Triumph Financial Inc

For the period ended Jun 30, 2024. Filed Jul 17, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Jul 17, 2024

TFIN$61.58-2.4%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows

For the Six Months Ended June 30, 2024 and 2023

	Six Months Ended June 30,
	2024	2023
Cash flows from operating activities:
Net income	$6,905	$18,660
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	7,604	6,567
Net accretion on loans	(1,598)	(2,800)
Amortization of subordinated notes issuance costs	261	434
Amortization of junior subordinated debentures	302	286
Net (accretion) amortization on securities	(593)	(435)
Amortization of intangible assets	5,593	5,851
Software amortization	2,531	2,030
Deferred taxes, net	2,243	8,727
Credit loss expense (benefit)	10,051	5,256
Stock based compensation	7,066	6,201
Net (gains) losses on equity securities	(468)	(18)
Net OREO (gains) losses and valuation adjustments	16	—
Origination of loans held for sale	(3,495)	(1,392)
Proceeds from sale of loans originated or purchased for sale	1,368	1,320
Net (gains) losses on sale of loans	69	(3)
Net change in operating leases	312	(154)
(Increase) decrease in other assets	(22,774)	(43,040)
Increase (decrease) in other liabilities	(15,015)	1,472
Net cash provided by (used in) operating activities	378	8,962
Cash flows from investing activities:
Proceeds from sales of equity securities	—	783
Purchases of securities available for sale	(83,261)	(69,484)
Proceeds from sales of securities available for sale	—	4,000
Proceeds from maturities, calls, and pay downs of securities available for sale	43,194	18,911
Proceeds from maturities, calls, and pay downs of securities held to maturity	307	352
Purchases of loans held for investment	(2,503)	(18,842)
Proceeds from sale of loans	18,016	43,950
Net change in loans	(141,637)	(234,158)
Purchases of premises and equipment, net	(53,735)	(17,901)
Net proceeds from sale of OREO	64	—
(Purchases) redemptions of FHLB and other restricted stock, net	238	(13,847)
Acquired intangible assets	(2,920)	(3,042)
Net cash provided by (used in) investing activities	(222,237)	(289,278)
Cash flows from financing activities:
Net increase (decrease) in deposits	414,540	122,130
Increase (decrease) in customer repurchase agreements	—	(340)
Increase (decrease) in Federal Home Loan Bank advances	25,000	250,000
Preferred stock dividends	(1,603)	(1,603)
Stock option exercises, net	144	(52)
Proceeds from employee stock purchase plan common stock issuance	1,099	997
Purchase of treasury stock, net	(3,293)	(81,623)
Net cash provided by (used in) financing activities	435,887	289,509
Net increase (decrease) in cash and cash equivalents	214,028	9,193
Cash and cash equivalents at beginning of period	286,635	408,182
Cash and cash equivalents at end of period	500,663	417,375

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Six Months Ended June 30, 2024 and 2023

	Six Months Ended June 30,
	2024	2023
Supplemental cash flow information:
Interest paid	$33,824	$18,924
Income taxes paid, net	$646	$13,979
Cash paid for operating lease liabilities	$2,425	$2,763
Supplemental noncash disclosures:
Loans transferred to OREO	$43	$—
Loans held for investment transferred to loans held for sale	$16,388	$38,389
Lease liabilities arising from obtaining right-of-use assets	$2,382	$3,228

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.