Truist Financial Corporation (NYSE:TFC) Q3 2023 Earnings Conference Call October 18, 2023 8:00 AM ET

Company Participants

Brad Milsaps - Head of IR

Bill Rogers - Chairman and CEO

Mike Maguire - CFO

Clarke Starnes - Vice Chair and CRO

Conference Call Participants

Ken Usdin - Jefferies

John McDonald - Autonomous Research

Ebrahim Poonawala - Bank of America

Erika Najarian - UBS

John Pancari - Evercore ISI

Mike Mayo - Wells Fargo Securities

Matt O'Connor - Deutsche Bank

Gerard Cassidy - RBC Capital Markets

Ryan Kenny - Morgan Stanley

Operator

Greetings, ladies and gentlemen, and welcome to the Truist Financial Corporation Third Quarter 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this event is being recorded.

It is now my pleasure to introduce your host, Mr. Brad Milsaps.

Brad Milsaps

Thank you, Anthony, and good morning, everyone. Welcome to Truist third quarter 2023 earnings call. With us today are our Chairman and CEO, Bill Rogers; and our CFO, Mike Maguire.

During this morning's call, they will discuss Truist's third quarter results, share their perspectives on current business conditions and provide an updated outlook for 2023. Clarke Starnes, our Vice Chair and Chief Risk Officer; Beau Cummins, our Vice Chair; and John Howard, Truist Insurance Holdings' Chairman and CEO, are also in attendance and available to participate in the Q&A portion of our call.

The accompanying presentation as well as our earnings release and supplemental financial information are available on the Truist Investor Relations website ir.truist.com. Our presentation today will include forward-looking statements and certain non-GAAP financial measures. Please review the disclosures on slides 2 and 3 of the presentation regarding these statements and measures as well as the appendix for appropriate reconciliations to GAAP.

With that, I'll turn it over to Bill.

Bill Rogers

Thanks, Brad, and good morning, everyone, and thank you for joining our call today.

Now, before we get into the third quarter results, let's begin as always with our purpose on Slide 4. As we all know, Truist is a purpose-driven company committed to inspiring and building better lives and communities.

I'd like to take a few minutes just to highlight some of the ways we demonstrated our purpose last quarter. Truist is driving positive change by supporting organizations that promote the growth and vibrancy of our communities. In August, we invested $17 million to support affordable housing in Charlotte and career development and economic mobility programs across the state of North Carolina.