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Truist Financial Corp (TFC) Q1 2021 Earnings Call Transcript

Operator
Greetings, ladies and gentlemen, and welcome to the Truist Financial Corporation First Quarter 2021 Earnings Conference. As a reminder, this event is being recorded.
It is now my pleasure to introduce your host, Alan Greer of Investor Relations.
Alan Greer
Investor Relations Officer
Thank you, Katie, and good morning, everyone. We appreciate you joining our call today. We have our Chairman and Chief Executive Officer, Kelly King; President and COO, Bill Rogers; and CFO, Daryl Bible, who will highlight a number of strategic priorities and discuss Truist s first quarter 21 results. Chris Henson, Head of Banking and Insurance; and Clarke Starnes, our Chief Risk Officer, will also participate in the Q&A portion of our call. ....

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Truist accelerates cost-cutting steps with jobs, branches, office space

Truist Financial Corp. may be taking a deliberate approach toward a mid-2022 completion of integrating the BB&T Corp. and SunTrust Banks Inc. branch network and operational systems.
It s also continuing to step on the gas in its churning of jobs, branches and office space amid a pivotal digital transformation.
Truist, the nationâs sixth-largest bank, debuted Dec. 6, 2019, following BB&Tâs $33.5 billion purchase of SunTrust. Truistâs community/retail banking hub is in Winston-Salem, while the headquarters is in Charlotte.
2021 is going to be an intense year of focus on expenses, from the perspective of transforming our structures, so that weâre doing the right things in terms of investments and expense allocations, Kelly King, Truist s chairman and chief executive, told analysts Thursday. ....

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