Truist Financial Guides for 2Q Net Interest Income to Be Relatively Flat on Linked-Quarter Basis

By Allison Prang

Truist Financial Corp.'s chief financial officer said the regional lender is expecting its second-quarter net interest margin to fall in the high single digits on a linked-quarter basis.

The company also is expecting taxable equivalent revenue -- not including security gains -- to be relatively flat, CFO Daryl Bible told analysts on the company's earnings call. He also said the company is guiding net interest income to be relatively flat and said the company expects the same for noninterest expense adjusted for merger expenses and amortization.

Mr. Bible said Truist is expecting its tax rate to be between 19% and 20% and for net charge-offs to be between 30 basis points and 45 basis points.

"As you look out into 2021, our proven economic conditions may allow for further reserve releases," Mr. Bible said on the call.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

April 15, 2021 10:04 ET (14:04 GMT)

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