Triumph Financial Q1 2024 net income falls to $3.4 million, or $0.14 per diluted share
Triumph Financial reported first-quarter 2024 net income to common stockholders of $3.4 million, or $0.14 per diluted share, down from $0.37 in the fourth quarter of 2023 and $0.43 in the first quarter of 2023. The company attributed the decline to a soft freight market, a $5.9 million drop in net interest income, nearly $6 million of credit costs, and higher expenses tied to technology investments, and it expects second-quarter noninterest expense in a $92 million to $94 million range.
Key points
- Q1 2024 net income to common stockholders was $3.4 million, or $0.14 per diluted share, versus $8.8 million, or $0.37, in Q4 2023 and $10.2 million, or $0.43, in Q1 2023.
- Return on average assets was 0.31% in Q1 2024, compared with 0.70% in Q4 2023 and 0.84% in Q1 2023.
- Total credit expense was just under $6 million, and net interest income fell $5.9 million from the prior quarter.
- Second-quarter noninterest expense is likely to be in the $92 million to $94 million range, according to the letter.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:57 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 17, 2024.
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