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].

Triumph Bancorp, Inc. (TBK) Q3 2022 Results Earnings Conference Call October 20, 2022 8:00 AM ET Company Participants Aaron Graft - Founder, Vice Chairman, and Chief Executive Officer Melissa Forman - President, TriumphPay Geoff Brenner - Chief Executive Officer, Triumph Business Capital Brad Voss - Executive Vice President and Chief Financial Officer Conference Call Participants Matt Olney - Stephens, Inc. Gary Tenner - D.A. Davidson & Co. Brad Milsaps - Piper Sandler & Co. Joseph Yanchunis - Raymond James ...

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 (I.R.S. Employer Identification No.) 12700 Park Central Drive, Suite 1700 Dallas, Texas 75251 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transitio ...

Triumph Bancorp, Inc. (TBK) Q2 2022 Earnings Conference Call July 21, 2022 8:00 AM ET Company Participants Aaron Graft – Vice Chairman and Chief Executive Officer Geoff Brenner – Chief Executive Officer, Triumph Business Capital Melissa Forman – President of TriumphPay Brad Voss – Chief Financial Officer Conference Call Participants Michael Rose – Raymond James Matt Olney – Stephens Steve Moss – B. Riley Brad Milsaps – Piper Sandler Gary Tenner – D.A. Davidson Unidentified Company Representative Good mornin ...

Financial Performance - For the three months ended June 30, 2022, net income available to common stockholders was $43.4 million, or $1.74 per diluted share, compared to $27.2 million, or $1.08 per diluted share for the same period in 2021, representing a 60% increase in net income [234]. - Net income for the three months ended June 30, 2022, was $44.2 million, an increase of $16.2 million compared to $28.0 million for the same period in 2021 [283]. - For the six months ended June 30, 2022, net income was $68.5 million, an increase of $6.6 million compared to $61.9 million for the same period in 2021 [346]. - Adjusted net income for the three months ended June 30, 2021, was $30.3 million after accounting for $3.0 million in transaction costs related to the HubTran acquisition [284]. - Adjusted net income for the six months ended June 30, 2022, increased by $4.3 million, driven by a $31.1 million rise in noninterest income and a $28.2 million increase in net interest income [347]. Revenue Breakdown - The company's Banking segment generated 43% of total revenue, the Factoring segment generated 48%, and the Payments segment generated 8% for the six months ended June 30, 2022 [233]. - Noninterest income increased by $34.4 million, while net interest income rose by $11.1 million for the three months ended June 30, 2022 [284]. - Total revenue for the three months ended June 30, 2022, was $14.481 million, a significant increase of 285.5% from $3.758 million in the same period of 2021 [339]. - Total noninterest income increased by $31.1 million, or 110.3%, for the six months ended June 30, 2022, reaching $59.3 million [376]. Asset and Equity Position - As of June 30, 2022, the company had total assets of $5.956 billion, total loans held for investment of $4.435 billion, total deposits of $4.781 billion, and total stockholders' equity of $874.3 million [228]. - Total stockholders' equity increased by $15.4 million during the six months ended June 30, 2022, primarily due to net income, despite treasury stock purchases [238]. - Total stockholders' equity as of June 30, 2022, was $874.3 million, up from $858.9 million at the end of 2021 [282]. - Tangible book value per share increased to $22.84 as of June 30, 2022, compared to $21.34 at the end of 2021 [282]. Loan and Credit Quality - Total loans held for investment decreased by $432.2 million during the six months ended June 30, 2022, with Banking loans decreasing by 10.4% and Factoring factored receivables decreasing by 6.2% [236]. - Nonperforming loans to total loans remained stable at 0.95% as of June 30, 2022 [280]. - The allowance for credit loss (ACL) on loans was $43.4 million as of June 30, 2022, representing an ACL to total loans ratio of 0.98%, up from 0.87% as of December 31, 2021 [305]. - Credit loss expense for the three months ended June 30, 2022, was $2.9 million, compared to a benefit of $1.8 million in the same period of 2021 [275]. Operational Efficiency - The efficiency ratio improved to 59.23% for the three months ended June 30, 2022, compared to 67.96% in the same period of 2021 [275]. - The company reported a net noninterest expense to average assets ratio of 2.76% for the three months ended June 30, 2022, compared to 3.55% for the same period in 2021 [281]. - Noninterest expense increased by $17.8 million, or 25.2%, totaling $88.61 million for the three months ended June 30, 2022 [313]. Investment and Acquisitions - The acquisition of HubTran, Inc. for $97 million in cash is expected to enhance TriumphPay's capabilities in the trucking industry, shifting the focus from interest income to fee revenue [259][260]. - The acquisition of HubTran has allowed the company to shift its strategy towards a fee revenue model, enhancing its payment capabilities and creating a fully integrated payments network for the trucking industry [344]. - The company recognized a total loss on impairment of warrants of $3.2 million related to its investment in Warehouse Solutions Inc. due to changes in its investment structure [250]. Market and Industry Trends - The trucking transportation segment experienced steady volumes despite a slight decline in utilization, with spot rates continuing a slow decline due to rising diesel prices [262][264]. - The number of invoices processed increased by 38.7% from 3,165,119 in Q2 2021 to 4,388,711 in Q2 2022, while the amount of payments processed rose by 76.1% from $3.427 billion to $6.034 billion [340]. - The average invoice size in the Factoring segment increased by 6.5% to $2,332 for the three months ended June 30, 2022, up from $2,189 in the same period of 2021 [334]. Tax and Regulatory Compliance - The effective tax rate increased to 24% for the three months ended June 30, 2022, compared to 20% for the same period in 2021 [315]. - The company maintains access to multiple sources of liquidity, with all capital ratios exceeding regulatory requirements as of June 30, 2022 [270].

