Triumph Bancorp Announces $50 Million Stock Repurchase Program

Rhea-AI Summary

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.

Positive

• Authorization of a $50 million stock buyback program to enhance shareholder value.
• Management's confidence indicated by the buyback, reflecting strong financial health.

Negative

• None.

DALLAS, Feb. 07, 2022 (GLOBE NEWSWIRE) -- Triumph Bancorp, Inc. (Nasdaq: TBK) (“Triumph” or the “Company”) announced today that its board of directors has authorized the Company to repurchase up to $50 million of its outstanding common stock. The Company may repurchase shares from time to time in open market transactions or through privately negotiated transactions at the Company’s discretion. The amount, timing and nature of any share repurchases will be based on a variety of factors, including the trading price of the Company’s common stock, applicable securities laws restrictions, regulatory limitations and market and economic factors. The repurchase program is authorized for a period of up to one year and does not require the Company to repurchase any specific number of shares. The repurchase program may be modified, suspended or discontinued at any time, at the Company’s discretion.

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Triumph

Triumph Bancorp, Inc. (Nasdaq: TBK) is a financial holding company headquartered in Dallas, Texas, offering a diversified line of payments, factoring, and banking services. www.triumphbancorp.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such statements are predictions and that actual events or results may differ materially. Triumph’s expected financial results or other plans are subject to a number of risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” and the forward-looking statement disclosure contained in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 12, 2021. Forward-looking statements speak only as of the date made and Triumph undertakes no duty to update the information.

Source: Triumph Bancorp, Inc.

Investor Relations:
Luke Wyse
Senior Vice President, Finance & Investor Relations
lwyse@tbkbank.com
214-365-6936

Media Contact:
Amanda Tavackoli
Senior Vice President, Director of Corporate Communication
atavackoli@tbkbank.com
214-365-6930

FAQ

What is the purpose of Triumph Bancorp's stock buyback program?

The stock buyback program aims to enhance shareholder value by repurchasing up to $50 million of common stock.

When was the stock buyback program authorized for Triumph Bancorp?

The stock buyback program was authorized on February 7, 2022.

How will Triumph Bancorp execute the stock buyback?

The buyback will be executed through open market transactions or privately negotiated transactions at the company's discretion.

What is the duration of Triumph Bancorp's stock buyback authorization?

The stock buyback program is authorized for a period of up to one year.

What factors will influence the timing of stock repurchases by Triumph Bancorp?

The timing will depend on trading prices, applicable securities laws, regulatory limitations, and market conditions.