DALLAS, Texas–(GLOBE NEWSWIRE)–Triumph Bancorp, Inc. (Nasdaq:TBK), today announced that its wholly-owned subsidiary, TBK Bank, SSB (“TBK Bank”) completed its acquisition of 9 branch locations in Colorado from Independent Bank, a subsidiary of Independent Bank Group, Inc. (Nasdaq:IBTX). TBK Bank purchased approximately $99 million in loans and assumed approximately $162 million in deposits associated with the branches for an aggregate deposit premium of approximately $6.8 million or 4.2%.
The following is a list of the 9 branches acquired in the transaction by TBK Bank.
“We are pleased to complete the acquisition of these 9 locations from Independent Bank,” Aaron P. Graft, vice chairman and chief executive officer of Triumph Bancorp, Inc., stated. “We are excited to expand the retail footprint in our Western Division to 27 branches, bringing our total number of branches to 46, while gaining a team of talented bankers that will enhance our community banking operations. This acquisition will improve our core deposit base and continue to build upon the diversification of our loan portfolio from last year’s Colorado East Bank & Trust acquisition. We are excited to welcome the customers and staff of these branches to the TBK team.”
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