Exhibit 99.1

Triumph Bancorp Reports Fourth Quarter Net Income to Common Stockholders of $25.8 million

DALLAS – January 20, 2022 (GLOBE NEWSWIRE) – Triumph Bancorp, Inc. (Nasdaq: TBK) (“Triumph” or the “Company”) today announced earnings and operating results for the fourth quarter of 2021.

As part of how we measure our results, we use certain non-GAAP financial measures to ascertain performance. These non-GAAP financial measures are reconciled in the section labeled “Metrics and non-GAAP financial reconciliation” at the end of this press release.

2021 Fourth Quarter Highlights

•For the fourth quarter of 2021, net income to common shareholders was $25.8 million, and diluted earnings per share were $1.02.

•Net interest income was $104.1 million.

•Non-interest income was $14.3 million.

•Non-interest expense was $83.0 million. Included in non-interest expense was a $7.4 million accrual for our Strategic Equity Grant ("SEG") reflected in salaries and employee benefits which represents a cumulative catch-up to cover two-thirds of the three year vesting period. Further discussion of the SEG can be found in our 2020 Proxy.

•Net interest margin was 7.66%. Yield on loans and the average cost of our total deposits were 8.68% and 0.16%, respectively.

•Credit loss expense for the quarter ended December 31, 2021 was $2.0 million.

•Net charge-offs were $0.2 million for the quarter.

•The total dollar value of invoices purchased by Triumph Business Capital was $4.033 billion with an average invoice size of $2,416. The transportation average invoice size for the quarter was $2,291.

•TriumphPay processed 4,027,680 invoices paying carriers a total of $5.242 billion.

Balance Sheet

Total loans held for investment increased $84.8 million, or 1.8%, during the fourth quarter to $4.868 billion at December 31, 2021. Average loans held for investment for the quarter increased $73.1 million, or 1.5%, to $4.844 billion.

Total deposits were $4.647 billion at December 31, 2021, a decrease of $175.9 million, or 3.6%, in the fourth quarter of 2021. Non-interest-bearing deposits accounted for 41% of total deposits and non-time deposits accounted for 86% of total deposits at December 31, 2021.

Asset Quality and Allowance for Credit Loss

Our nonperforming assets ratio at December 31, 2021 was 0.92%. Approximately 2 basis points of this ratio at December 31, 2021 consisted of $1.4 million of the acquired Over-Formula Advance portfolio which represents the portion that is not covered by CVLG's indemnification. An additional 33 basis points of this ratio at December 31, 2021 consisted of $19.4 million of the Misdirected Payments. Over-Formula Advances and Misdirected Payments are discussed in greater detail below.

Our past-due loan ratio at December 31, 2021 was 2.86%. Approximately 21 basis points of this ratio at December 31, 2021 consisted of $10.1 million of past due factored receivables related to the Over-Formula Advance portfolio. An additional 40 basis points of this ratio at December 31, 2021 consisted of the $19.4 million of Misdirected Payments, as discussed below.

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Our ACL as a percentage of loans held for investment increased 1 basis point during the quarter to 0.87% at December 31, 2021.

CARES Act and Paycheck Protection Program

As of December 31, 2021, our balance sheet reflected deferrals on outstanding loan balances of $31.9 million to assist customers impacted by COVID-19. Modifications related to the COVID-19 pandemic and qualifying under the provisions of Section 4013 of the CARES Act are not considered troubled debt restructurings. As of December 31, 2021, these deferred balances carried accrued interest of $0.1 million.

As of December 31, 2021, we carried 118 PPP loans representing a balance of $27.2 million classified as commercial loans. We recognized $2.7 million in fees from the SBA on PPP loans during the three months ended December 31, 2021 and carry $0.8 million of deferred fees on PPP loans at quarter end. The remaining fees will be amortized over the respective lives of the loans or recognized upon forgiveness of the loans.

Items related to our July 2020 acquisition of TFS

As disclosed on our SEC Forms 8-K filed on July 8, 2020 and September 23, 2020, we acquired the transportation factoring assets of TFS, a wholly owned subsidiary of Covenant Logistics Group, Inc. ("CVLG"), and subsequently amended the terms of that transaction. There were no material developments related to that transaction that impacted our operating results for the three months ended December 31, 2021.

At December 31, 2021, the carrying value of the acquired over-formula advances was $10.1 million, the total reserve on acquired over-formula advances was $10.1 million and the balance of our indemnification asset, the value of the payment that would be due to us from CVLG in the event that these over-advances are charged off, was $4.8 million.

As of December 31, 2021 we carried a separate $19.4 million receivable (the “Misdirected Payments”) payable by the United States Postal Service (“USPS”) arising from accounts factored to the largest over-formula advance carrier. This amount is separate from the acquired Over-Formula Advances. The amounts represented by this receivable were paid by the USPS directly to such customer in contravention of notices of assignment delivered to, and previously honored by, the USPS, which amount was then not remitted back to us by such customer as required. The USPS disputes their obligation to make such payment, citing purported deficiencies in the notices delivered to them. In addition to commencing litigation against such customer, we have commenced litigation in the United States Court of Federal Claims against the USPS seeking a ruling that the USPS was obligated to make the payments represented by this receivable directly to us. Based on our legal analysis and discussions with our counsel advising us on this matter, we continue to believe it is probable that we will prevail in such action and that the USPS will have the capacity to make payment on such receivable. Consequently, we have not reserved for such balance as of December 31, 2021. The full amount of such receivable is reflected in non-performing and past due factored receivables as of December 31, 2021 in accordance with our policy. As of December 31, 2021, the entire $19.4 million Misdirected Payments amount was greater than 90 days past due.

Conference Call Information

Aaron P. Graft, Vice Chairman and CEO and Brad Voss, CFO will review the financial results in a conference call for investors and analysts beginning at 7:00 a.m. Central Time on Friday, January 21, 2022.

