TBK Bank Completes Acquisition of 9 Independent Bank Branches


DALLAS, Oct. 06, 2017 (GLOBE NEWSWIRE) -- Triumph Bancorp, Inc. (Nasdaq:TBK), today announced that its wholly-owned subsidiary, TBK Bank, SSB completed its acquisition of 9 branch locations in Colorado from Independent Bank, a subsidiary of Independent Bank Group, Inc. (Nasdaq:IBTX). TBK Bank purchased approximately $99 million in loans and assumed approximately $162 million in deposits associated with the branches for an aggregate deposit premium of approximately $6.8 million or 4.2%.

The following is a list of the 9 branches acquired in the transaction by TBK Bank.

  • 615 W 8th Avenue, Yuma, Colorado 80759
  • 102 N Washington Street, Otis, Colorado 80743
  • 122 W Main Street, Sterling, Colorado 80751
  • 175 E First Street, Akron, Colorado 80720
  • 10 Angrove Avenue, Johnstown, Colorado 80534
  • 5855 Firestone Boulevard, Firestone, Colorado 80504
  • 1300 Broad Street, Milliken, Colorado 80543
  • 401 Coffman Street, Longmont, Colorado 80501
  • 3650 35th Avenue, Evans, Colorado 80620

“We are pleased to complete the acquisition of these 9 locations from Independent Bank,” Aaron P. Graft, vice chairman and chief executive officer of Triumph Bancorp, Inc., stated. “We are excited to expand the retail footprint in our Western Division to 27 branches, bringing our total number of branches to 46, while gaining a team of talented bankers that will enhance our community banking operations. This acquisition will improve our core deposit base and continue to build upon the diversification of our loan portfolio from last year’s Colorado East Bank & Trust acquisition. We are excited to welcome the customers and staff of these branches to the TBK team.”

About Triumph

Triumph Bancorp, Inc. (Nasdaq:TBK) is a financial holding company headquartered in Dallas, Texas, with a diversified line of community banking and commercial finance activities. Our bank subsidiary, TBK Bank, SSB, is a Texas-state savings bank offering commercial and consumer banking products focused on meeting client needs in Texas, Colorado, Kansas, Iowa and Illinois. We also serve a national client base through our commercial finance offering, which includes factoring, equipment lending, asset based lending, commercial insurance and premium finance solutions for independent insurance agents.

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