Debt Securities Debt securities have been classified in the financial statements as available for sale or held to maturity. The following table summarizes the amortized cost, fair value, and allowance for credit losses of debt securities and the corresponding amounts of gross unrealized gains and losses of available for sale securities recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses of held to maturity securities: | --- | --- | --- | --- | --- | --- | --- ...

Exhibit 99.1 For the first quarter, we earned net income to common stockholders of $3.4 million, or $0.14 per diluted share. Here are a few of the most important things I believe investors should note. These include both thoughts about the quarter and thoughts about the future. • Earnings headwinds are real, but they are not forever. In our last letter, I addressed the two topics above. I also mentioned that we thought freight would be softer, interest rates would remain high, and credit would thus be affec ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________________________ FORM 10-K _____________________________________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Com ...

Triumph Financial, Inc. (NASDAQ:TFIN) Q4 2023 Earnings Conference Call January 24, 2024 10:30 AM ET Company Participants Luke Wyse - SVP, Finance & IR Aaron Graft - Founder, Vice Chairman, & CEO Brad Voss - EVP & CFO Melissa Forman - President Todd Ritterbusch - President, TBK Bank, SSB Tim Valdez - President Conference Call Participants Joseph Yanchunis - Raymond James Frank Schiraldi - Piper Sandler Gary Tenner - D.A. Davidson Michael Perito - KBW Thomas Wendler - Stephens Luke Wyse Good morning. It's 9:3 ...

Triumph Financial, Inc. (NASDAQ:TFIN) Q3 2023 Earnings Conference Call October 20, 2023 10:30 AM ET Company Participants Luke Wyse - Senior Vice President, Finance and Investor Relations Aaron Graft - Founder, Vice Chairman, and Chief Executive Officer Melissa Forman - President Todd Ritterbusch - President,TBK Bank, SSB Tim Valdez - President Brad Voss - Executive Vice President and Chief Financial Officer Conference Call Participants Michael Perito - KBW Thomas Wendler - Stephens Gary Tenner - D.A. Davids ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ FORM 10-Q ___________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commissi ...

Financial Data and Key Metrics Changes - The company reported a revenue run rate of just under $43 million, up from $38 million at the end of the last quarter, indicating a significant increase in annualized revenue [24][54]. - Earnings were impacted by a freight recession and rising funding costs, leading to a decrease in earnings compared to prior periods [4][14]. Business Line Data and Key Metrics Changes - The Payments segment demonstrated profitable growth despite a challenging market environment, with expectations to capitalize on future market improvements [5][14]. - The Corporate segment expenses increased noticeably, attributed to support functions such as technology, finance, and human resources [27]. Market Data and Key Metrics Changes - The freight market is currently experiencing a recession, with rates approximately 17% below breakeven for many carriers [85]. - The company has seen a decrease in freight under management from $37 billion to $35 billion, despite a 6% increase in transaction volume [83]. Company Strategy and Development Direction - The company aims to position TriumphPay as the payments network for trucking, focusing on supply chain financing as a key growth area [14][17]. - There is a strategy to partner with and invest in technology companies to enhance competitive capabilities against legacy players [49][50]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth, stating that the current freight recession will not last indefinitely and that they are prepared to support clients through this period [86]. - The company is focused on maintaining a strong capital position to navigate uncertainties and pursue growth opportunities [160]. Other Important Information - The company has a significant amount of payment volume expected to come online, estimated at roughly $9 billion in the next few quarters [40]. - The management highlighted the importance of data and technology in enhancing operational efficiency and customer value [57][82]. Q&A Session Summary Question: Can you discuss the term of broker deposits and funding profile? - Management indicated that broker deposits generally have terms ranging from one month to a year, and the company is leveraging its own deposits for supply chain financing [19][20]. Question: What is the expected payment and audit volume from new customer wins? - The company expects a significant increase in payment volume from new customer wins, with a current revenue run rate of just under $43 million [24][40]. Question: Can you provide insights on the increase in Corporate segment expenses? - The increase in Corporate segment expenses is due to support functions for the enterprise, including executive team and technology costs [27]. Question: What are the long-term impacts of adding Highway and Trax? - Management believes that these investments will enhance the network's capabilities and generate significant data and float over time [50][51]. Question: How is the company managing its equipment finance portfolio amid the freight recession? - The company is requiring down payments to maintain safe long-term loan values and is working with long-term relationships to manage credit performance [157][159]. Question: What is the company's approach to share buybacks? - The company maintains a consistent appetite for buybacks, evaluating opportunities based on long-term value creation and capital needs [141][169].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ FORM 10-Q ___________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission Fi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ FORM 10-Q ___________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission F ...