To participate in the live conference call, please dial 1-844-200-6205 (International: +1-929-526-1599) and access code

984179.  A simultaneous audio-only webcast may be accessed via the Company's website at www.triumphbancorp.com through the Investor Relations, News & Events, Webcasts and Presentations links, or through a direct link here at: https://services.choruscall.com/links/tbk220121.html. An archive of this conference call will subsequently be available at this same location on the Company’s website.

About Triumph

Triumph Bancorp, Inc. (Nasdaq: TBK) is a financial holding company headquartered in Dallas, Texas, offering a diversified line of payments, factoring, and banking services. www.triumphbancorp.com

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Forward-Looking Statements

This press release contains forward-looking statements. Any statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. You can identify forward-looking statements by the use of forward-looking terminology such as “believes,” “expects,” “could,” “may,” “will,” “should,” “seeks,” “likely,” “intends,” “plans,” “pro forma,” “projects,” “estimates” or “anticipates” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. You can also identify forward-looking statements by discussions of strategy, plans or intentions. Forward-looking statements involve numerous risks and uncertainties and you should not rely on them as predictions of future events. Forward-looking statements depend on assumptions, data or methods that may be incorrect or imprecise and we may not be able to realize them. We do not guarantee that the transactions and events described will happen as described (or that they will happen at all). The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: business and economic conditions generally and in the bank and non-bank financial services industries, nationally and within our local market areas; the impact of COVID-19 on our business, including the impact of the actions taken by governmental authorities to try and contain the virus or address the impact of the virus on the United States economy (including, without limitation, the CARES Act), and the resulting effect of all of such items on our operations, liquidity and capital position, and on the financial condition of our borrowers and other customers; our ability to mitigate our risk exposures; our ability to maintain our historical earnings trends; changes in management personnel; interest rate risk; concentration of our products and services in the transportation industry; credit risk associated with our loan portfolio; lack of seasoning in our loan portfolio; deteriorating asset quality and higher loan charge-offs; time and effort necessary to resolve nonperforming assets; inaccuracy of the assumptions and estimates we make in establishing reserves for probable loan losses and other estimates; risks related to the integration of acquired businesses, including our acquisition of HubTran Inc. and developments related to our acquisition of Transport Financial Solutions and the related over-formula advances, and any future acquisitions; our ability to successfully identify and address the risks associated with our possible future acquisitions, and the risks that our prior and possible future acquisitions make it more difficult for investors to evaluate our business, financial condition and results of operations, and impairs our ability to accurately forecast our future performance; lack of liquidity; fluctuations in the fair value and liquidity of the securities we hold for sale; impairment of investment securities, goodwill, other intangible assets or deferred tax assets; our risk management strategies; environmental liability associated with our lending activities; increased competition in the bank and non-bank financial services industries, nationally, regionally or locally, which may adversely affect pricing and terms; the accuracy of our financial statements and related disclosures; material weaknesses in our internal control over financial reporting; system failures or failures to prevent breaches of our network security; the institution and outcome of litigation and other legal proceedings against us or to which we become subject; changes in carry-forwards of net operating losses; changes in federal tax law or policy; the impact of recent and future legislative and regulatory changes, including changes in banking, securities and tax laws and regulations, such as the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) and their application by our regulators; governmental monetary and fiscal policies; changes in the scope and cost of FDIC, insurance and other coverages; failure to receive regulatory approval for future acquisitions; and increases in our capital requirements.

While forward-looking statements reflect our good-faith beliefs, they are not guarantees of future performance. All forward-looking statements are necessarily only estimates of future results. Accordingly, actual results may differ materially from those expressed in or contemplated by the particular forward-looking statement, and, therefore, you are cautioned not to place undue reliance on such statements. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events or circumstances, except as required by applicable law. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" and the forward-looking statement disclosure contained in Triumph’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 12, 2021.

Non-GAAP Financial Measures

This press release includes certain non‐GAAP financial measures intended to supplement, not substitute for, comparable GAAP measures. Reconciliations of non‐GAAP financial measures to GAAP financial measures are provided at the end of this press release.

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The following table sets forth key metrics used by Triumph to monitor our operations. Footnotes in this table can be found in our definitions of non-GAAP financial measures at the end of this document.

