Truist Cites First Brands Exposure, None to Tricolor; Shares Up

Truist Financial tells investors during its earnings conference call that while the bank had no exposure to bankrupt Tricolor Holdings, it has some exposure to First Brands. The bank accounted for this in its non-performing loans, loan loss reserve and 2025 net charge-off guidance, per CFO Mike Maguire.

• Executives aren’t specific about size of exposure, saying it’s less than $200 million
• Co.’s updated guidance expects net charge-offs of 55 basis points in 2025 vs prior guidance of 55 to 60 bps
  • Doesn’t see industry’s trio of recent blowups as a red flag for credit. “It would be ...