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BUSINESS SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION BUSINESS SEGMENT INFORMATION
The Company's reportable segments are Banking, Factoring, Payments, and Intelligence, which have been determined based upon their business processes and economic characteristics. This determination also gave consideration to the structure and management of various product lines. The Banking segment includes the operations of TBK Bank. The Banking segment derives its revenue principally from investments in interest earning assets as well as noninterest income typical for the banking industry. The Factoring segment derives its revenue from factoring services. The Payments segment includes the operations of TBK Bank's presentment, audit, and payment solutions to Shipper, Broker, and Factor clients in the trucking industry. The Payments segment derives its revenue from transaction fees and interest income on factored receivables related to invoice payments. These factored receivables consist of both invoices where we offer a Carrier a quickpay opportunity to receive payment at a discount in advance of the standard payment term for such invoice in exchange for the assignment of such invoice to us and from offering Brokers the ability to settle their invoices with us on an extended term following our payment to their Carriers as an additional liquidity option for such Brokers. The balance of such commercial loans was zero at December 31, 2025. The data intelligence business was launched at the beginning of the fourth quarter of 2024 to turn the over-the-road trucking data collected through our services into actionable insights for our customers. This launch coincided with our acquisition of Isometric Technologies Inc. that provides service and performance scoring and benchmarking capabilities to the over-the-road trucking industry. The operations of this segment were further supplemented with our acquisition of Greenscreens AI. Inc., a pricing solution for the logistics industry that delivers short-term freight market pricing intelligence and business insights, during the quarter ended June 30, 2025. The revenue for Intelligence offerings is derived through access and subscription fees, as well as seat licenses where applicable. Prior to the fourth quarter of 2024, there were no individuals allocated specifically to the data intelligence line of business and an explicit data intelligence line of business did not exist. Therefore, revision of prior period segment operating results is not applicable.
Prior to September 30, 2024, the Company disclosed Corporate as a reportable segment. The Company has determined that what was previously deemed the Corporate reportable segment consists of other business activities that do not represent a reportable segment, but rather, such activities belong in a Corporate and Other category as reported in the tabular disclosure below. It should be noted that such restructuring of the tabular disclosure did not result in any changes to the Company's revenue and expense allocation methodology described below. The Company restructured prior period tabular disclosures to achieve appropriate comparability.
Expenses that are directly attributable to the Company's Banking, Factoring, Payments, and Intelligence segments such as, but not limited to, occupancy, salaries and benefits to employees that are fully dedicated to the segment, and certain technology costs that can be attributed to specific users or functional areas within the segment are allocated as such. The Company continues to make considerable investments in shared services that benefit the entire organization and these expenses are allocated to the Corporate and Other category. The Company allocates such expenses to the Corporate and Other category in order for the Company's chief operating decision maker and investors to have clear visibility into the operating performance of each reportable segment.
Intersegment interest expense is allocated to the Factoring and Payments segments based on one-month term SOFR for their funding needs. When the Payments segment is self-funded, with customer deposit funding in excess of its factored receivables, intersegment interest income is allocated based on the Federal Funds effective rate. Management believes that such intersegment interest allocations appropriately reflect the current interest rate environment and the relatively quick turn of the underlying receivables.
Reported segments and the financial information of the reported segments are not necessarily comparable with similar information reported by other financial institutions. Additionally, because of the interrelationships of the various segments, the information presented is not indicative of how the segments would perform if they operated as independent entities. Changes in management structure or allocation methodologies and procedures may result in future changes to previously reported segment financial data. The accounting policies of the segments are substantially the same as those described in Note 1 – Summary of Significant Accounting Policies.
Transactions between segments consist primarily of borrowed funds, payment network fees, and servicing fees. Intersegment interest expense is allocated to the Factoring and Payments segments as described above. Payment network fees are paid by the Factoring segment to the Payments segment for use of the payments network. Servicing fees are paid by the Payments segment to the Factoring segment for servicing factoring transactions with freight broker clients transferred from the Factoring segment to the Payments segment to align with the supply chain finance product offerings for this business. Servicing fees are paid by the Payments segment to the Factoring segment for servicing such product. Beginning prospectively on January 1, 2024, the Factoring and Payments segments began paying fees to the Banking segment for the Banking segment's execution of various banking services that benefit those segments. Credit loss expense is allocated based on the segment’s ACL determination. Noninterest income and expense directly attributable to a segment are assigned to the related segment. Various shared service costs such as human resources, accounting, finance, risk management and information technology expense are assigned to the Corporate and Other category if they are not directly attributable to a segment. Other segment expense consists of various loan and card related expenses and other insignificant miscellaneous costs not specifically reviewed by the Company's chief operating decision maker. Taxes are paid on a consolidated basis and are not allocated for segment purposes.
