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Triumph Bancorp Completes Redemption of TARP Preferred Stock

January 05, 2015, 07:19 AM
Filed Under: Industry News

Triumph Bancorp, Inc. announced that it had completed the redemption of all of the outstanding Fixed Rate Cumulative Perpetual Preferred Stock, Series T1 and Series T2 (the "TARP Preferred Stock") issued by its wholly-owned subsidiary, National Bancshares, Inc. ("NBI"). The TARP Preferred Stock was redeemed for a total redemption price of $26.2 million, which reflects the aggregate liquidation amount of the TARP Preferred Stock and accrued dividends since the most recent dividend payment date. The redemption of the TARP Preferred Stock is not expected to impact net income to common shareholders in the fourth quarter of 2014, as the TARP Preferred Stock was carried, and was redeemed, at par value.

Headquartered in Dallas, Texas, Triumph Bancorp, Inc. is a financial holding company with a diversified line of community banking, specialty finance and asset management activities. Triumph conducts banking activities through its two wholly owned bank subsidiaries, Triumph Savings Bank, SSB and Triumph Community Bank, N.A. Banking operations include a full suite of lending and deposit products and services focused on our community banking markets, as well as commercial finance products including factoring, asset-based lending, equipment lending and healthcare lending products offered on a nationwide basis.

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