The company said it reported a GAAP net loss of $5.2 billion ($3.85 per share) for Q4 2023, and that adjusted net income was $1.1 billion ($0.81 per share).

1. 01

   The company said it reported a GAAP net loss of $5.2 billion ($3.85 per share) for Q4 2023, and that adjusted net income was $1.1 billion ($0.81 per share).

2. 02

   Truist said its Q4 net loss included a non-cash goodwill impairment of $6.1 billion and an FDIC special assessment of $507 million. The company said the goodwill impairment has no impact on liquidity or regulatory capital ratios.

3. 03

   Truist said noninterest expense for Q4 rose $6.5 billion from the prior quarter. It said adjusted noninterest expense, which excludes goodwill impairment and other items, fell $160 million, or 4.5%, and cited lower personnel expense as the main factor.

4. 04

   Truist said its CET1 ratio for December 31, 2023 was 10.1%, up 20 basis points from the end of the prior quarter. The company cited organic capital generation and RWA optimization as the drivers of the increase, and said it did not repurchase any shares in Q4.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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