Truist Financial Corporation (NYSE:TFC) Q4 2023 Earnings Conference Call January 18, 2024 8:00 AM ET

Company Participants

Brad Milsaps - Head of Investor Relations

Bill Rogers - Chairman and Chief Executive Officer

Mike Maguire - Chief Financial Officer

Clarke Starnes - Vice Chair and Chief Risk Officer

Conference Call Participants

John McDonald - Autonomous Research

Scott Siefers - Piper Sandler

Mike Mayo - Wells Fargo Securities

Elyse Greenspan - Wells Fargo Securities

Ken Usdin - Jefferies

Erika Najarian - UBS

Ebrahim Poonawala - Bank of America

Matt O'Connor - Deutsche Bank

Gerard Cassidy - RBC Capital Markets

Manan Gosalia - Morgan Stanley

Operator

Greetings, ladies and gentlemen, and welcome to the Truist Financial Corporation Fourth Quarter 2023 Earnings Conference Call. Currently, all participants are in 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. Brad Milsaps.

Brad Milsaps

Thank you, Rocco, and good morning, everyone. Welcome to Truist's fourth 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 fourth quarter results, share their perspectives on current business conditions, and provide an updated outlook for 2024. Clarke Starnes, our Vice Chair and Chief Risk Officer; Beau Cummins, our Vice Chair and Chief Operating Officer; Donta Wilson, Chief Consumer and Small Business Banking Officer; 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 these disclosures on slides two and three 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, everybody, and thank you for joining our call today. Before we discuss our fourth quarter results, let's begin with our purpose on slide four. As you know, Truist is a purpose-driven company committed to inspiring and building better lives in communities. I'd like to take just a few moments to highlight some of the ways we demonstrated our purpose during 2023. Through Truist Community Capital, we committed nearly $2.1 billion to support more than 15,000 units of affordable housing. This helped create more than 15,000 jobs and serve more than 130,000 people in low and modern income communities this year. Also, our teammates impacted 5,300 organizations and causes through their charitable giving and more than 62,000 hours of volunteer service.