Triumph Financial Files Q2 2024 10-Q
Ticker: TFIN-P · Form: 10-Q · Filed: Jul 17, 2024 · CIK: 1539638
| Field | Detail |
|---|---|
| Company | Triumph Financial, Inc. (TFIN-P) |
| Form Type | 10-Q |
| Filed Date | Jul 17, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Triumph Financial's Q2 2024 10-Q is in. Check the numbers.
AI Summary
Triumph Financial, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position, including its assets, liabilities, and equity. Specific financial figures and operational details for the second quarter of 2024 are presented.
Why It Matters
This filing provides investors and analysts with a detailed look into Triumph Financial's financial health and operational performance during the second quarter of 2024, impacting investment decisions.
Risk Assessment
Risk Level: medium — Quarterly reports can reveal shifts in financial performance, asset quality, or regulatory compliance that may impact a company's stock price.
Key Players & Entities
- Triumph Financial, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — Period of report
- 20240717 (date) — Filing date
- TX (location) — State of incorporation
- DALLAS (location) — City of business address
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, indicating the second quarter of 2024.
When was this 10-Q filed with the SEC?
The filing date (FILED AS OF DATE) is 20240717.
What is the primary business of Triumph Financial, Inc. according to the SIC code?
The Standard Industrial Classification (SIC) code is 6022, which corresponds to STATE COMMERCIAL BANKS.
What was Triumph Financial's former company name?
The former company name was Triumph Bancorp, Inc.
What is the fiscal year end for Triumph Financial, Inc.?
The fiscal year end is 1231.
Filing Stats: 4,700 words · 19 min read · ~16 pages · Grade level 20 · Accepted 2024-07-17 16:15:36
Key Financial Figures
- $0.01 — atest practicable date. Common Stock — $0.01 par value, 23,363,651 shares, as of Jul
Filing Documents
- tbk-20240630.htm (10-Q) — 5387KB
- a10-1rsu2024.htm (EX-10.1) — 69KB
- a10-2psubank2024.htm (EX-10.2) — 377KB
- a10-3psufintech2024.htm (EX-10.3) — 150KB
- a10-4options2024.htm (EX-10.4) — 66KB
- tfin-exx311xx2q24.htm (EX-31.1) — 10KB
- tfin-exx312xx2q24.htm (EX-31.2) — 10KB
- tfin-exx321xx2q24.htm (EX-32.1) — 8KB
- 0001628280-24-032079.txt ( ) — 22742KB
- tbk-20240630.xsd (EX-101.SCH) — 78KB
- tbk-20240630_cal.xml (EX-101.CAL) — 142KB
- tbk-20240630_def.xml (EX-101.DEF) — 595KB
- tbk-20240630_lab.xml (EX-101.LAB) — 1031KB
- tbk-20240630_pre.xml (EX-101.PRE) — 834KB
- tbk-20240630_htm.xml (XML) — 5254KB
- 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 7 Condensed Notes to Consolidated Financial Statements 9 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 46 Item 3.
Quantitative and Qualitative Disclosures About Market Risks
Quantitative and Qualitative Disclosures About Market Risks 91 Item 4.
Controls and Procedures
Controls and Procedures 92
- OTHER INFORMATION
PART II - OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 93 Item 1A.
Risk Factors
Risk Factors 93 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 93 Item 3. Defaults Upon Senior Securities 93 Item 4. Mine Safety Disclosures 93 Item 5. Other Information 93 Item 6. Exhibits 95 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 June 30, 2024 and December 31, 2023 (Dollar amounts in thousands) June 30, 2024 December 31, 2023 (Unaudited) ASSETS Cash and due from banks $ 76,251 $ 93,072 Interest bearing deposits with other banks 424,412 193,563 Total cash and cash equivalents 500,663 286,635 Securities - equity investments with readily determinable fair values 4,422 4,488 Securities - available for sale 339,661 299,644 Securities - held to maturity, net of allowance for credit losses of $ 3,162 and $ 3,190 , respectively, fair value of $ 3,576 and $ 4,015 , respectively 2,787 2,977 Loans held for sale 1,051 1,236 Loans, net of allowance for credit losses of $ 39,591 and $ 35,219 , respectively 4,248,826 4,127,881 Federal Home Loan Bank and other restricted stock 14,040 14,278 Premises and equipment, net 159,588 113,457 Capitalized software, net 30,582 22,365 Goodwill 233,709 233,709 Intangible assets, net 20,943 23,646 Bank-owned life insurance 42,225 41,946 Deferred tax asset, net 6,641 8,800 Other assets 178,196 166,272 Total assets $ 5,783,334 $ 5,347,334 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Deposits Noninterest bearing $ 1,689,531 $ 1,632,022 Interest bearing 2,702,487 2,345,456 Total deposits 4,392,018 3,977,478 Federal Home Loan Bank advances 280,000 255,000 Subordinated notes 108,939 108,678 Junior subordinated debentures 42,042 41,740 Other liabilities 86,086 100,038 Total liabilities 4,909,085 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, 23,353,519 and 23,302,414 shares outstanding, respectively 291 290 Additional paid-in-capital 559,072 550,743 Treasury stock, at cost ( 268,352 ) ( 265,038 ) Retained earnings 541,633 536,331 Accumulated other comprehensive income (loss) ( 3,395 ) ( 2,926 ) Total stockholders' equi