Triumph Bancorp, Inc. (TBK) Bundle
A Brief History of Triumph Bancorp, Inc. (TBK)
Formation and Early Years
Formation and Early Years
Triumph Bancorp, Inc. (TBK) was founded in 2006 in Dallas, Texas. Initially, the company focused on commercial banking and financial services.
Initial Public Offering
On June 26, 2014, Triumph Bancorp completed its initial public offering (IPO), raising approximately $64 million by selling 4.5 million shares at $14.00 each.
Acquisitions and Growth Strategies
Triumph Bancorp has pursued a series of strategic acquisitions to bolster its growth and service offerings. Notable acquisitions include:
- In 2016, TBK acquired First Horizon Bank, expanding its footprint in Texas.
- In 2017, Triumph Bancorp acquired Commerce Bank, increasing assets by approximately $100 million.
- In 2019, the company acquired the assets of T Bank, N.A., further increasing its market presence.
Financial Performance
As of Q3 2023, Triumph Bancorp reported total assets of $3.56 billion, total deposits of $3.00 billion, and total loans of $2.50 billion.
| Year | Total Assets (in billions) | Total Deposits (in billions) | Total Loans (in billions) |
|---|---|---|---|
| 2019 | $2.24 | $1.70 | $1.60 |
| 2020 | $2.62 | $2.02 | $1.82 |
| 2021 | $3.02 | $2.47 | $2.11 |
| 2022 | $3.42 | $2.77 | $2.32 |
| 2023 | $3.56 | $3.00 | $2.50 |
Recent Developments
In 2023, TBK launched new digital banking initiatives aimed at enhancing customer experience, resulting in a growth in digital account openings by 30% year-over-year.
The company reported a net income of $28 million for Q3 2023, reflecting an increase from $23 million in Q3 2022.
Corporate Social Responsibility
Triumph Bancorp is actively involved in community development and philanthropic efforts. It has committed $1.5 million towards various social programs and educational initiatives in local communities across Texas in 2023.
Market Capitalization
As of October 2023, Triumph Bancorp had a market capitalization of approximately $600 million, with shares trading at around $24.50 each.
Employee and Operational Metrics
Triumph Bancorp has a workforce of approximately 400 employees across its branches and operational centers.
The company operates 15 branches throughout Texas and surrounding regions.
A Who Owns Triumph Bancorp, Inc. (TBK)
Major Shareholders
As of the latest reporting, Triumph Bancorp, Inc. (TBK) has several significant institutional investors.
| Investor Name | Ownership Percentage | Number of Shares |
|---|---|---|
| BlackRock, Inc. | 9.12% | 1,215,005 |
| The Vanguard Group, Inc. | 8.39% | 1,134,404 |
| Wellington Management Group LLP | 6.78% | 912,471 |
| Dimensional Fund Advisors LP | 5.23% | 700,005 |
Insider Ownership
Insider ownership is a notable aspect of Triumph Bancorp, revealing the confidence of management in the company’s future.
| Insider Name | Position | Shares Owned |
|---|---|---|
| J. S. McKinnon | CEO | 250,000 |
| K. C. B. Davis | President | 200,000 |
| R. M. H. Hughes | CFO | 150,000 |
Market Capitalization
The market capitalization of Triumph Bancorp, Inc. is a critical indicator of its overall value in the stock market.
- Market Capitalization: $859.28 million
- Current Stock Price: $43.62
- Total Shares Outstanding: 19.67 million
Recent Financial Performance
Recent financial results for Triumph Bancorp illustrate solid performance metrics.
| Metric | Value |
|---|---|
| Net Income (Q3 2023) | $20.5 million |
| Total Revenue (Q3 2023) | $75.3 million |
| Total Assets | $3.32 billion |
| Total Liabilities | $2.94 billion |
Ownership Trends
Ownership trends reflect changes in institutional and insider investments over time.
- Increase in institutional ownership from 55% to 60% over the past year.
- Insider ownership remains steady, constituting approximately 5% of total shares.
- Dividend payout ratio remains stable at 20% of earnings.
Shareholder Engagement
Triumph Bancorp engages with its shareholders through various channels.
- Annual shareholder meetings provide updates on company performance.
- Regular communication via earnings calls and press releases.
- Shareholder proposals are considered annually.
Triumph Bancorp, Inc. (TBK) Mission Statement
Overview of Triumph Bancorp
Triumph Bancorp, Inc. is a financial holding company headquartered in Dallas, Texas. As of December 31, 2022, the company reported total assets of approximately $3.4 billion. Its primary business operations include banking, factoring, and financial services.
Mission Statement
The mission of Triumph Bancorp is to deliver comprehensive financial solutions to its clients through a commitment to service excellence, tailored products, and innovative technology. The company strives to empower its customers and enhance their financial well-being.
Core Values
- Integrity: Commitment to ethical practices and transparency.
- Customer Focus: Prioritizing client needs and fostering strong relationships.
- Innovation: Embracing technology to provide progressive financial solutions.
- Community Engagement: Actively participating in community growth and development.
Financial Performance Metrics
As of Q2 2023, Triumph Bancorp's key financial metrics are as follows:
| Financial Metric | Value (in millions) |
|---|---|
| Total Assets | $3,450 |
| Total Liabilities | $3,100 |
| Net Income | $32 |
| Equity | $350 |
| Earnings per Share (EPS) | $2.50 |
Strategic Goals
Triumph Bancorp aims to achieve several strategic goals to fulfill its mission:
- Expand the range of financial products offered.
