During this morning's call, they will discuss Truist's Q2 2026 results, share their perspectives on current business conditions, and provide an update on our outlook for 2026. The company presentation, as well as our earnings release and supplemental financial information, are available on the Truist Investor Relations website, ir.truist.com. Mike's an accomplished and respected financial services leader with a proven ability to drive growth, improve performance, and create long-term shareholder value. Over the last several quarters, we've been clear about the actions we're taking to drive stronger returns, improve efficiency, and allocate capital to the highest value opportunities across the company.
While some of these choices may create near-term trade-offs in individual growth metrics, they're producing the outcomes we intended and are driving stronger profitability and improved financial performance. Importantly, these results demonstrate that we're making meaningful progress in building a more earnings-efficient and more capital-efficient growth company. For the Q2, we delivered net income available to common shareholders of $1.5 billion, or $1.23 per diluted share, representing a 37% increase over the Q2 of 2025. During the quarter, we added new clients, deepened existing relationships, and grew profitably in the businesses and products where we've chosen to focus.
Along with our expense discipline, this contributed to more than 300 basis points of year-over-year positive operating leverage. In addition, combined with disciplined capital deployment, our return on tangible common equity improved 310 basis points year-over-year to 15.4%. These results reinforce that we remain on track to deliver our full-year profitability and return objectives and provide confidence in our ability to sustain this level of performance over time. Average non-maturity consumer and small business deposits increased 2% versus the Q2, driven by a 39% increase in new to bank deposit production.
| Metric | Period | Current guidance |
|---|---|---|
| Full-year net interest income growth | FY2026 | ~+1% to +1.5% |
| Full-year ROTCE | FY2026 | greater than 14% |
| Full-year fee income growth | FY2026 | ~10% year-over-year |
| Full-year loan growth | FY2026 | high side of +3% to +4% (mostly C&I; consumer roughly flat to +1%) |
| Full-year deposit growth | FY2026 | ~3% (low single digits), with unfavorable mix |
| Full-year loan spreads | FY2026 | down 5-10 bps year-over-year |
| Full-year share repurchases | FY2026 | ~$5 billion (total net payout ratio above 100%) |
| CET1 target | by end-2027 | ~10% (glide path implying continued significant capital return) |
| Metric | YoY | Note |
|---|---|---|
| EPS | $1.23 (+37% YoY, +13% QoQ) | Strong non-interest income growth and expense discipline driving profitability. |
| ROTCE | 15.4% (+310 bps) | Improved profitability plus disciplined capital deployment and balance-sheet optimization. |
| Total revenue | +5.5% (+2.2% QoQ) | Primarily higher non-interest income from investment banking, trading and wealth management. |
| Net interest income (TE) | +0.6% QoQ | One extra day and higher earning assets, partly offset by lower loan spreads. |
| Net interest margin | 2.98% (-4 bps QoQ) | Higher deposit costs, lower loan spreads, larger balance sheet and swaps coming on. |
| Average loans held for investment | $329B (+0.7% QoQ; commercial +1.3%) | Commercial growth partly offset by declining consumer loans as low-return portfolios run off. |
| Investment banking and trading revenue | +72% | Stronger client activity, improved deal economics and capital-markets momentum. |
| Net charge-offs | 50 bps (-11 bps QoQ) | Lower losses across most portfolios; provision of $395M modestly below $414M of charge-offs. |
| CET1 ratio | 10.9% (+10 bps QoQ) | Strong capital generation and RWA-density benefits despite returning 100%+ of earnings. |
| Topic | Previous mention | Current period | Trend |
|---|---|---|---|
| Balance-sheet / portfolio optimization | De-emphasizing low-return portfolios | Accelerated exits and run-downs: discontinued marine/RV origination (~$4B book) and sharply reduced prime/non-prime auto (~$25B combined), cutting ~40% (~$7-8B) of annual production; completed two CLNs on ~half of an $11B prime-auto reference pool to improve ROTCE; reallocating capital toward C&I and high-grade wholesale credits. | — |
| Returns-over-growth strategy | Improving profitability and capital efficiency | Deliberate trade-offs across individual growth metrics to drive stronger ROTCE (>14% for 2026) and positive operating leverage; management stresses it is 'setting the table' for higher-return incremental growth, not conceding long-term growth. | — |
| CEO succession | Bill Rogers as Chairman and CEO | Mike Lyons becomes President and CEO September 1; Rogers moves to executive chair until his planned April retirement; the board sought a growth-oriented leader with deep payments and technology expertise (ex-PNC, ex-Fiserv) to accelerate the high-performance journey; deep succession bench emphasized. | — |
| Net interest income headwinds | Higher NII outlook | NII guidance cut to +1-1.5% on three headwinds ranked by impact: unfavorable deposit mix (largest), loan-spread compression (down 5-10 bps YoY), and reduced consumer production volume, partially offset by higher medium/long-term rates aiding fixed-asset repricing. | — |
| Deposit dynamics | Healthy deposit activity | Low-single-digit (~3%) deposit growth with mix pressured by client rate-seeking behavior (more client-driven than competitive); interest-bearing deposit beta eased to 45%, total beta to 30%; strong relationship-based, payments-oriented production. | — |
| Fee-income and wholesale strength | Building capital-efficient wholesale | Fee income outpacing balance-sheet growth; ~10% full-year fee growth expected; investment banking/trading +72%, wealth management +8%, advisory +27% YTD; deeper client relationships lifting revenue per client and non-credit revenue share. | — |
| Digital & AI | Digital growth engine | 5.4M active mobile users (+4%), 85% of logins via mobile, Truist Assist engagements up 60% to ~2M; AI increasingly contributing to productivity, client experience and capacity that can be reinvested. | — |
| Capital return | — | ~$5B buyback and 100%+ net payout deemed appropriate given capital position; glide path to ~10% CET1 by end-2027 implies continued significant capital return, with profitable growth the first priority for capital. | — |