Triumph Bancorp

Trucking lender ‘cautiously optimistic’ market won’t get worse in 2022

Dallas-based Triumph Bancorp’s second-quarter earnings report reflected that the bank — a leading supplier of funds to the trucking industry through factoring — sees “a long runway of growth on the horizon” despite some uncertainties in the near term.

“While there is definitely softening on dry van lanes that are most closely associated with consumer demand, we are not seeing changes in tonnage or volumes on flatbed, refrigerated units or nonconsumer dry van lanes,” Aaron P. Graft, Triumph’s...

https://www.freightwaves.com/news/triumph-bancorp-keeps-growing-its-triumphpay-ecosystem-during-q2

TriumphPay’s new leaders ready to ‘break the archaic 30-day payment cycle’

Carrier payments platform TriumphPay, a division of TBK Bank SSB, announced Tuesday it had promoted Melissa Forman to president and Tim Valdez to chief operating officer.

TriumphPay’s new president, Melissa Forman. (Photo: TriumphPay)

Forman had served as senior vice president and chief strategy officer. Prior to joining TriumphPay as senior vice president and chief operations officer in 2019, she spent decades in logistics services and over seven years in developing fintech services for...

https://www.freightwaves.com/news/triumphpays-new-leaders-ready-to-break-the-archaic-30-day-payment-cycle

TriumphX aims to make its mark streamlining trucking payments

Dallas-based Triumph Bancorp. announced Wednesday the launch of TriumphX, a business unit aimed at streamlining freight financing options for carriers, shippers and brokers that need liquidity in order to move goods. 

TriumphX is a division of TBK Bank, the primary operating subsidiary of Triumph Bancorp. TriumphX will support the execution of Triumph Bancorp’s venture in transportation fintech, the company said in a release.

“We see massive opportunities to reshape the future of payments in...

https://www.freightwaves.com/news/triumphx-wants-to-streamline-trucking-payments

TriumphPay Audit onboarding customers; platform reduces industry payment inefficiency

TriumphPay announced that in January, the payment platform division of TBK Bank, SSB, had successfully beta tested TriumphPay’s full open payments network, leveraging recent technology investments to provide an undisclosed number of remittances between two payors and five payees from initial invoicing to final payment.

After TriumphPay acquired cloud-based automation software Hubtran in April for $97 million, its plan was to use that back-office technology to create a single, integrated payments...

https://www.freightwaves.com/news/triumphpay-audit-onboarding-customers-platform-reduces-industry-payment-inefficiency

TriumphPay calls out achievement of first fully automated factoring payments

TriumphPay, the payment and processing arm of Triumph Bancorp, has completed its first round of what it is calling “conforming transactions,” in which the infrastructure it has built organically and through the acquisition last year of HubTran completed a fully automated “soup to nuts” factoring payment.

CEO Aaron Graft took the occasion of the company’s fourth quarter 2021 earnings call Friday to publicly disclose the transactions, which have all been done this month. He likened it in terms of...

https://www.freightwaves.com/news/triumphpay-calls-out-achievement-of-first-fully-automated-factoring-payments

Triumph’s Graft: The concept is proved; on to producing revenue at TriumphPay

With another quarter under Triumph Bancorp’s belt, CEO Aaron Graft gave the world an update on the company’s plans to dominate the processing of factored payments.

The metrics poured out during a call with analysts. While a year ago, the focus of its analyst call might have been how Triumph Business Capital, its factoring arm, was performing, now the attention is overwhelmingly on TriumphPay, its rapidly expanding operation to process factored brokerage freight. Triumph Bancorp (NASDAQ: TBK) boug...

https://www.freightwaves.com/news/triumphs-graft-the-concept-is-proved-on-to-producing-revenue-at-triumphpay

TriumphPay reaches $16B payment milestone, adds factoring veteran to leadership

TriumphPay, a division of TBK Bank and member of Triumph Bancorp Inc. Group (NASDAQ:TBK), announced on Tuesday it has exceeded $16 billion in annualized payments volume for Q3 of 2021.

The company works with carriers, shippers, brokers and factors to help process, settle and manage transportation payments in its payment platform.

After acquiring cloud-based automation software HubTran in April, the company has been able to leverage AI and machine-learning techniques in its platform to help supply...

https://www.freightwaves.com/news/triumphpay-reaches-16b-payment-milestone-adds-factoring-veteran-to-leadership

A transformed Triumph Bancorp talks its hot market and future in call with analysts

The second quarter earnings call of Triumph Bancorp (NASDAQ: TBK) was notable not so much for the financial numbers that were discussed. Rather, it served as a sort of kickoff to a company that has been radically transformed in the past year, with two key acquisitions that make the topics of discussion on such a call much different than what would have been discussed just 12 months ago.

One acquisition grew the size of the bank’s factoring book: the July 2020 purchase of the factoring business...

https://www.freightwaves.com/news/a-transformed-triumph-bancorp-talks-its-hot-market-and-future-in-call-with-analysts

A bigger Triumph reports a minuscule level of charge-offs for Q2

Triumph Bancorp’s second-quarter earnings report reflected that the bank — a leading supplier of funds to the trucking industry through factoring — is having no trouble collecting on its loans.
It is having strong performance on its loans even as it makes more of them and at higher average amounts. .

Triumph, in releasing its second-quarter earnings Wednesday afternoon, said its charge-off rate for the quarter was a mere 0.04%. A year ago, during a quarter that included the heart of the pandemic...

https://www.freightwaves.com/news/a-bigger-triumph-reports-a-minuscule-level-of-charge-offs-for-q2

Major trucking lender Triumph’s earnings reflect robust trucking market

Triumph Bancorp (NASDAQ: TBK), a major lender to the trucking industry through its factoring arm, reported strong quarterly earnings with data that reflected a healthy freight market. 

The company’s generally accepted accounting principles earnings per share of $1.32 topped industry forecasts by 41 cents, according to SeekingAlpha. Revenue was up 39% year on year and beat consensus forecasts by almost $8 million, SeekingAlpha said. 

The impact of Triumph’s acquisition of the factoring book at...

https://s29755.pcdn.co/news/major-trucking-lender-triumphs-earnings-reflect-robust-trucking-market

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.