The following presents the primary operating results of Company’s operating segments.
(Dollars in thousands)TotalCorporate
Year Ended December 31, 2025BankingFactoringPaymentsIntelligenceSegments
and Other(1)
Consolidated
Total interest income$256,978 $147,864 $25,298 $— $430,140 $327 $430,467 
Intersegment interest allocations23,681 (35,217)11,536 — — — — 
Total interest expense73,113 15 — — 73,128 6,751 79,879 
Net interest income (expense)207,546 112,632 36,834 — 357,012 (6,424)350,588 
Credit loss expense (benefit)1,278 1,346 247 — 2,871 277 3,148 
Net interest income (expense) after credit loss expense206,268 111,286 36,587 — 354,141 (6,701)347,440 
Noninterest income26,287 6,802 31,340 6,804 71,233 17,179 88,412 
Noninterest expense:
Salaries and employee benefits62,022 52,572 35,637 11,056 161,287 72,591 233,878 
Depreciation6,472 1,768 837 43 9,120 5,753 14,873 
Other occupancy, furniture and equipment8,129 2,038 624 54 10,845 6,156 17,001 
FDIC insurance and other regulatory assessments4,426 — — — 4,426 — 4,426 
Professional fees6,065 (5,238)965 4,062 5,854 9,404 15,258 
Amortization of intangible assets1,540 772 4,751 3,713 10,776 806 11,582 
Advertising and promotion1,892 857 3,089 135 5,973 1,227 7,200 
Communications and technology19,999 9,253 10,392 1,212 40,856 8,909 49,765 
Software amortization56 3,685 5,843 44 9,628 1,178 10,806 
Travel and entertainment865 655 1,239 577 3,336 1,965 5,301 
Other15,078 4,978 4,932 430 25,418 7,353 32,771 
Total noninterest expense126,544 71,340 68,309 21,326 287,519 115,342 402,861 
Net intersegment noninterest income (expense)(2)
588 1,813 (2,401)— — — — 
Net income (loss) before income tax expense$106,599 $48,561 $(2,783)$(14,522)$137,855 $(104,864)$32,991 
(Dollars in thousands)TotalCorporate
Year Ended December 31, 2024BankingFactoringPaymentsIntelligenceSegments
and Other(1)
Consolidated
Total interest income$262,326 $137,718 $22,168 $— $422,212 $303 $422,515 
Intersegment interest allocations26,416 (35,886)9,470 — — — — 
Total interest expense62,712 — — — 62,712 9,347 72,059 
Net interest income (expense)226,030 101,832 31,638 — 359,500 (9,044)350,456 
Credit loss expense (benefit)13,636 4,773 57 — 18,466 301 18,767 
Net interest income (expense) after credit loss expense212,394 97,059 31,581 — 341,034 (9,345)331,689 
Noninterest income28,167 8,683 24,080 184 61,114 4,300 65,414 
Noninterest expense:
Salaries and employee benefits66,476 49,885 36,160 1,457 153,978 65,602 219,580 
Depreciation6,850 2,099 1,003 4 9,956 5,554 15,510 
Other occupancy, furniture and equipment8,801 2,138 649 3 11,591 5,913 17,504 
FDIC insurance and other regulatory assessments2,717 — — — 2,717 — 2,717 
Professional fees4,285 5,333 2,338 328 12,284 5,555 17,839 
Amortization of intangible assets2,372 1,490 6,763 — 10,625 1,367 11,992 
Advertising and promotion2,033 873 1,479 2 4,387 1,796 6,183 
Communications and technology20,853 10,131 9,440 42 40,466 10,456 50,922 
Software amortization194 2,277 2,899 1 5,371 475 5,846 
Travel and entertainment995 829 1,659 36 3,519 1,909 5,428 
Other10,979 3,588 3,583 7 18,157 4,957 23,114 
Total noninterest expense126,555 78,643 65,973 1,880 273,051 103,584 376,635 
Net intersegment noninterest income (expense)(2)
535 1,628 (2,163)— — — — 
Net income (loss) before income tax expense$114,541 $28,727 $(12,475)$(1,696)$129,097 $(108,629)$20,468 
(Dollars in thousands)TotalCorporate
Year Ended December 31, 2023BankingFactoringPaymentsIntelligenceSegments
and Other(1)
Consolidated
Total interest income$261,639 $144,217 $16,390 $— $422,246 $175 $422,421 
Intersegment interest allocations31,450 (38,157)6,707 — — — — 
Total interest expense44,640 — — — 44,640 9,702 54,342 
