Call Start: 08:00 January 1, 0000 8:49 AM ET
Triumph Bancorp, Inc. (TBK)
Q1 2022 Earnings Conference Call
April 21, 2022 08:00 ET
CompanyParticipants
Luke Wyse - Senior Vice President of Finance & Investor Relations
Aaron Graft - Vice Chairman, President & Chief Executive Officer
William Voss - Executive Vice President & Chief Financial Officer
Geoffrey Brenner - Chief Executive Officer, Triumph Business Capital
Melissa Forman - President
Conference Call Participants
Steve Moss - B. Riley Securities
Matt Olney - Stephens
Gary Tenner - D.A. Davidson
Brady Gailey - KBW
Joe Yanchunis - Raymond James
Timur Braziler - Wells Fargo
Operator
Hello, everyone and welcome to the Triumph Bancorp's First Quarter 2022 Earnings Call. My name is Emma and I will be coordinating your call today. [Operator Instructions]
I'll now pass the call over to the Senior Vice President of Investor Relations, Luke Wyse, to begin. Please go ahead, Luke.
Luke Wyse
Good morning. Welcome to the Triumph Bancorp conference call to discuss our first quarter 2022 financial results. Before we get started, I would like to remind you that this presentation may include forward looking statements. The 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. If you're logged into our webcast, please refer to the slide presentation available online including our Safe Harbor statement on Slide 2.
For those joining by phone, please note that the safe harbor statement and presentation are available on our website at www.Triumphbancorp.com. 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 CEO of Triumph Business Capital; and Melissa Forman, our newly appointed President of TriumphPay.
After the presentation, we will be happy to address any questions you may have. At this time, I'd like to turn the call over to Aaron. Aaron?
Aaron Graft
Thank you, Luke. Good morning. For the first quarter, we earned net income to common stockholders of $23.5 million or $0.93 per diluted share. This was a very good quarter for TBK. We saw the typical seasonality that accompanies the first quarter of every year. However in this case, despite a modest pullback in volume, invoice prices remained elevated such that purchases at Triumph's business capital were flat with the fourth quarter of 2021. TriumphPay saw the number of invoices decline only slightly while the dollar value of invoices paid continued to climb. Overall, I am incredibly proud of this team. We control the things we can control, executing on those items with distinction and continue to make investments in the unique opportunity before us. In the first quarter, we announced the first conforming transactions in our TriumphPay platform.