Equity securities |  | 1,065 |  |  | 1,065 |  |  | — |  |  | — |  |  | — |
Total trading assets |  | 5,790 |  |  | 1,065 |  |  | 4,725 |  |  | — |  |  | — |
AFS securities: |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | 12,792 |  |  | — |  |  | 12,792 |  |  | — |  |  | — |
GSE |  | 460 |  |  | — |  |  | 460 |  |  | — |  |  | — |
Agency MBS – residential |  | 48,226 |  |  | — |  |  | 48,226 |  |  | — |  |  | — |
Agency MBS – commercial |  | 3,200 |  |  | — |  |  | 3,200 |  |  | — |  |  | — |
States and political subdivisions |  | 350 |  |  | — |  |  | 350 |  |  | — |  |  | — |
Other |  | 14 |  |  | — |  |  | 14 |  |  | — |  |  | — |
Total AFS securities |  | 65,042 |  |  | — |  |  | 65,042 |  |  | — |  |  | — |
LHFS |  | 1,622 |  |  | — |  |  | 1,622 |  |  | — |  |  | — |
Loans and leases |  | 11 |  |  | — |  |  | — |  |  | 11 |  |  | — |
Loan servicing rights at fair value |  | 3,972 |  |  | — |  |  | — |  |  | 3,972 |  |  | — |
Other assets: |  |  |  |  |  |  |  |  |  |
Derivative assets |  | 1,343 |  |  | 1,157 |  |  | 1,961 |  |  | 4 |  |  | (1,779) |
Equity securities |  | 382 |  |  | 293 |  |  | 89 |  |  | — |  |  | — |
Total assets |  | $ | 78,162 |  |  | $ | 2,515 |  |  | $ | 73,439 |  |  | $ | 3,987 |  |  | $ | (1,779) |
Liabilities: |  |  |  |  |  |  |  |  |  |
Interest-bearing deposits: |  |  |  |  |  |  |  |  |  |
Brokered time deposits |  | $ | 639 |  |  | $ | — |  |  | $ | 639 |  |  | $ | — |  |  | $ | — |
Short-term borrowings: |  |  |  |  |  |  |  |  |  |
Securities sold short |  | 2,185 |  |  | 652 |  |  | 1,533 |  |  | — |  |  | — |
Other trading liabilities |  | 209 |  |  | — |  |  | 209 |  |  | — |  |  | — |
Other liabilities: |  |  |  |  |  |  |  |  |  |
Derivative liabilities |  | 1,797 |  |  | 623 |  |  | 3,959 |  |  | 33 |  |  | (2,818) |
Total liabilities |  | $ | 4,830 |  |  | $ | 1,275 |  |  | $ | 6,340 |  |  | $ | 33 |  |  | $ | (2,818) |
(1)Refer to “Note 14. Derivative Financial Instruments” for additional discussion on netting adjustments. At June 30, 2026 and December 31, 2025, investments totaling $715 million and $622 million, respectively, have been excluded from the tables above as they are valued based on net asset value as a practical expedient. These investments primarily consist of certain SBIC funds. For additional information on the valuation techniques and significant inputs for Level 2 and Level 3 assets and liabilities that are measured at fair value on a recurring basis, see “Note 18. Fair Value Disclosures” in Truist’s Annual Report on Form 10-K for the year ended December 31, 2025. Activity for Level 3 assets and liabilities is summarized below:
(Dollars in millions) |  | Loans and Leases |  | Loan Servicing Rights |  | Net Derivatives
Balance at April 1, 2025 |  | $ | 12 |  |  | $ | 3,628 |  |  | $ | (33) |
Total realized and unrealized gains (losses): |  |  |  |  |  |
Included in earnings |  | — |  |  | 27 |  |  | 2 |
Issuances |  | — |  |  | 54 |  |  | 13 |
Settlements |  | — |  |  | (97) |  |  | (2) |
Balance at June 30, 2025 |  | 12 |  |  | 3,612 |  |  | (20) |
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2025 |  | $ | — |  |  | $ | 27 |  |  | $ | 4 |
Balance at April 1, 2026 |  | $ | 10 |  |  | $ | 4,112 |  |  | $ | (35) |
Total realized and unrealized gains (losses): |  |  |  |  |  |
Included in earnings |  | — |  |  | 35 |  |  | 2 |
Purchases |  | — |  |  | 144 |  |  | — |
Issuances |  | — |  |  | 116 |  |  | — |
Settlements |  | — |  |  | (114) |  |  | 15 |
Balance at June 30, 2026 |  | 10 |  |  | 4,293 |  |  | (18) |
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2026 |  | $ | — |  |  | $ | 35 |  |  | $ | 11 |
(Dollars in millions) |  | Loans and Leases |  | Loan Servicing Rights |  | Net Derivatives
Balance at January 1, 2025 |  | $ | 13 |  |  | $ | 3,708 |  |  | $ | (41) |
Total realized and unrealized gains (losses): |  |  |  |  |  |
Included in earnings |  | — |  |  | (29) |  |  | 8 |
Issuances |  | — |  |  | 111 |  |  | 17 |
Settlements |  | (1) |  |  | (178) |  |  | (4) |
Balance at June 30, 2025 |  | $ | 12 |  |  | $ | 3,612 |  |  | $ | (20) |
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2025 |  | $ | — |  |  | $ | (29) |  |  | $ | 1 |
Balance at January 1, 2026 |  | $ | 11 |  |  | $ | 3,972 |  |  | $ | (29) |
Total realized and unrealized gains (losses): |  |  |  |  |  |
Included in earnings |  | — |  |  | 51 |  |  | 3 |
Purchases |  | — |  |  | 275 |  |  | — |
Issuances |  | — |  |  | 209 |  |  | (17) |
Settlements |  | (1) |  |  | (214) |  |  | 25 |
Balance at June 30, 2026 |  | $ | 10 |  |  | $ | 4,293 |  |  | $ | (18) |
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2026 |  | $ | — |  |  | $ | 51 |  |  | $ | — |
Primary income statement location of realized gains (losses) included in earnings |  | Other income |  | Mortgage banking income |  | Mortgage banking income and other income
Fair Value Option The following table details the fair value and UPB of certain loans and time deposits that were elected to be measured at fair value:
|  | June 30, 2026 |  | December 31, 2025
(Dollars in millions) |  | Fair Value |  | UPB |  | Difference |  | Fair Value |  | UPB |  | Difference
Trading loans |  | $ | 1,931 |  |  | $ | 1,995 |  |  | $ | (64) |  |  | $ | 2,168 |  |  | $ | 2,230 |  |  | $ | (62) |
LHFS |  | 2,198 |  |  | 2,173 |  |  | 25 |  |  | 1,622 |  |  | 1,592 |  |  | 30 |
Loans and leases |  | 10 |  |  | 11 |  |  | (1) |  |  | 11 |  |  | 12 |  |  | (1) |
Brokered time deposits |  | 688 |  |  | 697 |  |  | (9) |  |  | 639 |  |  | 642 |  |  | (3) |
Nonrecurring Fair Value Measurements The following table provides information about certain assets measured at fair value on a nonrecurring basis held as of period end with valuation adjustments recorded during the period. The carrying values represent end of period values, which approximate the fair value.