			As of and for the Three Months Ended																														As of and for the Twelve Months Ended
(Dollars in thousands)			December 31, 2021						September 30, 2021						June 30, 2021						March 31, 2021						December 31, 2020						December 31, 2021						December 31, 2020
Financial Highlights:
Total assets			$	5,956,250					$	6,024,535					$	6,015,877					$	6,099,628					$	5,935,791					$	5,956,250					$	5,935,791
Loans held for investment			$	4,867,572					$	4,782,730					$	4,831,215					$	5,084,512					$	4,996,776					$	4,867,572					$	4,996,776
Deposits			$	4,646,679					$	4,822,575					$	4,725,450					$	4,789,665					$	4,716,600					$	4,646,679					$	4,716,600
Net income available to common stockholders			$	25,839					$	23,627					$	27,180					$	33,122					$	31,328					$	109,768					$	62,323
Performance Ratios - Annualized:
Return on average assets			1.77		%				1.61		%				1.84		%				2.29		%				2.21		%				1.87		%				1.18		%
Return on average total equity			12.41		%				11.85		%				14.27		%				18.42		%				17.73		%				14.10		%				9.67		%
Return on average common equity			12.71		%				12.13		%				14.70		%				19.14		%				18.44		%				14.52		%				9.77		%
Return on average tangible common equity (1)			19.41		%				19.21		%				20.92		%				26.19		%				25.70		%				21.42		%				13.92		%
Yield on loans(2)			8.68		%				7.92		%				7.77		%				7.24		%				7.20		%				7.91		%				7.00		%
Cost of interest bearing deposits			0.27		%				0.27		%				0.31		%				0.41		%				0.54		%				0.32		%				0.93		%
Cost of total deposits			0.16		%				0.16		%				0.20		%				0.28		%				0.38		%				0.20		%				0.67		%
Cost of total funds			0.29		%				0.38		%				0.34		%				0.42		%				0.51		%				0.36		%				0.80		%
Net interest margin(2)			7.66		%				6.69		%				6.47		%				6.06		%				6.20		%				6.72		%				5.71		%
Net non-interest expense to average assets			4.56		%				4.00		%				3.75		%				3.14		%				2.54		%				3.87		%				2.98		%
Adjusted net non-interest expense to average assets (1)			4.56		%				4.00		%				3.55		%				3.14		%				2.54		%				3.82		%				3.14		%
Efficiency ratio			70.16		%				70.13		%				67.96		%				62.57		%				55.95		%				67.87		%				64.35		%
Adjusted efficiency ratio (1)			70.16		%				70.13		%				65.09		%				62.57		%				55.95		%				67.16		%				65.97		%
Asset Quality:(3)
Past due to total loans			2.86		%				2.31		%				2.28		%				1.96		%				3.22		%				2.86		%				3.22		%
Non-performing loans to total loans			0.95		%				0.90		%				1.06		%				1.17		%				1.16		%				0.95		%				1.16		%
Non-performing assets to total assets			0.92		%				0.86		%				0.97		%				1.15		%				1.15		%				0.92		%				1.15		%
ACL to non-performing loans			91.20		%				95.75		%				88.92		%				80.87		%				164.98		%				91.20		%				164.98		%
ACL to total loans			0.87		%				0.86		%				0.95		%				0.94		%				1.92		%				0.87		%				1.92		%
Net charge-offs to average loans			—		%				0.08		%				0.01		%				0.85		%				0.03		%				0.95		%				0.10		%
Capital:
Tier 1 capital to average assets(4)			11.11		%				10.43		%				9.73		%				10.89		%				10.80		%				11.11		%				10.80		%
Tier 1 capital to risk-weighted assets(4)			11.51		%				11.06		%				10.33		%				11.28		%				10.60		%				11.51		%				10.60		%
Common equity tier 1 capital to risk-weighted assets(4)			9.94		%				9.45		%				8.74		%				9.72		%				9.05		%				9.94		%				9.05		%
Total capital to risk-weighted assets			14.10		%				13.69		%				12.65		%				13.58		%				13.03		%				14.10		%				13.03		%
Total equity to total assets			14.42		%				13.62		%				13.17		%				12.53		%				12.24		%				14.42		%				12.24		%
Tangible common stockholders' equity to tangible assets(1)			9.46		%				8.63		%				8.04		%				8.98		%				8.56		%				9.46		%				8.56		%
Per Share Amounts:
Book value per share			$	32.35					$	30.87					$	29.76					$	28.90					$	27.42					$	32.35					$	27.42
Tangible book value per share (1)			$	21.34					$	19.73					$	18.35					$	21.34					$	19.78					$	21.34					$	19.78
Basic earnings per common share			$	1.04					$	0.95					$	1.10					$	1.34					$	1.27					$	4.44					$	2.56
Diluted earnings per common share			$	1.02					$	0.94					$	1.08					$	1.32					$	1.25					$	4.35					$	2.53
Adjusted diluted earnings per common share(1)			$	1.02					$	0.94					$	1.17					$	1.32					$	1.25					$	4.44					$	2.26
Shares outstanding end of period			25,158,879						25,123,342						25,109,703						24,882,929						24,868,218						25,158,879						24,868,218

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Unaudited consolidated balance sheet as of:

(Dollars in thousands)			December 31, 2021						September 30, 2021						June 30, 2021						March 31, 2021						December 31, 2020
ASSETS
Total cash and cash equivalents			$	383,178					$	532,764					$	444,439					$	380,811					$	314,393
Securities - available for sale			182,426						164,816						193,627						205,330						224,310
Securities - held to maturity, net			4,947						5,488						5,658						5,828						5,919
Equity securities			5,504						5,623						5,854						5,826						5,826
Loans held for sale			7,330						26,437						31,136						22,663						24,546
Loans held for investment			4,867,572						4,782,730						4,831,215						5,084,512						4,996,776
Allowance for credit losses			(42,213)						(41,017)						(45,694)						(48,024)						(95,739)
Loans, net			4,825,359						4,741,713						4,785,521						5,036,488						4,901,037
FHLB and other restricted stock			10,146						4,901						8,096						9,807						6,751
Premises and equipment, net			105,729						104,311						106,720						105,390						103,404
Other real estate owned ("OREO"), net			524						893						1,013						1,421						1,432
Goodwill and intangible assets, net			276,856						280,055						286,567						188,006						189,922
Bank-owned life insurance			40,993						41,540						41,912						41,805						41,608
Deferred tax asset, net			10,023						—						—						1,260						6,427
Indemnification asset			4,786						4,786						5,246						5,246						36,225
Other assets			98,449						111,208						100,088						89,747						73,991
Total assets			$	5,956,250					$	6,024,535					$	6,015,877					$	6,099,628					$	5,935,791
LIABILITIES
Non-interest bearing deposits			$	1,925,370					$	2,020,984					$	1,803,552					$	1,637,653					$	1,352,785
Interest bearing deposits			2,721,309						2,801,591						2,921,898						3,152,012						3,363,815
Total deposits			4,646,679						4,822,575						4,725,450						4,789,665						4,716,600
Customer repurchase agreements			2,103						11,990						9,243						2,668						3,099
Federal Home Loan Bank advances			180,000						30,000						130,000						180,000						105,000
Payment Protection Program Liquidity Facility			27,144						97,554						139,673						158,796						191,860
Subordinated notes			106,957						106,755						87,620						87,564						87,509
Junior subordinated debentures			40,602						40,467						40,333						40,201						40,072
Deferred tax liability, net			—						982						3,333						—						—
Other liabilities			93,901						93,538						87,837						76,730						64,870
Total liabilities			5,097,386						5,203,861						5,223,489						5,335,624						5,209,010
EQUITY
Preferred Stock			45,000						45,000						45,000						45,000						45,000
Common stock			283						282						282						280						280
Additional paid-in-capital			510,939						499,282						494,224						490,699						489,151
Treasury stock, at cost			(104,743)						(104,600)						(104,486)						(103,059)						(103,052)
Retained earnings			399,351						373,512						349,885						322,705						289,583
Accumulated other comprehensive income (loss)			8,034						7,198						7,483						8,379						5,819
Total stockholders' equity			858,864						820,674						792,388						764,004						726,781
Total liabilities and equity			$	5,956,250					$	6,024,535					$	6,015,877					$	6,099,628					$	5,935,791

