$TFIN

Triumph Financial, Inc.

CIK:0001539638|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest and dividend income:
Loans, including fees	$ 53,592	$ 54,836	$ 101,248	$ 108,412
Factored receivables, including fees	58,958	44,217	104,979	82,911
Securities	3,904	5,721	8,444	11,029
FHLB and other stock	146	246	418	495
Cash deposits	7,937	4,181	12,203	8,624
Total interest income	124,537	109,201	227,292	211,471
Interest expense:
Deposits	24,027	15,505	38,079	29,902
Subordinated notes	663	661	1,325	1,343
Junior subordinated debentures	965	1,035	1,919	2,029
Other borrowings	56	3,322	1,049	5,136
Total interest expense	25,711	20,523	42,372	38,410
Net interest income (expense)	98,826	88,678	184,920	173,061
Credit loss expense (benefit)	2,736	(702)	2,129	628
Net interest income after credit loss expense (benefit)	96,090	89,380	182,791	172,433
Noninterest income:
Net gains (losses) on sale of loans	100	190	187	324
Net (gains) losses on disposal of premises and equipment	(1,779)	(218)	(1,173)	628
Insurance commissions	1,006	1,282	2,117	2,532
Other	2,634	1,711	3,630	4,164
Total noninterest income	21,415	19,384	41,122	36,574
Noninterest expense:
Salaries and employee benefits	60,087	59,882	118,255	118,600
Occupancy, furniture and equipment	6,364	8,139	12,865	16,581
FDIC insurance and other regulatory assessments	1,167	894	2,225	1,621
Professional fees	7,089		11,852	5,744
Professional fees		(320)
Amortization of intangible assets	2,486	3,400	5,002	5,800
Advertising and promotion	1,405	1,838	2,617	3,302
Communications and technology	11,950	12,315	25,069	24,559
Software amortization	3,477	2,865	6,777	4,857
Travel and entertainment	1,208	1,619	2,728	3,111
Other	6,401	10,208	12,505	16,838
Total noninterest expense	101,634	100,840	199,895	201,013
Net income before income tax expense	15,871	7,924	24,018	7,994
Income tax expense	4,501	3,504	6,293	3,557
Net income	11,370	4,420	17,725	4,437
Dividends on preferred stock	(802)	(802)	(1,603)	(1,603)
Net income (loss) available to common stockholders	$ 10,568	$ 3,618	$ 16,122	$ 2,834
Earnings per common share
Basic (in dollars per share)	$ 0.44	$ 0.15	$ 0.68	$ 0.12
Diluted (in dollars per share)	$ 0.44	$ 0.15	$ 0.67	$ 0.12
Service charges on deposits
Noninterest income:
Revenue	$ 1,798	$ 1,742	$ 3,010	$ 3,338
Card income
Noninterest income:
Revenue	2,129	1,922	4,089	3,719
Fee income
Noninterest income:
Revenue	$ 15,527	$ 12,755	$ 29,262	$ 21,869

