TBK - TBK STOCK NEWS

Triumph Bancorp (Nasdaq: TBK) has announced its Q1 financial results release scheduled for April 20, 2022, after market close. The results will be accessible via the company’s website. A conference call hosted by CEO Aaron P. Graft and CFO Brad Voss is set for April 21, 2022, at 7:00 a.m. CDT. Investors can join through a dedicated dial-in number and an online audio webcast. Triumph Bancorp offers a variety of financial services, including payments and banking, as part of its operational portfolio.

Triumph Bancorp (Nasdaq: TBK) has launched TriumphX, a new business unit aimed at enhancing its role as a transportation fintech company. This division, led by Matt Levy, will support Triumph's strategy by adding technical talent and streamlining payment processes within the transportation sector through its platforms, TriumphPay and Triumph Business Capital. The CEO emphasized the need for innovation in payments, marking a significant step towards transforming the industry's cash-flow management.

Triumph Bancorp (Nasdaq: TBK) has appointed Erik T. Bahr as the chief revenue officer of TBK Bank, SSB. In this new role, Bahr will enhance sales performance and client satisfaction within the bank's transportation business. He aims to improve enterprise offerings while managing revenue generation. Bahr brings over 25 years of experience, previously serving as executive vice president at Triumph Business Capital and in leadership roles at Compass and Facebook. CEO Aaron P. Graft emphasized the importance of Bahr's expertise in delivering integrated solutions for clients.

TriumphPay, a division of TBK Bank, has launched a pioneering payments network for the transportation industry, enhancing payment transactions among carriers, brokers, shippers, and factors. After a successful beta phase, the network now includes 11 factors and 38 brokers, facilitating over 18,030 transactions. The initiative aims to improve efficiency, mitigate fraud, and reduce processing costs through automated workflows and data integrations. This advancement positions TriumphPay as a critical component in modernizing freight payments.

Triumph Bancorp, Inc. (Nasdaq: TBK) announced a quarterly cash dividend of $0.44525 per depositary share on its 7.125% Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock. This dividend is payable on March 30, 2022, to shareholders of record as of March 15, 2022. The dividend declaration reflects the company’s commitment to returning value to its shareholders amidst its diversified financial service offerings.

Triumph Bancorp, Inc. (Nasdaq: TBK) announced that Aaron Graft, Vice Chairman and CEO, will present at the Raymond James 43rd Institutional Investors Conference on March 7, 2022, at 11:00 a.m. EST in Orlando, Florida. The presentation will be available via a live webcast, accessible through the provided links. Triumph Bancorp, headquartered in Dallas, Texas, offers a diversified range of financial services, including payments, factoring, and banking.

Triumph Bancorp (Nasdaq: TBK) has announced a buyback program for up to $50 million of its common stock. The repurchase will occur through open market transactions or private negotiations. The timing and specifics of the buybacks will depend on various factors, including market conditions and stock price. This program is authorized for one year and can be modified or halted at the company's discretion. The move is seen as a way to enhance shareholder value and reflects management’s confidence in the company’s financial health.

Triumph Bancorp (Nasdaq: TBK) announced an extension of its exchange offer for holders of $70 million in subordinated notes, previously set to expire on January 24, 2022. The new expiration date is now February 1, 2022, at 5:00 p.m. EST. As of the original deadline, approximately 96.4% of the original notes, equating to $67.5 million, were tendered in the exchange process. The new notes are identical to the old ones but registered under the Securities Act of 1933. The exchange agent for this offer is Computershare Trust Company, N.A.

Triumph Bancorp (Nasdaq: TBK) reported a net income of $25.8 million for Q4 2021, with diluted earnings per share of $1.02.

Net interest income stood at $104.1 million, while non-interest income reached $14.3 million, and non-interest expenses totaled $83.0 million, including a $7.4 million accrual for the Strategic Equity Grant.

The company's total loans increased by $84.8 million to $4.868 billion, despite a 3.6% drop in total deposits to $4.647 billion. Asset quality indicators showed a nonperforming assets ratio of 0.92% and a past-due loan ratio of 2.86% as of year-end.