Recent Updates — TFC
Truist Financial Corporation announced executive leadership changes, appointing D. Steve Boland as vice chair to advance the bank's strategic agenda and Shimna Sameer as chief consumer banking officer. Jeff Warner joins as chief small business banking officer. Dontá L. Wilson, senior executive vice president and chief consumer and small business banking officer, will leave the company effective December 31, 2026, under an involuntary separation agreement. Truist operates in the diversified financial services industry, providing banking, wealth management, and insurance products to consumers and businesses.
Truist Financial Corporation reported third-quarter 2026 results with diluted earnings per share of $0.56 and adjusted diluted EPS of $1.16, up 12% from the prior year period. The quarter included a $1.4 billion pre-tax loss on available-for-sale securities repositioning and costs associated with the Regional Acceptance Corporation loan sale. Truist also signed an agreement to sell approximately $7.7 billion of unsecured consumer loans comprising its LightStream platform to Carlyle Group Inc., expected to generate $7.2 billion in net proceeds and create roughly 20 basis points of CET1 capital. The company returned $1.8 billion to shareholders through dividends and share repurchases, while maintaining a preliminary CET1 ratio of 10.7%. Truist Financial Corporation is a major U.S. financial services provider offering commercial banking, wealth management, and consumer lending products.
Truist Financial Corporation announced an agreement to sell approximately $5.5 billion of near-prime auto loans, representing substantially all assets of Regional Acceptance Corporation (RAC). The transaction is expected to close in late third quarter or early fourth quarter 2026. The sale will generate $5.2 billion in net proceeds and a $535 million loan loss reserve recapture, creating approximately $945 million or 22 basis points of CET1 capital. Truist plans to use the proceeds to repay wholesale borrowings and reposition available-for-sale securities to offset the capital increase. The company stated that its third quarter 2026 and full-year 2026 outlook remain unchanged excluding this strategic action, while anticipating modest earnings accretion in 2027. Truist Financial Corporation operates as a diversified financial services holding company providing banking, wealth management, and insurance products.
William H. Rogers, Jr. will retire as CEO and President of Truist Financial Corporation and Truist Bank effective September 1, 2026, transitioning to Executive Chair through the 2027 annual meeting. Michael P. Lyons, formerly of Fiserv, Inc. and PNC Bank, will succeed him as the new CEO and President effective on the Transition Date. The filing describes the following compensation packages for both executives: William H. Rogers, Jr. transition/retirement/Executive Chair role and transition letter terms; Michael P. Lyons new CEO/President role and offer letter terms including a $1,300,000 base salary and $12,000,000 target LTI award for 2026. Truist Financial Corporation is a financial services company providing banking and wealth management services.
Truist Financial Corporation appointed Catherine P. Bessant as a director of the Company and its subsidiary, Truist Bank, effective June 5, 2026. Ms. Bessant will serve on the Joint Risk Committee and receive an annual cash retainer of $110,000 and an annual restricted stock unit grant of $200,000.