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Buy (2.60 out of 4)
100th percentile
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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Saturday, April 20, 1:31 AM
Slide #121. Triumph Bancorp, Inc. — Preferred Stock Offering
| Company: |
Triumph Bancorp, Inc. (TBK) |
| Date announced: |
6/16/2020 |
| Shares Offered: |
1,800,000 |
| Date of Pricing: |
6/16/2020 |
| Price Per Share: |
$25.00 |
| Preferred Stock Offering Details: |
Triumph Bancorp, Inc. (Nasdaq: TBK) ("the Company") announced the pricing of its underwritten public offering (the "Offering") of 1,800,000 depositary shares, each of which represents a 1/40th interest in a share of its 7.125% Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock, $1,000 liquidation preference per share (equivalent to $25.00 per depositary share), for gross proceeds of $45.0 million. Net proceeds to the Company, after deducting the underwriting discount but before deducting estimated offering expenses and fees payable by the Company, are expected to be $43.6 million. The Company has granted the underwriters an option, exercisable in whole or in part for 30 days, to purchase up to an additional 270,000 depositary shares at the public offering price, less the underwriting discount. |
Triumph Bancorp is a financial holding company. Through its bank subsidiary, TBK Bank, SSB, Co. provides banking services, commercial finance product lines and lending product lines. Co.'s banking offerings include a suite of lending and deposit products and services. Co. originates a suite of commercial and retail loans including commercial real estate loans, construction and development loans, residential real estate loans, commercial agriculture, general commercial loans, and consumer loans primarily focused on customers in and around its community banking markets. Co. provides depository products, including checking, savings, money market and certificates of deposit with various rates.
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