Regulation

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 excited to have John on the same team again, given his proven history of enhancing profitability and effectively managing teams across a wide range of industries and geographies.” Hanley joins Triumph Commercial Finance with more than 20 years of experience in portfolio management. He has spent the last 15 years with Wells Fargo Capital Finance in both Dallas and Denver leading high-performing teams and maximizing individual talents. In his previous role, he was responsible for the double-digit growth in average credit lines and financed volume while minimizing loss. “I am excited to be a part of this skilled team,” Hanley said. “I have spent my career driving organizational improvements and implementing best practices, and I look forward to bringing those experiences to…

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 Todd to our leadership team,” said Graft. “His experience will be a great benefit to us going forward and we believe that Todd is a great cultural fit for TBK Bank.” Ritterbusch has more than 17 years of banking experience, most recently serving as managing director, market executive, commercial bank for JPMorgan Chase. Prior to that, he held a variety of leadership roles at JPMorgan Chase across its commercial banking and business banking lines of business. When asking Ritterbusch about his objectives as the chief lending officer, he explains that, “TBK has established an impressive track record of profitable growth in each of its lines of business. I look forward to working with the rest of the leadership team and all…

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 Doral Financial Corporation (NYSE: DRL). Aaron Graft, founder and CEO of Triumph Bancorp, Inc. said, “Triumph’s presence in the commercial finance marketplace makes Doral Healthcare Finance a natural fit for our organization as we expand our asset based lending offerings to the healthcare industry.” Dan Karas, Triumph’s Executive Vice President of Asset Based Lending remarked, “I have worked with the leadership at Doral Healthcare Finance for years and am excited about the opportunity to reunite with former colleagues. We are eager to begin serving the asset based lending market in healthcare through the foundation they have built.” Jennifer Sheasgreen, Division President of Doral Healthcare Finance stated, “Doral has been a great partner for us over the past several years and we appreciate their support.

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 in equipment and software will hit a new high, but moderate in growth as businesses hold back on spending. Business investment will reach a new all-time high level, but after a sustained period of increasing as a share of GDP, the equipment investment cycle has likely peaked. Manufacturing weakness, global uncertainty and low oil prices that have discouraged businesses from spending will further moderate investment growth rates. End of zero interest rate policy will spur other businesses, particularly small businesses, to invest before rates go higher. After the first short-term interest rate increase in nearly 10 years, look for the Federal Reserve to act gradually to make additional rate increases throughout the year. As a result, businesses that may have been hesitant about…

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 is far more than analysts expected. The unemployment rate stayed at five percent. The truck transportation subsector experienced an increase of 5,300 jobs after it gained more than 2,000 in November and 400 in October. That increase to end 2015 is the most since last June when 7,400 jobs were created. The continued improvement in the nation’s employment picture is good news for trucking in that it means more people are working and buying good that are delivered by trucks. One of the main storylines in 2015 has been the driver shortage in the trucking industry. With total jobs increasing in the sector, it could be assumed that trucking companies are able to find drivers to hire. But if the transportations industry continues to…

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 to the ATA American Trucking Trends 2015 – ATA’s (American Trucking Associations) annual compendium of data on the trucking industry’s size and performance – the trucking industry generated more than $700 billion in revenue for the first time ever in 2014. And as of May 31, general freight trucking has recorded an almost 25 percent uptick in sales over the last 12-month period. The trucking industry has seen such a positive swing in sales and demand that the industry is dealing with a shortage of 35,000 to 40,000 drivers according to ATA. Because of this shortage in drivers, more opportunities are available for small to mid-sized trucking businesses. Trucking is not the only industry benefiting from increased consumer spending and manufacturing. The building and…

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 continue to expand our reach and help more companies grow their business with the right financing options for them. Some of the milestones that Triumph Commercial Finance has achieved over the past three years include: Developed options for small to mid-size companies to receive alternative financing including: asset based lending, commercial factoring and equipment finance Built a nationwide team with over 200 years of combined experience that continues to exceed client needs Developed into a market alternative, providing strategic solutions to hundreds of clients Filled a void in a space that others choose not to enter “We are very proud of the work we have accomplished so far,” Dan Karas, chief lending officer at Triumph, said. “Since the time we started three years ago, we…

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 small and middle-market segments,” said Aaron P. Graft, Chief Executive Officer of TBK Bank. “We currently provide a broad and growing range of financial services to the trucking industry – from invoice factoring to equipment finance, insurance, premium financing, asset-based lending and carrier payment processing. But the velocity in which emerging technologies are transforming the market place can no longer be ignored. We’re committed to supporting technology suppliers who support our customers.” Tim Higham, president and CEO of InMotion Global, Inc. said, “The opportunity prospective was first and foremost when considering this equity investment from Triumph. We’ve worked closely with TBK Bank’s factoring business, Triumph Business Capital, for the past year. The seamless integration between our product offerings have proven to provide unrivaled…