Net interest income (expense)248,449 106,060 23,097 — 377,606 (9,527)368,079 
Credit loss expense (benefit)8,498 2,900 60 — 11,458 745 12,203 
Net interest income (expense) after credit loss expense239,951 103,160 23,037 — 366,148 (10,272)355,876 
Noninterest income23,964 7,829 18,087 — 49,880 293 50,173 
Noninterest expense:
Salaries and employee benefits71,050 49,873 35,089 — 156,012 54,595 210,607 
Depreciation6,817 2,040 648 — 9,505 4,296 13,801 
Other occupancy, furniture and equipment8,592 2,219 681 — 11,492 3,592 15,084 
FDIC insurance and other regulatory assessments2,624 — — — 2,624 — 2,624 
Professional fees2,611 3,130 2,448 — 8,189 4,988 13,177 
Amortization of intangible assets2,950 1,821 6,683 — 11,454 — 11,454 
Advertising and promotion2,614 1,046 1,311 — 4,971 1,769 6,740 
Communications and technology17,524 11,289 7,992 — 36,805 8,874 45,679 
Software amortization169 3,060 965 — 4,194 259 4,453 
Travel and entertainment1,263 909 2,479 — 4,651 1,455 6,106 
Other11,499 4,225 3,399 — 19,123 4,386 23,509 
Total noninterest expense127,713 79,612 61,695 — 269,020 84,214 353,234 
Net intersegment noninterest income (expense)(2)
— 123 (123)— — — — 
Net income (loss) before income tax expense$136,202 $31,500 $(20,694)$— $147,008 $(94,193)$52,815 
(1) Includes revenue and expense from the Company’s holding company, which does not meet the definition of an operating segment. Also includes corporate shared service costs such as the majority of salaries and benefits expense for the Company's executive leadership team, as well as other selling, general, and administrative shared services costs including human resources, accounting, finance, risk management and a significant amount of information technology expense.
(2) Net intersegment noninterest income (expense) includes:
(Dollars in thousands)BankingFactoringPayments
Year Ended December 31, 2025
Factoring revenue received from Payments$— $3,643 $(3,643)
Payments revenue received from Factoring— (1,372)1,372 
Banking revenue received from Payments and Factoring588 (458)(130)
Net intersegment noninterest income (expense)$588 $1,813 $(2,401)
Year Ended December 31, 2024
Factoring revenue received from Payments$— $3,228 $(3,228)
Payments revenue received from Factoring— (1,174)1,174 
Banking revenue received from Payments and Factoring535 (426)(109)
Net intersegment noninterest income (expense)$535 $1,628 $(2,163)
Year Ended December 31, 2023
Factoring revenue received from Payments$— $1,190 $(1,190)
Payments revenue received from Factoring— (1,067)1,067 
Banking revenue received from Payments and Factoring— — — 
Net intersegment noninterest income (expense)$— $123 $(123)
Total assets and gross loans below include intersegment loans, which eliminate in consolidation. Effective January, 1, 2025, Triumph Financial Services LLC, the entity through which the Company previously conducted all of its factoring operations, was merged with and into TBK Bank, SSB. Concurrent with the legal entity merger, the Banking segment intercompany advance to the Factoring segment was extinguished.
(Dollars in thousands)TotalCorporate
December 31, 2025BankingFactoringPaymentsIntelligenceSegmentsand OtherEliminationsConsolidated
Total assets$4,480,124 $1,335,150 $774,979 $120,410 $6,710,663 $1,088,885 $(1,418,960)$6,380,588 
Gross loans$3,525,447 $1,223,740 $242,120 $— $4,991,307 $— $— $4,991,307 
(Dollars in thousands)TotalCorporate
December 31, 2024BankingFactoringPaymentsIntelligenceSegmentsand OtherEliminationsConsolidated
Total assets$5,443,452 $1,186,342 $590,063 $10,099 $7,229,956 $1,119,825 $(2,400,806)$5,948,975 
Gross loans$3,944,146 $1,034,992 $171,668 $— $5,150,806 $— $(603,846)$4,546,960