0001628280-22-026637 | 10-Q | XBRL Viewer

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Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2022	Oct. 17, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-36722
Entity Registrant Name	TRIUMPH BANCORP, INC.
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	20-0477066
Entity Address, Address Line One	12700 Park Central Drive, Suite 1700
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75251
City Area Code	214
Local Phone Number	365-6900
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		24,478,288
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001539638
Current Fiscal Year End Date	--12-31
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	TBK
Security Exchange Name	NASDAQ
Depositary Shares
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares Each Representing a 1/40th Interest in a Share of 7.125% Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock
Trading Symbol	TBKCP
Security Exchange Name	NASDAQ

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Cash and due from banks	$ 139,937	$ 122,929
Interest bearing deposits with other banks	281,792	260,249
Total cash and cash equivalents	421,729	383,178
Securities - equity investments with readily determinable fair values	4,916	5,504
Securities - available for sale	238,434	182,426
Securities - held to maturity, net of allowance for credit losses of $2,430 and $2,082, respectively, fair value of $5,603 and $5,447, respectively	4,149	4,947
Loans held for sale	78	7,330
Loans, net of allowance for credit losses of $44,111 and $42,213, respectively	4,389,193	4,825,359
Federal Home Loan Bank and other restricted stock	6,213	10,146
Premises and equipment, net	104,272	105,729
Other real estate owned, net	0	524
Goodwill	233,709	233,727
Intangible assets, net	34,895	43,129
Bank-owned life insurance	41,390	40,993
Deferred tax asset, net	14,663	10,023
Indemnification asset	4,173	4,786
Other assets	144,636	98,449
Total assets	5,642,450	5,956,250
Deposits
Noninterest bearing	1,897,309	1,925,370
Interest bearing	2,544,045	2,721,309
Total deposits	4,441,354	4,646,679
Customer repurchase agreements	13,463	2,103
Federal Home Loan Bank advances	30,000	180,000
Paycheck Protection Program Liquidity Facility	0	27,144
Subordinated notes	107,587	106,957
Junior subordinated debentures	41,016	40,602
Other liabilities	117,857	93,901
Total liabilities	4,751,277	5,097,386
Commitments and contingencies - See Note 9 and Note 10
Stockholders' equity - See Note 13
Preferred stock	45,000	45,000
Common stock, 24,478,288 and 25,158,879 shares outstanding, respectively	283	283
Additional paid-in-capital	529,804	510,939
Treasury stock, at cost	(156,949)	(104,743)
Retained earnings	481,697	399,351
Accumulated other comprehensive income (loss)	(8,662)	8,034
Total stockholders’ equity	891,173	858,864
Total liabilities and stockholders' equity	$ 5,642,450	$ 5,956,250

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 2,430	$ 2,355	$ 2,082	$ 1,737	$ 1,727	$ 2,026
Fair Value	5,603		5,447
Allowance for credit losses	$ 44,111		$ 42,213
Common stock, outstanding (in shares)	24,478,288		25,158,879

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Interest and dividend income:
Loans, including fees	$ 44,928	$ 44,882	$ 129,906	$ 139,576
Factored receivables, including fees	53,317	50,516	174,549	135,639
Securities	2,308	1,126	4,815	3,963
FHLB and other restricted stock	65	28	175	131
Cash deposits	2,607	183	3,522	467
Total interest income	103,225	96,735	312,967	279,776
Interest expense:
Deposits	2,743	1,948	7,010	7,790
Subordinated notes	1,304	2,449	3,905	5,148
Junior subordinated debentures	726	443	1,736	1,331
Other borrowings	182	124	539	434
Total interest expense	4,955	4,964	13,190	14,703
Net interest income (expense)	98,270	91,771	299,777	265,073
Credit loss expense (benefit)	2,646	(1,187)	6,048	(10,838)
Net interest income after credit loss expense (benefit)	95,624	92,958	293,729	275,911
Noninterest income:
Net OREO gains (losses) and valuation adjustments	(19)	(9)	(133)	(376)
Net gains (losses) on sale or call of securities	0	4	2,514	5
Net gains (losses) on sale of loans	1,107	377	18,310	2,965
Insurance commissions	1,191	1,231	4,209	3,989
Other	677	1,080	17,643	9,727
Total noninterest income	12,668	12,055	71,949	40,242
Noninterest expense:
Salaries and employee benefits	49,307	43,769	149,848	121,407
Occupancy, furniture and equipment	6,826	6,388	19,769	18,279
FDIC insurance and other regulatory assessments	386	353	1,179	1,830
Professional fees	4,263	2,362	11,529	9,959
Amortization of intangible assets	2,913	3,274	9,085	7,677
Advertising and promotion	1,929	1,403	4,916	3,534
Communications and technology	11,935	7,090	30,867	19,018
Other	9,130	8,174	26,667	22,799
Total noninterest expense	86,689	72,813	253,860	204,503
Net income before income tax expense	21,603	32,200	111,818	111,650
Income tax expense	5,374	7,771	27,068	25,316
Net income	16,229	24,429	84,750	86,334
Dividends on preferred stock	(801)	(802)	(2,404)	(2,405)
Net income available to common stockholders	$ 15,428	$ 23,627	$ 82,346	$ 83,929
Earnings per common share
Basic (in dollars per share)	$ 0.64	$ 0.95	$ 3.36	$ 3.40
Diluted (in dollars per share)	$ 0.62	$ 0.94	$ 3.28	$ 3.33
Service charges on deposits
Noninterest income:
Revenue	$ 1,558	$ 2,030	$ 5,185	$ 5,674
Card income
Noninterest income:
Revenue	2,034	2,144	6,125	6,341
Fee income
Noninterest income:
Revenue	$ 6,120	$ 5,198	$ 18,096	$ 11,917

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 16,229	$ 24,429	$ 84,750	$ 86,334
Unrealized gains (losses) on securities:
Unrealized holding gains (losses) arising during the period	(4,806)	(378)	(13,164)	(1,303)
Tax effect	1,127	89	3,067	300
Unrealized holding gains (losses) arising during the period, net of taxes	(3,679)	(289)	(10,097)	(1,003)
Reclassification of amount realized through sale or call of securities	0	(4)	(2,514)	(5)
Tax effect	0	1	620	1
Reclassification of amount realized through sale or call of securities, net of taxes	0	(3)	(1,894)	(4)
Change in unrealized gains (losses) on securities, net of tax	(3,679)	(292)	(11,991)	(1,007)
Unrealized gains (losses) on derivative financial instruments:
Unrealized holding gains (losses) arising during the period	0	(9)	3,152	3,062
Tax effect	0	2	(754)	(729)
Unrealized holding gains (losses) arising during the period, net of taxes	0	(7)	2,398	2,333
Reclassification of amount of (gains) losses recognized into income	0	18	(9,316)	70
Tax effect	0	(4)	2,213	(17)
Reclassification of amount of (gains) losses recognized into income, net of taxes	0	14	(7,103)	53
Change in unrealized gains (losses) on derivative financial instruments	0	7	(4,705)	2,386
Total other comprehensive income (loss)	(3,679)	(285)	(16,696)	1,379
Comprehensive income	$ 12,550	$ 24,144	$ 68,054	$ 87,713

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-in- Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2020	$ 726,781	$ 45,000	$ 280	$ 489,151	$ (103,052)	$ 289,583	$ 5,819
Beginning balance, common stock (in shares) at Mar. 31, 2021			24,882,929
Beginning balance, treasury stock (in shares) at Dec. 31, 2020					3,083,503
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards (in shares)			4,613
Issuance of restricted stock awards	0
Stock option exercises, net (in shares)			10,205
Stock option exercises, net	191			191
Stock based compensation	1,350			1,350
Forfeiture of restricted stock awards (in shares)			(107)		(107)
Forfeiture of restricted stock awards	0			7	$ (7)
Dividends on preferred stock	(801)					(801)
Net income	33,923					33,923
Other comprehensive income (loss)	2,560						2,560
Ending balance at Mar. 31, 2021	764,004	45,000	$ 280	490,699	$ (103,059)	322,705	8,379
Ending balance, common stock (in shares) at Dec. 31, 2020			24,868,218
Ending balance, treasury stock (in shares) at Mar. 31, 2021					3,083,610
Beginning balance at Dec. 31, 2020	$ 726,781	45,000	$ 280	489,151	$ (103,052)	289,583	5,819
Beginning balance, common stock (in shares) at Sep. 30, 2021			25,123,342
Beginning balance, treasury stock (in shares) at Dec. 31, 2020					3,083,503
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock pursuant to the Employee Stock Purchase Plan (in shares)	0
Net income	$ 86,334
Other comprehensive income (loss)	1,379
Ending balance at Sep. 30, 2021	820,674	45,000	$ 282	499,282	$ (104,600)	373,512	7,198
Ending balance, common stock (in shares) at Dec. 31, 2020			24,868,218
Ending balance, treasury stock (in shares) at Sep. 30, 2021					3,101,579
Beginning balance at Mar. 31, 2021	764,004	45,000	$ 280	490,699	$ (103,059)	322,705	8,379
Beginning balance, common stock (in shares) at Jun. 30, 2021			25,109,703
Beginning balance, treasury stock (in shares) at Mar. 31, 2021					3,083,610
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards (in shares)			224,287
Issuance of restricted stock awards	0		$ 2	(2)
Stock option exercises, net (in shares)			18,934
Stock option exercises, net	(45)			(45)
Stock based compensation	3,386			3,386
Forfeiture of restricted stock awards (in shares)			(2,278)		(2,278)
Forfeiture of restricted stock awards	0			186	$ (186)
Purchase of treasury stock (in shares)			(14,169)		(14,169)
Purchase of treasury stock	(1,241)				$ (1,241)
Dividends on preferred stock	(802)					(802)
Net income	27,982					27,982
Other comprehensive income (loss)	(896)						(896)
Ending balance at Jun. 30, 2021	792,388	45,000	$ 282	494,224	$ (104,486)	349,885	7,483
Ending balance, common stock (in shares) at Mar. 31, 2021			24,882,929
Ending balance, treasury stock (in shares) at Jun. 30, 2021					3,100,057
Beginning balance, common stock (in shares) at Sep. 30, 2021			25,123,342
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards (in shares)			3,651
Issuance of restricted stock awards	0
Stock option exercises, net (in shares)			2,409
Stock option exercises, net	50			50
Issuance of common stock pursuant to the Employee Stock Purchase Plan (in shares)			9,101
Issuance of common stock pursuant to the Employee Stock Purchase Plan	449			449
Stock based compensation	4,445			4,445
Forfeiture of restricted stock awards (in shares)			(1,522)		(1,522)
Forfeiture of restricted stock awards	0			114	$ (114)
Dividends on preferred stock	(802)					(802)
Net income	24,429					24,429
Other comprehensive income (loss)	(285)						(285)
Ending balance at Sep. 30, 2021	820,674	45,000	$ 282	499,282	$ (104,600)	373,512	7,198
Ending balance, common stock (in shares) at Jun. 30, 2021			25,109,703
Ending balance, treasury stock (in shares) at Sep. 30, 2021					3,101,579
Beginning balance at Dec. 31, 2021	858,864	45,000	$ 283	510,939	$ (104,743)	399,351	8,034
Beginning balance, common stock (in shares) at Mar. 31, 2022			25,161,690
Beginning balance, treasury stock (in shares) at Dec. 31, 2021					3,102,801
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards (in shares)			5,502
Issuance of restricted stock awards	0
Stock option exercises, net (in shares)			2,021
Stock option exercises, net	(74)			(74)
Issuance of common stock pursuant to the Employee Stock Purchase Plan (in shares)			10,585
Issuance of common stock pursuant to the Employee Stock Purchase Plan	688			688
Stock based compensation	4,952			4,952
Forfeiture of restricted stock awards (in shares)			(487)		(487)
Forfeiture of restricted stock awards	0			46	$ (46)
Purchase of treasury stock (in shares)			(14,810)		(14,810)
Purchase of treasury stock	(1,316)				$ (1,316)
Dividends on preferred stock	(801)					(801)
Net income	24,329					24,329
Other comprehensive income (loss)	23						23
Ending balance at Mar. 31, 2022	$ 886,665	45,000	$ 283	516,551	$ (106,105)	422,879	8,057
Ending balance, common stock (in shares) at Dec. 31, 2021	25,158,879		25,158,879
Ending balance, treasury stock (in shares) at Mar. 31, 2022					3,118,098
Beginning balance at Dec. 31, 2021	$ 858,864	45,000	$ 283	510,939	$ (104,743)	399,351	8,034
Beginning balance, common stock (in shares) at Sep. 30, 2022	24,478,288		24,478,288
Beginning balance, treasury stock (in shares) at Dec. 31, 2021					3,102,801
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock pursuant to the Employee Stock Purchase Plan (in shares)	24,516
Net income	$ 84,750
Other comprehensive income (loss)	(16,696)
Ending balance at Sep. 30, 2022	$ 891,173	45,000	$ 283	529,804	$ (156,949)	481,697	(8,662)
Ending balance, common stock (in shares) at Dec. 31, 2021	25,158,879		25,158,879
Ending balance, treasury stock (in shares) at Sep. 30, 2022					3,843,428
Beginning balance at Mar. 31, 2022	$ 886,665	45,000	$ 283	516,551	$ (106,105)	422,879	8,057
Beginning balance, common stock (in shares) at Jun. 30, 2022			24,457,777
Beginning balance, treasury stock (in shares) at Mar. 31, 2022					3,118,098
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of performance stock units (in shares)			20,996
Vesting of performance stock units	0
Stock option exercises, net (in shares)			32
Stock option exercises, net	0
Stock based compensation	7,880			7,880
Forfeiture of restricted stock awards (in shares)			(2,417)		(2,417)
Forfeiture of restricted stock awards	0			205	$ (205)
Purchase of treasury stock (in shares)			(722,524)		(722,524)
Purchase of treasury stock	(50,614)				$ (50,614)
Dividends on preferred stock	(802)					(802)
Net income	44,192					44,192
Other comprehensive income (loss)	(13,040)						(13,040)
Ending balance at Jun. 30, 2022	$ 874,281	45,000	$ 283	524,636	$ (156,924)	466,269	(4,983)
Ending balance, common stock (in shares) at Mar. 31, 2022			25,161,690
Ending balance, treasury stock (in shares) at Jun. 30, 2022					3,843,039
Beginning balance, common stock (in shares) at Sep. 30, 2022	24,478,288		24,478,288
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards (in shares)			6,969
Issuance of restricted stock awards	$ 0		$ 0	0
Issuance of common stock pursuant to the Employee Stock Purchase Plan (in shares)			13,931
Issuance of common stock pursuant to the Employee Stock Purchase Plan	860			860
Stock based compensation	4,296			4,296
Forfeiture of restricted stock awards (in shares)			(194)		(194)
Forfeiture of restricted stock awards	0			12	$ (12)
Purchase of treasury stock (in shares)			(195)		(195)
Purchase of treasury stock	(13)				$ (13)
Dividends on preferred stock	(801)					(801)
Net income	16,229					16,229
Other comprehensive income (loss)	(3,679)						(3,679)
Ending balance at Sep. 30, 2022	$ 891,173	$ 45,000	$ 283	$ 529,804	$ (156,949)	$ 481,697	$ (8,662)
Ending balance, common stock (in shares) at Jun. 30, 2022			24,457,777
Ending balance, treasury stock (in shares) at Sep. 30, 2022					3,843,428

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income	$ 84,750	$ 86,334
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	9,979	8,992
Net accretion on loans	(6,631)	(7,615)
Amortization of subordinated notes issuance costs	630	1,022
Amortization of junior subordinated debentures	414	395
Net (accretion) amortization on securities	(609)	(465)
Amortization of intangible assets	9,085	7,677
Deferred taxes	524	5,432
Credit loss expense (benefit)	6,048	(10,838)
Stock based compensation	17,128	9,181
Net (gains) losses on sale or call of debt securities	(2,514)	(5)
Net (gains) losses on equity securities	(9,575)	203
Net OREO (gains) losses and valuation adjustments	133	376
Origination of loans held for sale	(10,402)	(32,645)
Purchases of loans held for sale	(6,913)	(19,001)
Proceeds from sale of loans originated or purchased for sale	17,673	50,931
Net (gains) losses on sale of loans	(18,310)	(2,965)
Net change in operating leases	272	468
(Increase) decrease in other assets	(37,308)	(19,275)
Increase (decrease) in other liabilities	9,107	11,071
Net cash provided by (used in) operating activities	63,481	89,273
Cash flows from investing activities:
Purchases of securities available for sale	(117,440)	(18,250)
Proceeds from sales of securities available for sale	40,163	0
Proceeds from maturities, calls, and pay downs of securities available for sale	23,562	76,864
Proceeds from maturities, calls, and pay downs of securities held to maturity	578	762
Purchases of loans held for investment	(133,674)	(77,571)
Proceeds from sale of loans	207,406	63,028
Net change in loans	285,854	227,650
Purchases of premises and equipment, net	(8,522)	(9,899)
Net proceeds from sale of OREO	438	807
(Purchases) redemptions of FHLB and other restricted stock, net	3,933	1,850
Net cash (paid for) received in acquisitions	0	(96,926)
Proceeds from sale of disposal group	85,923	0
Net cash provided by (used in) investing activities	388,221	168,315
Cash flows from financing activities:
Net increase (decrease) in deposits	(194,494)	105,975
Increase (decrease) in customer repurchase agreements	11,360	8,891
Increase (decrease) in Federal Home Loan Bank advances	(150,000)	(75,000)
Proceeds from other borrowings, net	0	294,854
Repayment of other borrowings	(27,144)	(370,936)
Preferred dividends	(2,404)	(2,405)
Stock option exercises, net	(74)
Stock option exercises, net		196
Proceeds from employee stock purchase plan common stock issuance	1,548	449
Purchase of treasury stock	(51,943)	(1,241)
Net cash provided by (used in) financing activities	(413,151)	(39,217)
Net increase (decrease) in cash and cash equivalents	38,551	218,371
Cash and cash equivalents at beginning of period	383,178	314,393
Cash and cash equivalents at end of period	421,729	532,764
Supplemental cash flow information:
Interest paid	11,416	15,551
Income taxes paid, net	45,035	36,353
Cash paid for operating lease liabilities	2,691	3,440
Supplemental noncash disclosures:
Loans transferred to OREO	47	644
Loans held for investment transferred to loans held for sale	197,899	76,976
Assets transferred to assets held for sale	80,819	0
Deposits transferred to deposits held for sale	10,434	0
Lease liabilities arising from obtaining right-of-use assets	5,267	19,404
Securities available for sale purchased, not settled	14,976	0
Non-cash consideration received from sale of loan portfolio or disposal group	5,529	0
Indemnification Asset
Supplemental noncash disclosures:
Indemnification reduction	$ 0	$ 35,633

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations Triumph Bancorp, Inc. (collectively with its subsidiaries, “Triumph”, or the “Company” as applicable) is a financial holding company headquartered in Dallas, Texas offering a diversified line of payments, factoring and banking services. The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries Triumph CRA Holdings, LLC (“TCRA”), TBK Bank, SSB (“TBK Bank”), TBK Bank’s wholly owned subsidiary Advance Business Capital LLC, which currently operates under the d/b/a of Triumph Business Capital (“TBC”), and TBK Bank’s wholly owned subsidiary Triumph Insurance Group, Inc. (“TIG”). TriumphPay operates as a division of TBK Bank, SSB. Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with United States Generally Accepted Accounting Principles (“GAAP”) for interim financial information and in accordance with guidance provided by the Securities and Exchange Commission (“SEC”). Accordingly, the condensed financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal and recurring adjustments considered necessary for a fair presentation. Transactions between the subsidiaries have been eliminated. These condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Operating results for the three and nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. Operating Segments The Company’s reportable segments are comprised of strategic business units primarily based upon industry categories and, to a lesser extent, the core competencies relating to product origination, distribution methods, operations and servicing. Segment determination also considered organizational structure and is consistent with the presentation of financial information to the chief operating decision maker to evaluate segment performance, develop strategy, and allocate resources. The Company's chief operating decision maker is the Chief Executive Officer of Triumph Bancorp, Inc. Management has determined that the Company has four reportable segments consisting of Banking, Factoring, Payments, and Corporate. 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 includes the operations of TBC with revenue derived from factoring services. The Payments segment includes the operations of the TBK Bank's TriumphPay division, which is the payments network for presentment, audit, and payment of over-the-road trucking invoices. 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 freight 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 freight brokers. The Corporate segment includes holding company financing and investment activities and management and administrative expenses to support the overall operations of the Company. Newly Issued, But Not Yet Effective Accounting Standards In March 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2022-02, "Financial Instruments – Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures" ("ASU 2022-02"). ASU 2022-02 eliminates the accounting guidance for troubled debt restructurings ("TDRs") in ASC 310-40, "Receivables - Troubled Debt Restructurings by Creditors" for entities that have adopted the current expected credit loss ("CECL") model introduced by ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (ASU 2016-13"). ASU 2022-02 also requires that public business entities disclose current-period gross charge-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, "Financial Instruments—Credit Losses—Measured at Amortized Cost". ASU 2022-02 is effective for the Company for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted. The Company is evaluating the effect that ASU 2022-02 will have on its consolidated financial statements and related disclosures.

Acquisitions and Divestitures

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Acquisitions and Divestitures

ACQUISITIONS AND DIVESTITURES

Equipment Loan Sale

During the quarter ended June 30, 2022, the Company made the decision to sell a portfolio of equipment loans for cash consideration. The sale closed on June 23, 2022. A summary of the carrying amount of the assets sold and the gain on sale is as follows:


(Dollars in thousands)
Equipment loans	$	191,167
Accrued interest receivable	$	1,587
Assets sold	$	192,754

Cash consideration	$	197,454
Return of premium liability	$	(708)
Total consideration	$	196,746
Transaction costs	$	73
Gain on sale, net of transaction costs	$	3,919

The associated agreement contains a provision that in the event that a sold loan is prepaid in full prior to the due date of the final scheduled contractual payment, the Company will return a pro-rata portion of the premium calculated as of the date of such prepayment in full. As this transaction qualified as a sale of a group of entire financial assets, management must recognize, as proceeds, any assets obtained and liabilities incurred. Thus, management recorded a $708,000 liability for the potential return of premium measured at fair value as of the date of close. Management has elected the fair value option to account for the liability. It is recorded in other liabilities in the Company's Consolidated Balance Sheet and is marked to fair value through earnings at each reporting period.

The gain on sale, net of transaction costs, was included in net gains (losses) on sale of loans in the Company’s Consolidated Statements of Income and was allocated to the Banking segment.

Factored Receivable Disposal Group

On June 30, 2022 and September 6, 2022, the Company entered into and closed two separate agreements to sell two separate portfolios of factored receivables. A summary of the carrying amounts of the assets and liabilities sold and the gains on sale are as follows:


(Dollars in thousands)	September 6, 2022		June 30, 2022		Total
Factored receivables	$	20,131	$	67,888	$	88,019
Accrued interest and fee income	17		—		17
Assets held for sale	$	20,148	$	67,888	$	88,036

Customer reserve noninterest bearing deposits	$	1,149	$	9,682	$	10,831
Liabilities held for sale	$	1,149	$	9,682	$	10,831
Net assets sold	$	18,999	$	58,206	$	77,205
Cash consideration	$	19,054	$	66,292	$	85,346
Revenue share asset	1,027		5,210		6,237
Total consideration	$	20,081	$	71,502	$	91,583
Transaction costs	49		82		131
Gain on sale, net of transaction costs	$	1,033	$	13,214	$	14,247

The June 30, 2022 agreement contains a revenue share provision that entitles the Company to an amount equal to fifteen percent of the future gross monthly revenue of the clients associated with the sold factored receivable portfolio. As this transaction qualified as a sale of a group of entire financial assets, management recognized, as proceeds, the assets obtained and liabilities incurred. Thus, management recorded a $5,210,000 asset for the contractual right to receive future cash flows from a third party measured at fair value as of the date of close. This is a financial asset for which management elected the fair value option. It is recorded in other assets in the Company's Consolidated Balance Sheet and is marked to fair value through earnings at each reporting period.

The September 6, 2022 agreement contains a revenue share provision that entitles the Company to an amount equal to a range of fifteen to twenty percent, depending on client, of the future gross monthly revenue of the clients associated with the sold factored receivable portfolio. As this transaction qualified as a sale of a group of entire financial assets, management recognized, as proceeds, the assets obtained and liabilities incurred. Thus, management recorded a $1,027,000 asset for the contractual right to receive future cash flows from a third party measured at fair value as of the date of close. This is a financial asset for which management elected the fair value option. It is recorded in other assets in the Company's Consolidated Balance Sheet and will be marked to fair value through earnings at each reporting period.

The gains on sale, net of transaction costs, were included in net gains (losses) on sale of loans in the Company’s Consolidated Statements of Income and were allocated to the Factoring segment.

HubTran Inc.

On June 1, 2021, the Company, through TriumphPay, a division of the Company's wholly-owned subsidiary TBK Bank, SSB, acquired HubTran, Inc. ("HubTran"), a cloud-based provider of automation software for the trucking industry's back-office.

A summary of the estimated fair values of assets acquired, liabilities assumed, consideration transferred, and the resulting goodwill is as follows:


(Dollars in thousands)	Initial Values		Measurement Period Adjustments		Adjusted Values
Assets acquired:
Cash	$	170	$	—	$	170
Intangible assets - capitalized software	16,932		—		16,932
Intangible assets - customer relationship	10,360		—		10,360
Other assets	1,546		24		1,570
	29,008		24		29,032
Liabilities assumed:
Deferred income taxes	4,703		(3,248)		1,455
Other liabilities	906		16		922
	5,609		(3,232)		2,377
Fair value of net assets acquired	$	23,399	$	3,256	$	26,655
Consideration:
Cash paid	$	97,096	$	—	$	97,096
Goodwill	$	73,697	$	(3,256)	$	70,441

The Company has recognized goodwill of $70,441,000, which included measurement period adjustments related to customary settlement adjustments and the finalization of the HubTran stub period tax return and its impact on the acquired deferred tax liability. Goodwill was calculated as the excess of the fair value of consideration exchanged as compared to the fair value of identifiable net assets acquired and was allocated to the Company’s Payments segment. The goodwill in this acquisition resulted from expected synergies and progress in the development of a fully integrated open loop payments network for the transportation industry. The goodwill will not be deducted for tax purposes.

The intangible assets recognized include a capitalized software intangible asset with an acquisition date fair value of $16,932,000 which will be amortized on a straight-line basis over its four year estimated useful life and customer relationship intangible assets with an acquisition date fair value of $10,360,000 which will be amortized utilizing an accelerated method over their eleven year estimated useful lives.

Revenue and earnings of HubTran since the acquisition date have not been disclosed as the acquired company was merged into the Company and separate financial information is not readily available.

Expenses related to the acquisition, including professional fees and other transaction costs, totaling $2,992,000 were recorded in noninterest expense in the consolidated statements of income during the three months ended June 30, 2021.

Transportation Financial Solutions

On July 8, 2020, the Company, through its wholly-owned subsidiary Advance Business Capital LLC (“ABC”), acquired the transportation factoring assets (the “TFS Acquisition”) of Transport Financial Solutions (“TFS”), a wholly owned subsidiary of Covenant Logistics Group, Inc. ("CVLG"), in exchange for cash consideration of $108,375,000, 630,268 shares of the Company’s common stock valued at approximately $13,942,000, and contingent consideration of up to approximately $9,900,000 to be paid in cash following the twelve-month period ending July 31, 2021.

Subsequent to the closing of the TFS Acquisition, the Company identified that approximately $62,200,000 of the assets acquired at closing were advances against future payments to be made to three large clients (and their affiliated entities) of TFS pursuant to long-term contractual arrangements between the obligor on such contracts and such clients (and their affiliated entities) for services that had not yet been performed.

On September 23, 2020, the Company and ABC entered into an Account Management Agreement, Amendment to Purchase Agreement and Mutual Release (the “Agreement”) with CVLG and Covenant Transport Solutions, LLC, a wholly owned subsidiary of CVLG (“CTS” and, together with CVLG, "Covenant"). Pursuant to the Agreement, the parties agreed to certain amendments to that certain Accounts Receivable Purchase Agreement (the “ARPA”), dated as of July 8, 2020, by and among ABC, as buyer, CTS, as seller, and the Company, as buyer indirect parent. Such amendments include:

•Return of the portion of the purchase price paid under the ARPA consisting of 630,268 shares of Company common stock, which will be accomplished through the sale of such shares by Covenant pursuant to the terms of the Agreement and the surrender of the cash proceeds of such sale (net of brokerage or underwriting fees and commissions) to the Company;

•Elimination of the earn-out consideration potentially payable to CTS under the ARPA; and

•Modification of the indemnity provisions under the ARPA to eliminate the existing indemnifications for breaches of representations and warranties and to replace such with a newly established indemnification by Covenant in the event ABC incurs losses related to the $62,200,000 in over-formula advances made to specified clients identified in the Agreement (the “Over-Formula Advance Portfolio”). Under the terms of the new indemnification arrangement, Covenant will be responsible for and will indemnify ABC for 100% of the first $30,000,000 of any losses incurred by ABC related to the Over-Formula Advance Portfolio, and for 50% of the next $30,000,000 of any losses incurred by ABC, for total indemnification by Covenant of $45,000,000.

Covenant’s indemnification obligations under the Agreement were secured by a pledge of equipment collateral by Covenant with an estimated net orderly liquidation value of $60,000,000 (the “Equipment Collateral”). The Company’s wholly-owned bank subsidiary, TBK Bank, SSB, has provided Covenant with a $45,000,000 line of credit, also secured by the Equipment Collateral, the proceeds of which may be drawn to satisfy Covenant’s indemnification obligations under the Agreement.

Pursuant to the Agreement, Triumph and Covenant have agreed to certain terms related to the management of the Over-Formula Advance Portfolio, and the terms by which Covenant may provide assistance to maximize recovery on the Over-Formula Advance Portfolio.

Pursuant to the Agreement, the Company and Covenant have provided mutual releases to each other related to any and all claims related to the transactions contemplated by the ARPA or the Over-Formula Advance Portfolio.

The indemnification asset created by the ARPA is measured separately from the related covered portfolio. It is not contractually embedded in the covered portfolio nor is it transferable with the covered portfolio should the Company choose to dispose of the portfolio or a portion of the portfolio. The indemnification asset was initially recorded in other assets in the Consolidated Balance Sheets at the time of the TFS Acquisition at a fair value of $30,959,000, measured as the present value of the estimated cash payments expected to be received from Covenant for probable losses on the covered Over-Formula Advance Portfolio. These cash flows were discounted at a rate to reflect the uncertainty of the timing and receipt of the payments from Covenant. The amount ultimately collected for this asset will be dependent upon the performance of the underlying covered portfolio, the passage of time, and Covenant's willingness and ability to make necessary payments. The terms of the Agreement are such that indemnification has no expiration date and the Company will continue to carry the indemnification asset until ultimate resolution of the covered portfolio. The indemnification asset is reviewed quarterly and changes to the asset are recorded as adjustments to other noninterest income, as appropriate, within the Consolidated Statements of Income. The value of the indemnification asset was $4,173,000 and $4,786,000 at September 30, 2022 and December 31, 2021, respectively.

During the three months ended March 31, 2021, new adverse developments with the largest of the three Over-Formula Advance clients caused the Company to charge-off the entire Over-Formula Advance amount due from that client. This resulted in a net charge-off of $41,265,000; however, this net charge-off had no impact on credit loss expense for the three months ended March 31, 2021 as the entire amount had been reserved in a prior period. In accordance with the Agreement reached with Covenant, Covenant reimbursed the Company for $35,633,000 of this charge-off by drawing on its secured line of credit, which was reflected on the Company's March 31, 2021 Consolidated Balance Sheet as a current and performing equipment loan held for investment. Given separate developments with the other two Over-Formula Advance clients, the Company reserved an additional $2,844,000 reflected in credit loss expense for the three months ended March 31, 2021. The $2,844,000 increase in required ACL as well as accretion of most of the fair value discount on the indemnification asset held at December 31, 2020 resulted in a $4,654,000 gain on the indemnification asset which was recorded through non-interest income. Since March 31, 2021, Covenant has paid down its secured line of credit with TBK in its entirety and carries no outstanding balance at September 30, 2022. At September 30, 2022, Covenant had remaining availability of $9,361,000 on its TBK line of credit available to cover our undiscounted indemnification balance of $4,393,000.

During the nine months ended September 30, 2022, there were no material changes in the underlying credit quality of the remaining two Over-Formula Advance clients. As such, there were no charge-offs related to these balances. One of the remaining Over-Formula Advance clients has made payments totaling $1,291,000 during the nine months ended September 30, 2022, which resulted in a dollar-for-dollar reduction in the required ACL as well as a write-off of a portion of the corresponding indemnification asset. The impact of the payment to net income available to common stockholders for the nine months ended September 30, 2022 was not significant.

Securities

9 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Securities

SECURITIES

Equity Securities With Readily Determinable Fair Values

The Company held equity securities with readily determinable fair values of $4,916,000 and $5,504,000 at September 30, 2022 and December 31, 2021, respectively. The gross realized and unrealized losses recognized on equity securities with readily determinable fair values in noninterest income in the Company’s consolidated statements of income were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Unrealized gains (losses) on equity securities held at the reporting date	$	(134)	$	(231)	$	(588)	$	(203)
Realized gains (losses) on equity securities sold during the period	—		—		—		—
	$	(134)	$	(231)	$	(588)	$	(203)

Equity Securities Without Readily Determinable Fair Values

The following table summarizes the Company's investments in equity securities without readily determinable fair values:


(Dollars in thousands)	September 30, 2022		December 31, 2021
Equity Securities without readily determinable fair value, at cost	$	38,846	$	14,671
Upward adjustments based on observable price changes, cumulative	10,163		—
Equity Securities without readily determinable fair value, carrying value	$	49,009	$	14,671

Equity securities without readily determinable fair values include Federal Home Loan Bank and other restricted stock, which are reported separately in the Company's consolidated balance sheets, and other investments, which are included in other assets in the Company's consolidated balance sheets.

The gross realized and unrealized gains (losses) recognized on equity securities without readily determinable fair values in noninterest income in the Company’s consolidated statements of income were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Unrealized gains (losses) on equity securities still held at the reporting date	$	—	$	—	$	10,163	$	—
Realized gains (losses) on equity securities sold during the period	—		—		—		—
	$	—	$	—	$	10,163	$	—

During the three months ended June 30, 2022, the Company adjusted the fair value of an equity security without readily determinable fair value upwards due to an orderly and observable transaction for an identical investment. For further information on this transaction, see Note 6 – Equity Method Investment.

Debt Securities

Debt securities have been classified in the financial statements as available for sale or held to maturity. The following table summarizes the amortized cost, fair value, and allowance for credit losses of debt securities and the corresponding amounts of gross unrealized gains and losses of available for sale securities recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses of held to maturity securities:


(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
September 30, 2022
Available for sale securities:
Mortgage-backed securities, residential	$	49,962	$	—	$	(5,287)	$	—	$	44,675
Asset-backed securities	6,501		—		(25)		—		6,476
State and municipal	14,485		2		(225)		—		14,262
CLO securities	175,386		25		(5,703)		—		169,708
Corporate bonds	1,270		1		(22)		—		1,249
SBA pooled securities	2,146		45		(127)		—		2,064
Total available for sale securities	$	249,750	$	73	$	(11,389)	$	—	$	238,434


(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrecognized Losses		Fair Value
September 30, 2022
Held to maturity securities:
CLO securities	$	6,579	$	455	$	(1,431)	$	5,603
Allowance for credit losses	(2,430)
Total held to maturity securities, net of ACL	$	4,149


(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
December 31, 2021
Available for sale securities:
Mortgage-backed securities, residential	$	36,885	$	720	$	(156)	$	—	$	37,449
Asset-backed securities	6,763		2		(1)		—		6,764
State and municipal	26,309		516		—		—		26,825
CLO Securities	103,579		3,109		(54)		—		106,634
Corporate bonds	1,992		64		—		—		2,056
SBA pooled securities	2,536		162		—		—		2,698
Total available for sale securities	$	178,064	$	4,573	$	(211)	$	—	$	182,426


(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrecognized Losses		Fair Value
December 31, 2021
Held to maturity securities:
CLO securities	$	7,029	$	—	$	(1,582)	$	5,447
Allowance for credit losses	(2,082)
Total held to maturity securities, net of ACL	$	4,947

The amortized cost and estimated fair value of securities at September 30, 2022, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.


	Available for Sale Securities				Held to Maturity Securities
(Dollars in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	1,527	$	1,525	$	—	$	—
Due from one year to five years	3,122		3,067		—		—
Due from five years to ten years	53,433		51,539		6,579		5,603
Due after ten years	133,059		129,088		—		—
	191,141		185,219		6,579		5,603
Mortgage-backed securities, residential	49,962		44,675		—		—
Asset-backed securities	6,501		6,476		—		—
SBA pooled securities	2,146		2,064		—		—
	$	249,750	$	238,434	$	6,579	$	5,603

Proceeds from sales of debt securities and the associated gross gains and losses as well as net gains and losses from calls of debt securities are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Proceeds	$	—	$	—	$	40,163	$	—
Gross gains	—		—		2,512		—
Gross losses	—		—		—		—
Net gains and losses from calls of securities	—		4		2		5

Debt securities with a carrying amount of approximately $96,198,000 and $72,805,000 at September 30, 2022 and December 31, 2021, respectively, were pledged to secure public deposits, customer repurchase agreements, and for other purposes required or permitted by law.

Accrued interest on available for sale securities totaled $1,764,000 and $802,000 at September 30, 2022 and December 31, 2021, respectively, and was included in other assets on the Company's consolidated balance sheets. There was no accrued interest related to debt securities reversed against interest income for the three and nine months ended September 30, 2022 and 2021.

The following table summarizes available for sale debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time that individual securities have been in a continuous loss position:


	Less than 12 Months				12 Months or More				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
September 30, 2022
Available for sale securities:
Mortgage-backed securities, residential	$	44,500	$	(5,287)	$	3	$	—	$	44,503	$	(5,287)
Asset-backed securities	1,479		(21)		4,996		(4)		6,475		(25)
State and municipal	12,981		(225)		—		—		12,981		(225)
CLO securities	140,066		(5,119)		9,666		(584)		149,732		(5,703)
Corporate bonds	748		(22)		—		—		748		(22)
SBA pooled securities	1,380		(127)		—		—		1,380		(127)
	$	201,154	$	(10,801)	$	14,665	$	(588)	$	215,819	$	(11,389)


	Less than 12 Months				12 Months or More				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
December 31, 2021
Available for sale securities:
Mortgage-backed securities, residential	$	20,386	$	(155)	$	6	$	(1)	$	20,392	$	(156)
Asset-backed securities	37		—		4,999		(1)		5,036		(1)
State and municipal	30		—		—		—		30		—
CLO Securities	22,707		(54)		—		—		22,707		(54)
Corporate bonds	—		—		—		—		—		—
SBA pooled securities	—		—		—		—		—		—
	$	43,160	$	(209)	$	5,005	$	(2)	$	48,165	$	(211)

Management evaluates available for sale debt securities in unrealized loss positions to determine whether the impairment is due to credit-related factors or noncredit-related factors. Consideration is given to (1) the extent to which the fair value is less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the security for a period of time sufficient to allow for any anticipated recovery in fair value.

At September 30, 2022, the Company had 140 available for sale debt securities in an unrealized loss position without an allowance for credit losses. Management does not have the intent to sell any of these securities and believes that it is more likely than not that the Company will not have to sell any such securities before a recovery of cost. The fair value is expected to recover as the securities approach their maturity date or repricing date or if market yields for such investments decline. Accordingly, as of September 30, 2022, management believes that the unrealized losses detailed in the previous table are due to noncredit-related factors, including changes in interest rates and other market conditions, and therefore no losses have been recognized in the Company’s consolidated statements of income.

The following table presents the activity in the allowance for credit losses for held to maturity debt securities:


(Dollars in thousands)	Three Months Ended September 30,				Nine Months Ended September 30,
Held to Maturity CLO Securities	2022		2021		2022		2021
Allowance for credit losses:
Beginning balance	$	2,355	$	1,727	$	2,082	$	2,026
Credit loss expense	75		10		348		(289)
Allowance for credit losses ending balance	$	2,430	$	1,737	$	2,430	$	1,737

The Company’s held to maturity securities are investments in the unrated subordinated notes of collateralized loan obligation funds. These securities are the junior-most in securitization capital structures, and are subject to suspension of distributions if the credit of the underlying loan portfolios deteriorates materially. The ACL on held to maturity securities is estimated at each measurement date on a collective basis by major security type. At September 30, 2022 and December 31, 2021, the Company’s held to maturity securities consisted of three investments in the subordinated notes of collateralized loan obligation (“CLO”) funds. Expected credit losses for these securities are estimated using a discounted cash flow methodology which considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. Ultimately, the realized cash flows on CLO securities such as these will be driven by a variety of factors, including credit performance of the underlying loan portfolio, adjustments to the portfolio by the asset manager, and the timing of a potential call. At September 30, 2022, $5,130,000 of the Company’s held to maturity securities were classified as nonaccrual.

Loans and Allowance for Credit Losses

9 Months Ended

Sep. 30, 2022

Receivables [Abstract]

Loans and Allowance for Credit Losses

LOANS AND ALLOWANCE FOR CREDIT LOSSES

Loans Held for Sale

The following table presents loans held for sale:


(Dollars in thousands)	September 30, 2022		December 31, 2021
1-4 family residential	$	68	$	712
Commercial	10		6,618
Total loans held for sale	$	78	$	7,330

Loans Held for Investment

Loans

The following table presents the amortized cost and unpaid principal balance of loans held for investment:


	September 30, 2022						December 31, 2021
(Dollars in thousands)	Amortized Cost		Unpaid Principal		Difference		Amortized Cost		Unpaid Principal		Difference
Commercial real estate	$	669,742	$	670,980	$	(1,238)	$	632,775	$	634,319	$	(1,544)
Construction, land development, land	75,527		75,606		(79)		123,464		123,643		(179)
1-4 family residential	122,594		122,804		(210)		123,115		123,443		(328)
Farmland	66,595		66,838		(243)		77,394		77,905		(511)
Commercial	1,282,199		1,295,015		(12,816)		1,430,429		1,440,542		(10,113)
Factored receivables	1,449,080		1,453,591		(4,511)		1,699,537		1,703,936		(4,399)
Consumer	9,506		9,509		(3)		10,885		10,883		2
Mortgage warehouse	758,061		758,061		—		769,973		769,973		—
Total loans held for investment	4,433,304		$	4,452,404	$	(19,100)	4,867,572		$	4,884,644	$	(17,072)
Allowance for credit losses	(44,111)						(42,213)
	$	4,389,193					$	4,825,359

The difference between the amortized cost and the unpaid principal is due to (1) premiums and discounts associated with acquired loans totaling $14,263,000 and $11,723,000 at September 30, 2022 and December 31, 2021, respectively, and (2) net deferred origination and factoring fees totaling $4,837,000 and $5,349,000 at September 30, 2022 and December 31, 2021, respectively.

Accrued interest on loans, which is excluded from the amortized cost of loans held for investment, totaled $16,159,000 and $14,513,000 at September 30, 2022 and December 31, 2021, respectively, and was included in other assets on the Company's consolidated balance sheets.

At September 30, 2022 and December 31, 2021, the Company had $249,729,000 and $254,970,000, respectively, of customer reserves associated with factored receivables. These amounts represent customer reserves held to settle any payment disputes or collection shortfalls, may be used to pay customers’ obligations to various third parties as directed by the customer, are periodically released to or withdrawn by customers, and are reported as deposits in the consolidated balance sheets.

At September 30, 2022 and December 31, 2021 the balance of the Over-Formula Advance Portfolio included in factored receivables was $8,785,000 and $10,077,000, respectively. These balances were fully reserved as of those respective dates.

At September 30, 2022 the Company carried a separate $19,361,000 receivable (the “Misdirected Payments”) payable by the United States Postal Service (“USPS”) arising from accounts factored to the largest Over-Formula Advance Portfolio 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. We are a party to 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 September 30, 2022.

Loans with carrying amounts of $1,416,089,000 and $1,733,917,000 at September 30, 2022 and December 31, 2021, respectively, were pledged to secure Federal Home Loan Bank borrowing capacity, Paycheck Protection Program Liquidity Facility borrowings and Federal Reserve Bank discount window borrowing capacity.

Allowance for Credit Losses

The Company’s estimate of the ACL reflects losses expected over the remaining contractual life of the assets. The contractual term does not consider extensions, renewals or modifications unless the Company has identified an expected troubled debt restructuring. The activity in the allowance for credit losses (“ACL”) related to loans held for investment is as follows:


(Dollars in thousands)	Beginning Balance		Credit Loss Expense		Charge-offs		Recoveries		Ending Balance
Three months ended September 30, 2022
Commercial real estate	$	5,167	$	(373)	$	—	$	—	$	4,794
Construction, land development, land	1,192		(198)		—		1		995
1-4 family residential	757		(16)		—		1		742
Farmland	490		(23)		—		—		467
Commercial	12,738		3,431		(208)		59		16,020
Factored receivables	22,212		183		(2,433)		172		20,134
Consumer	197		62		(106)		49		202
Mortgage warehouse	654		103		—		—		757
	$	43,407	$	3,169	$	(2,747)	$	282	$	44,111


(Dollars in thousands)	Beginning Balance		Credit Loss Expense		Charge-offs		Recoveries		Ending Balance
Three months ended September 30, 2021
Commercial real estate	$	4,404	$	(453)	$	(17)	$	2	$	3,936
Construction, land development, land	1,490		(434)		—		1		1,057
1-4 family residential	545		(64)		(1)		5		485
Farmland	669		(59)		—		—		610
Commercial	15,674		(1,187)		(211)		—		14,276
Factored receivables	21,823		1,186		(3,597)		239		19,651
Consumer	236		153		(139)		—		250
Mortgage warehouse	853		(101)		—		—		752
	$	45,694	$	(959)	$	(3,965)	$	247	$	41,017


(Dollars in thousands)	Beginning Balance		Credit Loss Expense		Charge-offs		Recoveries		Ending Balance
Nine Months Ended September 30, 2022
Commercial real estate	$	3,961	$	881	$	(108)	$	60	$	4,794
Construction, land development, land	827		165		—		3		995
1-4 family residential	468		268		—		6		742
Farmland	562		(95)		—		—		467
Commercial	14,485		2,417		(1,192)		310		16,020
Factored receivables	20,915		2,298		(3,853)		774		20,134
Consumer	226		180		(313)		109		202
Mortgage warehouse	769		(12)		—		—		757
	$	42,213	$	6,102	$	(5,466)	$	1,262	$	44,111


(Dollars in thousands)	Beginning Balance		Credit Loss Expense		Charge-offs		Recoveries		Ending Balance
Nine months ended September 30, 2021
Commercial real estate	$	10,182	$	(6,239)	$	(17)	$	10	$	3,936
Construction, land development, land	3,418		(2,352)		(12)		3		1,057
1-4 family residential	1,225		(804)		(26)		90		485
Farmland	832		(222)		—		—		610
Commercial	22,040		(7,936)		(426)		598		14,276
Factored receivables	56,463		8,547		(45,683)		324		19,651
Consumer	542		(99)		(285)		92		250
Mortgage warehouse	1,037		(285)		—		—		752
	$	95,739	$	(9,390)	$	(46,449)	$	1,117	$	41,017

The increase in required ACL during the three months ended September 30, 2022 is a function of net charge-offs of $2,465,000 and credit loss expense of $3,169,000. The increase in required ACL during the nine months ended September 30, 2022 is a function of net charge-offs of $4,204,000 and credit loss expense of $6,102,000.

The Company uses the discounted cash flow (DCF) method to estimate ACL for the commercial real estate, construction, land development, land, 1-4 family residential, commercial (excluding liquid credit and PPP), and consumer loan pools. For all loan pools utilizing the DCF method, the Company utilizes and forecasts national unemployment as a loss driver. The Company also utilizes and forecasts either one-year percentage change in national retail sales (commercial real estate – non multifamily, commercial general, commercial agriculture, commercial asset-based lending, commercial equipment finance, consumer), one-year percentage change in the national home price index (1-4 family residential and construction, land development, land), or one-year percentage change in national gross domestic product (commercial real estate – multifamily) as a second loss driver depending on the nature of the underlying loan pool and how well that loss driver correlates to expected future losses. Consistent forecasts of the loss drivers are used across the loan segments. The Company also forecasts prepayments speeds for use in the DCF models with higher prepayment speeds resulting in lower required ACL levels and vice versa for shorter prepayment speeds. These assumed prepayment speeds are based upon our historical prepayment speeds by loan type adjusted for the expected impact of the current interest rate environment. Generally, the impact of these assumed prepayment speeds is lesser in magnitude than the aforementioned loss driver assumptions.

For all DCF models at September 30, 2022, the Company has determined that four quarters represents a reasonable and supportable forecast period and reverts back to a historical loss rate over eight quarters on a straight-line basis. The Company leverages economic projections from a reputable and independent third party to inform its loss driver forecasts over the four-quarter forecast period. Other internal and external indicators of economic forecasts are also considered by the Company when developing the forecast metrics. At September 30, 2022 as compared to December 31, 2021, the Company forecasted increasing national unemployment, a steeper decrease in one-year percentage change in national retail sales, a steeper decrease in one-year percentage change in the national home price index, and a steeper decrease in one-year percentage change in national gross domestic product. At September 30, 2022 for national unemployment, the Company projected a low percentage in the first quarter followed by a gradual rise in the following three quarters. For percentage change in national retail sales, the Company projected a sustained level in the first projected quarter followed by a decline to near-zero or negative levels over the last three projected quarters to a level below recent actual periods. For percentage changes in national home price index and national gross domestic product, the Company projected declines over the last three projected quarters to negative levels below recent actual periods. At September 30, 2022, the Company slowed its historical prepayment speeds in response to the rising interest rate environment in the macro economy.

The Company uses a loss-rate method to estimate expected credit losses for the farmland, liquid credit, factored receivable, and mortgage warehouse loan pools. For each of these loan segments, the Company applies an expected loss ratio based on internal and peer historical losses adjusted as appropriate for qualitative factors. Qualitative loss factors are based on the Company's judgment of company, market, industry or business specific data, changes in underlying loan composition of specific portfolios, trends relating to credit quality, delinquency, non-performing and adversely rated loans, and reasonable and supportable forecasts of economic conditions. Loss factors used to calculate the required ACL on pools that use the loss-rate method reflect the forecasted economic conditions described above.

For the three months ended September 30, 2022, changes in projected loss drivers and prepayment assumptions over the reasonable and supportable forecast period did not have a significant impact on the ACL. Changes in net new required specific reserves increased the required ACL at September 30, 2022. Changes in loan volume and mix during the three months ended September 30, 2022 decreased the ACL during the period. Net charge-offs during the period were $2,465,000.

For the three months ended September 30, 2021, changes in projected loss drivers and prepayment assumptions over the reasonable and supportable forecast period decreased the required ACL by $177,000. Further, the Company experienced a net reserve release of specific reserves. Changes in loan volume and mix during the three months ended September 30, 2021 did not have a significant impact on the ACL during the period. Non-PCD-related net charge-offs reduced the ACL by $3,718,000 during the three months ended September 30, 2021.

For the nine months ended September 30, 2022, changes in projected loss drivers and prepayment assumptions over the reasonable and supportable forecast period increased the required ACL by $1,487,000. Changes in net new required specific reserves also increased the required ACL at September 30, 2022. Changes in loan volume and mix during the nine months ended September 30, 2022 decreased the ACL during the period. Net charge-offs during the period were $4,204,000.

For the nine months ended September 30, 2021, in addition to the impact of changes to the ACL on acquired PCD Over-Formula Advances previously discussed, changes in projected loss drivers and prepayment assumptions over the reasonable and supportable forecast period decreased the required ACL by $10,319,000. Further, the Company experienced a net reserve release of specific reserves on non-PCD loans. Changes in loan volume and mix during the nine months ended September 30, 2021 also decreased the ACL during the period. Non-PCD-related charge-offs reduced the ACL by $4,067,000 during the nine months ended September 30, 2021.

The following table presents the amortized cost basis of collateral dependent loans, which are individually evaluated to determine expected credit losses, and the related ACL allocated to these loans:


(Dollars in thousands)	Real Estate		Accounts Receivable		Equipment		Other		Total		ACL Allocation
September 30, 2022
Commercial real estate	$	1,240	$	—	$	—	$	142	$	1,382	$	283
Construction, land development, land	151		—		—		—		151		—
1-4 family residential	1,663		—		—		47		1,710		80
Farmland	196		—		112		106		414		—
Commercial	208		—		3,256		14,403		17,867		4,330
Factored receivables	—		47,628		—		—		47,628		13,024
Consumer	—		—		—		154		154		13
Mortgage warehouse	—		—		—		—		—		—
Total	$	3,458	$	47,628	$	3,368	$	14,852	$	69,306	$	17,730

At September 30, 2022 the balance of the Over-Formula Advance Portfolio included in factored receivables was $8,785,000 and was fully reserved. At September 30, 2022 the balance of Misdirected Payments included in factored receivables was $19,361,000 and carried no ACL allocation.


(Dollars in thousands)	Real Estate		Accounts Receivable		Equipment		Other		Total		ACL Allocation
December 31, 2021
Commercial real estate	$	2,143	$	—	$	—	$	155	$	2,298	$	283
Construction, land development, land	987		—		—		—		987		—
1-4 family residential	1,583		—		—		116		1,699		39
Farmland	1,803		—		126		116		2,045		—
Commercial	254		—		5,598		3,017		8,869		1,733
Factored receivables	—		42,863		—		—		42,863		12,640
Consumer	—		—		—		240		240		21
Mortgage warehouse	—		—		—		—		—		—
Total	$	6,770	$	42,863	$	5,724	$	3,644	$	59,001	$	14,716

At December 31, 2021 the balance of the Over-Formula Advance Portfolio included in factored receivables was $10,077,000 and carried an ACL allocation of $10,077,000. At December 31, 2021 the balance of Misdirected Payments included in factored receivables was $19,361,000 and carried no ACL allocation.

Past Due and Nonaccrual Loans

The following tables present an aging of contractually past due loans:


(Dollars in thousands)	Past Due 30-59 Days		Past Due 60-90 Days		Past Due 90 Days or More		Total Past Due		Current		Total		Past Due 90 Days or More and Accruing
September 30, 2022
Commercial real estate	$	1,465	$	—	$	421	$	1,886	$	667,856	$	669,742	$	—
Construction, land development, land	9		—		145		154		75,373		75,527		—
1-4 family residential	984		461		819		2,264		120,330		122,594		—
Farmland	—		—		—		—		66,595		66,595		—
Commercial	288		178		3,097		3,563		1,278,636		1,282,199		48
Factored receivables	42,637		13,455		38,969		95,061		1,354,019		1,449,080		38,969
Consumer	144		28		62		234		9,272		9,506		—
Mortgage warehouse	—		—		—		—		758,061		758,061		—
Total	$	45,527	$	14,122	$	43,513	$	103,162	$	4,330,142	$	4,433,304	$	39,017


(Dollars in thousands)	Past Due 30-59 Days		Past Due 60-90 Days		Past Due 90 Days or More		Total Past Due		Current		Total		Past Due 90 Days or More and Accruing
December 31, 2021
Commercial real estate	$	1,021	$	—	$	16	$	1,037	$	631,738	$	632,775	$	—
Construction, land development, land	30		—		145		175		123,289		123,464		—
1-4 family residential	730		332		1,114		2,176		120,939		123,115		134
Farmland	378		154		977		1,509		75,885		77,394		—
Commercial	996		346		4,948		6,290		1,424,139		1,430,429		—
Factored receivables	70,109		18,302		39,134		127,545		1,571,992		1,699,537		39,134
Consumer	255		48		99		402		10,483		10,885		—
Mortgage warehouse	—		—		—		—		769,973		769,973		—
Total	$	73,519	$	19,182	$	46,433	$	139,134	$	4,728,438	$	4,867,572	$	39,268

At September 30, 2022 and December 31, 2021, total past due Over-Formula Advances recorded in factored receivables was $8,785,000 and $10,077,000, respectively, all of which was considered past due 90 days or more. Aging of the Over-Formula Advances is based upon the service month on which the advances were made by TFS prior to acquisition. At September 30, 2022 and December 31, 2021, the Misdirected Payments totaled $19,361,000, all of which was considered past due 90 days or more. Given the nature of factored receivables, these assets are disclosed as past due 90 days or more still accruing; however, the Company is not recognizing income on the assets. Historically, any income recognized on factored receivables that are past due 90 days or more has not been material.

The following table presents the amortized cost basis of loans on nonaccrual status and the amortized cost basis of loans on nonaccrual status for which there was no related allowance for credit losses:


	September 30, 2022				December 31, 2021
(Dollars in thousands)	Total Nonaccrual		Nonaccrual With No ACL		Total Nonaccrual		Nonaccrual With No ACL
Commercial real estate	$	1,108	$	541	$	2,025	$	1,375
Construction, land development, land	151		151		964		964
1-4 family residential	1,710		1,604		1,683		1,582
Farmland	414		414		2,044		2,044
Commercial	17,291		3,015		8,078		3,910
Factored receivables	—		—		—		—
Consumer	154		112		240		159
Mortgage warehouse	—		—		—		—
	$	20,828	$	5,837	$	15,034	$	10,034

The following table presents accrued interest on nonaccrual loans reversed through interest income:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Commercial real estate	$	—	$	—	$	—	$	8
Construction, land development, land	—		—		2		—
1-4 family residential	1		—		1		1
Farmland	—		—		—		6
Commercial	—		—		4		23
Factored receivables	—		—		—		—
Consumer	—		3		—		3
Mortgage warehouse	—		—		—		—
	$	1	$	3	$	7	$	41

There was no interest earned on nonaccrual loans during the three and nine months ended September 30, 2022 and 2021.

The following table presents information regarding nonperforming loans:


(Dollars in thousands)	September 30, 2022		December 31, 2021
Nonaccrual loans(1)	$	20,828	$	15,034
Factored receivables greater than 90 days past due	30,184		29,057
Other nonperforming factored receivables(2)	4,331		1,428
Troubled debt restructurings accruing interest	577		765
	$	55,920	$	46,284

(1)Includes troubled debt restructurings of $2,034,000 and $3,912,000 at September 30, 2022 and December 31, 2021, respectively.

(2)Other nonperforming factored receivables represent the portion of the Over-Formula Advance Portfolio that is not covered by Covenant's indemnification as well as other nonperforming factored receivables less than 90 days past due. This amount is also considered Classified from a risk rating perspective.

Credit Quality Information

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, including: current collateral and financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk on a regular basis. Large groups of smaller balance homogeneous loans, such as consumer loans, are analyzed primarily based on payment status. The Company uses the following definitions for risk ratings:

Pass – Pass rated loans have low to average risk and are not otherwise classified.

Classified – Classified loans are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the repayment of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Certain classified loans have the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable.

Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal of loan constitutes a current period origination. Generally, current period renewals of credit are re-underwritten at the point of renewal and considered current period originations for purposes of the table below. As of September 30, 2022 and December 31, 2021, based on the most recent analysis performed, the risk category of loans is as follows:


													Revolving Loans		Revolving Loans Converted To Term Loans		Total
(Dollars in thousands)	Year of Origination
September 30, 2022	2022		2021		2020		2019		2018		Prior
Commercial real estate
Pass	$	209,979	$	162,141	$	201,656	$	27,482	$	18,640	$	38,969	$	4,442	$	—	$	663,309
Classified	2,634		779		1,883		39		—		1,098		—		—		6,433
Total commercial real estate	$	212,613	$	162,920	$	203,539	$	27,521	$	18,640	$	40,067	$	4,442	$	—	$	669,742

Construction, land development, land
Pass	$	46,466	$	16,185	$	7,115	$	4,368	$	654	$	578	$	10	$	—	$	75,376
Classified	—		—		6		—		—		145		—		—		151
Total construction, land development, land	$	46,466	$	16,185	$	7,121	$	4,368	$	654	$	723	$	10	$	—	$	75,527

1-4 family residential
Pass	$	19,058	$	23,089	$	11,450	$	3,046	$	3,787	$	22,067	$	38,002	$	308	$	120,807
Classified	29		420		156		52		3		1,059		68		—		1,787
Total 1-4 family residential	$	19,087	$	23,509	$	11,606	$	3,098	$	3,790	$	23,126	$	38,070	$	308	$	122,594

Farmland
Pass	$	10,092	$	12,736	$	10,381	$	2,738	$	6,790	$	21,707	$	1,370	$	218	$	66,032
Classified	199		11		131		112		—		110		—		—		563
Total farmland	$	10,291	$	12,747	$	10,512	$	2,850	$	6,790	$	21,817	$	1,370	$	218	$	66,595

Commercial
Pass	$	300,479	$	220,970	$	181,171	$	45,579	$	7,594	$	13,283	$	473,205	$	269	$	1,242,550
Classified	14,656		10,681		3,701		2,148		110		115		8,238		—		39,649
Total commercial	$	315,135	$	231,651	$	184,872	$	47,727	$	7,704	$	13,398	$	481,443	$	269	$	1,282,199

Factored receivables
Pass	$	1,411,243	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	1,411,243
Classified	17,693		—		20,144		—		—		—		—		—		37,837
Total factored receivables	$	1,428,936	$	—	$	20,144	$	—	$	—	$	—	$	—	$	—	$	1,449,080

Consumer
Pass	$	3,112	$	1,590	$	1,033	$	361	$	355	$	2,760	$	141	$	—	$	9,352
Classified	—		2		2		—		—		150		—		—		154
Total consumer	$	3,112	$	1,592	$	1,035	$	361	$	355	$	2,910	$	141	$	—	$	9,506

Mortgage warehouse
Pass	$	758,061	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	758,061
Classified	—		—		—		—		—		—		—		—		—
Total mortgage warehouse	$	758,061	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	758,061

Total loans
Pass	$	2,758,490	$	436,711	$	412,806	$	83,574	$	37,820	$	99,364	$	517,170	$	795	$	4,346,730
Classified	35,211		11,893		26,023		2,351		113		2,677		8,306		—		86,574
Total loans	$	2,793,701	$	448,604	$	438,829	$	85,925	$	37,933	$	102,041	$	525,476	$	795	$	4,433,304


													Revolving Loans		Revolving Loans Converted To Term Loans		Total
(Dollars in thousands)	Year of Origination
December 31, 2021	2021		2020		2019		2018		2017		Prior
Commercial real estate
Pass	$	211,088	$	249,652	$	50,223	$	25,930	$	47,447	$	37,290	$	4,595	$	—	$	626,225
Classified	2,879		3,358		41		—		16		—		256		—		6,550
Total commercial real estate	$	213,967	$	253,010	$	50,264	$	25,930	$	47,463	$	37,290	$	4,851	$	—	$	632,775

Construction, land development, land
Pass	$	56,764	$	33,756	$	4,744	$	23,696	$	1,199	$	994	$	8	$	—	$	121,161
Classified	2,150		8		—		—		—		145		—		—		2,303
Total construction, land development, land	$	58,914	$	33,764	$	4,744	$	23,696	$	1,199	$	1,139	$	8	$	—	$	123,464

1-4 family residential
Pass	$	26,840	$	15,195	$	9,485	$	6,526	$	8,591	$	22,151	$	32,210	$	318	$	121,316
Classified	273		233		53		6		64		1,089		81		—		1,799
Total 1-4 family residential	$	27,113	$	15,428	$	9,538	$	6,532	$	8,655	$	23,240	$	32,291	$	318	$	123,115

Farmland
Pass	$	14,387	$	13,396	$	7,892	$	8,040	$	10,040	$	19,792	$	1,317	$	241	$	75,105
Classified	199		612		593		333		128		298		126		—		2,289
Total farmland	$	14,586	$	14,008	$	8,485	$	8,373	$	10,168	$	20,090	$	1,443	$	241	$	77,394

Commercial
Pass	$	466,254	$	332,746	$	77,010	$	18,940	$	15,032	$	7,704	$	490,159	$	49	$	1,407,894
Classified	9,317		6,858		5,088		558		56		456		202		—		22,535
Total commercial	$	475,571	$	339,604	$	82,098	$	19,498	$	15,088	$	8,160	$	490,361	$	49	$	1,430,429

Factored receivables
Pass	$	1,667,922	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	1,667,922
Classified	10,826		20,789		—		—		—		—		—		—		31,615
Total factored receivables	$	1,678,748	$	20,789	$	—	$	—	$	—	$	—	$	—	$	—	$	1,699,537

Consumer
Pass	$	3,252	$	1,794	$	669	$	553	$	2,424	$	1,882	$	70	$	—	$	10,644
Classified	5		—		—		12		119		105		—		—		241
Total consumer	$	3,257	$	1,794	$	669	$	565	$	2,543	$	1,987	$	70	$	—	$	10,885

Mortgage warehouse
Pass	$	769,973	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	769,973
Classified	—		—		—		—		—		—		—		—		—
Total mortgage warehouse	$	769,973	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	769,973

Total loans
Pass	$	3,216,480	$	646,539	$	150,023	$	83,685	$	84,733	$	89,813	$	528,359	$	608	$	4,800,240
Classified	25,649		31,858		5,775		909		383		2,093		665		—		67,332
Total loans	$	3,242,129	$	678,397	$	155,798	$	84,594	$	85,116	$	91,906	$	529,024	$	608	$	4,867,572

Troubled Debt Restructurings and Loan Modifications

The Company had troubled debt restructurings with an amortized cost of $2,611,000 and $4,677,000 as of September 30, 2022 and December 31, 2021, respectively. The Company had allocated $1,104,000 and $1,068,000 of allowance for those loans at September 30, 2022 and December 31, 2021, respectively, and had not committed to lend additional amounts.

The following table presents the pre- and post-modification recorded investment of loans modified as troubled debt restructurings. The Company did not grant principal reductions on any restructured loans.


(Dollars in thousands)	Extended Amortization Period		Payment Deferrals		Protective Advances		Total Modifications		Number of Loans
Three months ended September 30, 2022


Commercial	$	45	$	—	$	—	$	45	1
	$	45	$	—	$	—	$	45	1

Nine months ended September 30, 2022



Commercial	$	45	$	—	$	—	$	45	1
	$	45	$	—	$	—	$	45	1






Nine months ended September 30, 2021
Commercial real estate	$	—			$	741	$	741	1



	$	—	$	—	$	741	$	741	1

There were no loans modified as troubled debt restructurings during the three months ended September 30, 2021.

During the nine months ended September 30, 2022, the Company had two loans modified as troubled debt restructurings with a recorded investment of $546,000 for which there were payment defaults within twelve months following the modification. During the nine months ended September 30, 2021, the Company had three loans modified as troubled debt restructurings with a recorded investment of $1,681,000 for which there were payment defaults within twelve months following the modification. Default is determined at 90 or more days past due, upon charge-off, or upon foreclosure.

The following table summarizes the balance of loans modified for borrowers impacted by the COVID-19 pandemic.


	Three Months Ended September 30,		Nine Months Ended September 30,
(Dollars in thousands)	2022	2021	2022	2021
Total modifications	—	—	—	10,459

These modifications primarily consisted of payment deferrals to assist customers. As these modifications related to the COVID-19 pandemic and qualify under the provisions of either Section 4013 of the CARES act or Interagency Guidance, they are not considered troubled debt restructurings. There were no loans in deferral at September 30, 2022. The following table summarized the amortized cost of loans with payments in deferral and the accrued interest related to the loans with payments in deferral at December 31, 2021:


(Dollars in thousands)	Total Loans		Balance of Loans Currently in Deferral		Percentage of Portfolio		Accrued Interest Receivable

December 31, 2021
Commercial real estate	$	632,775	$	30,212	4.8	%	$	116
Construction, land development, land	123,464		1,340		1.1	%	5
1-4 family residential	123,115		—		—	%	—
Farmland	77,394		338		0.4	%	3
Commercial	1,430,429		—		—	%	—
Factored receivables	1,699,537		—		—	%	—
Consumer	10,885		6		0.1	%	—
Mortgage warehouse	769,973		—		—	%	—
Total	$	4,867,572	$	31,896	0.7	%	$	124

Residential Real Estate Loans In Process of Foreclosure

At September 30, 2022 and December 31, 2021, the Company had $129,000 and $301,000, respectively, in 1-4 family residential real estate loans for which formal foreclosure proceedings were in process.

Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

Goodwill and intangible assets consist of the following:


(Dollars in thousands)	September 30, 2022		December 31, 2021
Goodwill	$	233,709	$	233,727


	September 30, 2022						December 31, 2021
(Dollars in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Core deposit intangibles	$	43,578	$	(34,536)	$	9,042	$	43,578	$	(31,800)	$	11,778
Software intangible assets	16,932		(5,644)		11,288		16,932		(2,469)		14,463
Other intangible assets	30,410		(15,845)		14,565		29,560		(12,672)		16,888
	$	90,920	$	(56,025)	$	34,895	$	90,070	$	(46,941)	$	43,129

The changes in goodwill and intangible assets during the three and nine months ended September 30, 2022 and 2021 are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Beginning balance	$	270,666	$	286,567	$	276,856	$	189,922
Acquired goodwill	—		—		—		73,697
Acquired intangible assets	851		—		851		27,292
Acquired goodwill - measurement period adjustment	—		(3,238)		(18)		(3,179)




Amortization of intangibles	(2,913)		(3,274)		(9,085)		(7,677)
Ending balance	$	268,604	$	280,055	$	268,604	$	280,055

Equity Method Investment

9 Months Ended

Sep. 30, 2022

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investment

EQUITY METHOD INVESTMENT

On October 17, 2019, the Company made a minority equity investment of $8,000,000 in Warehouse Solutions Inc. (“WSI”), purchasing 8% of the common stock of WSI and receiving warrants to purchase an additional 10% of the common stock of WSI upon exercise of the warrants at a later date. WSI provides technology solutions to help reduce supply chain costs for a global client base across multiple industries.

Although the Company held less than 20% of the voting stock of WSI, the investment in common stock was initially accounted for using the equity method as the Company’s representation on WSI’s board of directors, which was disproportionately larger in size than the common stock investment held, demonstrated that it had significant influence over the investee.

On June 10, 2022, the Company entered into two separate agreements with WSI. First, the Company entered into an Affiliate Agreement. The Affiliate Agreement canceled the Company’s outstanding warrants and modified the structure of the existing operating agreement to be consistent with TriumphPay operating as an open loop payments network. By modifying the operating agreement, the Company’s Payments segment operations now have greater ability to operate in the freight shipper audit space. As a result of the Affiliate Agreement, the Company recognized a total loss on impairment of the warrants of $3,224,000, which represented the full book balance of the warrants on the date the Affiliate Agreement was executed. The impairment loss was included in other noninterest income on the Company's consolidated statements of income during the three months ended June 30, 2022.