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Unaudited consolidated statement of income:

			For the Three Months Ended																														For the Twelve Months Ended
(Dollars in thousands)			December 31, 2021						September 30, 2021						June 30, 2021						March 31, 2021						December 31, 2020						December 31, 2021						December 31, 2020
Interest income:
Loans, including fees			$	43,979					$	44,882					$	45,988					$	48,706					$	50,723					$	183,555					$	198,214
Factored receivables, including fees			62,196						50,516						47,328						37,795						37,573						197,835						114,434
Securities			1,438						1,126						1,187						1,650						1,519						5,401						8,229
FHLB and other restricted stock			25						28						27						76						56						156						530
Cash deposits			141						183						158						126						68						608						708
Total interest income			107,779						96,735						94,688						88,353						89,939						387,555						322,115
Interest expense:
Deposits			1,907						1,948						2,470						3,372						4,308						9,697						27,403
Subordinated notes			1,297						2,449						1,350						1,349						1,347						6,445						5,363
Junior subordinated debentures			444						443						446						442						452						1,775						2,114
Other borrowings			74						124						140						170						234						508						2,507
Total interest expense			3,722						4,964						4,406						5,333						6,341						18,425						37,387
Net interest income			104,057						91,771						90,282						83,020						83,598						369,130						284,728
Credit loss expense (benefit)			2,008						(1,187)						(1,806)						(7,845)						4,680						(8,830)						38,329
Net interest income after credit loss expense (benefit)			102,049						92,958						92,088						90,865						78,918						377,960						246,399
Non-interest income:
Service charges on deposits			2,050						2,030						1,857						1,787						1,643						7,724						5,274
Card income			2,470						2,144						2,225						1,972						1,949						8,811						7,781
Net OREO gains (losses) and valuation adjustments			29						(9)						(287)						(80)						(217)						(347)						(616)
Net gains (losses) on sale of securities			—						4						1						—						16						5						3,226
Fee income			5,711						5,198						4,470						2,249						1,615						17,628						6,007
Insurance commissions			1,138						1,231						1,272						1,486						1,327						5,127						4,232
Gain on sale of subsidiary			—						—						—						—						—						—						9,758
Other			2,861						1,457						4,358						6,877						16,053						15,553						24,723
Total non-interest income			14,259						12,055						13,896						14,291						22,386						54,501						60,385
Non-interest expense:
Salaries and employee benefits			52,544						43,769						41,658						35,980						33,798						173,951						126,975
Occupancy, furniture and equipment			6,194						6,388						6,112						5,779						7,046						24,473						22,766
FDIC insurance and other regulatory assessments			288						353						500						977						350						2,118						1,520
Professional fees			2,633						2,362						5,052						2,545						2,326						12,592						9,349
Amortization of intangible assets			3,199						3,274						2,428						1,975						2,065						10,876						8,330
Advertising and promotion			1,640						1,403						1,241						890						1,170						5,174						4,718
Communications and technology			7,844						7,090						6,028						5,900						5,639						26,862						22,153
Other			8,662						8,174						7,779						6,846						6,904						31,461						26,263
Total non-interest expense			83,004						72,813						70,798						60,892						59,298						287,507						222,074
Net income before income tax			33,304						32,200						35,186						44,264						42,006						144,954						84,710
Income tax expense			6,664						7,771						7,204						10,341						9,876						31,980						20,686
Net income			$	26,640					$	24,429					$	27,982					$	33,923					$	32,130					$	112,974					$	64,024
Dividends on preferred stock			(801)						(802)						(802)						(801)						(802)						(3,206)						(1,701)
Net income available to common stockholders			$	25,839					$	23,627					$	27,180					$	33,122					$	31,328					$	109,768					$	62,323

6

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Earnings per share:

			For the Three Months Ended																														Twelve Months Ended
(Dollars in thousands)			December 31, 2021						September 30, 2021						June 30, 2021						March 31, 2021						December 31, 2020						December 31, 2021						December 31, 2020
Basic
Net income to common stockholders			$	25,839					$	23,627					$	27,180					$	33,122					$	31,328					$	109,768					$	62,323
Weighted average common shares outstanding			24,786,720						24,759,419						24,724,128						24,675,109						24,653,099						24,736,713						24,387,932
Basic earnings per common share			$	1.04					$	0.95					$	1.10					$	1.34					$	1.27					$	4.44					$	2.56
Diluted
Net income to common stockholders - diluted			$	25,839					$	23,627					$	27,180					$	33,122					$	31,328					$	109,768					$	62,323
Weighted average common shares outstanding			24,786,720						24,759,419						24,724,128						24,675,109						24,653,099						24,736,713						24,387,932
Dilutive effects of:
Assumed exercises of stock options			124,462						121,110						134,358						130,016						101,664						130,198						64,104
Restricted stock awards			236,251						141,204						139,345						169,514						136,239						170,276						86,498
Restricted stock units			87,605						74,268						73,155						66,714						50,156						76,049						25,978
Performance stock units - market based			150,969						131,346						134,313						128,167						112,228						136,199						51,304
Performance stock units - performance based			—						—						—						—						—						—						—
Employee stock purchase plan			4,726						616						3,708						1,418						—						2,617						—
Weighted average shares outstanding - diluted			25,390,733						25,227,963						25,209,007						25,170,938						25,053,386						25,252,052						24,615,816
Diluted earnings per common share			$	1.02					$	0.94					$	1.08					$	1.32					$	1.25					$	4.35					$	2.53

