Truist Financial TFC, the Charlotte, N.C.-based regional lender, said its first-quarter net income rose to $1.41 billion, or $1.05 a share, from $1.33 billion, or 99 cents a share, as total revenue rose to $6.15 billion from $5.35 billion. Analysts polled by FactSet expected earnings of $1.14 a share on revenue of $6.09 billion. Average deposits decreased 1.2% compared to the prior quarter primarily driven by the impacts of monetary tightening and higher-rate alternatives, the bank said.
Truist Financial TFC , the Charlotte, N.C.-based regional lender, said its first-quarter net income rose to $1.41 billion, or $1.05 a share, from $1.33 billion, or 99 cents a share, as total revenue rose to $6.15 billion from $5.35 billion. Analysts polled by FactSet expected earnings of $1.14 a share on revenue of $6.09 billion. Average deposits decreased 1.2% compared to the prior quarter primarily driven by the impacts of monetary tightening and higher-rate alternatives, the bank said.