Third Quarter 2022 Earnings Conference Call
Average deposits
5-Quarter Trend
$423.8
$411.0
$415.2
$420.1
$402.7
$148.6
$146.5
$145.9
$146.0
$141.7
$261.0
$264.5
$269.3
$275.1
$274.1
0.31%
0.09%
0.03%
0.03%
0.03%
3Q21
4Q21
Interest-bearing deposits
Total deposit cost (%)
1Q22
3Q22
2Q22
Noninterest-bearing deposits
-
vs. Prior Quarter
Average deposits decreased $3.7 billion, or 0.9%, driven by monetary tightening,
increased consumer spending, and seasonality
Well-controlled deposit costs
Total cost of deposits was 31 bps; up 22 bps compared to prior quarter
Total cost of interest-bearing deposits was 48 bps, up 34 bps compared to
prior quarter
-
Reflects a 21% cumulative beta; (ex. brokered deposits was 14%)1
vs. Prior Year
Average deposits increased $17.4 billion, or 4.3%, due to the prior impacts of
government stimulus and 1Q increase in brokered deposits
1 Cumulative beta calculation is based on change in average interest bearing deposit cost divided by change in average Fed Funds from 1Q22 to 3Q22
TRUIST HH
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