(Dollars in millions) | Fair Value Hierarchy |  | Jun 30, 2026 |  | Dec 31, 2025
Carrying value: |  |  |  |  |
LHFS | Level 3 |  | $ | 204 |  |  | $ | 4 |
Loans and leases(1) | Level 3 |  | 297 |  |  | 468 |
Other | Level 3 |  | 46 |  |  | 65 |
(1)Total loans and leases measured at fair value on a nonrecurring basis still held as of period end were $516 million and $599 million at June 30, 2026 and December 31, 2025, respectively. The following table provides information about valuation adjustments for certain assets measured at fair value on a nonrecurring basis. The valuation adjustments represent the amounts recorded during the period regardless of whether the asset is still held at period end.
| Six Months Ended June 30, |  |
(Dollars in millions) | 2026 |  | 2025 |  |
Valuation adjustments: |  |  |  |  |
LHFS | $ | (58) |  |  | $ | (68) |  |  |
Loans and leases | (444) |  |  | (420) |  |  |
Other | (113) |  |  | (148) |  |  |
LHFS with valuation adjustments in the table above consist primarily of residential mortgages and commercial loans that are valued using market prices and measured at LOCOM. Loans and leases consist of larger commercial loans and leases that are collateral-dependent and other secured loans and leases that have been charged-off to the fair value of the collateral. Valuation adjustments for loans and leases are primarily recorded in the Provision for credit losses in the Consolidated Statements of Income. Refer to “Note 1. Basis of Presentation” in Truist’s Annual Report on Form 10-K for the year ended December 31, 2025 for additional discussion of individually evaluated loans and leases. Other includes foreclosed real estate, other foreclosed property, partnership investments, premises and equipment, OREO, and held for sale operating leases, and consists primarily of residential homes, commercial properties, vacant lots, and automobiles, as applicable. Partnership investments are measured by discounting expected future cash flows. The remaining assets are measured at LOCOM, less costs to sell. Financial Instruments Not Recorded at Fair Value For financial instruments not recorded at fair value, estimates of fair value are based on relevant market data and information about the instruments. Values obtained relate to trading without regard to any premium or discount that may result from concentrations of ownership, possible tax ramifications, estimated transaction costs that may result from bulk sales, or the relationship between various instruments. An active market does not exist for certain financial instruments. Fair value estimates for these instruments are based on current economic conditions and interest rate risk characteristics, loss experience, and other factors. Many of these estimates involve uncertainties and matters of significant judgment and cannot be determined with precision. Therefore, the fair value estimates in many instances cannot be substantiated by comparison to independent markets. In addition, changes in assumptions could significantly affect these fair value estimates. Financial assets and liabilities not recorded at fair value are summarized below:
|  | June 30, 2026 |  | December 31, 2025
(Dollars in millions) | Fair Value Hierarchy |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Financial assets: |  |  |  |  |  |  |  |  |
HTM securities | Level 2 |  | $ | 46,351 |  |  | $ | 38,145 |  |  | $ | 47,186 |  |  | $ | 39,130 |
Loans and leases, net of ALLL | Level 3 |  | 324,803 |  |  | 320,888 |  |  | 323,554 |  |  | 320,018 |
Financial liabilities: |  |  |  |  |  |  |  |  |
Time deposits | Level 2 |  | 40,241 |  |  | 40,064 |  |  | 37,793 |  |  | 37,723 |
Long-term debt | Level 2 |  | 42,976 |  |  | 43,400 |  |  | 41,963 |  |  | 42,451 |
The carrying value of the RUFC, which approximates the fair value, was $333 million and $317 million at June 30, 2026 and December 31, 2025, respectively. Cash and due from banks, interest-bearing deposits with banks, securities borrowed or purchased under agreements to resell, and short-term borrowings are reflected in the Consolidated Balance Sheets at cost, which approximates the fair value due to the short-term nature of these instruments and their limited inherent credit risk.

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 107 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-107 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2E -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 940 -SubTopic 820 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478119/940-820-50-1 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration