Triumph Bank open for business

Memphis Business Journal - June 20, 2006

Triumph Bank has opened its first office in Germantown.

The bank was organized by more than a dozen Memphis investors last year and ultimately raised more than $20 million from 437 shareholders. Approval for the location at 2171 Judicial Drive, which has served as a branch or main office for at least two other banks in recent years, was given approval to open Jan. 31 by the State of Tennessee Department of Financial Institutions. It began operation June 5.

"Triumph Bank's primary focus is on the banking needs of our community," William J. Chase Jr., president and CEO of Triumph Bank, stated in a release. "We plan to set the standard for excellence in the delivery of financial services to individuals, professionals, and small to medium-sized businesses in the Memphis market."

The 4,400-square-foot office is also serving as the temporary headquarters for Triumph Bancshares Inc., until the corporate headquarters is opened at 5699 Poplar. Belz Enterprises has announced plans to develop the site at the intersection of Poplar and Interstate 240.

Triumph has said it plans to build an 8,500-square-foot building at the site, which would also include a retail bank operation. That location is expected to open in early 2007, followed by three more branches, the bank stated in a release.

Triumph Bancshares now has 18 full-time employees.