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TriumphFinancial Triumph Bancorp Reports Third Quarter Net Income to Common Stockholders of $ 23.6 Million October 20 , 2021 DALLAS , Oct. 20 , 2021 ( GLOBE NEWSWIRE ) -- Triumph Bancorp , Inc. ( Nasdaq : TBK ) ( “ Triumph ” or the “ Company ” ) today announced earnings and operating results for the third 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 Third Quarter Highlights • For the third quarter of 2021 , net income to common shareholders was $ 23.6 million , and diluted earnings per share were $ 0.94 . • Net interest income was $ 91.8 million . • Non - interest income was $ 12.1 million . • Non - interest expense was $ 72.8 million . • Net interest margin was 6.69 % . Yield on loans and the average cost of our total deposits were 7.92 % and 0.16 % , respectively . • Credit loss expense for the quarter ended September 30 , 2021 was a benefit of $ 1.2 million . • Net charge - offs were $ 3.7 million , or 0.08 % of average loans , for the quarter . • We recognized a downward adjustment to third quarter interest income of $ 3.5 million related to certain factored receivables . The majority of this adjustment represents a timing difference for revenue that will be recognized in future periods . This adjustment will have minimal impact on subsequent quarters . • The total dollar value of invoices purchased by Triumph Business Capital was $ 3.532 billion with an average invoice size of $ 2,300 . The transportation average invoice size for the quarter was $ 2,195 . • Triumph Pay processed 3,760,948 invoices paying carriers a total of $ 4.191 billion . Balance Sheet Total loans held for investment decreased $ 48.5 million , or 1.0 % , during the third quarter to $ 4.783 billion at September 30 , 2021. Average loans held for investment for the quarter decreased $ 27.9 million , or 0.6 % , to $ 4.771 billion . Total deposits were $ 4.823 billion at September 30 , 2021 , an increase of $ 97.1 million , or 2.1 % , in the third quarter of 2021. Non - interest - bearing deposits accounted for 42 % of total deposits and non - time deposits accounted for 84 % of total deposits at September 30 , 2021 . Asset Quality and Allowance for Credit Loss Our nonperforming assets ratio at September 30 , 2021 was 0.86 % . Approximately 2 basis points of this ratio at September 30 , 2021 consisted of $ 1.4 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 September 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 September 30 , 2021 was 2.31 % . Approximately 21 basis points of this ratio at September 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 September 30 , 2021 consisted of the $ 19.4 million of Misdirected Payments , as discussed below . Our ACL as a percentage of loans held for investment decreased 9 basis point during the quarter to 0.86 % at September 30 , 2021 . CARES Act and Paycheck Protection Program As of September 30 , 2021 , our balance sheet reflected deferrals on outstanding loan balances of $ 32.2 million to assist customers impacted by COVID - 19 . Modifications related to the COVID - 19 pandemic and qualifying under the provisions of Section 4013 of the CARES Act are not considered troubled debt restructurings . As of September 30 , 2021 , these deferred balances carried accrued interest of $ 0.1 million . As of September 30 , 2021 , we carried 815 PPP loans representing a balance of $ 87.4 million classified as commercial loans . We recognized