Triumph Bancorp To Raise $175 Mln via Shares Sale

Triumph Bancorp (TBK) said on Monday it has commenced an underwritten public offering of shares to raise $175 million, in addition to an undisclosed size of an over-allotment option, to help fund the pending acquisitions of First Bancorp of Durango and Interstate Capital Corporation.

Stephens Inc., Keefe, Bruyette and Woods and Sandler O’Neill + Partners, L.P. are joint book-runners.

Separately, Triumph said it signed definitive agreements to acquire First Bancorp of Durango, Inc. and Southern Colorado Corp. The company also announced the entry into an asset purchase agreement by Advance Business Capital d/b/a Triumph Business Capital to acquire the transportation factoring assets of Interstate Capital Corporation.

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