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 as well as the profits made after completion. So, here are a few tips that we’ve gathered to help you complete your project efficiency and effectively. Know the codes It’s not as simple as finding a place and claiming to build an office building or house in that spot.  Each city and state will have different laws, rules, and codes to abide by so safety standards can be met and risk of injury or damage can be kept to a minimum. In Dallas, we have nine different codes to meet (all which can be found here), and it can be overwhelming if you don’t have project managers or specialty consultants to help you. Have a hierarchy structure It’s…

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 repair costs. Similarly, replacement for sleepers can bring in even greater savings, up to $19,432 for a 2011 model. Using data from Fleet Advantage’s Advanced Truck Lifecycle Administrative Analytics Software, the TLDI helps industry professionals identify when they should replace old trucks with newer models to help them save money. Source: Trucking News Online “It’s clear that upgrading to a new truck provides significant benefits for fleet managers looking to strengthen their bottom line, and that fleets utilizing a shorter vehicle lifecycle will secure a competitive advantage,” said Brian McMahon, data analyst at Fleet Advantage. “First-year savings are impressive and rise exponentially when multiplied across dozens of truck units.” Looking to…

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 that companies must record instances of worker exposure to silica and provide medical exams every three years to employees that are exposed to the substance for long enough periods. Employers are also required to develop a written silica exposure plan and deliver training. While this rule was implemented to increase the safety of construction works, their very industry has been at odds since the new standard was announced. In fact, the National Association of Home Builders, or NAHB, along with 25 other trade associations, formed the Construction Industry Safety Coalition, or CISC, to spearhead the campaign against this rule. The NAHB and CISC state that the rule presents disruptive operational and economic burdens. After the rule was announced, eight construction…

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 be able to use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques used today will still be permitted, but the inputs of those techniques will change to reflect the full amount of expected credit losses. “The new standard addresses concerns from a wide range of our stakeholders—including financial statement preparers and users—that the existing incurred loss approach provides insufficient information about an organization’s expected credit losses,” FASB Chair Russell G. Golden said. The ASU on credit losses will take effect for U.S. Securities and Exchange Commission (SEC) filers for fiscal years beginning after December 15, 2019. Read about the entire update here.

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. The additives make plain water more drinkable and provide the energy needed to replace depleted nutrients. Eat a Healthy Lunch: Junk food is commonly high in fat and preservatives, and it’s going to put extra stress on your digestive system. Instead, eat a lighter lunch and afternoon snack such as vegetable salads or fruits. Block the Sun: Whenever available, work in shaded areas or use canopies to avoid direct sun exposure, even if only temporary. Some shade is always better than none. Also, switch to wide brim hats or vented hats to help keep your head cool. Schedule Early Shifts: In locations where extreme heat occurs, consider rescheduling to work in cooler times of the day when possible. Can…

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 and gross combined weight of 33,000 pounds or less when paired with a trailer or semitrailer; and trailers with a GVWR of more than 26,000 pounds. The funds derived from it are deposited in the Highway Trust Fund. The 12% FET, the highest federal ad valorem excise tax (based on the value of real estate or personal property), was first levied to help finance World War I. S.Con.Res.40 and H.Con.Res.33 help to educate members of Congress about FET-related problems and explain why it should not be increased. This complicated tax can deter business to purchase new tractors and trailers. No matter what piece of equipment you’re looking to acquire, Triumph Commercial Finance can help with equipment based financing solutions. We have the insight and…

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 wear a hard hat on site but did you know that each color represents a different role? Here are the roles commonly associated with each color: White – Managers, engineers, foremen or supervisors Brown – Welders and workers for high heat applications Green – Safety inspector, but occasionally used for new workers Yellow – General laborers and earth-moving operators Blue – Carpenters, technical advisers, and temp workers Orange – Road crews, new employees, or visitors. Since there is no official standard, each site may not follow the same color guide. Sites for different projects also may use different color codes, so we recommend speaking with your site manager or supervisor to confirm. In addition to its unique color, each hard hat is further classified by its class and type found…

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. However, there are offsetting increases in the construction sector, which includes highway and transit programs tracking the 2017 provisions of the recently-approved FAST Act. According to the Associated General Contractors of America, the fiscal year 2017 budget includes a total of $141 billion for construction programs, which is up about 14 percent from the $123.9 billion that was included in the fiscal year 2016 budget. The administration’s budget includes: $759 million for the Federal Bureau of Investigation’s Headquarters consolidation project $267 million to deliver new headquarters for the Federal Emergency Management Agency $248 million to complete the modernization of the Calexico, Calif. U.S. Land Port of Entry $10 billion a year to boost construction of new transit projects and $7 billion a year for…

