secwatch.observer — SEC 8-K summary
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Issuer:     Triumph Financial, Inc. (TFIN)
CIK:        0001539638
Form:       8-K
Filed at:   2023-07-20T23:59:59+00:00
Accession:  0001628280-23-025233
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Triumph Financial Q2 net income $6.8M ($0.29/sh), down from $1.74 YoY; freight recession impacts
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- Net income to common stockholders $6.8M, diluted EPS $0.29 vs $43.4M, $1.74 in Q2 2022.
- Factoring purchased volume $2.73B (-6.6% Q/Q, -32.1% YoY); active client count down 21.3% YoY.
- Payments revenue grew 17.6% Q/Q; EBITDA margin improved to -55%, ahead of year-end target of -40% to -60%.
- Banking segment income up 3% Q/Q; core deposits down ~$100M; total deposits up $254M driven by brokered CDs.
- TriumphPay expects EBITDA breakeven by end of 2024; company sticks to plan amid freight recession.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1539638/000162828023025233/0001628280-23-025233-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1539638/000162828023025233/tfin-20230720.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-025233

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