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Triumph Commercial Finance, a division of TBK Bank, SSB, is pleased to announce John Hanley as its senior vice president responsible for managing client relationships for the asset based lending and commercial factoring business units. Mr. Hanley will oversee a team of account executives with the primary objectives to retain, expand and maintain client relationships. “John brings extensive experience in portfolio management to the Triumph Commercial Finance team,” said Dan Karas, executive vice president. “I’m...
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Triumph Bancorp, Inc. (Nasdaq: TBK) (“the Company”) is pleased to announce that Todd Ritterbusch has been appointed chief lending officer of its subsidiary, TBK Bank, SSB (“the Bank”). Ritterbusch will report to Aaron P. Graft, chief executive officer of the Company and the Bank. As a member of the Bank’s executive management team, Ritterbusch’s primary responsibilities will be to oversee the management, direction and development of the Bank’s lending lines of business. “We welcome...
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Triumph Bancorp, Inc., through its subsidiary, THE National Bank, a full service community bank, today announced the signing of a definitive agreement to acquire the lending platform and certain assets of Doral Healthcare Finance, an asset based lender focused exclusively on the healthcare industry. Doral Healthcare Finance is a division of Doral Money, which is a subsidiary of Doral Bank, with operations in Puerto Rico and the U.S. Doral Bank, Inc. is a subsidiary of...
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The Equipment Leasing and Finance Association, or ELFA, revealed its top 10 Equipment Acquisition Trends for 2016. It is estimated that U.S. businesses, nonprofits and government agencies will spend over $1.6 trillion in capital goods or fixed business investment (including software) this year, and financing a majority of those assets will be a common thread and impact a significant portion of the U.S. economy. ELFA forecasts the following Top 10 Equipment Acquisition Trends for 2016: U.S. investment...
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The U.S. Department of Labor’s Bureau of Labor Statistics announced its December 2015 jobs report, and it is good news for the trucking industry. December experienced the largest job gain in more than two years for the transportation industry. The overall transportation industry sector added more than 23,000 jobs in December, which is the largest increase since November 2013 when more than 30,000 jobs were added to the economy. Overall, U.S. payrolls grew by 292,000, which...
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As the economy continues its rebounding with steady growth across multiple industries, small businesses throughout the country are feeling the positive effects. No industry is experiencing growth more than the trucking industry though. According to a report done by Sageworks, a financial analysis software company, trucking is now the fastest-growing small-business industry in the U.S. This comes at a time when many businesses are questioning the efficiency and costs of using trucking for freight. But according...
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Triumph Commercial Finance launched three years ago. In that time we have seen incredible growth and expansion, but have stayed true to our mission of helping small to mid-sized businesses experience development through alternative financing options. By working hard to provide exceptional service to our clients, attract new business and build a national commercial finance footprint, we have achieved a great deal. And because of our team’s dedication and the support of leadership, we will...
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AscendTMS™ Is the First TMS Software to offer seamless integration with Triumph’s invoice factoring and carrier payment processing services. InMotion Global, Inc. announced today that through an equity investment by TBK Bank, SSB, it has secured growth capital to further its market leadership of integrated financial services within its flagship product, AscendTMS™, the leading cloud-based transportation management system (TMS) for trucking companies, freight brokers, 3PL’s and freight shippers. “This investment affirms our bank’s continuing commitment to trucking’s...
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Management is daunting to say the least. There are multiple pieces in the puzzle, and it isn’t a black or white solution especially when dealing with human workers. In construction, a manager must keep the project within budget, on time, and in accordance with numerous codes, laws, and guidelines. With so many factors to align, efficiency is essential to making your job easier and more organized, which will directly affect the quality of the project itself...
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Fleet Advantage has made public its second quarter 2016 Truck Lifecycle Data Index, TLDI, comparing all-in operating costs of early model Class 8 trucks to all-in operating costs of current model year replacements. Results from the research indicate that fleet operators can reduce costs by up to $18,816 by replacing a 2011 cab or $9,521 for a 2014 cab. The savings stem from better fuel efficiencies, up to 14 percent, and a reduction of maintenance and...
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Back in March of this year, the Occupational Safety and Health Administration, or OSHA, issued its final rule that aims to protect workers from exposure to silica dust. OSHA worked with the Department of Labor to issue this new rule, which looks to reduce the allowed exposure to silica from 250 micrograms per cubic meter over an eight-hour period to 50 micrograms. The new standards just went into effect June 23. OSHA’s new rule also mandates...
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The Financial Accounting Standards Board, or FASB, has issued an Accounting Standards Update (ASU) that improves financial reporting. This updated requires timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. This ASU was put in place to make sure organizations measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. Financial institutions will...
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Hot summer days present unique challenges to staying safe on the job site. Heat stress is increasingly being recognized for contributing to the rapid onset of fatigue, distraction, and mistakes. Here are some tips to keep in mind for your summer projects: Drink Plenty of Water: The average adult human body contains 50-65 percent water, meaning water is arguably the best hydrating beverage. Also, consider beverages with added electrolytes such as Gatorade, Powerade, or even coconut water....
