TBK - TBK STOCK NEWS

Triumph Bancorp (NASDAQ: TBK) has elected Harrison Barnes to its board of directors. Barnes, a professional basketball player and an experienced investor, has a history of overseeing business affairs, including venture capital transactions. CEO Aaron Graft praised his intelligence and character, while Carlos M. Sepulveda, Jr. highlighted Barnes’s potential contribution to Triumph's fintech development. Barnes expressed honor in joining the board, emphasizing his commitment to enhancing Triumph's standing in the transportation payments technology sector.

Triumph Bancorp (NASDAQ: TBK) announced a quarterly cash dividend of $0.44525 per depositary share, amounting to $17.81 per share on its 7.125% Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock. The dividend is set to be paid on December 30, 2021, to shareholders on record as of December 15, 2021. This declaration reflects the company’s commitment to delivering shareholder value through its diversified line of banking and financial services.

Triumph Bancorp, Inc. (Nasdaq: TBK) has appointed Renee Galitis as Chief Information Officer. With extensive experience in driving IT strategy and innovation in the financial services sector, Galitis will oversee Triumph's IT and information security teams. Previously, she held leadership roles at Caliber Home Loans and Black Knight, Inc. CEO Aaron P. Graft stated her expertise in technology transformation aligns well with the company's goals. Galitis expressed enthusiasm for enhancing operational efficiency through innovative technology solutions.

Triumph Bancorp (TBK) reported a net income of $23.6 million, with diluted earnings per share at $0.94 for Q3 2021. Net interest income reached $91.8 million, while non-interest income was $12.1 million. The net interest margin stood at 6.69%. Total loans held for investment decreased by $48.5 million to $4.783 billion. Total deposits grew by $97.1 million to $4.823 billion. The nonperforming assets ratio was 0.86%, with significant past-due amounts related to Misdirected Payments.

Triumph Bancorp (NASDAQ: TBK) will announce its Q3 2021 financial results on October 20, 2021, after market close. Investors can access the results via the company's website. A conference call with CEO Aaron P. Graft and CFO Brad Voss is scheduled for October 21, 2021, at 7:00 a.m. CDT. The call can be joined by dialing the provided numbers or through a webcast on the company's site. The press release advises that forward-looking statements involve risks that may cause actual results to differ. Investors are encouraged to review risk factors in the company's 10-K report.

On October 4, 2021, Triumph Business Capital, part of Triumph Bancorp (Nasdaq: TBK), announced the appointment of Rob Wright as chief product officer. Wright, who previously held a leadership role at Capital One, will oversee product strategy and development to enhance customer offerings. His experience in delivering innovative solutions, particularly in the transportation sector, is expected to drive growth and improve customer experiences. Triumph Business Capital specializes in invoice factoring for various industries, maintaining a commitment to product innovation and strategic partnerships.

TriumphPay, a division of TBK Bank, has announced it will exceed $16 billion in annualized payments volume for Q3 2021, solidifying its position as the largest payor in brokered freight. The company also revealed a leadership realignment: Tim Valdez joins as senior vice president, Jordan Graft transitions to strategic advisor, and Ed Schreyer expands his role to president and COO. These changes aim to enhance TriumphPay's strategy and operations while continuing growth in the trucking payments network.

Triumph Bancorp (Nasdaq: TBK) announced a quarterly cash dividend of $17.81 per share on its 7.125% Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock. Each depositary share entitles holders to receive $0.44525, payable on September 30, 2021, to shareholders on record by September 15, 2021. This dividend reflects the company’s ongoing commitment to returning value to its investors.

Triumph Bancorp (NASDAQ: TBK) has completed a $70 million private placement of Fixed-to-Floating Rate Subordinated Notes due September 1, 2031. The Notes will initially offer an interest rate of 3.50% per annum for the first five years, transitioning to a floating rate thereafter. The company plans to use the proceeds to redeem its existing 6.50% Notes due 2026 and for general corporate purposes. The offering is intended to strengthen the company's Tier 2 capital. Piper Sandler led the placement, with Raymond James as co-agent.