Shares that were not considered in computing diluted earnings per common share because they were antidilutive or have not met the thresholds to be considered in the dilutive calculation are as follows:

			For the Three Months Ended																														Twelve Months Ended
			December 31, 2021						September 30, 2021						June 30, 2021						March 31, 2021						December 31, 2020						December 31, 2021						December 31, 2020
Stock options			—						16,939						16,939						—						—						16,939						64,947
Restricted stock awards			8,463						—						—						—						—						8,463						—
Restricted stock units			15,000						—						—						—						—						15,000						—
Performance stock units - market based			—						12,020						13,520						—						—						—						—
Performance stock units - performance based			259,383						259,383						265,625						256,625						256,625						259,383						256,625
Employee stock purchase plan			—						—						—						—						—						—						—

Loans held for investment summarized as of:

(Dollars in thousands)			December 31, 2021						September 30, 2021						June 30, 2021						March 31, 2021						December 31, 2020
Commercial real estate			$	632,775					$	630,106					$	701,576					$	784,110					$	779,158
Construction, land development, land			123,464						171,814						185,444						223,841						219,647
1-4 family residential properties			123,115						127,073						135,288						142,859						157,147
Farmland			77,394						82,990						91,122						97,835						103,685
Commercial			1,430,429						1,398,497						1,453,583						1,581,125						1,562,957
Factored receivables			1,699,537						1,607,028						1,398,299						1,208,718						1,120,770
Consumer			10,885						12,677						12,389						14,332						15,838
Mortgage warehouse			769,973						752,545						853,514						1,031,692						1,037,574
Total loans			$	4,867,572					$	4,782,730					$	4,831,215					$	5,084,512					$	4,996,776

7

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Our banking loan portfolio consists of traditional community bank loans as well as commercial finance product lines focused on businesses that require specialized financial solutions and national lending product lines that further diversify our lending operations.

Banking loans held for investment are further summarized below:

(Dollars in thousands)			December 31, 2021						September 30, 2021						June 30, 2021						March 31, 2021						December 31, 2020
Commercial real estate			$	632,775					$	630,106					$	701,576					$	784,110					$	779,158
Construction, land development, land			123,464						171,814						185,444						223,841						219,647
1-4 family residential			123,115						127,073						135,288						142,859						157,147
Farmland			77,394						82,990						91,122						97,835						103,685
Commercial - General			295,662						289,242						290,562						288,458						340,850
Commercial - Paycheck Protection Program			27,197						87,413						135,307						237,299						189,857
Commercial - Agriculture			70,127						77,263						76,346						83,859						94,572
Commercial - Equipment			621,437						588,105						604,396						623,248						573,163
Commercial - Asset-based lending			281,659						213,927						181,394						188,825						180,488
Commercial - Liquid Credit			134,347						142,547						165,578						159,436						184,027
Consumer			10,885						12,677						12,389						14,332						15,838
Mortgage Warehouse			769,973						752,545						853,514						1,031,692						1,037,574
Total banking loans held for investment			$	3,168,035					$	3,175,702					$	3,432,916					$	3,875,794					$	3,876,006

The following table presents the Company’s operating segments:

(Dollars in thousands)
Three months ended December 31, 2021						Banking						Factoring						Payments						Corporate						Consolidated
Total interest income						$	45,534					$	58,042					$	4,154					$	49					$	107,779
Intersegment interest allocations						2,272						(2,178)						(94)						—						—
Total interest expense						1,980						—						—						1,742						3,722
Net interest income (expense)						45,826						55,864						4,060						(1,693)						104,057
Credit loss expense (benefit)						171						1,600						(110)						347						2,008
Net interest income after credit loss expense						45,655						54,264						4,170						(2,040)						102,049
Noninterest income						8,308						2,295						3,209						447						14,259
Noninterest expense						46,617						22,335						13,376						676						83,004
Operating income (loss)						$	7,346					$	34,224					$	(5,997)					$	(2,269)					$	33,304

(Dollars in thousands)
Three months ended September 30, 2021						Banking						Factoring						Payments						Corporate						Consolidated
Total interest income						$	46,175					$	47,222					$	3,295					$	43					$	96,735
Intersegment interest allocations						2,452						(2,341)						(111)						—						—
Total interest expense						2,073						—						—						2,891						4,964
Net interest income (expense)						46,554						44,881						3,184						(2,848)						91,771
Credit loss expense (benefit)						(2,399)						1,164						38						10						(1,187)
Net interest income after credit loss expense						48,953						43,717						3,146						(2,858)						92,958
Noninterest income						7,371						1,557						3,086						41						12,055
Noninterest expense						41,183						19,106						11,416						1,108						72,813
Operating income (loss)						$	15,141					$	26,168					$	(5,184)					$	(3,925)					$	32,200

8

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Information pertaining to our factoring segment, which includes only factoring originated by our Triumph Business Capital subsidiary, summarized as of and for the quarters ended:

