Triumph Bancorp established TriumphX, a business unit charged with supporting the execution of Triumph’s plan and evolution as a transportation financial technology company. Matt Levy, the founder of Credera, joined Triumph Bancorp to serve as president of the new unit.
Erik T. Bahr joined TBK Bank, a subsidiary of Triumph Bancorp, as chief revenue officer. Bahr will be responsible for driving the strategy, sales performance, client satisfaction and overall operations of the sales channels and partnerships for the bank’s transportation lines of business.
Unique Logistics, a global logistics and freight forwarding company, signed a new $30 million revolving purchase loan with TBK Bank, a subsidiary of Triumph Bancorp.
TriumphPay, a division of TBK Bank, entered into a definitive agreement to acquire HubTran, a cloud-based provider of automation software for the transportation industry’s back-office. Under the terms of the agreement, TriumphPay will acquire HubTran for $97 million in cash.
John Hanley has joined Triumph Commercial Finance as its senior vice president responsible for managing client relationships for the asset based lending and commercial factoring business units.
Triumph Bancorp completed its acquisitions of First Bancorp of Durango and Southern Colorado Corp., along with their respective subsidiaries.
Triumph Bancorp agreed to acquire First Bancorp of Durango and Southern Colorado. The company also entered into an asset purchase agreement to acquire the transportation factoring assets of Interstate Capital.
CNH Finance expanded its national commercial healthcare lending capabilities with the acquisition of Triumph Healthcare Finance, a division of TBK Bank.
TBK Bank, a subsidiary of Triumph Bancorp, completed its acquisition of nine branch locations in Colorado from Independent Bank.
In the face of continuing bank regulation, alternative lending companies are launching to fill in the gaps. ABF Journal contributor Hugh Larratt-Smith examines the types of loans these lenders are providing and shows how ABL lenders can benefit by teaming up with these new players.