Results at a glance
- Period
- FY2026Q3
- Revenue
- $3.7B (3,747 MUSD)
- Net income
- $684M (684 MUSD)
- Net margin
- 18.3%
From the Truist Open LedgerView the live ledgerIssuer filing (FY2026Q3)
Truist Financial (NYSE: TFC), the Charlotte super-regional, reported third-quarter 2026 GAAP earnings of just \$0.56 per diluted share — and adjusted EPS of \$1.16, up 12% year over year. The \$0.60 gap is the whole quarter: a \$1.4 billion pre-tax (\$0.90 per share) loss repositioning the securities book, partly offset by a \$581 million reserve recapture (\$0.36 per share) on the completed Regional Acceptance Corporation loan sale. Strip both and the underlying bank is humming: adjusted revenue of \$5.3 billion was stable, net interest income grew 1.1% with margin up two basis points to 3.00%, expenses were flat excluding \$40 million of deal costs, and adjusted ROTCE hit 14.6%.
The balance sheet tells you what management is doing. End-of-period loans fell \$5.9 billion — \$5.5 billion of it the RAC exit — while deposits grew \$3.9 billion to \$413.2 billion. AFS securities dropped \$6.1 billion in the quarter as low-yield paper was sold at a loss and reinvested higher. And on October 14, two weeks after quarter-end, Truist signed to sell \$7.7 billion of LightStream unsecured consumer loans — substantially the entire platform — to Carlyle. This is a bank deliberately shrinking out of subscale consumer lending to fund its core franchise. Asset quality improved on the RAC exit: nonperforming loans fell 11 basis points to 0.40%, though the headline charge-off ratio of 0.77% includes 39 basis points of RAC cleanup.
The Headline Numbers
| Metric | Q3 2026 | Q2 2026 | Q3 2025 |
|---|---|---|---|
| Total revenue | \$3,747M | \$5,265M | \$5,187M |
| Net interest income | \$3,663M | \$3,621M | \$3,629M |
| Noninterest income | \$84M | \$1,644M | \$1,558M |
| Provision (benefit) | \$(253)M | \$395M | \$436M |
| Noninterest expense | \$3,105M | \$3,055M | \$3,014M |
| Net income to common | \$684M | \$1,519M | \$1,348M |
| GAAP diluted EPS | \$0.56 | \$1.23 | \$1.04 |
| Adjusted diluted EPS | \$1.16 | \$1.23 | \$1.04 |
| NIM (TE) | 3.00% | 2.98% | 3.01% |
| CET1 ratio | 10.7% | 10.9% | 11.0% |
Noninterest income of \$84 million — down from \$1.6 billion — is where the \$1.4 billion securities loss lives, partly offset by record quarterly wealth management income. CET1 of 10.7% absorbed both the loss and continued capital return; book value per share dipped to \$46.78 while tangible book held at \$31.90.
Four years in the ledger: the TIH era ends, the core bank emerges
The ledger runs FY2022–FY2025 plus this quarter — four annuals, not five, because no filing presents FY2021 on the post–TIH-sale continuing-operations basis, and mixing bases would corrupt every trend. The arc is dramatic: 2023's \$1,452 million loss to common (a \$6,078 million goodwill impairment), 2024's \$4,469 million profit (flattered by the \$4,885 million TIH-sale gain in discontinued operations), and 2025's clean \$4,974 million. Every annual income statement and balance sheet, plus this quarter's condensed statements, is modeled as examinable Beancount below.
