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Profile: Triumph Bancorp Inc (TBK.O)

TBK.O on Nasdaq

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Triumph Bancorp, Inc., incorporated on November 10, 2003, is a financial holding company. Through its bank subsidiary, TBK Bank, SSB (TBK Bank), the Company offers traditional banking services, as well as commercial finance products to businesses that require specialized financial solutions. The Company operates through four segments: Banking, Factoring, Asset Management and Corporate. Its community banking operations include a full suite of lending and deposit products and services focused on its local market areas. Its commercial finance products include factoring, asset-based lending, equipment lending, healthcare lending and premium finance products offered on a nationwide basis. The Company operates its business through various corporate entities, including TBK Bank, Advance Business Capital, LLC (doing business as Triumph Business Capital), Triumph Insurance Group, Inc. (Triumph Insurance) and Triumph Capital Advisors, LLC (Triumph Capital Advisors). The Factoring segment includes the operations of Triumph Business Capital with revenue derived from factoring services. The Banking segment includes the operations of TBK Bank, including loans originated under its Triumph Commercial Finance, Triumph Healthcare Finance and Triumph Premium Finance brands. The Banking segment also includes certain factored receivables, which are purchased by TBK Bank under its Triumph Commercial Finance brand as opposed to at Triumph Business Capital. The Asset Management segment includes the operations of Triumph Capital Advisors with revenue derived from fees for managing or providing other services related to collateralized loan obligation funds. The Corporate segment includes holding company financing and investment activities and management and administrative expenses to support the overall operations of the Company.

TBK Bank is a Texas state savings bank. As of December 31, 2016, TBK Bank operated retail branch networks in two geographic markets: a mid-western division consisting of 10 branches in the Quad Cities Metropolitan Area of Iowa and Illinois, together with seven other branches throughout central and northwestern Illinois and one branch in northeastern Illinois, and a western division consisting of 16 branches located throughout eastern Colorado and two branches in far western Kansas. It offers a range of financial products and services, including checking and savings accounts, debit cards, electronic banking, trust services and treasury management. Through TBK Bank, the Company originates a full suite of commercial and retail loans, including commercial real estate, general commercial, commercial agriculture, mortgage warehouse, one- to four-family residential and construction and development loans, primarily focused on customers in and around its primary market areas.

In addition, TBK Bank originates commercial finance products and services, including healthcare asset-based loans under its Triumph Healthcare Finance brand, asset-based loans, equipment loans and general factoring products under its Triumph Commercial Finance brand and premium finance loans under its Triumph Premium Finance brand. Triumph Business Capital, a subsidiary of TBK Bank, focuses on providing working capital financing through the purchase of accounts receivable, a product known as factoring. Triumph Insurance provides insurance brokerage services, primarily focused on the insurance needs of its commercial finance and agriculture lending clients. Triumph Capital Advisors provides investment management services for primarily institutional clients, focused on the management of collateralized loan obligations.

Lending Activities

The Company offers a range of lending and factoring products. Its business lending categories include commercial, commercial real estate, factoring, agriculture, construction and development, and mortgage warehouse facilities. It offers commercial loans to small-to-mid-sized businesses across a range of industries. These loans include general commercial and industrial loans, loans to purchase capital equipment and business loans for working capital and operational purposes. A portion of its commercial loan portfolio consists of specialty commercial finance products, including asset-based loans, equipment loans, healthcare asset-based loans, and premium finance loans. Under its Triumph Commercial Finance brand, it originates asset-based loans to borrowers to support general working capital needs. The Company originates equipment loans under its Triumph Commercial Finance brand. Under its Triumph Healthcare Finance brand, the Company originates healthcare asset-based loans, generally on secured credit facilities of $1 million to $20 million for healthcare service providers in the areas of skilled nursing, home healthcare, physical therapy and healthcare product delivery. The Company originates premium finance loans under its Triumph Premium Finance brand. These premium finance loans provide customized premium financing solutions for the acquisition of property and casualty insurance coverage.

The Company originates real estate loans to finance commercial property that is owner-occupied, as well as commercial property owned by real estate investors. As a part of its commercial finance product offerings, the Company offers factoring services to its customers, primarily in the transportation sector, with an increasing focus on other industries. The Company originates a range of loans to borrowers in the agriculture industry, including real estate loans secured by farmland, equipment financing for specific agriculture equipment, including irrigation systems, crop input loans primarily focused on corn, wheat and soybeans, and loans secured by cattle and other livestock. The Company originates these loans primarily in the areas surrounding its community banking markets in Iowa, Illinois, Colorado and Kansas. The Company offers loans to small-to-mid-sized businesses to construct owner-user properties, as well as loans to developers of commercial real estate investment properties and residential developments. It offers first and second mortgage loans to its individual customers primarily for the purchase of primary and secondary residences. The Company also originates personal loans for its retail banking customers. As of December 31, 2016, the Company's total loans amounted to $2,027.6 million.

Investment Activities

The Company's securities available for sale include the Unite States Government agency obligations; mortgage-backed securities, residential; asset backed securities; state and municipal; corporate bonds; small business Administration (SBA) pooled securities, and mutual fund. Its securities held to maturity include collateralized loan obligations securities. As of December 31, 2016, the Company's total securities available for sale amounted to $275 million and total securities held to maturity amounted to $0.3 million.

Sources of Funds

The Company offers depository products, including checking, savings, money market and certificates of deposit with a range of rates. Deposits at its bank subsidiary are insured by the Federal Deposit Insurance Corporation (FDIC) up to statutory limits. As of December 31, 2016, the Company had a network of 36 deposit-taking branch offices in its community banking markets. As of December 31, 2016, the Company's total deposits amounted to $2.01 billion.

Company Address

Triumph Bancorp Inc

12700 Park Central Dr Ste 1700
DALLAS   TX   75251-1517
P: +1214.3656900
F: +1214.2373197

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