Triumph Financial, Inc. Files Q1 2024 10-Q Report

TL;DR

<b>Triumph Financial, Inc. has submitted its Q1 2024 10-Q filing, detailing financial performance and segment information.</b>

AI Summary

Triumph Financial, Inc. (TFIN-P) filed a Quarterly Report (10-Q) with the SEC on April 17, 2024. Triumph Financial, Inc. filed its quarterly report on Form 10-Q for the period ending March 31, 2024. The filing covers the first quarter of 2024, with data reported as of March 31, 2024. Key financial statement items such as common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income are detailed for the period. The report includes segment information, specifically referencing 'TraxGroupIncMember'. The company's principal business is classified under 'STATE COMMERCIAL BANKS' with SIC code 6022.

Why It Matters

For investors and stakeholders tracking Triumph Financial, Inc., this filing contains several important signals. This filing provides stakeholders with the latest financial snapshot of Triumph Financial, Inc., crucial for assessing its performance and stability in the current economic climate. The inclusion of segment data, particularly 'TraxGroupIncMember', offers insight into the company's operational structure and the performance of its distinct business units.

Risk Assessment

Risk Level: low — Triumph Financial, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any unusual or high-risk events, reflecting routine financial disclosure.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand Triumph Financial's Q1 2024 performance and operational focus.

Key Numbers

• 20240331 — Reporting Period End Date (The end date for the financial data presented in the 10-Q.)
• 20240417 — Filing Date (The date the 10-Q was officially filed with the SEC.)
• 6022 — SIC Code (Standard Industrial Classification for State Commercial Banks.)

Key Players & Entities

• Triumph Financial, Inc. (company) — Filer of the 10-Q report.
• TFIN-P (company) — Ticker symbol for Triumph Financial, Inc.
• 20240331 (date) — Reporting period end date for the 10-Q.
• 20240417 (date) — Filing date of the 10-Q.
• 6022 (industry_code) — Standard Industrial Classification for State Commercial Banks.
• TX (location) — State of incorporation for Triumph Financial, Inc.
• TraxGroupIncMember (company) — A specific business segment mentioned in the filing.

FAQ

Industry Context

Triumph Financial, Inc. operates within the State Commercial Banks industry, as indicated by its SIC code 6022. This sector is characterized by deposit-taking, lending, and other financial services.

Regulatory Implications

As a commercial bank, Triumph Financial is subject to regulations from various financial authorities, including the Federal Reserve and state banking departments, governing its operations, capital requirements, and risk management.

What Investors Should Do

1. Analyze the balance sheet and income statement details for Q1 2024.
2. Examine any disclosures related to the 'TraxGroupIncMember' segment.
3. Compare key financial metrics to previous periods if available in the full filing.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-04-17: Filing Date — Date the 10-Q was submitted to the SEC.

Year-Over-Year Comparison

This filing is a standard quarterly report (10-Q) for the period ending March 31, 2024. Specific comparative data against the previous filing (e.g., prior quarter or year-ago quarter) is not detailed in this summary.

Key Financial Figures

• $0.01 — atest practicable date. Common Stock — $0.01 par value, 23,334,719 shares, as of Apr

Filing Documents

• tbk-20240331.htm (10-Q) — 4145KB
• tfin-exx311xx1q24.htm (EX-31.1) — 10KB
• tfin-exx312xx1q24.htm (EX-31.2) — 10KB
• tfin-exx321xx1q24.htm (EX-32.1) — 8KB
• 0001628280-24-016581.txt (&nbsp;) — 18892KB
• tbk-20240331.xsd (EX-101.SCH) — 71KB
• tbk-20240331_cal.xml (EX-101.CAL) — 136KB
• tbk-20240331_def.xml (EX-101.DEF) — 578KB
• tbk-20240331_lab.xml (EX-101.LAB) — 978KB
• tbk-20240331_pre.xml (EX-101.PRE) — 791KB
• tbk-20240331_htm.xml (XML) — 4484KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Consolidated Balance Sheets 2 Consolidated Statements of Income 3 Consolidated Statements of Comprehensive Income 4 Consolidated Statements of Changes in Stockholders' Equity 5 Consolidated Statements of Cash Flows 6 Condensed Notes to Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 40 Item 3.

Quantitative and Qualitative Disclosures About Market Risks

Quantitative and Qualitative Disclosures About Market Risks 70 Item 4.

Controls and Procedures

Controls and Procedures 72

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 72 Item 1A.

Risk Factors

Risk Factors 72 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 73 Item 3. Defaults Upon Senior Securities 73 Item 4. Mine Safety Disclosures 73 Item 5. Other Information 73 Item 6. Exhibits 74 i Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION ITEM 1

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 1 Table of Contents TRIUMPH FINANCIAL, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS March 31, 2024 and December 31, 2023 (Dollar amounts in thousands) March 31, 2024 December 31, 2023 (Unaudited) ASSETS Cash and due from banks $ 69,730 $ 93,072 Interest bearing deposits with other banks 347,303 193,563 Total cash and cash equivalents 417,033 286,635 Securities - equity investments with readily determinable fair values 4,441 4,488 Securities - available for sale 320,101 299,644 Securities - held to maturity, net of allowance for credit losses of $ 3,135 and $ 3,190 , respectively, fair value of $ 3,750 and $ 4,015 , respectively 3,010 2,977 Loans held for sale 3,712 1,236 Loans, net of allowance for credit losses of $ 38,232 and $ 35,219 , respectively 4,156,888 4,127,881 Federal Home Loan Bank and other restricted stock 4,764 14,278 Premises and equipment, net 162,544 113,457 Capitalized software, net 26,435 22,365 Other real estate owned, net 37 37 Goodwill 233,709 233,709 Intangible assets, net 23,842 23,646 Bank-owned life insurance 42,077 41,946 Deferred tax asset, net 7,946 8,800 Other assets 168,954 166,235 Total assets $ 5,575,493 $ 5,347,334 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Deposits Noninterest bearing $ 1,747,544 $ 1,632,022 Interest bearing 2,703,419 2,345,456 Total deposits 4,450,963 3,977,478 Federal Home Loan Bank advances 30,000 255,000 Subordinated notes 108,807 108,678 Junior subordinated debentures 41,889 41,740 Other liabilities 71,495 100,038 Total liabilities 4,703,154 4,482,934 Commitments and contingencies - See Note 6 and Note 7 Stockholders' equity - See Note 10 Preferred stock 45,000 45,000 Common stock, 23,334,997 and 23,302,414 shares outstanding, respectively 290 290 Additional paid-in-capital 555,613 550,743 Treasury stock, at cost ( 265,119 ) ( 265,038 ) Retained earnings 539,688 536,331 Accumulated other comprehensive income (loss) ( 3,133 )

View Full Filing

View this 10-Q filing on SEC EDGAR