Legal Matters - The company is involved in litigation with the United States Postal Service (USPS) regarding invoices totaling approximately $19.4 million, which could materially impact its financial condition if the court rules against the company[282]. Interest Rate Risk Management - The company emphasizes the origination of shorter duration loans and variable rate loans to limit negative exposure to interest rate increases[496]. - As of December 31, 2022, a 400 basis point increase in interest rates could lead to a 19.4% increase in net interest income over the following 12 months[494]. - The economic value of equity at risk could decrease by 20.0% with a 400 basis point increase in interest rates as of December 31, 2022[495]. - The company does not typically enter into derivative contracts for managing interest rate risk but may consider doing so in the future[492]. Internal Control and Financial Reporting - The company maintains effective internal control over financial reporting as of December 31, 2022, according to independent auditors[500]. - The company is subject to the Sarbanes-Oxley Act, requiring annual management reports on the effectiveness of internal control over financial reporting[278]. - The company’s internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting[504]. - The company faces potential risks from material weaknesses in internal control, which could adversely affect investor confidence and stock price[279]. Financial Performance - Net interest income for 2022 was $400.49 million, an increase of 8.4% from $369.13 million in 2021[515]. - The company reported a net income of $102.31 million for 2022, down from $112.97 million in 2021, representing a decrease of about 9.4%[515]. - Total noninterest income increased to $84.07 million in 2022, compared to $54.50 million in 2021, marking a significant rise of approximately 54.3%[515]. - The net income available to common stockholders for 2022 was $99.11 million, compared to $109.77 million in 2021, indicating a decrease of approximately 9.7%[515]. - Basic earnings per common share for 2022 was $4.06, down from $4.44 in 2021, reflecting a decrease of about 8.6%[515]. Asset and Liability Management - Total assets decreased from $5,956.25 million in 2021 to $5,333.78 million in 2022, reflecting a decline of approximately 10.5%[513]. - The company’s total liabilities decreased from $5,097.39 million in 2021 to $4,444.81 million in 2022, a reduction of approximately 12.8%[513]. - The Allowance for Credit Losses (ACL) was $42.8 million, consisting of $18.2 million for collateral dependent loans and $24.6 million for loans evaluated on a pool basis[508]. Cash Flow and Financing Activities - Total cash provided by operating activities in 2022 was $74,487,000, down from $136,959,000 in 2021[522]. - The net cash used in financing activities for 2022 was $(721,865,000), compared to $(145,830,000) in 2021[523]. - The company reported a net cash provided by investing activities of $672,382,000 in 2022, a significant increase from $77,656,000 in 2021[523]. Acquisitions and Rebranding - Triumph Financial, Inc. completed a rebranding effort on December 1, 2022, changing its name from Triumph Bancorp, Inc. and its factoring subsidiary's name from Triumph Business Capital LLC to Triumph Financial Services LLC[527]. - HubTran, Inc. was acquired for a total consideration of $97,096,000 in cash, resulting in recognized goodwill of $70,441,000[648]. - The TFS Acquisition involved cash consideration of $108,375,000 and stock valued at approximately $13,942,000, with contingent consideration of up to $9,900,000[651]. Revenue Recognition and Segments - The Company has four reportable segments: Banking, Factoring, Payments, and Corporate, with each segment contributing to overall revenue through various services[618]. - The Payments segment generates revenue from transaction fees and interest income on factored receivables related to invoice payments, enhancing liquidity options for freight brokers[621]. - The Company recognizes revenue from contracts with customers in accordance with ASC Topic 606, ensuring performance obligations are satisfied as services are rendered[613]. Securities and Investments - The fair value of equity securities with readily determinable fair values decreased from $5,504,000 in 2021 to $5,191,000 in 2022, reflecting unrealized losses of $(313,000) in 2022[672]. - Total available for sale securities had an amortized cost of $263,519,000 and a fair value of $254,504,000 as of December 31, 2022, with gross unrealized losses of $(9,442,000)[676]. - The company evaluates securities in unrealized loss positions based on credit-related and noncredit-related factors[682].