Truist Financial Corp (NYSE:TFC) Q2 2020 Earnings Conference Call - Final Transcript

Jul 16, 2020 • 08:00 am ET


Truist Financial Corp (NYSE:TFC) Q2 2020 Earnings Conference Call - Final Transcript


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Greetings, ladies and gentlemen, and welcome to the Truist Financial Corporation Second Quarter 2020 Earnings Conference. [Operator Instructions] As a reminder, this event is being recorded.

It is now my pleasure to introduce your host, Mr. Ryan Richards, Director of Investor Relations for Truist Financial Corporation. Please go ahead, sir.

Ryan Richards

Thank you, Alan. Good morning, everyone. We appreciate you joining us today.

On today's call are Chairman and Chief Executive Officer, Kelly King, and our Chief Financial Officer, Daryl Bible, will review our second quarter results and provide some thoughts for the third quarter of 2020. We also have Bill Rogers, our President and Chief Operating Officer; Chris Henson, our Head of Banking and Insurance; and Clarke Starnes, our Chief Risk Officer, to participate in Q&A session.

We are conducting our call today from different locations to help protect our executives and teammates. We will reference a slide presentation during today's call. A copy of the presentation, as well as our earnings release and supplemental financial information, are available on the Truist Investor Relations website.

Please note that Truist does not provide public earnings predictions or forecasts. However, there may be statements made during this call that express management's intentions, beliefs or expectations. These statements are subject to inherent risks and uncertainties, and Truist's actual results may differ materially from those contemplated by these forward-looking statements. Please refer to the cautionary notes regarding forward-looking information in our presentation and our SEC filings.

Please also note our presentation includes certain non-GAAP financial measures. Please refer to Page 3 and the appendix of our presentation for the appropriate reconciliations to GAAP.

And now, I will turn it over to Kelly.

Kelly S. King

Thanks, Ryan. Good morning, everybody. Thank you very much for joining our call, and I hope you and your family are safe and well. Given the challenges that we face, I think this was a really strong quarter, primarily because we lived our purpose. And I will say I am really, really proud of our team. Our purpose is to inspire and build better lives and communities. And that is really, really important in the challenging environment we are experiencing today.

We focused intensely on taking care of our clients. I've been really, really involved with our teammates, creating an inclusive and energizing environment, really focusing on trying to empower our teammates to learn and grow and have meaningful careers. And I think we've done a good job across the board with regard to all of our stakeholders in optimizing their long-term returns. We do all that consistent with our values. We're trustworthy, caring, one team, success, and ultimately, trying to provide a sense of happiness for our teammates, and all of the people that we have a chance to inspire and support.

If you're following the presentation, on Table 5, I just want to point out some of the things that we've done, because I think in today's world, this is as important, if not, more important than the actual numbers, because