			December 31, 2021						September 30, 2021						June 30, 2021						March 31, 2021						December 31, 2020
Factored receivable period end balance			$	1,546,361,000					$	1,479,989,000					$	1,284,314,000					$	1,118,988,000					$	1,036,548,000
Yield on average receivable balance			14.42		%				13.75		%				14.99		%				13.85		%				13.80		%
Current quarter charge-off rate(1)			0.01		%				0.24		%				0.04		%				3.95		%				0.02		%
Factored receivables - transportation concentration			90		%				90		%				91		%				90		%				89		%
Interest income, including fees			$	58,042,000					$	47,222,000					$	44,653,000					$	35,824,000					$	35,439,000
Non-interest income(2)			2,295,000						1,557,000						2,742,000						1,757,000						1,358,000
Factored receivable total revenue			60,337,000						48,779,000						47,395,000						37,581,000						36,797,000
Average net funds employed			1,442,551,000						1,235,610,000						1,072,405,000						936,528,000						924,899,000
Yield on average net funds employed			16.59		%				15.66		%				17.73		%				16.27		%				15.83		%
Accounts receivable purchased			$	4,032,585,000					$	3,531,811,000					$	3,068,262,000					$	2,492,468,000					$	2,461,249,000
Number of invoices purchased			1,669,387						1,535,321						1,401,695						1,188,678						1,189,271
Average invoice size			$	2,416					$	2,300					$	2,189					$	2,097					$	2,070
Average invoice size - transportation			$	2,291					$	2,195					$	2,090					$	1,974					$	1,943
Average invoice size - non-transportation			$	5,648					$	4,944					$	4,701					$	4,775					$	5,091

(1)March 31, 2021 includes a $41.3 million charge-off related to the TFS acquisition, which contributed approximately 3.94% to the net charge-off rate for the quarter.

(2)Total factoring segment non-interest income was $6.4 million and $15.5 million for the three months ended March 31, 2021 and December 31, 2020, respectively.

March 31, 2021 non-interest income used to calculate yield on average net funds employed excludes a $4.7 million gain on our indemnification asset.

December 31, 2020 non-interest income used to calculate yield on average net funds employed excludes a gain of $8.9 million related to CVLG’s delivery of proceeds resulting from the liquidation of its acquired stock and a $5.3 million gain on our indemnification asset.

9

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Information pertaining to our payments segment, which includes only our TriumphPay division, summarized as of and for the quarters ended:

			December 31, 2021						September 30, 2021						June 30, 2021						March 31, 2021						December 31, 2020
Factored receivable period end balance			$	153,176,000					$	127,039,000					$	113,985,000					$	89,730,000					$	84,222,000
Interest income			$	4,154,000					$	3,295,000					$	2,675,000					$	1,969,000					$	2,034,000
Noninterest income			3,209,000						3,086,000						1,083,000						73,000						51,000
Total revenue			$	7,363,000					$	6,381,000					$	3,758,000					$	2,042,000					$	2,085,000
Pre-tax operating income (loss)			$	(5,997,000)					$	(5,184,000)					$	(7,441,000)					$	(2,552,000)					$	(2,026,000)
Interest expense			94,000						111,000						139,000						167,000						178,000
Depreciation and software amortization expense			57,000						77,000						68,000						65,000						63,000
Intangible amortization expense			1,489,000						1,490,000						497,000						—						—
Earnings (losses) before interest, taxes, depreciation, and amortization			$	(4,357,000)					$	(3,506,000)					$	(6,737,000)					$	(2,320,000)					$	(1,785,000)
Transaction costs			—						—						2,992,000						—						—
Adjusted earnings (losses) before interest, taxes, depreciation, and amortization(1)			$	(4,357,000)					$	(3,506,000)					$	(3,745,000)					$	(2,320,000)					$	(1,785,000)
Number of invoices processed			4,027,680						3,760,948						3,165,119						2,529,673						1,818,145
Amount of payments processed			$	5,242,051,000					$	4,191,424,000					$	3,426,808,000					$	2,301,632,000					$	1,920,037,000

(1)Adjusted earnings (losses) before interest, taxes, depreciation, and amortization excludes material gains and expenses related to merger and acquisition-related activities and is a non-GAAP financial measure used to provide meaningful supplemental information regarding the segment's operational performance and to enhance investors' overall understanding of such financial performance by removing the volatility associated with certain acquisition-related items that are unrelated to our core business.

Deposits summarized as of:

(Dollars in thousands)			December 31, 2021						September 30, 2021						June 30, 2021						March 31, 2021						December 31, 2020
Non-interest bearing demand			$	1,925,370					$	2,020,984					$	1,803,552					$	1,637,653					$	1,352,785
Interest bearing demand			830,019						795,234						760,874						729,364						688,680
Individual retirement accounts			83,410						86,012						87,052						89,748						92,584
Money market			520,358						472,242						395,035						402,070						393,325
Savings			504,146						483,946						474,163						464,035						421,488
Certificates of deposit			533,206						574,539						612,730						740,694						790,844
Brokered time deposits			40,125						117,064						306,975						516,006						516,786
Other brokered deposits			210,045						272,554						285,069						210,095						460,108
Total deposits			$	4,646,679					$	4,822,575					$	4,725,450					$	4,789,665					$	4,716,600

10

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Net interest margin summarized for the three months ended:

