Triumph Financial, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 19, 2023 at 04:16 pm
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Triumph Financial, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 91.33 million compared to USD 98.27 million a year ago. Net income was USD 12.79 million compared to USD 16.23 million a year ago. Basic earnings per share from continuing operations was USD 0.52 compared to USD 0.64 a year ago. Diluted earnings per share from continuing operations was USD 0.51 compared to USD 0.62 a year ago.
For the nine months, net interest income was USD 276.16 million compared to USD 299.78 million a year ago. Net income was USD 31.45 million compared to USD 84.75 million a year ago. Basic earnings per share from continuing operations was USD 1.25 compared to USD 3.36 a year ago. Diluted earnings per share from continuing operations was USD 1.23 compared to USD 3.28 a year ago.
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.