Triumph Financial Q2 2020 Earnings Report

Reported net income to common stockholders of $13.4 million.

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%.