			December 31, 2021																		September 30, 2021
(Dollars in thousands)			Average Balance						Interest						Average Rate						Average Balance						Interest						Average Rate
Interest earning assets:
Interest earning cash balances			$	361,059					$	141					0.15		%				$	474,122					$	183					0.15		%
Taxable securities			142,658						1,266						3.52		%				154,017						948						2.44		%
Tax-exempt securities			26,691						172						2.56		%				27,839						178						2.54		%
FHLB and other restricted stock			5,170						25						1.92		%				7,956						28						1.40		%
Loans			4,851,171						106,175						8.68		%				4,777,409						95,398						7.92		%
Total interest earning assets			$	5,386,749					$	107,779					7.94		%				$	5,441,343					$	96,735					7.05		%
Non-interest earning assets:
Other assets			593,013																		579,288
Total assets			$	5,979,762																	$	6,020,631
Interest bearing liabilities:
Deposits:
Interest bearing demand			$	825,784					$	486					0.23		%				$	779,625					$	435					0.22		%
Individual retirement accounts			84,966						115						0.54		%				86,571						126						0.58		%
Money market			486,939						261						0.21		%				417,435						225						0.21		%
Savings			493,796						190						0.15		%				479,915						185						0.15		%
Certificates of deposit			550,746						647						0.47		%				595,001						725						0.48		%
Brokered time deposits			33,263						9						0.11		%				99,116						29						0.12		%
Other brokered deposits			299,290						199						0.26		%				441,446						223						0.20		%
Total interest bearing deposits			2,774,784						1,907						0.27		%				2,899,109						1,948						0.27		%
Federal Home Loan Bank advances			38,967						24						0.24		%				36,522						22						0.24		%
Subordinated notes			106,847						1,297						4.82		%				114,071						2,449						8.52		%
Junior subordinated debentures			40,530						444						4.35		%				40,390						443						4.35		%
Other borrowings			62,143						50						0.32		%				127,946						102						0.32		%
Total interest bearing liabilities			$	3,023,271					$	3,722					0.49		%				$	3,218,038					$	4,964					0.61		%
Non-interest bearing liabilities and equity:
Non-interest bearing demand deposits			2,022,973																		1,912,398
Other liabilities			81,835																		72,173
Total equity			851,683																		818,022
Total liabilities and equity			$	5,979,762																	$	6,020,631
Net interest income									$	104,057																	$	91,771
Interest spread															7.45		%																6.44		%
Net interest margin															7.66		%																6.69		%

Loan balance totals include respective nonaccrual assets.

Net interest spread is the yield on average interest earning assets less the rate on interest bearing liabilities.

Net interest margin is the ratio of net interest income to average interest earning assets.

Average rates have been annualized.

11

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Additional information pertaining to our loan portfolio, including loans held for investment and loans held for sale, summarized for the quarters ended:

(Dollars in thousands)			December 31, 2021						September 30, 2021						June 30, 2021						March 31, 2021						December 31, 2020
Average Banking loans			$	3,112,072					$	3,299,152					$	3,516,747					$	3,722,895					$	3,777,553
Average Factoring receivables			1,597,091						1,362,856						1,195,209						1,048,968						1,024,307
Average Payments receivables			142,008						115,401						102,094						76,412						74,947
Average total loans			$	4,851,171					$	4,777,409					$	4,814,050					$	4,848,275					$	4,876,807
Banking yield			5.61		%				5.40		%				5.25		%				5.31		%				5.34		%
Factoring yield			14.42		%				13.75		%				14.99		%				13.85		%				13.80		%
Payments Yield			11.61		%				11.33		%				10.51		%				10.45		%				10.80		%
Total loan yield			8.68		%				7.92		%				7.77		%				7.24		%				7.20		%

12

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Metrics and non-GAAP financial reconciliation:

						As of and for the Three Months Ended																														As of and for the Twelve Months Ended
(Dollars in thousands, except per share amounts)						December 31, 2021						September 30, 2021						June 30, 2021						March 31, 2021						December 31, 2020						December 31, 2021						December 31, 2020
Net income available to common stockholders						$	25,839					$	23,627					$	27,180					$	33,122					$	31,328					$	109,768					$	62,323
Transaction costs						—						—						2,992						—						—						2,992						827
Gain on sale of subsidiary or division						—						—						—						—						—						—						(9,758)
Tax effect of adjustments						—						—						(715)						—						—						(715)						2,254
Adjusted net income available to common stockholders - diluted						$	25,839					$	23,627					$	29,457					$	33,122					$	31,328					$	112,045					$	55,646
Weighted average shares outstanding - diluted						25,390,733						25,227,963						25,209,007						25,170,938						25,053,386						25,252,052						24,615,816
Adjusted diluted earnings per common share						$	1.02					$	0.94					$	1.17					$	1.32					$	1.25					$	4.44					$	2.26
Average total stockholders' equity						$	851,683					$	818,022					$	786,404					$	746,849					$	720,892					$	801,074					$	661,942
Average preferred stock liquidation preference						(45,000)						(45,000)						(45,000)						(45,000)						(45,000)						(45,000)						(24,099)
Average total common stockholders' equity						806,683						773,022						741,404						701,849						675,892						756,074						637,843
Average goodwill and other intangibles						(278,528)						(284,970)						(220,310)						(188,980)						(191,017)						(243,541)						(190,088)
Average tangible common stockholders' equity						$	528,155					$	488,052					$	521,094					$	512,869					$	484,875					$	512,533					$	447,755
Net income available to common stockholders						$	25,839					$	23,627					$	27,180					$	33,122					$	31,328					$	109,768					$	62,323
Average tangible common equity						528,155						488,052						521,094						512,869						484,875						512,533						447,755
Return on average tangible common equity						19.41		%				19.21		%				20.92		%				26.19		%				25.70		%				21.42		%				13.92		%
Net interest income						$	104,057					$	91,771					$	90,282					$	83,020					$	83,598					$	369,130					$	284,728
Non-interest income						14,259						12,055						13,896						14,291						22,386						54,501						60,385
Operating revenue						118,316						103,826						104,178						97,311						105,984						423,631						345,113
Gain on sale of subsidiary or division						—						—						—						—						—						—						(9,758)
Adjusted operating revenue						$	118,316					$	103,826					$	104,178					$	97,311					$	105,984					$	423,631					$	335,355
Non-interest expenses						$	83,004					$	72,813					$	70,798					$	60,892					$	59,298					$	287,507					$	222,074
Transaction costs						—						—						(2,992)						—						—						(2,992)						(827)
Adjusted non-interest expenses						$	83,004					$	72,813					$	67,806					$	60,892					$	59,298					$	284,515					$	221,247
Adjusted efficiency ratio						70.16		%				70.13		%				65.09		%				62.57		%				55.95		%				67.16		%				65.97		%
Adjusted net non-interest expense to average assets ratio:
Non-interest expenses						$	83,004					$	72,813					$	70,798					$	60,892					$	59,298					$	287,507					$	222,074
Transaction costs						—						—						(2,992)						—						—						(2,992)						(827)
Adjusted non-interest expenses						$	83,004					$	72,813					$	67,806					$	60,892					$	59,298					$	284,515					$	221,247
Total non-interest income						$	14,259					$	12,055					$	13,896					$	14,291					$	22,386					$	54,501					$	60,385
Gain on sale of subsidiary or division						—						—						—						—						—						—						(9,758)
Adjusted non-interest income						$	14,259					$	12,055					$	13,896					$	14,291					$	22,386					$	54,501					$	50,627
Adjusted net non-interest expenses						$	68,745					$	60,758					$	53,910					$	46,601					$	36,912					$	230,014					$	170,620
Average total assets						$	5,979,762					$	6,020,631					$	6,093,805					$	6,013,668					$	5,788,549					$	6,026,819					$	5,426,469
Adjusted net non-interest expense to average assets ratio						4.56		%				4.00		%				3.55		%				3.14		%				2.54		%				3.82		%				3.14		%
Total stockholders' equity						$	858,864					$	820,674					$	792,388					$	764,004					$	726,781					$	858,864					$	726,781
Preferred stock liquidation preference						(45,000)						(45,000)						(45,000)						(45,000)						(45,000)						(45,000)						(45,000)
Total common stockholders' equity						813,864						775,674						747,388						719,004						681,781						813,864						681,781
Goodwill and other intangibles						(276,856)						(280,055)						(286,567)						(188,006)						(189,922)						(276,856)						(189,922)
Tangible common stockholders' equity						$	537,008					$	495,619					$	460,821					$	530,998					$	491,859					$	537,008					$	491,859
Common shares outstanding						25,158,879						25,123,342						25,109,703						24,882,929						24,868,218						25,158,879						24,868,218
Tangible book value per share						$	21.34					$	19.73					$	18.35					$	21.34					$	19.78					$	21.34					$	19.78
Total assets at end of period						$	5,956,250					$	6,024,535					$	6,015,877					$	6,099,628					$	5,935,791					$	5,956,250					$	5,935,791
Goodwill and other intangibles						(276,856)						(280,055)						(286,567)						(188,006)						(189,922)						(276,856)						(189,922)
Tangible assets at period end						$	5,679,394					$	5,744,480					$	5,729,310					$	5,911,622					$	5,745,869					$	5,679,394					$	5,745,869
Tangible common stockholders' equity ratio						9.46		%				8.63		%				8.04		%				8.98		%				8.56		%				9.46		%				8.56		%