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The Senate Concurrent Resolution 40 (S.Con.Res.40) was recently introduced by Sen. Cory Gardner (R-Colo.), expressing opposition toward increasing the 12 percent Federal Excise Tax (FET) on heavy trucks and truck bodies, according to the NTEA. FET is imposed on the first retail sale of heavy-duty trucks, trailers, semitrailer chassis and bodies, and tractors – trucks with a gross vehicle weight rate (GVWR) of more than 33,000 pounds; tractors with a GVWR of more than 19,500 pounds...
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Wearing hard hats is a common practice in construction and essential to the safety of its workers. In 2015, the Occupational Safety and Health Administration recorded over 25,000 injuries and as many as 36 deaths caused by construction accidents including falls, trench collapses and scaffold collapses. With data suggesting the dangers of a construction site, hard hats are increasingly more important to protecting workers, contractors and even supervisors on site. So, all workers are required to...
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President Obama’s budget for fiscal-year 2017 arrived in Congress in February. The proposal, which still needs to be voted on, would boost total spending by 4.9 percent, with most of that going towards programs such as social security and interest payments on the national debt. The budget is filled with minus signs for federal construction programs for 2017, including General Services Administration new buildings, Army Corps of Engineers civil works and Environmental Protection Agency water infrastructure....
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The tonnage shipped by the trucking business rose to an all-time high in February, with rates for truckload shipments up ticking slightly from a year ago. The American Trucking Associations’ seasonally-adjusted truck tonnage index rose 7.2 percent in February from a month earlier.* ATA’s chief economist attributed February’s strong volumes to shippers playing “catch-up” after winter storms in January held up some shipments. Many analysts had predicted a lackluster 2016 for the freight business, especially in...
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Even when a manufacturing company has a healthy asset position and is profitable, they can have liquidity problems with insufficient working capital. Working capital represents the short-term assets available to a business to meet financial obligations. But because supplier and production expenses are often required to be paid several months before goods are actually sold to customers, manufacturing companies often deal with working capital challenges. So how are companies dealing with the challenges of current assets...
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Introduction to new lease accounting rule A new rule was passed by the Financial Accounting Standards Board, or FASB, Wednesday, November 12, when they approved a new lease accounting rule that will increase the amount of liability companies must report on their balance sheets. Those that lease equipment must now report all long-term operating leases on the balance sheet at the present value of the expected future lease payments. The approved change is scheduled to take...
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Triumph Commercial Finance adds Bill King as Vice President, Regional Sales Manager Triumph Commercial Finance, a member of the Triumph Bancorp, Inc. group and provider of asset based lending, accounts receivable financing (factoring) and equipment financesolutions to small and mid-sized businesses nationwide, today announced the addition of Bill King to its equipment finance division as Vice President, Regional Sales Manager. “Triumph Commercial Finance has continued to grow from its inception in 2012, hiring quality talent, and the...
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Triumph Commercial Finance Adds Guy Schaefer as Vice President, Regional Sales Manager of Equipment Finance Group Triumph Commercial Finance, a member of the Triumph Bancorp, Inc. group and provider of asset based lending, accounts receivable financing (factoring) and equipment financesolutions to small and mid-sized businesses nationwide, today announced the addition of Guy Schaefer to its equipment finance division as Vice President, Regional Sales Manager. “Triumph Commercial Finance is committed to hiring quality talent and is devoted to...
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Triumph Bancorp, Inc. (“Triumph”), a financial holding company with interests in community banking, commercial finance and investment management, today announced a series of management assignments. Dan Karas has been named Chief Lending Officer of Triumph’s Dallas-based banking subsidiary, Triumph Savings Bank, SSB, effective July 1, 2014. In this role, Karas will oversee Triumph’s lending operations. Karas succeeds Davis Deadman, who has served as Chief Lending Officer of Triumph Savings Bank since 2012. Deadman also serves in the...
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Triumph Bancorp, Inc., through its subsidiary, THE National Bank, a full-service community bank, today announced the completion of its previously announced acquisition of the lending platform and certain assets of Doral Healthcare Finance (“DHF”). In conjunction with the acquisition, Doral Healthcare Finance has been rebranded Triumph Healthcare Finance, effective immediately. Triumph Healthcare Finance will continue to serve as an asset based lender, focused exclusively in the healthcare industry. All members of the DHF team have joined the...
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Triumph Commercial Finance, a provider of asset based lending, factoring and equipment finance solutions for small to mid-sized businesses nationwide and member of the Triumph Bancorp, Inc. group (Nasdaq:TBK), today announced Jim Allin, Mark J. Simshauser and Jason Chapman as additions to its commercial finance team. Jim Allin will lead the Triumph Commercial Finance asset based lending and commercial factoring business as Senior Vice President after the previously announced promotion of Dan Karas to Chief Lending...
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Triumph Commercial Finance is a Gold Sponsor for the upcoming 12th Annual Texas ACG Capital Connection on February 25-26 in Dallas. Chief Lending Officer Dan Karas, Senior Vice President Jim Allin, Regional Sales Executive Mo Horstmann and Business Development Officer Kim Anderson will represent Triumph at the event. If you plan to attend the Texas ACG Capital Connection, you’re invited to stop by the Triumph Commercial Finance table to learn more about Triumph and how we...