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Mar 31, 2020
Triumph Financial Q1 2020 Earnings Report
Reported a net loss available to common stockholders and adopted CECL model.
Key Takeaways
Triumph Bancorp reported a net loss of $4.5 million for the first quarter of 2020, with diluted losses per share of $0.18. The company adopted the CECL model on January 1, 2020, and recorded a total credit loss expense of $20.3 million for the quarter.
Net loss available to common stockholders was $4.5 million, with diluted losses per share of $0.18.
Adopted Accounting Standard Update 2016-13, known as CECL, on January 1, 2020.
Recorded $20.3 million of total credit loss expense, with $17.4 million related to the loan portfolio.
Total loans held for investment increased by $126.0 million, or 3.0%, to $4.321 billion.