Why it matters
- Truist reported third-quarter net income available to common shareholders of $680 million, or $0.56 a diluted share, on Friday, Oct. 16, down from $1.04 a share a year earlier, after a $1.4 billion pre-tax loss on selling securities, the bank said.
- Excluding that loss and other items, Truist said it earned $1.16 a share, up 12% from a year earlier. It also agreed on Oct. 14 to sell $7.7 billion of LightStream unsecured consumer loans to Carlyle.
- Truist shares traded at about $47.02 at 8:52 a.m. ET, up about 1.0% from Thursday's close of $46.57, according to Yahoo Finance data.
Truist Financial said Friday, Oct. 16, that its third-quarter profit fell to $0.56 a diluted share from $1.04 a year earlier, after the bank took a $1.4 billion pre-tax loss on selling securities as part of a balance-sheet overhaul. Excluding that loss and other items, Truist said it earned $1.16 a share, up 12%.
Truist shares traded at about $47.02 in premarket trading at 8:52 a.m. ET, up about 1.0% from Thursday's close of $46.57, according to Yahoo Finance data.
Why did Truist's profit fall?
The drop came mostly from items Truist excludes from its adjusted results. Truist sold available-for-sale securities at a loss of $1.4 billion before taxes, or $0.90 a share, after completing the sale of its Regional Acceptance Corp. (RAC) loans, the bank said in its earnings release. The RAC sale cost another $106 million, or $0.06 a share, while a $581 million release of loan loss reserves added $0.36 a share.
Those moves pushed total revenue down to $3.75 billion from $5.19 billion a year earlier. Net interest income rose to $3.66 billion from $3.63 billion, and the net interest margin was 3.00% on a taxable-equivalent basis.
Truist Q3 2026 results at a glance
| Measure | 3Q 2026 | 2Q 2026 | 3Q 2025 |
|---|---|---|---|
| Diluted EPS (GAAP) | $0.56 | $1.23 | $1.04 |
| Adjusted diluted EPS | $1.16 | $1.23 | $1.04 |
| Total revenue | $3.75 billion | $5.27 billion | $5.19 billion |
| Net interest income | $3.66 billion | $3.62 billion | $3.63 billion |
| Net income | $0.80 billion | $1.55 billion | $1.45 billion |
| CET1 capital ratio | 10.7% | 10.9% | 11.0% |
Source: Truist third-quarter 2026 earnings release. Adjusted EPS is a non-GAAP measure.
What is Truist selling to Carlyle?
Truist said it signed an agreement on Oct. 14 to sell $7.7 billion of unsecured consumer loans to Carlyle Group. The loans make up substantially all the assets of LightStream, Truist's unsecured lending platform. Chief Executive Mike Lyons said the bank is "simplifying the company" and focusing resources on its strongest businesses.
Truist repurchased $1.2 billion of its stock in the quarter. End-of-period deposits rose 0.9% from June to $413.2 billion, and loans held for investment fell $5.9 billion to $323.9 billion, mostly because of the RAC sale.
Who is joining Truist's leadership?
In a separate release Friday, Truist named D. Steve Boland, a former Bank of America chief administrative officer, as vice chair. Shimna Sameer will become chief consumer banking officer, and Jeff Warner joins from PNC as chief small business banking officer. Dontá Wilson, chief consumer and small business banking officer, will leave the bank effective Dec. 31, according to a Truist filing with the Securities and Exchange Commission.
Other big banks reported this week. Bank of America took a $1.2 billion charge; see Bank of America Q3 Profit Falls to $0.91 a Share on $1.2B Charge. Wells Fargo shares fell after a revenue miss; see Wells Fargo Stock Falls After Q3 Revenue Misses Estimates.
For more earnings coverage, see our companies section.
Sources
- Truist Financial, Truist reports third quarter 2026 results (Exhibit 99.1 to Form 8-K, Oct. 16, 2026)
- Truist Financial, Form 8-K on executive departure, Oct. 16, 2026
- Truist Financial, Truist announces leadership appointments (Exhibit 99.1, Oct. 16, 2026)
- Yahoo Finance, chart data for Truist Financial (TFC)