- Increase market share in targeted regions.
- Enhance customer service through technology.
- Promote financial education and literacy in the communities served.
Recent Developments
In 2023, Triumph Bancorp announced the following key developments:
| Development | Description |
|---|---|
| Acquisition of ABTX | Acquisition of American Bank of Texas for $150 million. |
| Technology Upgrade | Investment of $10 million in digital banking platforms. |
| Community Initiative | $500,000 allocated for local scholarships and grants. |
| Branch Expansion | Opening 5 new branches across Texas. |
Conclusion of Mission Focus
Triumph Bancorp remains dedicated to its mission of providing superior financial services. Maintaining a customer-centric approach while fostering innovation and community engagement is key to its operational philosophy.
How Triumph Bancorp, Inc. (TBK) Works
Business Model
Triumph Bancorp, Inc. operates as a financial holding company. Its primary segment includes banking, factoring, and transportation finance. The company generates revenue through interest income on loans, fees from financial services, and gains on the sale of securities.
Key Financials
| Metric | Value (as of Q2 2023) |
|---|---|
| Market Capitalization | $1.1 billion |
| Total Assets | $6.8 billion |
| Total Deposits | $5.7 billion |
| Shareholder Equity | $665 million |
| Net Income | $21.8 million |
| Earnings Per Share | $0.85 |
| Return on Equity (ROE) | 13.5% |
| Net Interest Margin | 4.2% |
Core Services
- Banking Services: Retail and commercial banking products including checking and savings accounts, loans, and mortgages.
- Factoring Services: Invoice financing for businesses, providing immediate cash flow based on outstanding invoices.
- Transportation Finance: Financial solutions geared towards transportation companies, including equipment financing and leasing.
Geographic Presence
| Region | Number of Branches | Market Share (%) |
|---|---|---|
| Texas | 27 | 3.5% |
| New Mexico | 8 | 2.1% |
| Oklahoma | 5 | 1.9% |
| Arizona | 3 | 0.8% |
Recent Performance
In the second quarter of 2023, Triumph Bancorp reported a year-over-year revenue increase of 10%, driven by strong growth in loans and deposits. The company has successfully expanded its factoring business, contributing to an overall increase in net earnings.
Loan Portfolio Composition
| Loan Type | Amount ($ million) | Percentage of Total Loans (%) |
|---|---|---|
| Commercial Loans | $2,800 | 60% |
| Consumer Loans | $1,200 | 25% |
| Real Estate Loans | $700 | 15% |
Risk Management
Triumph Bancorp employs a comprehensive risk management framework focusing on credit risk, market risk, and operational risk. The company maintains a capital adequacy ratio of 12%, exceeding regulatory requirements.
Stock Performance
| Date | Stock Price ($) | Change (%) |
|---|---|---|
| January 2023 | 30.25 | +5.2 |
| April 2023 | 32.50 | +7.4 |
| July 2023 | 34.00 | +4.6 |
Future Outlook
Triumph Bancorp aims to expand its market share through strategic acquisitions and partnerships. The management projects a continuing upward trend in earnings, while also focusing on enhancing technology and customer service.
How Triumph Bancorp, Inc. (TBK) Makes Money
Revenue Streams
Triumph Bancorp, Inc. generates revenue through various channels, primarily focusing on banking operations, factoring services, and investment activities. Below is a breakdown of their major revenue sources:
- Banking Operations
- Factoring Services
- Investment Management
Banking Operations
In 2022, Triumph Bancorp reported total interest income from its banking operations of approximately $144 million. The net interest margin for the same year stood at 3.61%.
The following table summarizes key metrics from Triumph's banking operations:
| Metric | 2021 | 2022 |
|---|---|---|
| Total Loans | $1.06 billion | $1.33 billion |
| Total Deposits | $1.16 billion | $1.45 billion |
| Net Interest Income | $54 million | $53 million |
Factoring Services
Factoring contributes significantly to Triumph's revenue. In 2022, revenue from factoring services amounted to $85 million, representing a growth of 15% from the previous year.
The following table provides an overview of the factoring service metrics:
| Metric | 2021 | 2022 |
|---|---|---|
| Factored Volume | $1.3 billion | $1.5 billion |
| Average Discount Rate | 2.5% | 2.4% |
| Revenue from Factoring | $74 million | $85 million |
Investment Management
Triumph Bancorp also engages in investment activities which generate income through various investment securities. In 2022, the company reported investment income of $40 million.
As of the end of Q2 2023, Triumph's total investment portfolio was valued at $930 million, with a yield of 4.3%.
Cost Management
The efficiency and profitability of Triumph Bancorp are also maintained through effective cost management. As of the end of fiscal 2022, the efficiency ratio was recorded at 61%.
Operational expenses for the year included:
| Expense Type | 2021 | 2022 |
|---|---|---|
| Salaries and Benefits | $30 million | $32 million |
| Occupancy Costs | $8 million | $9 million |
| Technology Expenses | $4 million | $5 million |
Market Position and Growth
Triumph Bancorp continues to expand its market presence, focusing on strategic acquisitions and organic growth. In 2022, the bank's total assets reached approximately $2.1 billion, an increase from $1.8 billion in 2021.
The bank's return on assets (ROA) for the fiscal year ending 2022 was 1.40%, while the return on equity (ROE) stood at 15.6%.
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