TRIUMPH RAISES OVER $12 MILLION TO FUND GROWTH STRATEGY
Triumph Bancshares, Inc. completes a successful capital investment campaign, announcing the sale of 1,350,000 shares at $9 per share for a total of $12,150,000. This amount is the maximum level for the current offering and the proceeds will be used to pay of f the holding company’s debt and to increase the capitalization of its wholly-owned subsidiary, Triumph Bank.
“This capital will be the engine for our management team’s five-year growth strategy,” says Triumph board chairman Hilliard Crews. Crew s continues, “It is remarkable that we could raise so much, so quickly in this current economic climate. But, then again, it’s remarkable that Triumph has been able to grow to an excess of $300 million since our founding in 2006 – without one dime of TARP or other government subsidies.”
Triumph does, indeed, continue to grow, announcing recently several new hires and a new office in Germantown – their fifth location.
According to Triumph Bank president and CEO Will Chase, “We attribute our steady growth to our emphasis on community and local decision-making. This influx of capital will allow us to build on that foundation. Triumph Bank will now be able to significantly increase the number of loans we can make to local businesses.”
Chase notes several recent initiatives designed to keep the bank competitive, including new internet banking services for individuals and businesses, innovative mobile applications and brand strategy development. “But that’s just the beginning,” says Chase.
Triumph was founded in 2006 by a group of respected local bankers and business leaders who aimed to bring hometown banking back to the Memphis area in a time when many financial institutions were owned and managed out of town.
“We’re proud to serve the people and the businesses that make up this great community, and we look for ward to doing so at a higher and higher level in the coming years,” says Chase.