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, Havana, Milan, Morrison, Mount Carroll, Rapids City, Savanna, Silvis and Sterling, Illinois. THE National Bank, member FDIC and Equal Housing Lender, offers personal checking accounts, savings accounts, CDs, money market, HSA, IRA and business accounts, as well as consumer, commercial and mortgage loans.
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Forward-Looking Information
This press release may contain forward-looking statements relating to the acquisition of the lending platform and certain assets of Doral Healthcare Finance by Triumph Bancorp, Inc. (through its subsidiary, THE National Bank), the combination of their businesses and projected revenue, profitability and earnings outlook, offerings to the healthcare industry, the ability to obtain capital, growth in client bases and the expected timetable for completing the proposed transaction. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. These forward-looking statements, which are based on current expectations, estimates and projections about the industry and markets in which Triumph Bancorp, Inc. and Doral Healthcare Finance operate and beliefs of and assumptions made by Triumph Bancorp, Inc. management and Doral Healthcare Finance management, involve uncertainties that could significantly affect the financial results of Triumph Bancorp, Inc. or Doral Healthcare Finance or the combined company. For example, these forward-looking statements could be affected by factors including, without limitation, risks associated with the ability to successfully integrate our operations and employees; the ability to realize anticipated benefits and synergies of the transaction; the potential impact of announcement of the transaction or consummation of the transaction on relationships; the ability to retain key personnel; the ability to achieve targets for operating performance; and changes in financial markets and interest rates and exchange rates. Investors are cautioned that such statements are predictions and actual events or results may differ materially. Expected financial results or other plans are subject to a number of risks and uncertainties. Forward-looking statements speak only as of the date made and neither Triumph Bancorp, Inc. nor THE National Bank undertakes any duty to update such information.