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)		TotalLevel 1Level 2Level 3
Netting Adjustments(1)
Assets:
Trading assets:
U.S. Treasury$119 $— $119 $— $— 
GSE37 — 37 — — 
States and political subdivisions265 — 265 — — 
Corporate and other debt securities1,792 — 1,792 — — 
Loans1,931 — 1,931 — — 
Equity securities1,144 1,144 — — — 
Total trading assets5,288 1,144 4,144 — — 
AFS securities:
U.S. Treasury13,313 — 13,313 — — 
GSE436 — 436 — — 
Agency MBS – residential49,152 — 49,152 — — 
Agency MBS – commercial3,126 — 3,126 — — 
States and political subdivisions341 — 341 — — 
Collateralized loan obligations1,279 — 1,279 — — 
Other4 — 4 — — 
Total AFS securities67,651 — 67,651 — — 
LHFS2,198 — 2,198 — — 
Loans and leases10 — — 10 — 
Loan servicing rights at fair value4,293 — — 4,293 — 
Other assets:
Derivative assets1,455 1,579 2,060 5 (2,189)
Equity securities378 301 77 — — 
Other8 — 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 short2,979 1,502 1,477 — — 
Other trading liabilities142 — 142 — — 
Other liabilities:
Derivative Liabilities2,228 836 4,472 23 (3,103)
Total liabilities$6,037 $2,338 $6,779 $23 $(3,103)
December 31, 2025
(Dollars in millions)		TotalLevel 1Level 2Level 3
Netting Adjustments(1)
Assets:
Trading assets:
U.S. Treasury$244 $— $244 $— $— 
GSE42 — 42 — — 
States and political subdivisions301 — 301 — — 
Corporate and other debt securities1,970 — 1,970 — — 
Loans2,168 — 2,168 — — 
Equity securities1,065 1,065 — — — 
Total trading assets5,790 1,065 4,725 — — 
AFS securities:
U.S. Treasury12,792 — 12,792 — — 
GSE460 — 460 — — 
Agency MBS – residential48,226 — 48,226 — — 
Agency MBS – commercial3,200 — 3,200 — — 
States and political subdivisions350 — 350 — — 
Other14 — 14 — — 
Total AFS securities65,042 — 65,042 — — 
LHFS1,622 — 1,622 — — 
Loans and leases11 — — 11 — 
Loan servicing rights at fair value3,972 — — 3,972 — 
Other assets:
Derivative assets1,343 1,157 1,961 4 (1,779)
Equity securities382 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 short2,185 652 1,533 — — 
Other trading liabilities209 — 209 — — 
Other liabilities:
Derivative liabilities1,797 623 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 LeasesLoan Servicing RightsNet Derivatives
Balance at April 1, 2025$12 $3,628 $(33)
Total realized and unrealized gains (losses):
Included in earnings— 27 2 
Issuances— 54 13 
Settlements— (97)(2)
Balance at June 30, 202512 3,612 (20)
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2025$— $27 $4 
Balance at April 1, 2026$10 $4,112 $(35)
Total realized and unrealized gains (losses):
Included in earnings— 35 2 
Purchases— 144 — 
Issuances— 116 — 
Settlements— (114)15 
Balance at June 30, 202610 4,293 (18)
Change in unrealized gains (losses) included in earnings for the period, attributable to assets and liabilities still held at June 30, 2026$— $35 $11 
(Dollars in millions)Loans and LeasesLoan Servicing RightsNet 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 earningsOther incomeMortgage banking incomeMortgage 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, 2026December 31, 2025
(Dollars in millions)Fair ValueUPBDifferenceFair ValueUPBDifference
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 leases10 11 (1)11 12 (1)
Brokered time deposits688 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 HierarchyJun 30, 2026Dec 31, 2025
Carrying value:
LHFSLevel 3$204 $4 
Loans and leases(1)
Level 3297 468 
OtherLevel 346 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)20262025
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, 2026December 31, 2025
(Dollars in millions)Fair Value HierarchyCarrying AmountFair ValueCarrying AmountFair Value
Financial assets:
HTM securitiesLevel 2$46,351 $38,145 $47,186 $39,130 
Loans and leases, net of ALLLLevel 3324,803 320,888 323,554 320,018 
Financial liabilities:
Time depositsLevel 240,241 40,064 37,793 37,723 
Long-term debtLevel 242,976 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.