Triumph Bancorp, Inc. (TBK) Q2 2022 Earnings Conference Call July 21, 2022 8:00 AM ET

Company Participants

Aaron Graft – Vice Chairman and Chief Executive Officer

Geoff Brenner – Chief Executive Officer, Triumph Business Capital

Melissa Forman – President of TriumphPay

Brad Voss – Chief Financial Officer

Conference Call Participants

Michael Rose – Raymond James

Matt Olney – Stephens

Steve Moss – B. Riley

Brad Milsaps – Piper Sandler

Gary Tenner – D.A. Davidson

Unidentified Company Representative

Good morning. Welcome to the Triumph Bancorp Conference Call to discuss our Second Quarter 2022 Financial Results. Before we get started, I would like to remind you that this call may include forward-looking statements. Those statements are subject to risks and uncertainties that could cause actual and anticipated results to differ. The company undertakes no obligation to publicly revise any forward-looking statements. For details please refer to the Safe Harbor statement in our shareholder letter and earnings release published last evening. All comments made during today’s call are subject to that Safe Harbor statement. I’m joined this morning by Triumph’s Vice Chairman and CEO, Aaron Graft; our Chief Financial Officer, Brad Voss; Todd Ritterbusch, President of TBK Bank, Geoff Brenner, our CEO of Triumph Business Capital; and Melissa Forman, our President of TriumphPay.

With that housekeeping out of the way, I’d like to turn the call over to Aaron.

Aaron Graft

Good morning, everyone. We hope that the shareholder letter we published last evening was helpful for you in preparing for this call. At this time we’re ready to open the call up for any questions.

Question-and-Answer Session

Operator

All right. If you have any questions, feel free to use the raise hand feature and activate your camera. Our first question comes from Michael Rose from Raymond James. Michael feel free to ask your question.

Michael Rose

Hi, thanks. Good morning, everyone. Thanks for taking my questions. Obviously a lot of moving parts this quarter, a lot of repositioning efforts, would love to get some context there, but first just wanted to dig into the average invoice size. It definitely held up better than I think we were modeling and I think there has been a lot of chatter in the trucking space about invoice prices and trade costs and things like that. Can you just kind of walk us through kind of the dynamics and maybe what you might expect for invoice prices as we move forward? It doesn’t seem like they’re going to get back down to where they had been kind of pre-COVID just given structurally higher fuel prices and labor costs, but we just love any insights into kind of the nearer term direction of TBC. Thanks.