Separately, the Company also entered into an Amended and Restated Investor Rights Agreement (the “Investor Rights Agreement”). The Investor Rights Agreement eliminated the Company’s representation on WSI’s board of directors making the Company a completely passive investor. The Investor Rights Agreement also provided for the Company’s purchase of an additional 10% of WSI’s common stock for $23,000,000 raising the Company’s ownership of WSI’s common stock to 18%. As a passive investor, the Company no longer holds significant influence over the investee and the investment in WSI’s common stock no longer qualifies for equity method accounting. The investment in WSI’s common stock is now accounted for as an equity investment without a readily determinable fair value measured under the measurement alternative. The measurement alternative requires the Company to remeasure its investment in the common stock of WSI only upon the execution of an orderly and observable transaction in an identical or similar instrument.

The Company's additional investment in WSI under the Investor Rights Agreement resulted in the Company discontinuing the equity method of accounting and qualified as an orderly and observable transaction for an identical investment in WSI, therefore the fair value of the Company's original 8% common stock investment was required to be adjusted from $4,925,000 at March 31, 2022 to $15,088,000, resulting in a gain of $10,163,000 that was recorded in other noninterest income on the Company's consolidated statements of income during the three months ended June 30, 2022.

The following table presents the Company’s investment in WSI:


(Dollars in thousands)	September 30, 2022		December 31, 2021
Common stock	$	38,088	$	5,142
Warrants	—		3,224
Total investment	$	38,088	$	8,366

The investment is included in other assets on the Company’s consolidated balance sheets and has been allocated to the Payments segment. All gains and losses related to the investment are included in the Payment segment’s operating results.

Derivative Financial Instruments

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

DERIVATIVE FINANCIAL INSTRUMENTS

The Company is exposed to certain risk arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s interest bearing deposits.

The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Beginning in June 2020, such derivatives were used to hedge the variable cash flows associated with interest bearing deposits.

The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the cash flows of the hedged item, the derivative is settled or terminated, or treatment of the derivative as a hedge is no longer appropriate or intended. During the three months ended March 31, 2022, the Company terminated its single derivative with a notional value totaling $200,000,000, resulting in a termination value of $9,316,000. During the nine months ended September 30, 2022, the Company reclassified $465,000 into earnings through interest expense in the consolidated statements of income. On May 4, 2022, the Company terminated the hedged funding, incurring a termination fee of $732,000, which was recognized through interest expense in the consolidated statements of income, and reclassified the remaining $8,851,000 unrealized gain on the terminated derivative into earnings through other noninterest income in the consolidated statements of income.

The following table presents the pre-tax impact of the terminated cash flow hedge on AOCI:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Unrealized gains on terminated hedges
Beginning Balance	$	—	$	—	$	—	$	—
Unrealized gains arising during the period	—		—		9,316		—
Reclassification adjustments for amortization of unrealized (gains) into net income	—		—		(9,316)		—
Ending Balance	$	—	$	—	$	—	$	—

The Company did not have any derivative financial instruments at September 30, 2022. The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Balance Sheet as of December 31, 2021:

Derivative Assets

As of December 31, 2021

(Dollars in thousands)

Notional
Amount

Balance
Sheet Location

Fair Value
Total

Derivatives designated as hedging instruments:

Interest rate swaps

200,000

Other Assets

6,164

The table below presents the effect of cash flow hedge accounting on Accumulated Other Comprehensive Income, net of tax:


	Amount of Gain or (Loss) Recognized in OCI on Derivative		Amount of Gain or (Loss) Recognized in OCI Included Component		Location of (Gain) or Loss Recognized from AOCI into Income	Amount of (Gain) or Loss Reclassified from AOCI into Income		Amount of (Gain) or Loss Reclassified from AOCI into Income Included Component
(Dollars in thousands)
Three Months Ended September 30, 2022
Derivatives in cash flow hedging relationships:
Interest rate swaps	$	—	$	—	Interest Expense, Noninterest Income	$	—	$	—

Three Months Ended September 30, 2021
Derivatives in cash flow hedging relationships:
Interest rate swaps	$	7	$	7	Interest Expense	$	14	$	14

Nine Months Ended September 30, 2022
Derivatives in cash flow hedging relationships:
Interest rate swaps	$	(4,705)	$	(4,705)	Interest Expense, Noninterest Income	$	(7,103)	$	(7,103)

Nine Months Ended September 30, 2021
Derivatives in cash flow hedging relationships:
Interest rate swaps	$	2,386	$	2,386	Interest Expense	$	53	$	53

Variable Interest Entities

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities

VARIABLE INTEREST ENTITIES

Collateralized Loan Obligation Funds – Closed

The Company holds investments in the subordinated notes of the following closed Collateralized Loan Obligation (“CLO”) funds:


(Dollars in thousands)	Offering Date	Offering Amount
Trinitas CLO IV, LTD (Trinitas IV)	June 2, 2016	$	406,650
Trinitas CLO V, LTD (Trinitas V)	September 22, 2016	$	409,000
Trinitas CLO VI, LTD (Trinitas VI)	June 20, 2017	$	717,100

The net carrying amounts of the Company’s investments in the subordinated notes of the CLO funds, which represent the Company’s maximum exposure to loss as a result of its involvement with the CLO funds, totaled $4,149,000 and $4,947,000 at September 30, 2022 and December 31, 2021, respectively, and are classified as held to maturity securities within the Company’s consolidated balance sheets.

The Company performed a consolidation analysis to confirm whether the Company was required to consolidate the assets, liabilities, equity or operations of the closed CLO funds in its financial statements. The Company concluded that the closed CLO funds were variable interest entities and that the Company holds variable interests in the entities in the form of its investments in the subordinated notes of entities. However, the Company also concluded that the Company does not have the power to direct the activities that most significantly impact the entities’ economic performance. As a result, the Company was not the primary beneficiary and therefore was not required to consolidate the assets, liabilities, equity, or operations of the closed CLO funds in the Company’s financial statements.

Legal Contingencies	9 Months Ended
Legal Contingencies	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Legal Contingencies	LEGAL CONTINGENCIESVarious legal claims have arisen from time to time in the normal course of business which, in the opinion of management as of September 30, 2022, will have no material effect on the Company’s consolidated financial statements.

Off-Balance Sheet Loan Commitments

9 Months Ended

Sep. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Off-Balance Sheet Loan Commitments

OFF-BALANCE SHEET LOAN COMMITMENTS

From time to time, the Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit. Those instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the balance sheet. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments.

The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet financial instruments.

The contractual amounts of financial instruments with off-balance sheet risk were as follows:


	September 30, 2022						December 31, 2021
(Dollars in thousands)	Fixed Rate		Variable Rate		Total		Fixed Rate		Variable Rate		Total
Unused lines of credit	$	3,994	$	442,809	$	446,803	$	26,029	$	523,483	$	549,512
Standby letters of credit	$	13,711	$	4,920	$	18,631	$	11,090	$	5,409	$	16,499
Commitments to purchase loans	$	—	$	79,030	$	79,030	$	—	$	108,423	$	108,423
Mortgage warehouse commitments	$	—	$	851,939	$	851,939	$	—	$	823,060	$	823,060

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being fully drawn upon, the total commitment amounts disclosed above do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if considered necessary by the Company, upon extension of credit, is based on management’s credit evaluation of the customer.

Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. In the event of nonperformance by the customer, the Company has rights to the underlying collateral, which can include commercial real estate, physical plant and property, inventory, receivables, cash and marketable securities. The credit risk to the Company in issuing letters of credit is essentially the same as that involved in extending loan facilities to its customers.

Commitments to purchase loans represent loans purchased by the Company that have not yet settled.

Mortgage warehouse commitments are unconditionally cancellable and represent the unused capacity on mortgage warehouse facilities the Company has approved. The Company reserves the right to refuse to buy any mortgage loans offered for sale by a customer, for any reason, at the Company’s sole and absolute discretion.

The Company records an allowance for credit losses on off-balance sheet credit exposures through a charge to credit loss expense on the Company’s consolidated statements of income. At September 30, 2022 and December 31, 2021, the allowance for credit losses on off-balance sheet credit exposures totaled $3,680,000 and $4,082,000, respectively, and was included in other liabilities on the Company’s consolidated balance sheets. The following table presents credit loss expense for off balance sheet credit exposures:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Credit loss expense (benefit)	$	(598)	$	(238)	$	(402)	$	(1,159)

Fair Value Disclosures

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Disclosures

FAIR VALUE DISCLOSURES

Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values:

Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

Level 2 – Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3 – Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.

The methods of determining the fair value of assets and liabilities presented in this note are consistent with the methodologies disclosed in Note 17 of the Company’s 2021 Form 10-K.

Assets and liabilities measured at fair value on a recurring basis are summarized in the table below.


(Dollars in thousands)	Fair Value Measurements Using						Total Fair Value
September 30, 2022	Level 1		Level 2		Level 3
Assets measured at fair value on a recurring basis
Securities available for sale
Mortgage-backed securities, residential	$	—	$	44,675	$	—	$	44,675
Asset-backed securities	—		6,476		—		6,476
State and municipal	—		14,262		—		14,262
CLO securities	—		169,708		—		169,708
Corporate bonds	—		1,249		—		1,249
SBA pooled securities	—		2,064		—		2,064
	$	—	$	238,434	$	—	$	238,434

Equity securities with readily determinable fair values
Mutual fund	$	4,916	$	—	$	—	$	4,916

Loans held for sale	$	—	$	78	$	—	$	78

Indemnification asset	$	—	$	—	$	4,173	$	4,173

Revenue share asset	$	—	$	—	$	6,178	$	6,178

Liabilities measured at fair value on a recurring basis
Return of premium liability	$	—	$	—	$	570	$	570


(Dollars in thousands)	Fair Value Measurements Using						Total Fair Value
December 31, 2021	Level 1		Level 2		Level 3
Assets measured at fair value on a recurring basis
Securities available for sale
Mortgage-backed securities, residential	$	—	$	37,449	$	—	$	37,449
Asset-backed securities	—		6,764		—		6,764
State and municipal	—		26,825		—		26,825
CLO Securities	—		106,634		—		106,634
Corporate bonds	—		2,056		—		2,056
SBA pooled securities	—		2,698		—		2,698
	$	—	$	182,426	$	—	$	182,426

Equity securities with readily determinable fair values
Mutual fund	$	5,504	$	—	$	—	$	5,504

Loans held for sale	$	—	$	7,330	$	—	$	7,330

Derivative financial instruments (cash flow hedges)
Interest rate swap	$	—	$	6,164	$	—	$	6,164

Indemnification asset	$	—	$	—	$	4,786	$	4,786

There were no transfers between levels during 2022 or 2021.

Indemnification Asset

The fair value of the indemnification asset is calculated as the present value of the estimated cash payments expected to be received from Covenant for probable losses on the covered Over-Formula Advance Portfolio. The cash flows are discounted at a rate to reflect the uncertainty of the timing and receipt of the payments from Covenant. The indemnification asset is reviewed quarterly and changes to the asset are recorded as adjustments to other noninterest income or expense, as appropriate, within the Consolidated Statements of Income. The indemnification asset fair value is considered a Level 3 classification. At September 30, 2022 and December 31, 2021, the estimated cash payments expected to be received from Covenant for probable losses on the covered Over-Formula Advance Portfolio were approximately $4,393,000 and $5,038,000, respectively, and a discount rate of 5.0% and 5.0%, respectively, was applied to calculate the present value of the indemnification asset. A reconciliation of the opening balance to the closing balance of the fair value of the indemnification asset is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Beginning balance	$	4,377	$	5,246	$	4,786	$	36,225
Indemnification asset recognized in business combination	—		—		—		—
Change in fair value of indemnification asset recognized in earnings	(204)		(460)		(613)		4,194
Indemnification reduction	—		—		—		(35,633)
Ending balance	$	4,173	$	4,786	$	4,173	$	4,786

Revenue Share Asset

On June 30, 2022 and September 6, 2022, the Company entered into and closed two separate agreements to sell two separate portfolios of factored receivables. The June 30, 2022 agreement contains revenue share provisions that entitles the Company to an amount equal to fifteen percent of the future gross monthly revenue of the clients associated with the sold factored receivable portfolio. The September 6, 2022 agreement contains revenue share provisions that entitles the Company to an amount ranging from fifteen to twenty percent, depending on the client, of the future gross monthly revenue of the clients associated with the sold factored receivable portfolio. The fair value of the revenue share assets is calculated each reporting period, and changes in the fair value of the revenue share assets are recorded in noninterest income in the consolidated statements of income. The revenue share asset fair value is considered a Level 3 classification.

At September 30, 2022, the estimated cash payments expected to be received from the purchaser for the Company's share of future gross monthly revenue as $8,653,000 and a discount rate of 10.0% was applied to calculate the present value of the revenue share asset. A reconciliation of the opening balance to the closing balance of the fair value of the revenue share asset is as follows:



(Dollars in thousands)	Three Months Ended September 30, 2022		Nine Months Ended September 30, 2022
Beginning balance	$	5,210	$	—
Revenue share asset recognized	1,027		6,237
Change in fair value of revenue share asset recognized in earnings	171		171
Revenue share payments received	(230)		(230)
Ending balance	$	6,178	$	6,178

Return of Premium Liability

On June 23, 2022, the Company made the decision to sell and closed on the sale of a portfolio of equipment loans for cash consideration. The associated agreement contains a provision that in the event that a sold loan is prepaid in full prior to the due date of the final scheduled contractual payment, the Company will return a pro-rata portion of the premium calculated as of the date of such prepayment in full. The fair value of the return of premium liability is calculated each reporting period, and changes in the fair value of the return of premium liability are recorded in noninterest income in the consolidated statements of income. The return of premium liability is considered a Level 3 classification. At September 30, 2022, the fair value of the estimated premium expected to be returned to the purchaser for sold loans prepaid in full was calculated as the difference between the discounted cash flows of each sold loan assuming no prepayments and the discounted cash flows of each sold loan assuming an 11.0% prepayment speed; consistent with management's expected prepayment speed. A reconciliation of the opening balance to the closing balance of the fair value of the return of premium liability is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Beginning balance	$	708	$	—	$	—	$	—
Return of premium liability recognized in business combination	—		—		708		—
Change in fair value of return of premium liability recognized in earnings	(104)		—		(104)		—
Return of premium payments made	(34)		—		(34)		—
Ending balance	$	570	$	—	$	570	$	—

Assets measured at fair value on a non-recurring basis are summarized in the table below. There were no liabilities measured at fair value on a non-recurring basis at September 30, 2022 and December 31, 2021.


(Dollars in thousands)	Fair Value Measurements Using						Total Fair Value
September 30, 2022	Level 1		Level 2		Level 3
Collateral dependent loans
Commercial real estate	$	—	$	—	$	283	$	283
1-4 family residential	—		—		25		25
Commercial	—		—		9,771		9,771
Factored receivables	—		—		34,604		34,604
Consumer	—		—		29		29


	$	—	$	—	$	44,712	$	44,712


(Dollars in thousands)	Fair Value Measurements Using						Total Fair Value
December 31, 2021	Level 1		Level 2		Level 3
Collateral dependent loans
Commercial real estate	$	—	$	—	$	366	$	366
1-4 family residential	—		—		61		61
Commercial	—		—		2,435		2,435
Factored receivables	—		—		30,224		30,224
Consumer	—		—		60		60
Other real estate owned (1)
Commercial real estate	—		—		7		7
Construction, land development, land	—		—		63		63
	$	—	$	—	$	33,216	$	33,216

(1)Represents the fair value of OREO that was adjusted during the year to date period and subsequent to its initial classification as OREO.

Collateral Dependent Loans Specific Allocation of ACL: A loan is considered to be a collateral dependent loan when, based on current information and events, the Company expects repayment of the financial assets to be provided substantially through the operation or sale of the collateral and the Company has determined that the borrower is experiencing financial difficulty as of the measurement date. The ACL is measured by estimating the fair value of the loan based on the present value of expected cash flows, the market price of the loan, or the underlying fair value of the loan’s collateral. For real estate loans, fair value of the loan’s collateral is determined by third party appraisals, which are then adjusted for the estimated selling and closing costs related to liquidation of the collateral. For this asset class, the actual valuation methods (income, sales comparable, or cost) vary based on the status of the project or property. For example, land is generally based on the sales comparable method while construction is based on the income and/or sales comparable methods. The unobservable inputs may vary depending on the individual assets with no one of the three methods being the predominant approach. The Company reviews the third party appraisal for appropriateness and adjusts the value downward to consider selling and closing costs, which typically range from 5% to 8% of the appraised value. For non-real estate loans, fair value of the loan’s collateral may be determined using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business.

OREO: OREO is primarily comprised of real estate acquired in partial or full satisfaction of loans. OREO is recorded at its estimated fair value less estimated selling and closing costs at the date of transfer, with any excess of the related loan balance over the fair value less expected selling costs charged to the ACL. Subsequent changes in fair value are reported as adjustments to the carrying amount and are recorded against earnings. The Company outsources the valuation of OREO with material balances to third party appraisers. For this asset class, the actual valuation methods (income, sales comparable, or cost) vary based on the status of the project or property. For example, land is generally based on the sales comparable method while construction is based on the income and/or sales comparable methods. The unobservable inputs may vary depending on the individual assets with no one of the three methods being the predominant approach. The Company reviews the third party appraisal for appropriateness and adjusts the value downward to consider selling and closing costs, which typically range from 5% to 8% of the appraised value.

The estimated fair values of the Company’s financial instruments not measured at fair value on a recurring or non-recurring basis at September 30, 2022 and December 31, 2021 were as follows:


(Dollars in thousands)	Carrying Amount		Fair Value Measurements Using						Total Fair Value
September 30, 2022			Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	421,729	$	421,729	$	—	$	—	$	421,729
Securities - held to maturity	4,149		—		—		5,603		5,603
Loans not previously presented, gross	4,388,592		228,971		—		4,080,885		4,309,856
FHLB and other restricted stock	6,213		N/A		N/A		N/A		N/A
Accrued interest receivable	18,214		18,214		—		—		18,214

Financial liabilities:
Deposits	4,441,354		—		4,429,225		—		4,429,225
Customer repurchase agreements	13,463		—		13,463		—		13,463
Federal Home Loan Bank advances	30,000		—		30,000		—		30,000
Subordinated notes	107,587		—		106,327		—		106,327
Junior subordinated debentures	41,016		—		42,847		—		42,847
Accrued interest payable	2,538		2,538		—		—		2,538


(Dollars in thousands)	Carrying Amount		Fair Value Measurements Using						Total Fair Value
December 31, 2021			Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	383,178	$	383,178	$	—	$	—	$	383,178
Securities - held to maturity	4,947		—		—		5,447		5,447
Loans not previously presented, gross	4,834,426		142,962		—		4,685,058		4,828,020
FHLB and other restricted stock	10,146		N/A		N/A		N/A		N/A
Accrued interest receivable	15,319		15,319		—		—		15,319

Financial liabilities:
Deposits	4,646,679		—		4,646,552		—		4,646,552
Customer repurchase agreements	2,103		—		2,103		—		2,103
Federal Home Loan Bank advances	180,000		—		180,000		—		180,000
Paycheck Protection Program Liquidity Facility	27,144		—		27,144		—		27,144
Subordinated notes	106,957		—		110,045		—		110,045
Junior subordinated debentures	40,602		—		41,286		—		41,286
Accrued interest payable	1,951		1,951		—		—		1,951

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Regulatory Matters

9 Months Ended

Sep. 30, 2022

Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]

Regulatory Matters

REGULATORY MATTERS

The Company (on a consolidated basis) and TBK Bank are subject to various regulatory capital requirements administered by federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s or TBK Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and TBK Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors.

Quantitative measures established by regulation to ensure capital adequacy require the Company and TBK Bank to maintain minimum amounts and ratios (set forth in the table below) of total, common equity Tier 1, and Tier 1 capital to risk weighted assets, and of Tier 1 capital to average assets. Management believes, as of September 30, 2022 and December 31, 2021, the Company and TBK Bank meet all capital adequacy requirements to which they are subject.

As of September 30, 2022 and December 31, 2021, TBK Bank’s capital ratios exceeded those levels necessary to be categorized as “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as “well capitalized,” TBK Bank must maintain minimum total risk based, common equity Tier 1 risk based, Tier 1 risk based, and Tier 1 leverage ratios as set forth in the table below. There are no conditions or events since September 30, 2022 that management believes have changed TBK Bank’s category.

The actual capital amounts and ratios for the Company and TBK Bank are presented in the following table.


(Dollars in thousands)	Actual			Minimum for Capital Adequacy Purposes			To Be Well Capitalized Under Prompt Corrective Action Provisions
September 30, 2022	Amount		Ratio	Amount		Ratio	Amount		Ratio
Total capital (to risk weighted assets)
Triumph Bancorp, Inc.	$	831,228	16.6%	$	400,592	8.0%	N/A		N/A
TBK Bank, SSB	$	781,506	15.7%	$	398,220	8.0%	$	497,775	10.0%

Tier 1 capital (to risk weighted assets)
Triumph Bancorp, Inc.	$	685,113	13.6%	$	302,256	6.0%	N/A		N/A
TBK Bank, SSB	$	744,948	15.0%	$	297,979	6.0%	$	397,306	8.0%

Common equity Tier 1 capital (to risk weighted assets)
Triumph Bancorp, Inc.	$	599,097	11.9%	$	226,549	4.5%	N/A		N/A
TBK Bank, SSB	$	744,948	15.0%	$	223,484	4.5%	$	322,811	6.5%

Tier 1 capital (to average assets)
Triumph Bancorp, Inc.	$	685,113	12.6%	$	217,496	4.0%	N/A		N/A
TBK Bank, SSB	$	744,948	13.7%	$	217,503	4.0%	$	271,879	5.0%

As of December 31, 2021
Total capital (to risk weighted assets)
Triumph Bancorp, Inc.	$	769,475	14.1%	$	436,582	8.0%	N/A		N/A
TBK Bank, SSB	$	698,286	12.9%	$	433,046	8.0%	$	541,307	10.0%

Tier 1 capital (to risk weighted assets)
Triumph Bancorp, Inc.	$	628,094	11.5%	$	327,701	6.0%	N/A		N/A
TBK Bank, SSB	$	665,336	12.3%	$	324,554	6.0%	$	432,739	8.0%

Common equity Tier 1 capital (to risk weighted assets)
Triumph Bancorp, Inc.	$	542,492	9.9%	$	246,587	4.5%	N/A		N/A
TBK Bank, SSB	$	665,336	12.3%	$	243,416	4.5%	$	351,600	6.5%

Tier 1 capital (to average assets)
Triumph Bancorp, Inc.	$	628,094	11.1%	$	226,340	4.0%	N/A		N/A
TBK Bank, SSB	$	665,336	11.8%	$	225,538	4.0%	$	281,922	5.0%

As permitted by the interim final rule issued on March 27, 2020 by the federal banking regulatory agencies, the Company elected the option to delay the estimated impact on regulatory capital of ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, which was effective January 1, 2020. The initial impact of adoption of ASU 2016-13 as well as 25% of the quarterly increases in the allowance for credit losses subsequent to adoption of ASU 2016-13 (collectively the “transition adjustments”) was delayed for two years. After two years, the cumulative amount of the transition adjustments became fixed and will be phased out of the regulatory capital calculations evenly over a three year period, with 75% recognized in year three, 50% recognized in year four, and 25% recognized in year five. After five years, the temporary regulatory capital benefits will be fully reversed.

Dividends paid by TBK Bank are limited to, without prior regulatory approval, current year earnings and earnings less dividends paid during the preceding two years.

The capital conservation buffer set forth by the Basel III regulatory capital framework was 2.5% at September 30, 2022 and December 31, 2021. The capital conservation buffer is designed to absorb losses during periods of economic stress and requires increased capital levels for the purpose of capital distributions and other payments. Failure to meet the full amount of the buffer will result in restrictions on the Company’s ability to make capital distributions, including dividend payments and stock repurchases, and to pay discretionary bonuses to executive officers. At September 30, 2022 and December 31, 2021, the Company’s and TBK Bank’s risk based capital exceeded the required capital conservation buffer.

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

Stockholders' Equity

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS' EQUITY

The following summarizes the capital structure of Triumph Bancorp, Inc.

Preferred Stock Series C


(Dollars in thousands, except per share amounts)	September 30, 2022			December 31, 2021
Shares authorized	51,750			51,750
Shares issued	45,000			45,000
Shares outstanding	45,000			45,000
Par value per share	$	0.01		$	0.01
Liquidation preference per share	$	1,000		$	1,000
Liquidation preference amount	$	45,000		$	45,000
Dividend rate	7.125		%	7.125		%
Dividend payment dates	Quarterly			Quarterly

Common Stock


	September 30, 2022		December 31, 2021
Shares authorized	50,000,000		50,000,000
Shares issued	28,321,716		28,261,680
Treasury shares	(3,843,428)		(3,102,801)
Shares outstanding	24,478,288		25,158,879
Par value per share	$	0.01	$	0.01

Stock Repurchase Programs

On February 7, 2022, the Company announced that its board of directors had authorized the Company to repurchase up to $50,000,000 of its outstanding common stock. This program was completed during the three months ended June 30, 2022, and on May 23, 2022, the Company announced that its board of directors had authorized the Company to repurchase up to an additional $75,000,000 of its outstanding common stock in open market transactions or through privately negotiated transactions at the Company’s discretion. The amount, timing and nature of any share repurchases will be based on a variety of factors, including the trading price of the Company’s common stock, applicable securities laws restrictions, regulatory limitations and market and economic factors. The repurchase program is authorized for a period of up to one year and does not require the Company to repurchase any specific number of shares. The repurchase program may be modified, suspended or discontinued at any time, at the Company’s discretion.

The following repurchases were made under the February 7, 2022 program. No shares have been purchased under the May 23, 2022 program.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Shares repurchased into treasury stock	—		—		709,795		—
Average price of shares repurchased into treasury stock	$	—	$	—	$	70.41	$	—
Total cost of shares repurchased into treasury stock	$	—	$	—	$	50,000,000	$	—

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 505
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 13
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

+ Details

Stock Based Compensation

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Stock Based Compensation

STOCK BASED COMPENSATION

Stock based compensation expense that has been charged against income was $4,296,000 and $4,445,000 for the three months ended September 30, 2022 and 2021, respectively, and $17,128,000 and $9,181,000 for the nine months ended September 30, 2022 and 2021, respectively.

2014 Omnibus Incentive Plan

The Company’s 2014 Omnibus Incentive Plan (“Omnibus Incentive Plan”) provides for the grant of nonqualified and incentive stock options, stock appreciation rights, restricted stock awards, restricted stock units, and other awards that may be settled in, or based upon the value of, the Company’s common stock. The maximum number of shares of common stock available for issuance under the Omnibus Incentive Plan is 2,450,000 shares.

Restricted Stock Awards

A summary of changes in the Company’s nonvested Restricted Stock Awards (“RSAs”) under the Omnibus Incentive Plan for the nine months ended September 30, 2022 were as follows:


Nonvested RSAs	Shares	Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2022	363,404	67.56
Granted	12,471	74.42
Vested	(126,203)	61.74
Forfeited	(3,098)	45.60
Nonvested at September 30, 2022	246,574	71.17

RSAs granted to employees under the Omnibus Incentive Plan typically vest immediately or over four years. Compensation expense for the RSAs will be recognized over the vesting period of the awards based on the fair value of the stock at the issue date. As of September 30, 2022, there was $7,552,000 of unrecognized compensation cost related to the nonvested RSAs. The cost is expected to be recognized over a remaining period of 2.52 years.

Restricted Stock Units

A summary of changes in the Company’s nonvested Restricted Stock Units (“RSUs”) under the Omnibus Incentive Plan for the nine months ended September 30, 2022 were as follows:


Nonvested RSUs	Shares	Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2022	122,470	52.07
Granted	91,849	69.44
Vested	—	—
Forfeited	(967)	52.46
Nonvested at September 30, 2022	213,352	59.55

RSUs granted to employees under the Omnibus Incentive Plan typically vest over four to five years. Compensation expense for the RSUs will be recognized over the vesting period of the awards based on the fair value of the stock at the issue date. As of September 30, 2022, there was $7,688,000 of unrecognized compensation cost related to the nonvested RSUs. The cost is expected to be recognized over a remaining period of 3.19 years.

Market Based Performance Stock Units

A summary of changes in the Company’s nonvested Market Based Performance Stock Units (“Market Based PSUs”) under the Omnibus Incentive Plan for the nine months ended September 30, 2022 were as follows:


Nonvested Market Based PSUs	Shares	Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2022	94,984	$	43.68
Granted	33,276	84.22
Incremental shares earned	8,997	N/A
Vested	(20,996)	33.91
Forfeited	(535)	38.57
Nonvested at September 30, 2022	115,726	$	56.38

Market Based PSUs granted to employees under the Omnibus Incentive Plan vest after three to five years. The number of shares issued upon vesting will range from 0% to 175% of the Market Based PSUs granted based on the Company’s relative total shareholder return (“TSR”) as compared to the TSR of a specified group of peer banks. Compensation expense for the Market Based PSUs will be recognized over the vesting period of the awards based on the fair value of the award at the grant date. The fair value of Market Based PSUs granted is estimated using a Monte Carlo simulation. Expected volatilities were determined based on the historical volatilities of the Company and the specified peer group. The risk-free interest rate for the performance period was derived from the Treasury constant maturities yield curve on the valuation dates.

The fair value of the Market Based PSUs granted was determined using the following weighted-average assumptions:


	Nine Months Ended September 30,
	2022			2021
Grant date	May 1, 2022			May 1, 2021
Performance period	3.00 years			3.00 years
Stock price	$	69.44		$	88.63
Triumph stock price volatility	55.17		%	51.71		%
Risk-free rate	2.84		%	0.35		%

As of September 30, 2022, there was $3,343,000 of unrecognized compensation cost related to the nonvested Market Based PSUs. The cost is expected to be recognized over a remaining period of 2.21 years.

Performance Based Performance Stock Units

A summary of changes in the Company’s nonvested Performance Based Performance Stock Units (“Performance Based PSUs”) under the Omnibus Incentive Plan for the nine months ended September 30, 2022 were as follows:


Nonvested Performance Based PSUs	Shares	Weighted Average Grant Date Fair Value
Nonvested at January 1, 2022	259,383	$	39.32
Granted	3,000	69.44
Vested	—	—
Forfeited	(6,349)	43.26
Nonvested at September 30, 2022	256,034	$	39.57

Performance Based PSUs granted to employees under the Omnibus Incentive Plan vest after a three year performance period. The number of shares issued upon vesting will range from 0% to 200% of the shares granted based on the Company’s cumulative diluted earnings per share over the performance period. Compensation expense for the Performance Based PSUs will be estimated each period based on the fair value of the stock at the grant date and the most probable outcome of the performance condition, adjusted for the passage of time within the vesting period of the awards.

During the three and nine months ended September 30, 2022, the Company recognized $298,000 and $5,433,000, respectively, of stock based compensation expense related to Performance Based PSUs. As of September 30, 2022, the maximum unrecognized compensation cost related to the nonvested Performance Based PSUs was $7,424,000, and the remaining performance period over which the cost could be recognized was 0.25 years. No compensation cost was recorded during the three and nine months ended September 30, 2021.

Stock Options

A summary of the changes in the Company’s stock options under the Omnibus Incentive Plan for the nine months ended September 30, 2022 were as follows:


Stock Options	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (In Years)	Aggregate Intrinsic Value (In Thousands)
Outstanding at January 1, 2022	166,755	$	33.34
Granted	35,939	69.44
Exercised	(3,797)	26.12
Forfeited or expired	—	—
Outstanding at September 30, 2022	198,897	$	40.00	6.41	$	3,976

Fully vested shares and shares expected to vest at September 30, 2022	198,897	$	40.00	6.41	$	3,976

Shares exercisable at September 30, 2022	128,958	$	29.10	5.15	$	3,401

Information related to the stock options for the nine months ended September 30, 2022 and 2021 was as follows:


	Nine Months Ended September 30,
(Dollars in thousands, except per share amounts)	2022		2021
Aggregate intrinsic value of options exercised	$	280	$	2,249
Cash received from option exercises, net	(74)		196
Tax benefit realized from option exercises	59		472
Weighted average fair value per share of options granted	$	32.15	$	35.37

Stock options awarded to employees under the Omnibus Incentive Plan are generally granted with an exercise price equal to the market price of the Company’s common stock at the date of grant, vest over four years, and have ten year contractual terms. The fair value of stock options granted is estimated at the date of grant using the Black-Scholes option-pricing model. Beginning in 2022, expected volatilities are determined based on the Company’s historical volatility. Prior to 2022, expected volatilities were determined based on a blend of the Company’s historical volatility and historical volatilities of a peer group of companies with a similar size, industry, stage of life cycle, and capital structure. The expected term of the options granted is determined based on the SEC simplified method, which calculates the expected term as the mid-point between the weighted average time to vesting and the contractual term. The risk-free interest rate for the expected term of the options is derived from the Treasury constant maturity yield curve on the valuation date.

The fair value of the stock options granted was determined using the following weighted-average assumptions:


	Nine Months Ended September 30,
	2022		2021
Risk-free interest rate	2.77	%	1.16	%
Expected term	6.25 years		6.25 years
Expected stock price volatility	43.33	%	39.26	%
Dividend yield	—		—

As of September 30, 2022, there was $1,059,000 of unrecognized compensation cost related to nonvested stock options granted under the Omnibus Incentive Plan. The cost is expected to be recognized over a remaining period of 3.28 years.

Employee Stock Purchase Plan

On April 1, 2019, the Company’s Board of Directors adopted the Triumph Bancorp, Inc. Employee Stock Purchase Plan (“ESPP”) and reserved 2,500,000 shares of common stock for issuance. The ESPP enables eligible employees to purchase the Company’s common stock at a price per share equal to 85% of the lower of the fair market value of the common stock at the beginning or end of each six month offering period. The first offering period commenced on February 1, 2021. During the nine months ended September 30, 2022, 24,516 shares were issued under the plan. No shares were issued during the nine months ended September 30, 2021.

Earnings Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

The factors used in the earnings per share computation follow:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Basic
Net income to common stockholders	$	15,428	$	23,627	$	82,346	$	83,929
Weighted average common shares outstanding	24,227,020		24,759,419		24,483,054		24,719,861
Basic earnings per common share	$	0.64	$	0.95	$	3.36	$	3.40
Diluted
Net income to common stockholders	$	15,428	$	23,627	$	82,346	$	83,929
Weighted average common shares outstanding	24,227,020		24,759,419		24,483,054		24,719,861
Dilutive effects of:
Assumed exercises of stock options	85,239		121,110		95,252		129,149
Restricted stock awards	122,723		141,204		162,883		146,172
Restricted stock units	97,512		74,268		96,174		71,620
Performance stock units - market based	117,358		131,346		124,249		131,275
Performance stock units - performance based	327,016		—		109,005		—
Employee stock purchase program	2,389		616		2,245		1,914
Average shares and dilutive potential common shares	24,979,257		25,227,963		25,072,862		25,199,991
Diluted earnings per common share	$	0.62	$	0.94	$	3.28	$	3.33

Shares that were not considered in computing diluted earnings per common share because they were antidilutive are as follows:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2022	2021	2022	2021
Stock options	52,878	16,939	52,878	16,939
Restricted stock awards	6,348	—	6,348	195,640
Restricted stock units	15,000	—	15,000	17,757
Performance stock units - market based	45,296	12,020	45,296	12,020
Performance stock units - performance based	—	259,383	—	259,383
Employee stock purchase program	—	—	—	—

Revenue From Contracts With Customers	9 Months Ended
Revenue From Contracts With Customers	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue From Contracts With Customers	REVENUE FROM CONTRACTS WITH CUSTOMERS The Company records revenue from contracts with customers in accordance with Accounting Standards Codification Topic 606, “Revenue from Contracts with Customers” (“Topic 606”). Under Topic 606, the Company must identify the contract with a customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue when (or as) the Company satisfies a performance obligation. The Company generally fully satisfies its performance obligations on its contracts with customers as services are rendered and the transaction prices are typically fixed; charged either on a periodic basis or based on activity. The Company presents disaggregated revenue from contracts with customers in the consolidated statements of income. Descriptions of the Company's significant revenue-generating activities within the scope of Topic 606, which are included in non-interest income in the Company's consolidated statements of income, are as follows: •Service charges on deposits. Service charges on deposits primarily consists of fees from the Company's deposit customers for account maintenance, account analysis, and overdraft services. Account maintenance fees and analysis fees are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. •Card income. Card income primarily consists of interchange fees. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized when the transaction processing services are provided to the cardholder. •Net OREO gains (losses) and valuation adjustments. The Company records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of OREO to the buyer, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. •Fee income. Fee income for the Banking and Factoring segments primarily consists of transaction-based fees, including wire transfer fees, ACH and check fees, early termination fees, and other fees, earned from the Company's banking and factoring customers. Transaction based fees are recognized at the time the transaction is executed as that is the point in time the Company satisfies its performance obligations. Fee income for the Payments segment primarily consists of TriumphPay payment and audit fees. These fees totaled $3,545,000 and $3,095,000 for the three months ended September 30, 2022 and 2021, respectively, and $10,156,000 and $4,251,000 for the nine months ended September 30, 2022 and 2021, respectively. These fees are transaction based and are recognized at the time the transaction is executed as that is the point in time that the Company satisfies its performance obligations. •Insurance commissions. Insurance commissions are earned for brokering insurance policies. The Company's primary performance obligations for insurance commissions are satisfied and revenue is recognized when the brokered insurance policies are executed.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Business Segment Information

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Business Segment Information

BUSINESS SEGMENT INFORMATION

The following table presents the Company’s operating segments. The accounting policies of the reportable segments substantially the same as those described in the "Summary of Significant Accounting Policies" in Note 1 of the Company's 2021 Form 10-K. Transactions between segments consist primarily of borrowed funds. Intersegment interest expense is allocated to the Factoring and Payments segments based on Federal Home Loan Bank advance rates. Credit loss expense is allocated based on the segment’s allowance for credit losses determination. Noninterest income and expense directly attributable to a segment are assigned to it. The majority of salaries and benefits expense for the Company's executive leadership team as well as certain other selling, general, and administrative shared services costs are allocated to the Banking segment. Taxes are paid on a consolidated basis and are not allocated for segment purposes. The Factoring segment includes only factoring originated by TBC.


(Dollars in thousands)
Three months ended September 30, 2022	Banking		Factoring		Payments		Corporate		Consolidated
Total interest income	$	49,864	$	49,561	$	3,756	$	44	$	103,225
Intersegment interest allocations	2,606		(2,458)		(148)		—		—
Total interest expense	2,924		—		—		2,031		4,955
Net interest income (expense)	49,546		47,103		3,608		(1,987)		98,270
Credit loss expense (benefit)	2,388		(52)		235		75		2,646
Net interest income after credit loss expense	47,158		47,155		3,373		(2,062)		95,624
Noninterest income	6,189		2,941		3,518		20		12,668
Noninterest expense	48,648		22,896		14,066		1,079		86,689
Net income (loss) before income tax expense	$	4,699	$	27,200	$	(7,175)	$	(3,121)	$	21,603


(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
Net income (loss) before income tax expense	$	15,141	$	26,168	$	(5,184)	$	(3,925)	$	32,200


(Dollars in thousands)
Nine months ended September 30, 2022	Banking		Factoring		Payments		Corporate		Consolidated
Total interest income	$	138,286	$	161,789	$	12,760	$	132	$	312,967
Intersegment interest allocations	6,651		(6,312)		(339)		—		—
Total interest expense	7,547		—		—		5,643		13,190
Net interest income (expense)	137,390		155,477		12,421		(5,511)		299,777
Credit loss expense (benefit)	2,638		1,961		405		1,044		6,048
Net interest income after credit loss expense	134,752		153,516		12,016		(6,555)		293,729
Noninterest income	34,496		20,333		17,069		51		71,949
Noninterest expense	138,741		66,408		46,062		2,649		253,860
Net income (loss) before income tax expense	$	30,507	$	107,441	$	(16,977)	$	(9,153)	$	111,818


(Dollars in thousands)
Nine months ended September 30, 2021	Banking		Factoring		Payments		Corporate		Consolidated
Total interest income	$	144,087	$	127,699	$	7,939	$	51	$	279,776
Intersegment interest allocations	8,117		(7,700)		(417)		—		—
Total interest expense	8,225		—		—		6,478		14,703
Net interest income (expense)	143,979		119,999		7,522		(6,427)		265,073
Credit loss expense (benefit)	(19,187)		8,091		548		(290)		(10,838)
Net interest income after credit loss expense	163,166		111,908		6,974		(6,137)		275,911
Noninterest income	25,139		10,710		4,242		151		40,242
Noninterest expense	122,497		52,433		26,393		3,180		204,503
Net income (loss) before income tax expense	$	65,808	$	70,185	$	(15,177)	$	(9,166)	$	111,650

Total assets and gross loans below include intersegment loans, which eliminate in consolidation.


(Dollars in thousands)
September 30, 2022	Banking		Factoring		Payments		Corporate		Eliminations		Consolidated
Total assets	$	5,162,380	$	1,406,367	$	354,179	$	1,041,293	$	(2,321,769)	$	5,642,450
Gross loans	$	3,849,962	$	1,330,122	$	118,958	$	—	$	(865,738)	$	4,433,304


(Dollars in thousands)
December 31, 2021	Banking		Factoring		Payments		Corporate		Eliminations		Consolidated
Total assets	$	5,568,826	$	1,679,495	$	293,212	$	1,009,998	$	(2,595,281)	$	5,956,250
Gross loans	$	4,444,136	$	1,546,361	$	153,176	$	700	$	(1,276,801)	$	4,867,572

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

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+ Details

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2022
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations Triumph Bancorp, Inc. (collectively with its subsidiaries, “Triumph”, or the “Company” as applicable) is a financial holding company headquartered in Dallas, Texas offering a diversified line of payments, factoring and banking services. The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries Triumph CRA Holdings, LLC (“TCRA”), TBK Bank, SSB (“TBK Bank”), TBK Bank’s wholly owned subsidiary Advance Business Capital LLC, which currently operates under the d/b/a of Triumph Business Capital (“TBC”), and TBK Bank’s wholly owned subsidiary Triumph Insurance Group, Inc. (“TIG”). TriumphPay operates as a division of TBK Bank, SSB.
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with United States Generally Accepted Accounting Principles (“GAAP”) for interim financial information and in accordance with guidance provided by the Securities and Exchange Commission (“SEC”). Accordingly, the condensed financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal and recurring adjustments considered necessary for a fair presentation. Transactions between the subsidiaries have been eliminated. These condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Operating results for the three and nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022.
Operating Segments	Operating Segments The Company’s reportable segments are comprised of strategic business units primarily based upon industry categories and, to a lesser extent, the core competencies relating to product origination, distribution methods, operations and servicing. Segment determination also considered organizational structure and is consistent with the presentation of financial information to the chief operating decision maker to evaluate segment performance, develop strategy, and allocate resources. The Company's chief operating decision maker is the Chief Executive Officer of Triumph Bancorp, Inc. Management has determined that the Company has four reportable segments consisting of Banking, Factoring, Payments, and Corporate. 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 includes the operations of TBC with revenue derived from factoring services. The Payments segment includes the operations of the TBK Bank's TriumphPay division, which is the payments network for presentment, audit, and payment of over-the-road trucking invoices. 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 freight 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 freight brokers. The Corporate segment includes holding company financing and investment activities and management and administrative expenses to support the overall operations of the Company.
Newly Issued, But Not Yet Effective Accounting Standards	Newly Issued, But Not Yet Effective Accounting Standards In March 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2022-02, "Financial Instruments – Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures" ("ASU 2022-02"). ASU 2022-02 eliminates the accounting guidance for troubled debt restructurings ("TDRs") in ASC 310-40, "Receivables - Troubled Debt Restructurings by Creditors" for entities that have adopted the current expected credit loss ("CECL") model introduced by ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (ASU 2016-13"). ASU 2022-02 also requires that public business entities disclose current-period gross charge-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, "Financial Instruments—Credit Losses—Measured at Amortized Cost". ASU 2022-02 is effective for the Company for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted. The Company is evaluating the effect that ASU 2022-02 will have on its consolidated financial statements and related disclosures.

Acquisitions and Divestitures (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Summary of Carrying Amount of Assets in Disposal Group and Gain on Sale

A summary of the carrying amount of the assets sold and the gain on sale is as follows:


(Dollars in thousands)
Equipment loans	$	191,167
Accrued interest receivable	$	1,587
Assets sold	$	192,754

Cash consideration	$	197,454
Return of premium liability	$	(708)
Total consideration	$	196,746
Transaction costs	$	73
Gain on sale, net of transaction costs	$	3,919

A summary of the carrying amounts of the assets and liabilities sold and the gains on sale are as follows:


(Dollars in thousands)	September 6, 2022		June 30, 2022		Total
Factored receivables	$	20,131	$	67,888	$	88,019
Accrued interest and fee income	17		—		17
Assets held for sale	$	20,148	$	67,888	$	88,036

Customer reserve noninterest bearing deposits	$	1,149	$	9,682	$	10,831
Liabilities held for sale	$	1,149	$	9,682	$	10,831
Net assets sold	$	18,999	$	58,206	$	77,205
Cash consideration	$	19,054	$	66,292	$	85,346
Revenue share asset	1,027		5,210		6,237
Total consideration	$	20,081	$	71,502	$	91,583
Transaction costs	49		82		131
Gain on sale, net of transaction costs	$	1,033	$	13,214	$	14,247

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

A summary of the estimated fair values of assets acquired, liabilities assumed, consideration transferred, and the resulting goodwill is as follows:


(Dollars in thousands)	Initial Values		Measurement Period Adjustments		Adjusted Values
Assets acquired:
Cash	$	170	$	—	$	170
Intangible assets - capitalized software	16,932		—		16,932
Intangible assets - customer relationship	10,360		—		10,360
Other assets	1,546		24		1,570
	29,008		24		29,032
Liabilities assumed:
Deferred income taxes	4,703		(3,248)		1,455
Other liabilities	906		16		922
	5,609		(3,232)		2,377
Fair value of net assets acquired	$	23,399	$	3,256	$	26,655
Consideration:
Cash paid	$	97,096	$	—	$	97,096
Goodwill	$	73,697	$	(3,256)	$	70,441

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-Topic 205
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-Section 50
-Paragraph 3
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-Section 50
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-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 11
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-Topic 205
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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-Section 50
-Paragraph 4A
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760

+ Details

Securities (Tables)

9 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Gross Realized and Unrealized Losses Recognized on Equity Securities

The gross realized and unrealized losses recognized on equity securities with readily determinable fair values in noninterest income in the Company’s consolidated statements of income were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Unrealized gains (losses) on equity securities held at the reporting date	$	(134)	$	(231)	$	(588)	$	(203)
Realized gains (losses) on equity securities sold during the period	—		—		—		—
	$	(134)	$	(231)	$	(588)	$	(203)


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Unrealized gains (losses) on equity securities still held at the reporting date	$	—	$	—	$	10,163	$	—
Realized gains (losses) on equity securities sold during the period	—		—		—		—
	$	—	$	—	$	10,163	$	—

Equity Securities without Readily Determinable Fair Value

The following table summarizes the Company's investments in equity securities without readily determinable fair values:


(Dollars in thousands)	September 30, 2022		December 31, 2021
Equity Securities without readily determinable fair value, at cost	$	38,846	$	14,671
Upward adjustments based on observable price changes, cumulative	10,163		—
Equity Securities without readily determinable fair value, carrying value	$	49,009	$	14,671

Schedule of Amortized Cost of Securities and Their Estimated Fair Values

The following table summarizes the amortized cost, fair value, and allowance for credit losses of debt securities and the corresponding amounts of gross unrealized gains and losses of available for sale securities recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses of held to maturity securities:


(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
September 30, 2022
Available for sale securities:
Mortgage-backed securities, residential	$	49,962	$	—	$	(5,287)	$	—	$	44,675
Asset-backed securities	6,501		—		(25)		—		6,476
State and municipal	14,485		2		(225)		—		14,262
CLO securities	175,386		25		(5,703)		—		169,708
Corporate bonds	1,270		1		(22)		—		1,249
SBA pooled securities	2,146		45		(127)		—		2,064
Total available for sale securities	$	249,750	$	73	$	(11,389)	$	—	$	238,434


(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrecognized Losses		Fair Value
September 30, 2022
Held to maturity securities:
CLO securities	$	6,579	$	455	$	(1,431)	$	5,603
Allowance for credit losses	(2,430)
Total held to maturity securities, net of ACL	$	4,149


(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
December 31, 2021
Available for sale securities:
Mortgage-backed securities, residential	$	36,885	$	720	$	(156)	$	—	$	37,449
Asset-backed securities	6,763		2		(1)		—		6,764
State and municipal	26,309		516		—		—		26,825
CLO Securities	103,579		3,109		(54)		—		106,634
Corporate bonds	1,992		64		—		—		2,056
SBA pooled securities	2,536		162		—		—		2,698
Total available for sale securities	$	178,064	$	4,573	$	(211)	$	—	$	182,426


(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrecognized Losses		Fair Value
December 31, 2021
Held to maturity securities:
CLO securities	$	7,029	$	—	$	(1,582)	$	5,447
Allowance for credit losses	(2,082)
Total held to maturity securities, net of ACL	$	4,947

Schedule of Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity


	Available for Sale Securities				Held to Maturity Securities
(Dollars in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	1,527	$	1,525	$	—	$	—
Due from one year to five years	3,122		3,067		—		—
Due from five years to ten years	53,433		51,539		6,579		5,603
Due after ten years	133,059		129,088		—		—
	191,141		185,219		6,579		5,603
Mortgage-backed securities, residential	49,962		44,675		—		—
Asset-backed securities	6,501		6,476		—		—
SBA pooled securities	2,146		2,064		—		—
	$	249,750	$	238,434	$	6,579	$	5,603

Schedule of Proceeds from Sales of Debt Securities and the Associated Gross Gains and Losses as well as Net Gains and Losses from Calls of Debt Securities

Proceeds from sales of debt securities and the associated gross gains and losses as well as net gains and losses from calls of debt securities are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Proceeds	$	—	$	—	$	40,163	$	—
Gross gains	—		—		2,512		—
Gross losses	—		—		—		—
Net gains and losses from calls of securities	—		4		2		5

Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value


	Less than 12 Months				12 Months or More				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
September 30, 2022
Available for sale securities:
Mortgage-backed securities, residential	$	44,500	$	(5,287)	$	3	$	—	$	44,503	$	(5,287)
Asset-backed securities	1,479		(21)		4,996		(4)		6,475		(25)
State and municipal	12,981		(225)		—		—		12,981		(225)
CLO securities	140,066		(5,119)		9,666		(584)		149,732		(5,703)
Corporate bonds	748		(22)		—		—		748		(22)
SBA pooled securities	1,380		(127)		—		—		1,380		(127)
	$	201,154	$	(10,801)	$	14,665	$	(588)	$	215,819	$	(11,389)


	Less than 12 Months				12 Months or More				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
December 31, 2021
Available for sale securities:
Mortgage-backed securities, residential	$	20,386	$	(155)	$	6	$	(1)	$	20,392	$	(156)
Asset-backed securities	37		—		4,999		(1)		5,036		(1)
State and municipal	30		—		—		—		30		—
CLO Securities	22,707		(54)		—		—		22,707		(54)
Corporate bonds	—		—		—		—		—		—
SBA pooled securities	—		—		—		—		—		—
	$	43,160	$	(209)	$	5,005	$	(2)	$	48,165	$	(211)

Summary of Activity in Allowance for Credit Losses for Held To Maturity Debt Securities

The following table presents the activity in the allowance for credit losses for held to maturity debt securities:


(Dollars in thousands)	Three Months Ended September 30,				Nine Months Ended September 30,
Held to Maturity CLO Securities	2022		2021		2022		2021
Allowance for credit losses:
Beginning balance	$	2,355	$	1,727	$	2,082	$	2,026
Credit loss expense	75		10		348		(289)
Allowance for credit losses ending balance	$	2,430	$	1,737	$	2,430	$	1,737

Loans and Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2022

Receivables [Abstract]

Schedule of Loans Held for Sale

The following table presents loans held for sale:


(Dollars in thousands)	September 30, 2022		December 31, 2021
1-4 family residential	$	68	$	712
Commercial	10		6,618
Total loans held for sale	$	78	$	7,330

Schedule of Amortized Cost and Unpaid Principal

The following table presents the amortized cost and unpaid principal balance of loans held for investment:


	September 30, 2022						December 31, 2021
(Dollars in thousands)	Amortized Cost		Unpaid Principal		Difference		Amortized Cost		Unpaid Principal		Difference
Commercial real estate	$	669,742	$	670,980	$	(1,238)	$	632,775	$	634,319	$	(1,544)
Construction, land development, land	75,527		75,606		(79)		123,464		123,643		(179)
1-4 family residential	122,594		122,804		(210)		123,115		123,443		(328)
Farmland	66,595		66,838		(243)		77,394		77,905		(511)
Commercial	1,282,199		1,295,015		(12,816)		1,430,429		1,440,542		(10,113)
Factored receivables	1,449,080		1,453,591		(4,511)		1,699,537		1,703,936		(4,399)
Consumer	9,506		9,509		(3)		10,885		10,883		2
Mortgage warehouse	758,061		758,061		—		769,973		769,973		—
Total loans held for investment	4,433,304		$	4,452,404	$	(19,100)	4,867,572		$	4,884,644	$	(17,072)
Allowance for credit losses	(44,111)						(42,213)
	$	4,389,193					$	4,825,359

