Triumph Bancorp Reports First Quarter Net Loss to Common Stockholders of $4.5 Million
Triumph Bancorp, Inc. (TBK)
Last triumph bancorp, inc. earnings: 4/20 04:07 pm
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US:NASDAQ Investor Relations:
ir.triumphbancorp.com
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Source: GlobeNewswire
DALLAS, April 20, 2020 (GLOBE NEWSWIRE) -- Triumph Bancorp, Inc. (Nasdaq: TBK) (“Triumph” or the “Company”) today announced earnings and operating results for the first quarter of 2020. As part of how we measure our results, we use certain non-GAAP financial measures to ascertain performance. These non-GAAP financial measures are reconciled in the section labeled “Metrics and non-GAAP financial reconciliation” at the end of this press release. 2020 First Quarter Highlights and Recent Developments For the first quarter of 2020, net loss available to common stockholders was $4.5 million. Diluted losses per share were $0.18. On January 1, 2020, we adopted Accounting Standard Update 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” commonly referred to as the Current Expected Credit Losses (“CECL”) model.For the quarter ended March 31, 2020, we recorded $20.3 million of total credit loss expense. $17.4 million
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