TRIUMPH BANCORP : ANNOUNCES COMPLETION OF $50 MILLION STOCK REPURCHASE PROGRAM AND THE AUTHORIZATION OF AN ADDITIONAL $75 MILLION REPURCHASE PROGRAM - Form 8-K
May 23, 2022 at 08:26 am
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TRIUMPH BANCORP ANNOUNCES COMPLETION OF $50 MILLION STOCK REPURCHASE PROGRAM AND THE AUTHORIZATION OF AN ADDITIONAL $75 MILLION REPURCHASE PROGRAM
DALLAS - May 23, 2022 (GLOBE NEWSWIRE) - Triumph Bancorp, Inc. (Nasdaq: TBK) ("Triumph" or the "Company") announced that it had completed its $50 million stock repurchase program authorized on February 7, 2022, repurchasing a total of 709,795 shares of its common stock into treasury stock at an average price of $70.41 per share, and that its Board of Directors had authorized an additional share repurchase program of up to $75 million of the Company's common stock. The Company may repurchase shares from time to time in open market transactions or through privately negotiated transactions at the Company's discretion. The amount, timing and nature of any share repurchases will be based on a variety of factors, including the trading price of the Company's common stock, applicable securities laws restrictions, regulatory limitations and market and economic factors. The repurchase program is authorized for a period of up to one year and does not require the Company to repurchase any specific number of shares. The repurchase program may be modified, suspended or discontinued at any time, at the Company's discretion.
This press release is for informational purposes only and does not constitute an offer to sell or the solicitation to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Triumph
Triumph Bancorp, Inc. (Nasdaq: TBK) is a financial holding company headquartered in Dallas, Texas, offering a diversified line of payments, factoring, and banking services. www.triumphbancorp.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such statements are predictions and that actual events or results may differ materially. Triumph's expected financial results or other plans are subject to a number of risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" and the forward-looking statement disclosure contained in the Company's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 14, 2022. Forward-looking statements speak only as of the date made, and Triumph undertakes no duty to update the information.
Senior Vice President, Director of Corporate Communication
atavackoli@tbkbank.com
214-365-6930
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Triumph Bancorp Inc. published this content on 23 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 May 2022 12:25:02 UTC.
Triumph Financial, Inc. is a financial holding company. The Company's segments include Banking, Factoring and Payments. The Banking segment includes the operations of TBK Bank, which offers products and services that are focused on serving the local communities in which it operates and creating full banking relationships with both personal and commercial clients. TBK Bank operates retail branch networks in three geographic markets, including a mid-western division, a western division, and a mountain division. Its traditional banking offerings include a full suite of lending and deposit products and services. The Factoring segment includes the operations of Triumph Financial Services, which offers factoring services to its customers across a variety of industries with a focus on transportation factoring. The Payments segment includes the operations of TBK Bank's TriumphPay division, which is the payments network for presentment, audit, and payment of over-the-road trucking invoices.
TRIUMPH BANCORP : ANNOUNCES COMPLETION OF $50 MILLION STOCK REPURCHASE PROGRAM AND THE AUTHORIZATION OF AN ADDITIONAL $75 MILLION REPURCHASE PROGRAM - Form 8-K