TBK - TBK STOCK NEWS

TriumphPay, a division of TBK Bank, has announced a definitive agreement to acquire HubTran for $97 million. This acquisition aims to create a fully integrated payments network for the transportation industry, enhancing payment processes for brokers, shippers, and carriers. The merger will introduce advanced artificial intelligence and machine learning capabilities to TriumphPay's platform, which is already integrated with over 230 freight brokers and 50 factoring clients. The deal is anticipated to close in the second quarter of 2021.

Triumph Bancorp (Nasdaq: TBK) declared a quarterly cash dividend of $17.81 per share on its 7.125% Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock, equating to $0.44525 per depositary share. This dividend will be payable on March 30, 2021, to shareholders on record as of March 15, 2021. Triumph Bancorp is a financial holding company headquartered in Dallas, Texas, offering a variety of banking and finance products through TBK Bank.

TriumphPay, a division of TBK Bank, announces the appointment of Ed Schreyer as chief operating officer, effective early March 2021. Schreyer, with over 30 years of experience, particularly at CBRE, will oversee daily operations, aiming to enhance product delivery and customer service. CEO Jordan Graft emphasized Schreyer's expertise in operations and strategic planning as pivotal for TriumphPay's growth. The company aims to streamline payment solutions in trucking, having processed payments for over 119,000 carriers since its inception.

Triumph Bancorp (Nasdaq: TBK) reported a net income of $31.3 million for Q4 2020, translating to diluted earnings per share of $1.25. The net interest income was $83.6 million with a net interest margin of 6.20%. The company processed $4.034 billion in transportation invoice payments through its Triumph Business Capital and TriumphPay units. Total loans increased by 3.0% to $4.997 billion and total deposits rose by 11.0% to $4.717 billion. Non-performing assets decreased to 1.15% of total assets.

Triumph Bancorp (Nasdaq: TBK) plans to announce its fourth quarter and full year financial results on January 21, 2021, after market close. A conference call for investors will follow on January 22, 2021, at 7:00 a.m. CDT. Key executives will discuss the results. The financial data will be accessible on the company’s website post-announcement. Investors are advised that future expectations contain uncertainties, with potential risks outlined in prior filings with the SEC.

Triumph Bancorp (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 totals $17.81 per share and is scheduled for payment on December 30, 2020, to shareholders of record by December 15, 2020.

Triumph Bancorp provides a range of financial services through its subsidiary, TBK Bank, SSB, with a focus on community banking and commercial finance.

Triumph Bancorp (Nasdaq: TBK) announced the retirement of Douglas M. Kratz from its Board of Directors, effective October 29, 2020. Kratz, who has served since 2013, stepped down due to ongoing health matters. The Company expressed gratitude for his contributions, particularly during the acquisition of National Bancshares. Chairman Carlos M. Sepulveda, Jr. and CEO Aaron P. Graft acknowledged Kratz's invaluable guidance and expertise, emphasizing the team's pride in the Company's growth over the past decade.

Triumph Bancorp (TBK) reported third-quarter 2020 net income of $22.0 million or $0.89 EPS, with adjusted diluted EPS at $0.91. The company completed the TFS acquisition, adding $101.9 million in net receivables and $105.1 million in total consideration. Total loans rose by 10.5%, reaching $4.853 billion. Net interest income increased to $74.4 million, while non-interest income fell to $10.5 million. Asset quality showed an increase in non-performing assets to 1.52%. Triumph processed $2.920 billion in invoice payments during the quarter.

Triumph Bancorp (Nasdaq: TBK) is set to release its third quarter financial results on October 19, 2020, after market close. The results will be accessible on the company’s website. CEO Aaron P. Graft, CFO Bryce Fowler, and CLO Todd Ritterbusch will discuss the financial outcomes during an investor conference call on October 20, 2020, at 7:00 a.m. CDT. Interested participants can join the call via a dedicated dial-in number or by accessing an audio-only webcast through the Triumph Bancorp website.