Raleigh, N.C. – Truist Financial Corporation, one of the nation’s largest banks, has announced a $725 million initiative to support North Carolina’s recovery following recent devastating storms. The commitment spans three years and is designed to address both immediate and long-term needs in the hardest-hit communities.

Jenna Kelly, Truist’s North Carolina West Regional President, emphasized the bank’s deep ties to the state, calling North Carolina its “home state” and highlighting the importance of structured, sustainable recovery. “This is our backyard, and the storm was the most deadly in North Carolina’s history,” Kelly said. “We see this as an opportunity to provide meaningful, long-term support.”

The initiative allocates funding across several critical areas:

• $340 million in lending for small businesses, residential mortgages, and commercial real estate.
• $310 million in low-cost, tax-exempt municipal loans for infrastructure projects.
• $50 million in loans and investments through Community Development Financial Institutions (CDFIs), which specialize in smaller loans often inaccessible through traditional banking channels.
• $25 million in grants to nonprofits addressing community recovery and development needs.

Truist’s 15 offices in the state’s mountain counties position it as a key player in rebuilding these areas. The bank is working closely with community leaders and nonprofit organizations to identify the most pressing needs and align resources effectively.

“We’re excited to leverage our capabilities to help these communities rebuild,” Kelly said. “This is about creating a structured, impactful recovery plan that supports both immediate relief and long-term stability.”

Truist’s commitment underscores the vital role financial institutions can play in disaster recovery, offering both economic support and leadership in navigating the path forward.