Triumph Bancorp (TBK) Tops Q3 EPS by 3c, Beat on Revenues

Triumph Bancorp (NASDAQ: TBK) reported Q3 EPS of $0.47, $0.03 better than the analyst estimate of $0.44. Revenue for the quarter came in at $45.14 million versus the consensus estimate of $44.54 million.

2017 Third Quarter Highlights

• For the third quarter of 2017, net income was $9.8 million and net income available to common stockholders was $9.6 million, compared to net income of $9.7 million and net income available to common stockholders of $9.5 million for the quarter ended June 30, 2017.
• Diluted earnings per share were $0.47 for the quarter ended September 30, 2017, compared to $0.51 for the quarter ended June 30, 2017. Earnings per share were impacted by our public offering of 2.53 million shares of our common stock on August 1, 2017. Our net proceeds from the offering, after deducting the underwriting discount and offering expenses, were $65.5 million.
• Total loans held for investment increased $130.4 million, or 5.7%, to $2.425 billion at September 30, 2017, compared to $2.295 billion at June 30, 2017.
• Non-performing assets to total assets decreased to 1.42% at September 30, 2017 from 1.50% at June 30, 2017. Net charge-offs to average loans decreased to 0.00% for the quarter ended September 30, 2017, compared to 0.03% for the quarter ended June 30, 2017.
• Net interest margin (“NIM”) was 5.90% for the quarter ended September 30, 2017, compared to 6.16% for the quarter ended June 30, 2017. Adjusted NIM, which excludes loan discount accretion, was 5.69% for the quarter ended September 30, 2017, compared to 5.70% for the quarter ended June 30, 2017.

For earnings history and earnings-related data on Triumph Bancorp (TBK) click here.

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