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1)Triumph uses certain non-GAAP financial measures to provide meaningful supplemental information regarding Triumph's operational performance and to enhance investors' overall understanding of such financial performance. The non-GAAP measures used by Triumph include the following:

•“Adjusted diluted earnings per common share” is defined as adjusted net income available to common stockholders divided by adjusted weighted average diluted common shares outstanding. Excluded from net income available to common stockholders are material gains and expenses related to merger and acquisition-related activities, including divestitures, net of tax. In our judgment, the adjustments made to net income available to common stockholders allow management and investors to better assess our performance in relation to our core net income by removing the volatility associated with certain acquisition-related items and other discrete items that are unrelated to our core business. Weighted average diluted common shares outstanding are adjusted as a result of changes in their dilutive properties given the gain and expense adjustments described herein.

•"Tangible common stockholders' equity" is defined as common stockholders' equity less goodwill and other intangible assets.

•"Total tangible assets" is defined as total assets less goodwill and other intangible assets.

•"Tangible book value per share" is defined as tangible common stockholders' equity divided by total common shares outstanding. This measure is important to investors interested in changes from period-to-period in book value per share exclusive of changes in intangible assets.

•"Tangible common stockholders' equity ratio" is defined as the ratio of tangible common stockholders' equity divided by total tangible assets. We believe that this measure is important to many investors in the marketplace who are interested in relative changes from period-to period in common equity and total assets, each exclusive of changes in intangible assets.

•"Return on Average Tangible Common Equity" is defined as net income available to common stockholders divided by average tangible common stockholders' equity.

•"Adjusted efficiency ratio" is defined as non-interest expenses divided by our operating revenue, which is equal to net interest income plus non-interest income. Also excluded are material gains and expenses related to merger and acquisition-related activities, including divestitures. In our judgment, the adjustments made to operating revenue and non-interest expense allow management and investors to better assess our performance in relation to our core operating revenue by removing the volatility associated with certain acquisition-related items and other discrete items that are unrelated to our core business.

•"Adjusted net non-interest expense to average total assets" is defined as non-interest expenses net of non-interest income divided by total average assets. Excluded are material gains and expenses related to merger and acquisition-related activities, including divestitures. This metric is used by our management to better assess our operating efficiency.

2)Performance ratios include discount accretion on purchased loans for the periods presented as follows:

			For the Three Months Ended																														For the Twelve Months Ended
(Dollars in thousands)			December 31, 2021						September 30, 2021						June 30, 2021						March 31, 2021						December 31, 2020						December 31, 2021						December 31, 2020
Loan discount accretion			$	1,674					$	1,953					$	2,161					$	3,501					$	2,334					$	9,289					$	10,711

3)Asset quality ratios exclude loans held for sale, except for non-performing assets to total assets.

4)Current quarter ratios are preliminary.

Source: Triumph Bancorp, Inc.

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Investor Relations:

Luke Wyse

Senior Vice President, Finance & Investor Relations

lwyse@tbkbank.com

214-365-6936

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Media Contact:

Amanda Tavackoli

Senior Vice President, Director of Corporate Communication

atavackoli@tbkbank.com

214-365-6930

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