Truist Financial Corporation (TFC) Q1 2023 Earnings Call Transcript

Truist Financial Corporation (NYSE:TFC) Q1 2023 Earnings Conference Call April 20, 2023 8:00 AM ET

Company Participants

Ankur Vyas - Head, IR

Bill Rogers - Chairman & CEO

Mike Maguire - CFO

Clarke Starnes - Vice Chair & Chief Risk Officer

John Howard - Chief Insurance Officer

Conference Call Participants

Ken Usdin - Jefferies

Blake Netter - Morgan Stanley

John Pancari - Evercore ISI

Mike Mayo - Wells Fargo Securities

Erika Najarian - UBS

Gerard Cassidy - RBC

John McDonald - Autonomous Research

Operator

Greetings, ladies and gentlemen, and welcome to the Truist Financial Corporation's First Quarter Call. Currently, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder, this event is being recorded.

It is now my pleasure to introduce your host, Mr. Ankur Vyas, Head of Investor Relations, Truist Financial Corporation.

Ankur Vyas

Thank you, Allay, and good morning, everyone. Welcome to Truist's first 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 first quarter results, share their perspectives on current business conditions and recent events, and provide an outlook -- updated outlook for 2023.

Clarke Starnes, our Vice Chair and Chief Risk Officer; Beau Cummins, our Vice Chair; John Howard, Truist Insurance Holdings' Chairman and CEO are also in attendance and are 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 now turn the call over to Bill.

Bill Rogers

Thanks, Ankur, and good morning, everybody, and thank you for joining our call. I know you have a busy day ahead of you. The first quarter of 2023 was certainly an unusual and maybe even possibly an historic one for our banking industry. I am really extremely proud of our more than 50,000 teammates who leaned into our purpose and continue to care for our clients and stakeholders, reassuring them of Truist's position of strength and commitment to serve them.