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Triumph Bancorp Completes Previously Announced Merger of Subsidiary Banks

October 02, 2015, 07:37 AM
Filed Under: Industry News

Triumph Bancorp, Inc. announced the completion of the merger of its two bank subsidiaries, Triumph Community Bank, N.A. into Triumph Savings Bank, SSB. In connection with the merger, Triumph Savings Bank, SSB, as the surviving organization, also changed its name to TBK Bank, SSB.

Triumph Bancorp previously announced its plans to merge its banking subsidiaries on May 26, 2015. As of June 30, 2015, Triumph Community Bank had total assets of $999.97 million, while Triumph Savings Bank had total assets of $477.13 million.

"We are very pleased to complete the merger of Triumph Community Bank and Triumph Savings Bank in such a timely manner," said Aaron P. Graft, Vice Chairman and Chief Executive Officer of Triumph Bancorp. "This merger allows us to improve our operational efficiencies and puts us in a solid position for future growth and expansion."

The bank's 18 branches and more than 30 ATMs throughout Illinois and Eastern Iowa will do business under the name Triumph Community Bank, a division of TBK Bank, SSB. The bank's two Dallas, Texas-based branches will do business under the name Triumph Savings Bank, a division of TBK Bank, SSB. The bank's specialty finance divisions, Triumph Commercial Finance, Triumph Healthcare Finance and Triumph Premium Finance, as well as its other subsidiaries including Triumph Business Capitial, Triumph Insurance Group, Inc. and Triumph Capital Advisors, LLC, will retain their names.

Headquartered in Dallas, Texas, Triumph Bancorp, Inc. is a financial holding company with a diversified line of community banking, commercial finance and asset management activities.

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