Financial Data and Key Metrics Changes - For Q1 2022, the company reported net income of $23.5 million, or $0.93 per diluted share, indicating a strong performance despite typical seasonality [5] - TriumphPay processed approximately $5.7 billion in payments, an 8.8% increase from the previous quarter and a 147.7% increase from Q1 2021 [8] - Triumph business capital's dollar volume of invoices purchased was $4.04 billion, a 62.2% increase over Q1 2021 [11] Business Line Data and Key Metrics Changes - TriumphPay processed about 4 million invoices, paying just under 127,000 distinct carriers, with an annual run rate payment volume exceeding $24 billion [8] - Triumph business capital purchased approximately 1.6 million invoices, down 3.9% from the prior quarter but up 34.9% from Q1 2021 [11] - The average transportation invoice size increased to $2,401, up $110 from Q4 2021 [11] Market Data and Key Metrics Changes - The company noted a modest pullback in volume but maintained elevated invoice prices, with April month-to-date average transportation invoice size around $2,300 [12] - There has not been a significant drop-off in freight tonnage, despite media narratives suggesting an imminent freight recession [13][14] Company Strategy and Development Direction - The company is focused on establishing a ubiquitous payments network for the trucking industry, narrowing its operational focus to transportation-related businesses [20] - Discussions are ongoing to sell 15 TBK Bank branches, reflecting a strategic shift towards transportation and simplifying the operating model [18][19] - The company plans to continue investing in technology and personnel to accelerate TriumphPay integration and development [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving revenue targets despite potential market challenges, maintaining a revenue outlook of $240 million for Triumph Business Capital in 2022 [59] - The company anticipates that any market weakness could create opportunities for TriumphPay, as clients seek cost-saving solutions [16] - Management acknowledged the need to optimize expenses in the future but emphasized the importance of stability and feature development for TriumphPay at this stage [67] Other Important Information - The company added 15,000 new registered carriers in Q1, bringing the total to over 106,000 [11] - The company expects Q2 expenses to be around $85 million, including costs related to the disposal group [17] Q&A Session Summary Question: What percentage of invoice costs is related to fuel? - Management indicated that roughly 40% of the cost of an invoice is associated with fuel, but it is difficult to break it out specifically due to the nature of pricing in the spot market [27] Question: What is the expected ramp-up for fully automated conforming transactions? - Management noted that they ended Q1 with around 1,600 transactions per day and are moving towards 2,000 transactions per day as more Tier 1 clients come online [28][29] Question: How does the company view the potential for a freight recession? - Management stated that they do not foresee significant changes in their operations and would continue to serve customers effectively, even in a recession [40] Question: What is the strategy regarding the non-transportation factoring business? - Management explained that exiting the non-transportation segment allows them to focus on their core competencies in transportation, which they understand well [46] Question: How does the company plan to balance M&A and stock repurchases? - Management indicated that they prioritize investments that advance TriumphPay's goals but are open to stock repurchases if suitable opportunities do not arise [72]

April 20, 2022 Q1 2022 Earnings Release ╬TRIUMPH DISCLAIMER FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements. Any statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. You can identify forward-looking statements by the use of forward-looking terminology such as "believes," "expects," "could," "may," "will," "should," "seeks," "likely," "intends," " ...

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, 2022 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 ...