TBK Bank, a subsidiary of Triumph Bancorp, completed its acquisition of nine branch locations in Colorado from Independent Bank, a subsidiary of Independent Bank Group. 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%.
“We are pleased to complete the acquisition of these nine locations from Independent Bank,” said Aaron P. Graft, vice chairman and CEO of Triumph Bancorp. “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.”
Triumph Bancorp is a financial holding company headquartered in Dallas.