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 the first half of the year. But many have noted that last month’s strong volumes are encouraging. A monthly report by Cass Information Systems Inc. showed that per-mile truckload rates were 0.5 percent higher this February as compared to the same time last year. But overall the rates were down month-to-month, reaching their lowest point since last summer. Cass analysts attributed the decline to softening demand and overcapacity in the truckload market. Many national carriers are doing well, however, smaller regional carriers are losing market share. Triumph provides carriers of all sizes with the financial resources they specifically need for their business. Triumph Commercial Finance specializes in equipment-based lending for the transportation industry. They know the ins and outs of your business and have…

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 being less than current liabilities? Many manufacturing companies are turning to asset financing, or asset-based lending. An ongoing challenge for any manufacturing business is to alleviate the delayed timing between spending resources for producing goods and receiving payment when those products are sold. Even when a sale is made, the manufacturer may not get the payment immediately. Extended payment terms and slow-paying customers both translate to a potential cash-flow shortfall until payments are received. The accounts receivable represent funds that are due to a business but are currently unpaid. In Triumph Commercial Finance’s eyes, the accounts receivable are assets with real value. Asset-based lending allows manufacturers to receive funds from their accounts receivable before the customer has paid. This can be a timely solution…

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 effect for public companies in December, 2018, and private companies in December, 2019. The goal of this new rule is to provide more accurate financial statements, while increasing transparency surrounding the accounting of a company’s leases. While companies are already required to disclose lease commitments, they currently only have to put them in the footnotes of financial statements. The new rule would require that the obligations are included in companies’ balance sheets. This rule, which could ultimately impact the financial results of many companies around the country, begs the question: “Is leasing equipment smart for your company, or should you strictly focus on financing the purchase of new equipment?” This paper will explore the specific changes of the new rule, while explaining the possible…

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 addition of Bill is no different,” said Dirk Copple, Executive Vice President, Triumph Commercial Finance. “With years of equipment finance experience, Bill will be a valuable asset to the team. He is a dedicated and successful professional in the finance industry.” Bill King brings over 33 years of experience in finance and sales to Triumph. In this role, he will be responsible for equipment finance sales production for the east coast, primarily Georgia, South Carolina and North Carolina. Prior to joining Triumph, Mr. King served as Regional Sales Manager at Element Financial Corporation. While at Element, he was responsible for sales in the southeastern United States. Prior to Element Financial Corporation, he spent 10 years at People’s…

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 the growth of the equipment finance team,” said Dirk Copple, Executive Vice President, Triumph Commercial Finance. “Guy has a wealth of expertise and knowledge that comes with over 29 years in finance and business development. He will be an incredible asset to Triumph and our customers.” As Vice President, Regional Sales Manager, Guy Schaefer will be responsible for equipment finance origination in the Upper Midwest. Prior to joining Triumph, he served as District Manager at Equify Financial where he was responsible for new business development in the construction, energy and transportation segment covering several Midwestern states. Previously, he served as Managing Member for Northpoint Partners and as Senior Sales Manager, Senior Vice President at…

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 leadership function of Triumph Capital Advisors, Triumph’s investment management platform. Deadman will continue to serve in this role as well as remaining a member of Triumph’s loan committee. Ray Sperring, who joined Triumph in 2012, will have expanded responsibilities in Triumph’s commercial real estate lending platform. Aaron P. Graft, Chief Executive Officer remarked, “We are very excited to promote Dan to serve in the role of Chief Lending Officer. He has extensive experience in the development of commercial finance platforms and is well suited to bring that expertise to all areas of Triumph’s lending operations.” Graft went on to say, “Since joining Triumph in 2012, Davis has been an integral part of the company, and we look forward…

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 Triumph Healthcare Finance team. Triumph initially announced its agreement to acquire the asset based lender on May 15, 2014. The terms of the transaction are not being disclosed at this time. ABOUT TRIUMPH BANCORP, INC. Triumph Bancorp, Inc., based in Dallas, Texas, is a financial holding company with interests in community banking, commercial finance and investment management. Members of the Triumph Bancorp, Inc. group include Triumph Savings Bank, SSB, Triumph Commercial Finance, Triumph Capital Advisors, LLC, Triumph CRA Holdings, LLC, Advance Business Capital LLC and THE National Bank. ABOUT THE NATIONAL BANK THE National Bank is a full-service community bank headquartered in Moline, Illinois. Additional branches are located in Bettendorf and Davenport, Iowa; Canton, Chadwick, East Moline, Elgin,…

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 Officer of Triumph Savings Bank, SSB. Mark J. Simshauser will serve as Northeastern Region Manager. Located in Long Island, NY, he will be responsible for expanding Triumph’s asset based lending and commercial factoring markets by supporting small to middle-market businesses throughout the Northeast and New England areas. Jason Chapman will serve as Regional Sales Manager. Located in Southern California, he will be responsible for expanding Triumph’s equipment finance origination to transportation and construction businesses throughout the West Coast region. “As we continue to develop our national presence, we are adding the necessary talent to facilitate our growth,” said Dan Karas. “The wealth of experience Jim, Mark and Jason bring to Triumph within their respective areas of expertise will benefit our organization and…

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 can focus on you so you can focus on your potential.