Truist Financial Corporation Announces Sale of $5.5B Auto Loans from Regional Acceptance Corporation

Details

The sale is expected to close in late 3Q26 or early 4Q26 and is anticipated to generate $5.2 billion of net proceeds and recapture a $535 million loan loss reserve. This transaction is expected to create $945 million of Common Equity Tier 1 (CET1) capital, reduce non-performing loans (NPLs) and non-current obligations (NCOs), and improve the company's liquidity and credit risk profile. The strategic exit is consistent with Truist's broader strategic review and is expected to be modestly accretive to earnings and tangible book value.

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About Truist Financial Corp

Truist Financial Corp is a prominent American bank holding company formed through the merger of BB&T and SunTrust Banks. With a focus on delivering a comprehensive range of financial services, Truist serves individuals, small businesses, and large corporations. Its offerings include traditional banking products, wealth management, mortgage services, and insurance, making it a versatile player in the financial services sector. As one of the largest bank holding companies in the United States, Truist plays a critical role in regional and national markets. Its extensive network of branches and ATMs primarily operates across the southeastern and mid-Atlantic states, facilitating economic activities and growth in these regions. The company's commitment to technology innovation and digital banking solutions enhances its competitiveness and customer experience. Truist Financial Corp not only influences the banking industry but also impacts various sectors through its extensive credit and loan offerings, propelling business operations and consumer spending. By integrating responsible banking practices with a robust strategic vision, Truist continues to uphold a significant market presence while fostering economic development.