Triumph Financial Files Q3 2024 10-Q

TL;DR

**Triumph Financial (TBK) dropped its Q3 2024 10-Q. Check the numbers.**

AI Summary

Triumph Financial, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported its financial performance and position, including details on its assets, liabilities, and equity. Specific financial figures and operational highlights for the third quarter of 2024 are detailed within the filing.

Why It Matters

This filing provides investors and analysts with the latest financial data for Triumph Financial, Inc., crucial for understanding the company's performance and making informed investment decisions.

Risk Assessment

Risk Level: medium — As a financial institution, Triumph Financial is subject to various market and regulatory risks inherent in the banking sector.

Key Numbers

• 2024 Q3 — Reporting Period (Indicates the specific quarter for which the 10-Q was filed.)
• 2024-09-30 — Period End Date (The specific date marking the end of the financial reporting period.)
• 2023-12-31 — Previous Year End (Provides a comparison point to the end of the prior fiscal year.)

Key Players & Entities

• Triumph Financial, Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241016 (date) — Filing date
• Triumph Bancorp, Inc. (company) — Former company name

FAQ

Key Financial Figures

• $0.01 — atest practicable date. Common Stock — $0.01 par value, 23,387,463 shares, as of Oct

Filing Documents

• tbk-20240930.htm (10-Q) — 5659KB
• tfin-exx311xx3q24.htm (EX-31.1) — 10KB
• tfin-exx312xx3q24.htm (EX-31.2) — 10KB
• tfin-exx321xx3q24.htm (EX-32.1) — 8KB
• 0001628280-24-042923.txt ( ) — 22676KB
• tbk-20240930.xsd (EX-101.SCH) — 79KB
• tbk-20240930_cal.xml (EX-101.CAL) — 143KB
• tbk-20240930_def.xml (EX-101.DEF) — 600KB
• tbk-20240930_lab.xml (EX-101.LAB) — 1036KB
• tbk-20240930_pre.xml (EX-101.PRE) — 840KB
• tbk-20240930_htm.xml (XML) — 5439KB

- 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 94 Item 4.

Controls and Procedures

Controls and Procedures 96

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 96 Item 1A.

Risk Factors

Risk Factors 96 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 96 Item 3. Defaults Upon Senior Securities 96 Item 4. Mine Safety Disclosures 96 Item 5. Other Information 97 Item 6. Exhibits 98 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 September 30, 2024 and December 31, 2023 (Dollar amounts in thousands) September 30, 2024 December 31, 2023 (Unaudited) ASSETS Cash and due from banks $ 78,059 $ 93,072 Interest bearing deposits with other banks 411,221 193,563 Total cash and cash equivalents 489,280 286,635 Securities - equity investments with readily determinable fair values 4,583 4,488 Securities - available for sale 403,186 299,644 Securities - held to maturity, net of allowance for credit losses of $ 3,383 and $ 3,190 , respectively, fair value of $ 2,503 and $ 4,015 , respectively 2,121 2,977 Loans held for sale 26 1,236 Loans, net of allowance for credit losses of $ 41,243 and $ 35,219 , respectively 4,291,724 4,127,881 Federal Home Loan Bank and other restricted stock 7,112 14,278 Premises and equipment, net 156,462 113,457 Capitalized software, net 34,481 22,365 Goodwill 233,709 233,709 Intangible assets, net 17,316 23,646 Bank-owned life insurance 42,381 41,946 Deferred tax asset, net 10,667 8,800 Other assets 172,998 166,272 Total assets $ 5,866,046 $ 5,347,334 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Deposits Noninterest bearing $ 2,103,092 $ 1,632,022 Interest bearing 2,603,602 2,345,456 Total deposits 4,706,694 3,977,478 Federal Home Loan Bank advances 30,000 255,000 Subordinated notes 109,072 108,678 Junior subordinated debentures 42,196 41,740 Other liabilities 92,320 100,038 Total liabilities 4,980,282 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, 23,387,522 and 23,302,414 shares outstanding, respectively 291 290 Additional paid-in-capital 564,464 550,743 Treasury stock, at cost ( 268,352 ) ( 265,038 ) Retained earnings 546,179 536,331 Accumulated other comprehensive income (loss) ( 1,818 ) ( 2,926 ) Total stockholders

View Full Filing

View this 10-Q filing on SEC EDGAR