Truist Financial Corporation (NYSE:TFC) Q2 2024 Earnings Conference Call July 22, 2024 8:00 PM ET

Company Participants

Brad Milsaps - Investor Relations
William Rogers - Chairman and Chief Executive Officer
Mike Maguire - Chief Financial Officer
Clarke Starnes - Vice Chair and Chief Risk Officer

Conference Call Participants

Ryan Nash - Goldman Sachs
Ken Usdin - Jefferies
Scott Siefers - Piper Sandler
Erika Najarian - UBS
Betsy Graseck - Morgan Stanley
John Pancari - Evercore ISI
Mike Mayo - Wells Fargo Securities
Ebrahim Poonawala - Bank of America
Matt O'Connor - Deutsche Bank

Operator

Greetings, ladies and gentlemen, and welcome to the Truist Financial Corporation Second Quarter 2024 Earnings Conference 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. Brad Milsaps.

Brad Milsaps

Thank you, Betsy, and good morning, everyone. Welcome to Truist's Second Quarter 2024 Earnings Call. With us today are our Chairman and CEO, Bill Rogers; our CFO, Mike Maguire; our Vice-Chair and Chief Risk Officer, Clarke Starnes, as well as other members of Truist's senior management team. During this morning's call, they will discuss Truist's second quarter results, share their perspectives on current business conditions, and provide an updated outlook for 2024. 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 will now turn it over to Bill.

William Rogers

Thanks, Brad, and good morning, everyone, and thank you for joining our call today. So before we discuss our second-quarter results, let's begin with purpose on Slide 4. As you all know, Truist is a purpose-driven company dedicated to inspiring and building better lives and communities. Purpose is the foundation for things that we do. We believe purpose and performance are inextricably late.

I'd like to share some of the ways we brought our purpose to life last quarter. During the quarter, Truist Securities advised and served as an active joint book-runner for Oglethorpe Power's inaugural $350 million green bond, which will be used to support their investment in Plant Vogtle, the largest producer of clean energy in the United States. The company is committed to reducing GHG emissions while delivering cost-effective and reliable clean energy with a diverse energy portfolio. This transaction represents only the second green-labeled bond in the US where the use of proceeds are allocated to nuclear energy.