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Triumph Bancorp (TBK) reported a net income of $27.2 million for Q2 2021, translating to diluted EPS of $1.08 and adjusted EPS of $1.17 after acquisition costs for HubTran, Inc. Net interest income was $90.3 million with a net interest margin of 6.47%. Total loans held for investment decreased by 5.0% to $4.831 billion, while total deposits fell by 1.3% to $4.725 billion. Credit loss expense improved by $1.8 million, reflecting positive macroeconomic trends. Nonperforming assets stood at 0.97%, with a past-due loan ratio of 2.28%. TriumphPay processed over 3 million invoices totaling $3.427 billion.
Triumph Bancorp (Nasdaq: TBK) announces the retirement of R. Bryce Fowler as CFO effective September 1, 2021, after a successful 40-year career in finance. Aaron P. Graft, CEO, praised Fowler's leadership and commitment. Fowler plans to continue with the company as a board member and consultant for three years. Concurrently, Brad Voss, who has been with Triumph since 2011, will succeed Fowler as CFO. Voss has extensive financial experience and is expected to enhance Triumph's financial strategy moving forward.
Triumph Bancorp (NASDAQ: TBK) will release its second quarter financial results on July 21, 2021, after market close. The results will be accessible on their Investor Relations website. A conference call to discuss these results is scheduled for July 22, 2021, at 7:00 a.m. CDT, led by key executives including CEO Aaron P. Graft. Investors can participate live via phone or through a simultaneous audio webcast. The company cautions that forward-looking statements regarding financial performance may differ due to various risks and uncertainties.
Transfix has partnered with TriumphPay to enhance the payment processes for freight carriers. This collaboration aims to simplify and accelerate payment transactions, allowing carriers to manage their payments through a centralized online dashboard. Carriers can view payment statuses 24/7, submit invoices online, and upload necessary documentation without needing to call for updates. The partnership seeks to modernize the freight business by reducing accounting friction and providing carriers with greater payment visibility.
Unique Logistics International (OTCMKTS: UNQL) announced a new $30 million revolving purchase loan with TBK Bank, aimed at reducing debt servicing costs and enhancing bottom-line results. This credit facility allows access to funds at the Prime Rate plus 3% and comes after the repayment of a previous $25 million facility with Corefund Capital. CEO Sunandan Ray emphasized that this move supports their aggressive business expansion strategy, building on successes achieved over the past year.
TriumphPay, a division of TBK Bank, has successfully completed the acquisition of HubTran for $97 million, enhancing its cloud-based payment solutions for the transportation industry. This strategic move aims to create a fully integrated payments network, improving efficiency and fraud mitigation in transportation transactions. The integration of both platforms is projected for completion in Q4 2021, allowing TriumphPay to position itself as a pivotal connector in the transaction process.
On May 28, 2021, Triumph Bancorp (Nasdaq: TBK) announced a quarterly cash dividend of $0.44525 per depositary share on its 7.125% Series C Preferred Stock. The dividend is payable on June 30, 2021, to shareholders on record as of June 15, 2021. This represents a continued commitment to return value to shareholders amidst ongoing business developments.
Triumph Bancorp (Nasdaq: TBK) announced that Aaron Graft, Vice Chairman and CEO, will participate in a virtual fireside chat at the Wells Fargo Financial Services Investor Conference on May 19, 2021, starting at 10:20 a.m. CDT. The presentation will be available via live webcast, accessible through the company’s Investor Relations portal. A replay will be available within a week. Triumph Bancorp is a financial holding company based in Dallas, offering a diverse range of banking and finance products.
Triumph Business Capital, part of Triumph Bancorp (Nasdaq: TBK), has appointed Amber Roy as chief operating officer, effective immediately. Roy will oversee day-to-day operations, focusing on enhancing service quality while maintaining profitability. With a strong background in strategy and operations from her previous roles at Caliber Home Loans and Bank of America, she aims to drive growth and improve client experiences. Triumph has reported significant growth in recent years, and Roy's leadership is expected to support further scaling of the company's operations.
Triumph Bancorp (Nasdaq: TBK) reported a net income of $33.1 million and diluted earnings per share of $1.32 for Q1 2021. Net interest income rose to $83.0 million with a margin of 6.06%. The company recognized non-interest income of $14.3 million, including a $4.7 million gain from an indemnification asset. Credit loss expenses benefited by $7.8 million, while net charge-offs reached $41.3 million. Triumph also announced the acquisition of HubTran, Inc. for $97 million, expected to close Q2 2021, and reported a total of $4.790 billion in deposits.
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