What is the financial condition of Truist Bank?
Truist Financial has total assets of $535.3B and total equity of $59.3B.
Fitch Downgrades Truist Financial to 'A'/Stable on Sale of Insurance Holdings. Fitch Ratings - New York - 21 Feb 2024: Fitch Ratings has downgraded Truist Financial Corporation's (TFC) and Truist Bank's Long-Term Issuer Default Rating (IDR) to 'A' from 'A+' following the announced sale of Truist Insurance Holdings.
Headquartered in Charlotte, North Carolina, Truist is a top-10 commercial bank with total assets of $535 billion as of December 31, 2023.
Truist is FDIC insured. You'll be able to deposit up to $250,000 in an individual bank account and your money will be secure.
Due to its high-quality deposits, Truist's immediate risk of a "bank run" or "contagion" appear generally low under normal assumptions.
| Rank by Asset Size | Bank Name | Total Assets |
|---|---|---|
| 7. | Goldman Sachs Bank | $538.13 billion |
| 8. | Truist Bank | $535 billion |
| 9. | Capital One | $468.78 billion |
| 10. | TD Bank | $366.25 billion |
| Bank | Forbes Advisor Rating | Products |
|---|---|---|
| Chase Bank | 5.0 | Checking, Savings, CDs |
| Bank of America | 4.2 | Checking, Savings, CDs |
| Wells Fargo Bank | 4.0 | Savings, checking, money market accounts, CDs |
| Citi® | 4.0 | Checking, savings, CDs |
Headquartered in Charlotte, North Carolina, Truist is a top-10 commercial bank with total assets of $535 billion as of Dec. 31, 2023. Truist Bank, Member FDIC. Learn more at Truist.com.
Truist shares have languished this year as the regional banking crisis, rising interest rates, and threats of a recession have all weighed on the stock. Additionally, the recent Fed stress test ranked the bank near the bottom of the pack, though it was still strong enough to survive a crash scenario.
Those are debits and credits that haven't yet posted. Each time you use your debit card, a pending transaction will instantly be reflected in your available balance, giving you an up-to-date picture of your overall spending.
Why is Truist Bank under review?
As noted, the review reflects Truist's capital, asset liability and funding challenges in the context of its high ratings. In particular, Moody's will assess management's plans and its timeline for further improving the firm's capitalization, as well as the cost to do so.
| RANK | BANK NAME | TOTAL ASSETS |
|---|---|---|
| 8 | Truist Bank | $535 billion |
| 9 | Capital One Financial | $468.8 billion |
| 10 | TD Group US Holdings | $366.3 billion |
| 11 | Bank of New York Mellon | $328.5 billion |
- First Republic Bank (FRC) . Above average liquidity risk and high capital risk.
- Huntington Bancshares (HBAN) . Above average capital risk.
- KeyCorp (KEY) . Above average capital risk.
- Comerica (CMA) . ...
- Truist Financial (TFC) . ...
- Cullen/Frost Bankers (CFR) . ...
- Zions Bancorporation (ZION) .
2024 in Brief
There are no bank failures in 2024. See detailed descriptions below. For more bank failure information on a specific year, select a date from the drop down menu to the right or select a month within the graph.
- Associated Banc Corp.
- Comerica Inc.
- KeyCorp.
- UMB Financial Corp.
- Valley National Bancorp.
| Rank | Bank name | Total assets (billions of US$) |
|---|---|---|
| 1 | JPMorgan Chase | $3,898 |
| 2 | Bank of America | $3,153 |
| 3 | Citigroup | $2,368 |
| 4 | Wells Fargo | $1,909 |
Truist was founded in 2019 when BB&T merged with SunTrust Banks, which was the biggest bank deal since the financial crisis of 2007. The merged company officially became known as Truist Financial Corporation.
Truist Financial Corporation – $534.19 Billion
Truist is the bank formed by Branch Banking and Trust Company (BB&T) and SunTrust at the end of 2019. According to the Federal Reserve's 2019 figures, BB&T and SunTrust were ranked 11th and 12th in bank assets, respectively.
- JPMORGAN CHASE. Member FDIC.
- U.S. BANK. U.S. Bank, also referred to as U.S. Bancorp, is a large bank based in Minneapolis, Minnesota, and currently stands as the fifth-largest banking institution in the U.S. ...
- PNC BANK. ...
- CITIBANK. ...
- WELLS FARGO. ...
- CAPITAL ONE. ...
- M&T BANK CORPORATION. ...
- AGRIBANK.
What is the least secure bank in the US?
- Wells Fargo. Wells Fargo is the worst bank overall, with a high percentage of unresolved complaints and loss of Better Business Bureau accreditation.
- Citibank. ...
- Bank of America.
- JP Morgan Private Bank. “J.P. Morgan Private Bank is known for its investment services, which makes them a great option for those with millionaire status,” Kullberg said. ...
- Bank of America Private Bank. ...
- Citi Private Bank. ...
- Chase Private Client.
- The Truist One Savings account offers a rock-bottom APY.
- A $3 monthly fee applies for paper statements for the Truist One Savings account.
- The account isn't tiered.
- There's a $5 fee for each withdrawal above the monthly limit.
It is on the list of largest banks in the United States by assets; as of August 2023, it is the 9th largest bank with $514 billion in assets. As of January 2021, Truist Insurance Holdings is the seventh largest insurance broker in the world, with $2.27 billion in annual revenue. U.S.
Your total deposits at Truist that are in the same ownership rights and capacity will be insured up to $250,000.00. If you have more than $250,000.00 in total deposits at the combined banks, you may call the FDIC directly at 877.275. 3342 for more information about how your funds may be insured at Truist.
