Truist provides 2023 supplemental financials with TIH as discontinued ops; sale expected Q2 2024

TRUIST FINANCIAL CORP

Q4 2023 net loss from continuing ops of $5,191M, largely due to $6,078M goodwill impairment
Discontinued ops (TIH) contributed net income of $101M in Q4 2023; full-year discontinued net income $456M
Sale of remaining TIH equity to investors led by Stone Point, CD&R, Mubadala expected to close in Q2 2024
Supplemental historical balance sheet as of Dec 31, 2023: total assets $535.3B, deposits $395.9B, loans $312.1B
Prior-period financials are not restated; an 8-K recasting full-year 2023 will follow Q1 2024 10-Q

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