Triumph Financial Q2 2020 Earnings Report
Key Takeaways
Triumph Bancorp reported a net income available to common stockholders of $13.4 million for the second quarter of 2020, with diluted earnings per share of $0.56. The company recorded a total credit loss expense of $13.6 million and managed short-term deferrals on loan balances of $571.8 million to assist customers impacted by COVID-19. The balance sheet reflected a growth in total loans held for investment and an increase in total deposits.
Net income available to common stockholders was $13.4 million, with diluted earnings per share of $0.56.
Adjusted diluted earnings per share were $0.25, excluding the gain on sale of Triumph Premium Finance, net of taxes.
Total credit loss expense was $13.6 million, including $11.0 million related to the loan portfolio.
Net interest margin was 5.11%.
Triumph Financial
Triumph Financial
Forward Guidance
The earnings report does not contain specific forward guidance.