Triumph Financial, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 23, 2024 at 04:13 pm EST
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Triumph Financial, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net interest income was USD 91.92 million compared to USD 100.72 million a year ago. Net income was USD 9.63 million compared to USD 17.56 million a year ago. Basic earnings per share from continuing operations was USD 0.38 compared to USD 0.69 a year ago. Diluted earnings per share from continuing operations was USD 0.37 compared to USD 0.67 a year ago.
For the full year, net interest income was USD 368.08 million compared to USD 400.49 million a year ago. Net income was USD 41.08 million compared to USD 102.31 million a year ago. Basic earnings per share from continuing operations was USD 1.63 compared to USD 4.06 a year ago. Diluted earnings per share from continuing operations was USD 1.61 compared to USD 3.96 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.