Truist Financial Corporation (TFC) Q3 2025 Financial Results Summary
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Truist (TFC) Q3 2025 Financial Results Summary
Truist Financial Corporation released its financial results for the third quarter of 2025 on October 20, 2025.
Key Financial Data Highlights
- Net Income Available to Common Shareholders: $1.35 billion, or $1.04 per diluted share, representing a -1.3% increase from $1.34 billion in Q3 2024.
- Net Interest Income:
- Total: $3.63 billion (up 0.8% from $3.60 billion in Q3 2024).
- Taxable Equivalent (TE): $3.68 billion (up 0.6% from $3.66 billion in Q3 2024).
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Net Interest Margin (NIM – TE): 3.01%, down 11 basis points from 3.12% in Q3 2024.
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Noninterest Income: Increased by 11% or $158 million to $1.56 billion, driven primarily by higher investment banking and trading income.
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Total Revenue: $5.19 billion, an increase of 2% from $5.09 billion in Q3 2024.
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Noninterest Expense: Increased by 3%, or $87 million, to $3.01 billion compared to Q3 2024.
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Average Loans Held for Investment (HFI): $320.5 billion, up 2.5% from $312.6 billion in Q2 2025. Total loans and leases HFI at the end of the quarter were $323.7 billion, an increase of 1.6% year-over-year.
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Average Deposits: $396.6 billion, reflecting a decrease of 1.0% from $400.5 billion in Q2 2025.
Performance Metrics
- Diluted EPS: $1.04, up 5.1% compared to $0.99 in Q3 2024.
- Book Value Per Share (BVPS): $46.70, an increase of 5.1% from $44.46 in Q3 2024.
- Return on Common Equity (ROCE): 9.0%, down from 9.1% in Q3 2024.
- Tier 1 Capital Ratio (CET1): Maintained at 11.0%, flat from the previous quarter and down from 11.6% in Q3 2024.
Asset Quality
- Total Nonperforming Loans: $1.63 billion, an increase from $1.52 billion in Q3 2024.
- Nonperforming Loans to Total Loans HFI: 0.48%, unchanged from the previous year.
- Loans 90 Days or More Past Due: Increased by one basis point to 0.18% from Q3 2024.
Capital Management
- Share Buyback Program: Repurchased $500 million in common shares during the quarter.
- Dividends Declared: Common dividend of $0.52 per share, giving a total payout ratio of 50% and a combined dividend and share repurchase payout ratio of 87%.
Other Notable Highlights
- Fee Income: Grew significantly, notably in:
- Investment banking and trading: Increased 57.6% from Q2 2025.
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Wealth management income: Rose by 7.5% from Q2 2025.
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Efficiency Ratio: Improved to 55.7% (adjusted), compared to 55.2% in Q3 2024.
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Personnel Expenses: Increased by 4.4% from Q2 2025 due to higher incentives and investments in talent.
Summary
Truist’s Q3 2025 results indicate continued strong performance in revenue generation with significant growth in noninterest income driven by investment banking. Although there was a slight decrease in net interest margins and average deposits, the company maintained solid asset quality with stable capital ratios. The execution of share repurchase and consistent dividend payouts reflect Truist’s commitment to returning capital to shareholders while ensuring robust balance sheet management.
Income Statement (Summary Income Statement in billions)
| 3Q25 | 2Q25 | 3Q24 | |
|---|---|---|---|
| Net interest income | $ 3.63 | $ 3.59 | $ 3.60 |
| Net interest income – TE(1) | 3.68 | 3.64 | 3.66 |
| Noninterest income | 1.56 | 1.40 | 1.48 |
| Total revenue | 5.19 | 4.99 | 5.09 |
| Total revenue – TE(1) | 5.24 | 5.04 | 5.14 |
| Noninterest expense | 3.01 | 2.99 | 2.93 |
| Net income | 1.45 | 1.24 | 1.44 |
| Net income available to common shareholders | 1.35 | 1.18 | 1.34 |
| Adjusted net income available to common shareholders(1) | 1.35 | 1.19 | 1.31 |
| PPNR – unadjusted(1)(2) | 2.22 | 2.05 | 2.21 |
| PPNR – adjusted(1)(2) | 2.25 | 2.10 | 2.22 |
| Diluted EPS | $ 1.04 | $ 0.90 | $ 0.99 |
| Adjusted diluted EPS(1) | 1.04 | 0.91 | 0.97 |
| BVPS | 46.70 | 45.70 | 44.46 |
| TBVPS(1) | 32.57 | 31.63 | 30.64 |
| ROCE | 9.0 % | 8.1 % | 9.1 % |
| ROTCE(1) | 13.6 | 12.3 | 13.8 |
| Efficiency ratio – unadjusted(2) | 58.1 | 59.9 | 57.5 |
| Efficiency ratio – adjusted(1)(2) | 55.7 | 57.1 | 55.2 |
| Fee income ratio – unadjusted(2) | 30.0 | 28.1 | 29.2 |
| Fee income ratio – adjusted(1)(2) | 29.7 | 28.1 | 28.9 |
| NIM – TE(1) | 3.01 | 3.02 | 3.12 |
| NCO ratio | 0.48 | 0.51 | 0.55 |
| ALLL ratio | 1.54 | 1.54 | 1.60 |
| CET1 ratio(3) | 11.0 | 11.0 | 11.6 |
| Assets | $ 542 | $ 537 | $ 519 |
| Securities | 119 | 122 | 117 |
| Loans and leases | 322 | 314 | 305 |
| Deposits | 397 | 400 | 384 |
Balance Sheet (Condensed Consolidated Balance Sheets in millions)
| 3Q25 | 2Q25 | 1Q25 | 4Q24 | 3Q24 | |
|---|---|---|---|---|---|
| Total assets | $ 543,913 | $ 537,780 | $ 532,809 | $ 530,026 | $ 523,456 |
| Cash and due from banks | 15,648 | 14,929 | 14,888 | 15,093 | 15,205 |
| Investment securities | 119,332 | 121,486 | 121,523 | 121,203 | 119,693 |
| Loans and leases | 322,493 | 314,601 | 311,402 | 310,985 | 305,149 |
| Allowance for loan losses | (5,000) | (5,000) | (4,900) | (4,800) | (4,800) |
| Total liabilities | $ 494,814 | $ 493,307 | $ 493,116 | $ 494,000 | $ 492,321 |
| Deposits | 397,528 | 399,308 | 398,719 | 397,453 | 396,420 |
| Short-term debt | 5,115 | 5,120 | 5,695 | 5,618 | 5,740 |
| Long-term debt | 15,792 | 15,935 | 16,020 | 16,182 | 16,640 |
| Shareholders’ equity | $ 49,099 | $ 44,473 | $ 39,537 | $ 36,026 | $ 31,135 |
| Common stock and additional paid-in capital | 23,550 | 22,934 | 21,900 | 20,445 | 19,143 |
| Retained earnings | 24,299 | 22,311 | 19,182 | 18,444 | 16,570 |
| Total liabilities and equity | $ 543,913 | $ 537,780 | $ 532,809 | $ 530,026 | $ 523,456 |