Form 8-K · Current report
Truist Financial 8-K, filed Sep 15, 2026
- Filed
- CIK
- 0000092230
- Accession no.
- 0000092230-26-000105
Summary
Truist Financial entered an agreement to sell $5.5 billion of auto loans representing substantially all assets of Regional Acceptance Corporation, with closing anticipated in late 3Q26 or early 4Q26; it estimated $5.2 billion of net proceeds, a $535 million loan loss reserve recapture, and $945 million of CET1 capital creation. CFO Mike Maguire will speak at the Barclays Global Financial Services Conference on September 15, 2026.
Key points
- Truist said RAC pre-tax earnings were approximately breakeven through the six months ended June 30, 2026, and that 3Q26 and 2026 outlooks are unchanged excluding strategic actions.
- Truist expects the transaction to reduce nonperforming loans by more than 10 bps as of June 30, 2026, and net charge-offs by about 10 bps annually.
- Truist said it will repay wholesale borrowings with proceeds from the loan sale and reposition certain AFS securities to offset capital created from the RAC sale.
- Truist maintained its 2026 share repurchase target at $5 billion.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 7.01Regulation FD Disclosure
- 9.01Financial Statements and Exhibits
From the filing
ITEM 7.01 Regulation FD Disclosure. Mike Maguire, Chief Financial Officer of Truist Financial Corporation (“Truist”), will speak at the Barclays Global Financial Services Conference in New York City on Tuesday, September 15, 2026 at 10:30 a.m. ET. In connection with Mr. Maguire’s presentation, Truist is disclosing information about a recently signed transaction related to its strategic decision to exit the near-prime auto lending business and the potential financial impacts and illustrative uses of proceeds from the transaction, which information is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein. …
An excerpt of the text as filed with the SEC, cut for length.
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