Third Quarter 2022 Earnings Conference Call
Noninterest income
5-Quarter Trend
$2,365
$2,323
$2,248
$772
$657
$2,142
$577
$559
$2,102
$558
$273
$254
$276
$252
$263
$350
$337
$356
$343
$334
$377
$255
$316
$261
$222
$825
$727
$725
$645
$666
42.2%
41.7%
40.2%
39.7%
36.0%
3Q21
4Q21
Insurance income
Wealth management income
All other fee categories
Other income detail
Other income (ex. NQDCP)
NQDCP impact
Other income
1Q22
2Q22
3Q22
Investment banking & trading
Service charges on deposits
Fee income ratio (%)
3Q21
110 $
30
2Q22
46 $
3Q22
29
(30)
(28)
140 $
16 $
vs. Prior Quarter
Noninterest income declined $146 million, or 6.5%
-
Insurance income decreased $100 million, or 12%, primarily driven by
seasonality
- Investment banking & trading declined $33 million, or 13%, due to
continued challenging market conditions
Other income, excluding NQDCP impacts, decreased $17 million due to
valuation-related marks (see table)
vs. Prior Year
Noninterest income declined $263 million, or 11%
-
Residential mortgage income declined 60% due to lower refinance activity
(impacting volumes and margins)
- Investment banking & trading income declined 30% due to lower capital
markets activity, partially offset by higher trading income
Other income, excluding NQDCP impact, decreased $81 million due to
lower income from SBIC-related investments and other valuation-related
impacts (see table)
Above declines were partially offset by strong 12% growth in insurance
income (acquisitions and 6.5% organic growth)
TRUIST HH
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