Triumph Financial Rises After 3Q Results and Tricolor Update

Triumph Financial rises 8.3% after the payments and banking company posted results and provided an update on its exposure to collapsed subprime auto lender Tricolor Holdings.

• Third quarter expenses declined by about 5% through efficiency efforts; the company expects 4Q non-interest expenses to be $96.5 million, Triumph said in its letter to shareholders
• During the quarter, Triumph added 2,054 accounts for LoadPay, a digital bank account for truck drivers
• “With a quarter to go, we can reaffirm our expectation that we will open between 5,000 and 10,000 accounts in 2025,” management said in the letter
• Triumph Financial provided an update ...