Page 1

TriumphFinancial Triumph Bancorp Reports Second Quarter Net Income to Common Stockholders Of $ 27.2 Million July 21 , 2021 DALLAS , July 21 , 2021 ( GLOBE NEWSWIRE ) -- Triumph Bancorp , Inc. ( Nasdaq : TBK ) ( " Triumph " or the " Company " ) today announced earnings and operating results for the second quarter of 2021 . As part of how we measure our results , we use certain non - GAAP financial measures to ascertain performance . These non - GAAP financial measures are reconciled in the section labeled " Metrics and non - GAAP financial reconciliation " at the end of this press release . 2021 Second Quarter Highlights • For the second quarter of 2021 , net income to common shareholders was $ 27.2 million , and diluted earnings per share were $ 1.08 . • Adjusted diluted earnings per share were $ 1.17 for the second quarter of 2021 , which exclude transaction costs related to the acquisition of HubTran , Inc. , net of taxes . • Net interest income was $ 90.3 million . • Non - interest income was $ 13.9 million . • Non - interest expense was $ 70.8 million , including $ 3.0 million of transaction costs related to the HubTran , Inc. acquisition . • Net interest margin was 6.47 % . Yield on loans and the average cost of our total deposits were 7.77 % and 0.20 % , respectively . • Credit loss expense for the quarter ended June 30 , 2021 was a benefit of $ 1.8 million primarily due to improvements in our macroeconomic forecasts and changes in the volume and mix of our underlying loan portfolio . • Net charge - offs were $ 0.4 million , or 0.01 % of average loans , for the quarter . • The total dollar value of invoices purchased by Triumph Business Capital was $ 3.068 billion with an average invoice size of $ 2,189 . The transportation average invoice size for the quarter was $ 2,090 . • TriumphPay processed 3,165,119 invoices paying carriers a total of $ 3.427 billion . • On June 1 , 2021 , we , through Triumph Pay , a division of our wholly - owned subsidiary TBK Bank , SSB , acquired HubTran , Inc. , a cloud - based provider of automation software for the transportation industry's back - office , for $ 97 million in cash . As part of the acquisition , we acquired $ 27.3 million of intangible assets and $ 73.7 million of goodwill . Balance Sheet Total loans held for investment decreased $ 253.3 million , or 5.0 % , during the second quarter to $ 4.831 billion at June 30 , 2021. Average loans held for investment for the quarter decreased $ 35.5 million , or 0.7 % , to $ 4.799 billion . Total deposits were $ 4.725 billion at June 30 , 2021 , a decrease of $ 64.2 million , or 1.3 % , in the second quarter of 2021. Non - interest - bearing deposits accounted for 38 % of total deposits and non - time deposits accounted for 79 % of total deposits at June 30 , 2021 . Asset Quality and Allowance for Credit Loss Our nonperforming assets ratio at June 30 , 2021 was 0.97 % . Approximately 2 basis points of this ratio at June 30 , 2021 consisted of $ 1.5 million of the acquired Over - Formula Advance portfolio which represents the portion that is not covered by CVLG's indemnification . An additional 32 basis points of this ratio at June 30 , 2021 consisted of $ 19.4 million of the Misdirected Payments . Over - Formula Advances and Misdirected Payments are discussed in greater detail below . Our past - due loan ratio at June 30 , 2021 was 2.28 % . Approximately 21 basis points of this ratio at June 30 , 2021 consisted of $ 10.1 million of past due factored receivables related to the Over - Formula Advance portfolio . An additional 40 basis points of this ratio at June 30 , 2021 consisted of the $ 19.4 million of Misdirected Payments , as discussed below . Our ACL as a percentage of loans held for investment increased 1 basis point during the quarter to 0.95 % at June 30 , 2021 . CARES Act and Paycheck Protection Program