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 17,725	$ 4,437
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	5,646	7,899
Net accretion on loans	(115)	(778)
Amortization of subordinated notes issuance costs	100	118
Amortization of junior subordinated debentures	330	314
Net (accretion) amortization on securities	(43)	(216)
Amortization of intangible assets	5,002	5,800
Software amortization	6,777	4,857
Deferred taxes, net	7,656	4,164
Credit loss expense (benefit)	2,129	628
Stock based compensation	7,527	6,261
Net (gains) losses on equity securities	48	(81)
Net OREO (gains) losses and valuation adjustments	61	0
Net (gains) losses on disposal of premises and equipment	1,173	(628)
Origination of loans held for sale	(11,059)	(8,627)
Proceeds from sale of loans originated or purchased for sale	10,300	8,101
Net (gains) losses on sale of loans	(187)	(324)
Net change in operating leases	(545)	(217)
Change in estimated fair value of revenue share asset	312	(274)
(Increase) decrease in other assets	(4,498)	(35,407)
Increase (decrease) in other liabilities	2,880	10,152
Net cash provided by (used in) operating activities	51,219	6,179
Cash flows from investing activities:
Purchases of securities available for sale	0	(105,000)
Proceeds from maturities, calls, and pay downs of securities available for sale	95,030	95,028
Proceeds from maturities, calls, and pay downs of securities held to maturity	201	135
Purchases of loans held for investment	(3,682)	(21,742)
Proceeds from sale of loans	535	13,795
Net change in loans	(486,117)	(406,345)
Purchases of premises and equipment	(5,251)	(7,294)
Proceeds from sales of premises and equipment	1,220	11,455
Net proceeds from sale of OREO	10,124	0
Expenditures for capitalized software	(10,280)	(9,897)
(Purchases) redemptions of FHLB and other restricted stock, net	11,082	715
Net cash paid for acquisitions	0	(137,517)
Acquired intangible assets	(39)	(124)
Net cash provided by (used in) investing activities	(387,177)	(566,791)
Cash flows from financing activities:
Net increase (decrease) in deposits	1,267,173	365,278
Increase (decrease) in short term Federal Home Loan Bank advances	(250,000)	150,000
Repayment of long term Federal Home Loan Bank advances	(30,000)	0
Preferred stock dividends	(1,603)	(1,603)
Stock option exercises, net	(211)	25
Proceeds from employee stock purchase plan common stock issuance	1,160	1,368
Purchase of treasury stock, net	(2,221)	(2,227)
Net cash provided by (used in) financing activities	984,298	512,841
Net increase (decrease) in cash and cash equivalents	648,340	(47,771)
Cash and cash equivalents at beginning of period	248,471	330,117
Cash and cash equivalents at end of period	896,811	282,346
Supplemental cash flow information:
Interest paid	48,558	37,472
Income taxes paid, net	648	1,642
Cash paid for operating lease liabilities	3,358	2,952
Supplemental noncash disclosures:
Loans transferred to OREO	0	1,995
Loans held for investment transferred to loans held for sale	535	18,075
Assets transferred to assets held for sale	2,315	0
Lease liabilities arising from obtaining right-of-use assets	$ 15,127	$ 548

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and due from banks	$ 74,039	$ 67,535
Interest bearing deposits with other banks	822,772	180,936
Total cash and cash equivalents	896,811	248,471
Securities - equity investments with readily determinable fair values	4,540	4,588
Securities - available for sale	268,118	364,277
Securities - held to maturity, net of allowance for credit losses of $2,105 and $1,628, respectively, fair value of $515 and $1,878, respectively	977	1,550
Loans held for sale	1,405	459
Loans held for investment	5,477,091	4,991,307
Allowance for credit losses	(34,783)	(36,511)
Loans, net of allowance for credit losses	5,442,308	4,954,796
Federal Home Loan Bank and other restricted stock	3,171	14,253
Premises and equipment, net	85,968	91,071
Goodwill	355,296	355,296
Bank-owned life insurance	65,302	64,887
Deferred tax assets, net	0	181
Other assets	186,991	186,501
Total assets	7,403,685	6,380,588
Deposits
Noninterest bearing	3,780,765	1,901,638
Interest bearing	2,436,624	3,048,578
Total deposits	6,217,389	4,950,216
Federal Home Loan Bank advances	0	280,000
Subordinated notes	69,979	69,879
Junior subordinated debentures	43,321	42,991
Deferred tax liabilities, net	7,187	0
Other liabilities	102,546	95,731
Total liabilities	6,440,422	5,438,817
Commitments and contingencies - See Note 7 and Note 8
Stockholders' equity - See Note 11
Preferred stock	45,000	45,000
Common stock, 23,894,537 and 23,765,385 shares outstanding, respectively	297	295
Additional paid-in-capital	605,940	597,466
Treasury stock, at cost	(272,840)	(270,619)
Retained earnings	587,490	571,368
Accumulated other comprehensive income (loss)	(2,624)	(1,739)
Total stockholders’ equity	963,263	941,771
Total liabilities and stockholders' equity	7,403,685	6,380,588
Capitalized software
ASSETS
Intangible assets, net	49,873	46,370
Intangible assets, excluding capitalized software
ASSETS
Intangible assets, net	$ 42,925	$ 47,888