1. A Bank of America for the Southeastern and Mid-Atlantic U.S.

2. A Wells Fargo that also has a major insurance division and focuses on the Southeast.

For Truist Financial Corporation (symbol: BBT), formerly known as BB&T Corporation, its major customers fall into broad categories rather than specific named companies, as it is a diversified financial services provider.

The company primarily serves the following customer categories:

1. Individuals and Consumers: This category includes customers who utilize personal banking services such as checking, savings, money market accounts, certificates of deposit, individual retirement accounts, automobile lending, bankcard lending, consumer finance, home equity and mortgage lending, investment brokerage, and wealth management services.
2. Small and Middle Market Businesses: This category encompasses small businesses and commercial middle market companies that leverage a range of services including commercial deposit and treasury services, various lending products (small business, commercial middle market, floor plan, commercial mortgage, mortgage warehouse), lease financing, merchant services, and insurance premium finance.
3. Corporate, Institutional, and Government Clients: This category includes larger corporations, government entities, and institutional clients that utilize corporate and investment banking, capital market services, institutional trust services, international banking, real estate lending, and supply chain financing services.

William H. Rogers Jr., Chairman and Chief Executive Officer

William H. Rogers Jr. became Chairman of Truist Financial Corporation in March 2022 and Chief Executive Officer in September 2021. He previously served as President and Chief Operating Officer of Truist from December 2019 to September 2021. Prior to the merger that formed Truist, he held the positions of Chairman and CEO of SunTrust Bank, a predecessor company, since January 2012, and President and CEO since June 2011. Rogers began his career in SunTrust's commercial banking division in 1980 and progressed through various senior roles. He holds a Bachelor of Business Administration from the University of North Carolina at Chapel Hill and an MBA from Georgia State University.

Michael Maguire, Chief Financial Officer

Michael Maguire was appointed Chief Financial Officer for Truist Financial Corporation effective September 15, 2022. In this role, he is responsible for the company's financial planning and analysis, treasury, accounting, tax, investor relations, corporate strategy, and mergers and acquisitions activities. Before becoming CFO, Maguire was Truist's chief consumer finance and payments officer, where he led consumer lending and wholesale payments businesses. He also served as head of enterprise partnerships and investments at a Truist predecessor, focusing on strategic equity investments in financial technology. Earlier in his career, Maguire spent 16 years as an investment banker at Truist Securities, where he was involved in over 150 advisory and financing transactions within the financial technology sector, including mergers and acquisitions and public offerings. He earned a BSBA in Finance from the University of North Carolina at Chapel Hill and an MBA in Finance from Emory University.

Beau Cummins, Chief Operating Officer

Beau Cummins serves as Chief Operating Officer at Truist, where he is responsible for optimizing operations and overseeing key strategic initiatives related to the bank's integration and growth nationwide. He played a significant role in managing organizational changes following the merger and expanding Truist's corporate and investment banking presence. Cummins holds an MBA from the University of Michigan and a Bachelor's degree from Miami University. His prior experience includes senior leadership roles at SunTrust and Bank of America, specializing in capital markets, investment banking, and operational transformation.

Steve Aufderheide, Chief Technology Officer

Steve Aufderheide is the Chief Technology Officer at Truist. He leads the company's technology innovation, digital transformation, and initiatives to enhance operational excellence through high-performing technical teams. Aufderheide is recognized for implementing profit-driven technology solutions in dynamic financial service environments and brings over 25 years of executive IT management experience. He holds a BS in Computer Science from Western Connecticut State University and has held leadership positions at SunTrust, ACI Worldwide, and other financial technology firms.

DeVon Lang, President, North Texas Region

DeVon Lang is the President for the North Texas Region at Truist. In this role, he focuses on expanding and managing commercial and not-for-profit client relationships, and drives the regional growth strategy by providing strategic financial solutions for businesses and municipalities. Lang holds an MBA from the University of Houston and a Bachelor's in Finance from Louisiana State University. His career background includes energy corporate banking, middle market banking, and senior positions at Truist Securities and Comerica.

• Digital-first banks and specialized fintech lenders: These companies leverage superior technology, lower overhead, and often better user experiences to attract customers, particularly for deposit accounts, personal loans, and small business lending, directly competing with Truist's Consumer Banking and Corporate and Commercial Banking segments.
• Large technology companies entering financial services: Companies like Apple, Google, and Amazon are increasingly offering financial products (e.g., high-yield savings accounts, payment solutions, lending to merchants) leveraging their vast customer bases, data, and technological prowess, posing a significant competitive challenge to traditional banks like Truist.
• Robo-advisors and automated investment platforms: These platforms provide lower-cost, technology-driven investment management services, directly threatening Truist's traditional investment brokerage and wealth management offerings, especially for mass-market and younger investors.

For Beacon Financial (symbol: BBT), which operates as Truist Financial Corporation, the addressable markets for its main products and services in the U.S. are as follows:

• Retail Banking: The U.S. retail banking market was valued between approximately USD 870 billion and USD 1.28 trillion in 2025.
• Mortgage Lending: The U.S. home loan market is estimated to reach USD 2.42 trillion in 2026.
• Commercial Banking: The U.S. commercial banking market was valued at approximately USD 732.5 billion in 2025 and is estimated to reach USD 765.53 billion in 2026.
• Insurance Holdings: The U.S. insurance market size was approximately USD 3.7 trillion in 2024.
• Wealth Management: null

For Truist Financial Corporation, which trades under the symbol BBT, the expected drivers of future revenue growth over the next 2-3 years include:

1. Net Interest Income (NII) Growth and Net Interest Margin (NIM) Expansion: Truist anticipates an increase in net interest income, with projections for 3%-4% growth in 2026. This growth is expected to be fueled by factors such as broad-based loan growth, strategic asset repricing, and lower funding costs due to declining deposit expenses. The company also aims for its net interest margin to reach the low-3% range by the end of 2026, indicating improved profitability from its lending activities.
2. Fee Income Expansion: The company is focused on expanding its non-interest income, with expectations for mid-single-digit to high-single-digit growth in fee income for 2026. This expansion is projected to be driven by a stronger emphasis on wealth management services and a gradual recovery in investment banking and trading activities.
3. Digital Transformation and Technology Investments: Truist is investing in digital adoption and technology upgrades, including the launch of an AI-enabled receivables platform. These investments are intended to reduce operational costs, enhance efficiency, and create opportunities for incremental fee revenue, thereby positioning the company for ongoing revenue and margin expansion.
4. Strategic Loan and Deposit Growth: Truist plans to accelerate earnings growth through targeted loan and deposit growth. The company aims for average loan balances to grow 3%-4% in 2026, focusing on commercial and industrial (C&I) businesses while also prioritizing deposit growth in both retail and wholesale segments through strategies to attract new households and enhance existing client services.