Summary of Allowance for Loan and Lease Losses

The activity in the allowance for credit losses (“ACL”) related to loans held for investment is as follows:


(Dollars in thousands)	Beginning Balance		Credit Loss Expense		Charge-offs		Recoveries		Ending Balance
Three months ended September 30, 2022
Commercial real estate	$	5,167	$	(373)	$	—	$	—	$	4,794
Construction, land development, land	1,192		(198)		—		1		995
1-4 family residential	757		(16)		—		1		742
Farmland	490		(23)		—		—		467
Commercial	12,738		3,431		(208)		59		16,020
Factored receivables	22,212		183		(2,433)		172		20,134
Consumer	197		62		(106)		49		202
Mortgage warehouse	654		103		—		—		757
	$	43,407	$	3,169	$	(2,747)	$	282	$	44,111


(Dollars in thousands)	Beginning Balance		Credit Loss Expense		Charge-offs		Recoveries		Ending Balance
Three months ended September 30, 2021
Commercial real estate	$	4,404	$	(453)	$	(17)	$	2	$	3,936
Construction, land development, land	1,490		(434)		—		1		1,057
1-4 family residential	545		(64)		(1)		5		485
Farmland	669		(59)		—		—		610
Commercial	15,674		(1,187)		(211)		—		14,276
Factored receivables	21,823		1,186		(3,597)		239		19,651
Consumer	236		153		(139)		—		250
Mortgage warehouse	853		(101)		—		—		752
	$	45,694	$	(959)	$	(3,965)	$	247	$	41,017


(Dollars in thousands)	Beginning Balance		Credit Loss Expense		Charge-offs		Recoveries		Ending Balance
Nine Months Ended September 30, 2022
Commercial real estate	$	3,961	$	881	$	(108)	$	60	$	4,794
Construction, land development, land	827		165		—		3		995
1-4 family residential	468		268		—		6		742
Farmland	562		(95)		—		—		467
Commercial	14,485		2,417		(1,192)		310		16,020
Factored receivables	20,915		2,298		(3,853)		774		20,134
Consumer	226		180		(313)		109		202
Mortgage warehouse	769		(12)		—		—		757
	$	42,213	$	6,102	$	(5,466)	$	1,262	$	44,111


(Dollars in thousands)	Beginning Balance		Credit Loss Expense		Charge-offs		Recoveries		Ending Balance
Nine months ended September 30, 2021
Commercial real estate	$	10,182	$	(6,239)	$	(17)	$	10	$	3,936
Construction, land development, land	3,418		(2,352)		(12)		3		1,057
1-4 family residential	1,225		(804)		(26)		90		485
Farmland	832		(222)		—		—		610
Commercial	22,040		(7,936)		(426)		598		14,276
Factored receivables	56,463		8,547		(45,683)		324		19,651
Consumer	542		(99)		(285)		92		250
Mortgage warehouse	1,037		(285)		—		—		752
	$	95,739	$	(9,390)	$	(46,449)	$	1,117	$	41,017

Individual And Collective Allowance For Credit Losses On Financing Receivables And Loan Balances


(Dollars in thousands)	Real Estate		Accounts Receivable		Equipment		Other		Total		ACL Allocation
September 30, 2022
Commercial real estate	$	1,240	$	—	$	—	$	142	$	1,382	$	283
Construction, land development, land	151		—		—		—		151		—
1-4 family residential	1,663		—		—		47		1,710		80
Farmland	196		—		112		106		414		—
Commercial	208		—		3,256		14,403		17,867		4,330
Factored receivables	—		47,628		—		—		47,628		13,024
Consumer	—		—		—		154		154		13
Mortgage warehouse	—		—		—		—		—		—
Total	$	3,458	$	47,628	$	3,368	$	14,852	$	69,306	$	17,730


(Dollars in thousands)	Real Estate		Accounts Receivable		Equipment		Other		Total		ACL Allocation
December 31, 2021
Commercial real estate	$	2,143	$	—	$	—	$	155	$	2,298	$	283
Construction, land development, land	987		—		—		—		987		—
1-4 family residential	1,583		—		—		116		1,699		39
Farmland	1,803		—		126		116		2,045		—
Commercial	254		—		5,598		3,017		8,869		1,733
Factored receivables	—		42,863		—		—		42,863		12,640
Consumer	—		—		—		240		240		21
Mortgage warehouse	—		—		—		—		—		—
Total	$	6,770	$	42,863	$	5,724	$	3,644	$	59,001	$	14,716

Summary of Contractually Past Due and Nonaccrual Loans

The following tables present an aging of contractually past due loans:


(Dollars in thousands)	Past Due 30-59 Days		Past Due 60-90 Days		Past Due 90 Days or More		Total Past Due		Current		Total		Past Due 90 Days or More and Accruing
September 30, 2022
Commercial real estate	$	1,465	$	—	$	421	$	1,886	$	667,856	$	669,742	$	—
Construction, land development, land	9		—		145		154		75,373		75,527		—
1-4 family residential	984		461		819		2,264		120,330		122,594		—
Farmland	—		—		—		—		66,595		66,595		—
Commercial	288		178		3,097		3,563		1,278,636		1,282,199		48
Factored receivables	42,637		13,455		38,969		95,061		1,354,019		1,449,080		38,969
Consumer	144		28		62		234		9,272		9,506		—
Mortgage warehouse	—		—		—		—		758,061		758,061		—
Total	$	45,527	$	14,122	$	43,513	$	103,162	$	4,330,142	$	4,433,304	$	39,017


(Dollars in thousands)	Past Due 30-59 Days		Past Due 60-90 Days		Past Due 90 Days or More		Total Past Due		Current		Total		Past Due 90 Days or More and Accruing
December 31, 2021
Commercial real estate	$	1,021	$	—	$	16	$	1,037	$	631,738	$	632,775	$	—
Construction, land development, land	30		—		145		175		123,289		123,464		—
1-4 family residential	730		332		1,114		2,176		120,939		123,115		134
Farmland	378		154		977		1,509		75,885		77,394		—
Commercial	996		346		4,948		6,290		1,424,139		1,430,429		—
Factored receivables	70,109		18,302		39,134		127,545		1,571,992		1,699,537		39,134
Consumer	255		48		99		402		10,483		10,885		—
Mortgage warehouse	—		—		—		—		769,973		769,973		—
Total	$	73,519	$	19,182	$	46,433	$	139,134	$	4,728,438	$	4,867,572	$	39,268

Summary of Amortized Cost Basis of Loans on Nonaccrual Status


	September 30, 2022				December 31, 2021
(Dollars in thousands)	Total Nonaccrual		Nonaccrual With No ACL		Total Nonaccrual		Nonaccrual With No ACL
Commercial real estate	$	1,108	$	541	$	2,025	$	1,375
Construction, land development, land	151		151		964		964
1-4 family residential	1,710		1,604		1,683		1,582
Farmland	414		414		2,044		2,044
Commercial	17,291		3,015		8,078		3,910
Factored receivables	—		—		—		—
Consumer	154		112		240		159
Mortgage warehouse	—		—		—		—
	$	20,828	$	5,837	$	15,034	$	10,034

Schedule of Accrued Interest on Non Accrual Loans Reversed Through Interest Income

The following table presents accrued interest on nonaccrual loans reversed through interest income:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Commercial real estate	$	—	$	—	$	—	$	8
Construction, land development, land	—		—		2		—
1-4 family residential	1		—		1		1
Farmland	—		—		—		6
Commercial	—		—		4		23
Factored receivables	—		—		—		—
Consumer	—		3		—		3
Mortgage warehouse	—		—		—		—
	$	1	$	3	$	7	$	41

Schedule of Nonperforming Loans

The following table presents information regarding nonperforming loans:


(Dollars in thousands)	September 30, 2022		December 31, 2021
Nonaccrual loans(1)	$	20,828	$	15,034
Factored receivables greater than 90 days past due	30,184		29,057
Other nonperforming factored receivables(2)	4,331		1,428
Troubled debt restructurings accruing interest	577		765
	$	55,920	$	46,284

(1)Includes troubled debt restructurings of $2,034,000 and $3,912,000 at September 30, 2022 and December 31, 2021, respectively.

Summary of Risk Category of Loans

As of September 30, 2022 and December 31, 2021, based on the most recent analysis performed, the risk category of loans is as follows:


													Revolving Loans		Revolving Loans Converted To Term Loans		Total
(Dollars in thousands)	Year of Origination
September 30, 2022	2022		2021		2020		2019		2018		Prior
Commercial real estate
Pass	$	209,979	$	162,141	$	201,656	$	27,482	$	18,640	$	38,969	$	4,442	$	—	$	663,309
Classified	2,634		779		1,883		39		—		1,098		—		—		6,433
Total commercial real estate	$	212,613	$	162,920	$	203,539	$	27,521	$	18,640	$	40,067	$	4,442	$	—	$	669,742

Construction, land development, land
Pass	$	46,466	$	16,185	$	7,115	$	4,368	$	654	$	578	$	10	$	—	$	75,376
Classified	—		—		6		—		—		145		—		—		151
Total construction, land development, land	$	46,466	$	16,185	$	7,121	$	4,368	$	654	$	723	$	10	$	—	$	75,527

1-4 family residential
Pass	$	19,058	$	23,089	$	11,450	$	3,046	$	3,787	$	22,067	$	38,002	$	308	$	120,807
Classified	29		420		156		52		3		1,059		68		—		1,787
Total 1-4 family residential	$	19,087	$	23,509	$	11,606	$	3,098	$	3,790	$	23,126	$	38,070	$	308	$	122,594

Farmland
Pass	$	10,092	$	12,736	$	10,381	$	2,738	$	6,790	$	21,707	$	1,370	$	218	$	66,032
Classified	199		11		131		112		—		110		—		—		563
Total farmland	$	10,291	$	12,747	$	10,512	$	2,850	$	6,790	$	21,817	$	1,370	$	218	$	66,595

Commercial
Pass	$	300,479	$	220,970	$	181,171	$	45,579	$	7,594	$	13,283	$	473,205	$	269	$	1,242,550
Classified	14,656		10,681		3,701		2,148		110		115		8,238		—		39,649
Total commercial	$	315,135	$	231,651	$	184,872	$	47,727	$	7,704	$	13,398	$	481,443	$	269	$	1,282,199

Factored receivables
Pass	$	1,411,243	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	1,411,243
Classified	17,693		—		20,144		—		—		—		—		—		37,837
Total factored receivables	$	1,428,936	$	—	$	20,144	$	—	$	—	$	—	$	—	$	—	$	1,449,080

Consumer
Pass	$	3,112	$	1,590	$	1,033	$	361	$	355	$	2,760	$	141	$	—	$	9,352
Classified	—		2		2		—		—		150		—		—		154
Total consumer	$	3,112	$	1,592	$	1,035	$	361	$	355	$	2,910	$	141	$	—	$	9,506

Mortgage warehouse
Pass	$	758,061	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	758,061
Classified	—		—		—		—		—		—		—		—		—
Total mortgage warehouse	$	758,061	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	758,061

Total loans
Pass	$	2,758,490	$	436,711	$	412,806	$	83,574	$	37,820	$	99,364	$	517,170	$	795	$	4,346,730
Classified	35,211		11,893		26,023		2,351		113		2,677		8,306		—		86,574
Total loans	$	2,793,701	$	448,604	$	438,829	$	85,925	$	37,933	$	102,041	$	525,476	$	795	$	4,433,304


													Revolving Loans		Revolving Loans Converted To Term Loans		Total
(Dollars in thousands)	Year of Origination
December 31, 2021	2021		2020		2019		2018		2017		Prior
Commercial real estate
Pass	$	211,088	$	249,652	$	50,223	$	25,930	$	47,447	$	37,290	$	4,595	$	—	$	626,225
Classified	2,879		3,358		41		—		16		—		256		—		6,550
Total commercial real estate	$	213,967	$	253,010	$	50,264	$	25,930	$	47,463	$	37,290	$	4,851	$	—	$	632,775

Construction, land development, land
Pass	$	56,764	$	33,756	$	4,744	$	23,696	$	1,199	$	994	$	8	$	—	$	121,161
Classified	2,150		8		—		—		—		145		—		—		2,303
Total construction, land development, land	$	58,914	$	33,764	$	4,744	$	23,696	$	1,199	$	1,139	$	8	$	—	$	123,464

1-4 family residential
Pass	$	26,840	$	15,195	$	9,485	$	6,526	$	8,591	$	22,151	$	32,210	$	318	$	121,316
Classified	273		233		53		6		64		1,089		81		—		1,799
Total 1-4 family residential	$	27,113	$	15,428	$	9,538	$	6,532	$	8,655	$	23,240	$	32,291	$	318	$	123,115

Farmland
Pass	$	14,387	$	13,396	$	7,892	$	8,040	$	10,040	$	19,792	$	1,317	$	241	$	75,105
Classified	199		612		593		333		128		298		126		—		2,289
Total farmland	$	14,586	$	14,008	$	8,485	$	8,373	$	10,168	$	20,090	$	1,443	$	241	$	77,394

Commercial
Pass	$	466,254	$	332,746	$	77,010	$	18,940	$	15,032	$	7,704	$	490,159	$	49	$	1,407,894
Classified	9,317		6,858		5,088		558		56		456		202		—		22,535
Total commercial	$	475,571	$	339,604	$	82,098	$	19,498	$	15,088	$	8,160	$	490,361	$	49	$	1,430,429

Factored receivables
Pass	$	1,667,922	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	1,667,922
Classified	10,826		20,789		—		—		—		—		—		—		31,615
Total factored receivables	$	1,678,748	$	20,789	$	—	$	—	$	—	$	—	$	—	$	—	$	1,699,537

Consumer
Pass	$	3,252	$	1,794	$	669	$	553	$	2,424	$	1,882	$	70	$	—	$	10,644
Classified	5		—		—		12		119		105		—		—		241
Total consumer	$	3,257	$	1,794	$	669	$	565	$	2,543	$	1,987	$	70	$	—	$	10,885

Mortgage warehouse
Pass	$	769,973	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	769,973
Classified	—		—		—		—		—		—		—		—		—
Total mortgage warehouse	$	769,973	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	769,973

Total loans
Pass	$	3,216,480	$	646,539	$	150,023	$	83,685	$	84,733	$	89,813	$	528,359	$	608	$	4,800,240
Classified	25,649		31,858		5,775		909		383		2,093		665		—		67,332
Total loans	$	3,242,129	$	678,397	$	155,798	$	84,594	$	85,116	$	91,906	$	529,024	$	608	$	4,867,572

Schedule of Loans Modified as Troubled Debt Restructurings


(Dollars in thousands)	Extended Amortization Period		Payment Deferrals		Protective Advances		Total Modifications		Number of Loans
Three months ended September 30, 2022


Commercial	$	45	$	—	$	—	$	45	1
	$	45	$	—	$	—	$	45	1

Nine months ended September 30, 2022



Commercial	$	45	$	—	$	—	$	45	1
	$	45	$	—	$	—	$	45	1






Nine months ended September 30, 2021
Commercial real estate	$	—			$	741	$	741	1



	$	—	$	—	$	741	$	741	1

Balance of Loans Modified Due to COVID-19

The following table summarizes the balance of loans modified for borrowers impacted by the COVID-19 pandemic.


	Three Months Ended September 30,		Nine Months Ended September 30,
(Dollars in thousands)	2022	2021	2022	2021
Total modifications	—	—	—	10,459

Summary of Amortized Cost of Loans Currently in Deferral

The following table summarized the amortized cost of loans with payments in deferral and the accrued interest related to the loans with payments in deferral at December 31, 2021:


(Dollars in thousands)	Total Loans		Balance of Loans Currently in Deferral		Percentage of Portfolio		Accrued Interest Receivable

December 31, 2021
Commercial real estate	$	632,775	$	30,212	4.8	%	$	116
Construction, land development, land	123,464		1,340		1.1	%	5
1-4 family residential	123,115		—		—	%	—
Farmland	77,394		338		0.4	%	3
Commercial	1,430,429		—		—	%	—
Factored receivables	1,699,537		—		—	%	—
Consumer	10,885		6		0.1	%	—
Mortgage warehouse	769,973		—		—	%	—
Total	$	4,867,572	$	31,896	0.7	%	$	124

Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

Goodwill and intangible assets consist of the following:


(Dollars in thousands)	September 30, 2022		December 31, 2021
Goodwill	$	233,709	$	233,727


	September 30, 2022						December 31, 2021
(Dollars in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Core deposit intangibles	$	43,578	$	(34,536)	$	9,042	$	43,578	$	(31,800)	$	11,778
Software intangible assets	16,932		(5,644)		11,288		16,932		(2,469)		14,463
Other intangible assets	30,410		(15,845)		14,565		29,560		(12,672)		16,888
	$	90,920	$	(56,025)	$	34,895	$	90,070	$	(46,941)	$	43,129

Schedule of Changes in Goodwill and Intangible Assets

The changes in goodwill and intangible assets during the three and nine months ended September 30, 2022 and 2021 are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Beginning balance	$	270,666	$	286,567	$	276,856	$	189,922
Acquired goodwill	—		—		—		73,697
Acquired intangible assets	851		—		851		27,292
Acquired goodwill - measurement period adjustment	—		(3,238)		(18)		(3,179)




Amortization of intangibles	(2,913)		(3,274)		(9,085)		(7,677)
Ending balance	$	268,604	$	280,055	$	268,604	$	280,055

Equity Method Investment (Tables)

9 Months Ended

Sep. 30, 2022

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

The following table presents the Company’s investment in WSI:


(Dollars in thousands)	September 30, 2022		December 31, 2021
Common stock	$	38,088	$	5,142
Warrants	—		3,224
Total investment	$	38,088	$	8,366

Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Pre-Tax Impact of Terminated Cash Flow Hedge on AOCI

The following table presents the pre-tax impact of the terminated cash flow hedge on AOCI:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Unrealized gains on terminated hedges
Beginning Balance	$	—	$	—	$	—	$	—
Unrealized gains arising during the period	—		—		9,316		—
Reclassification adjustments for amortization of unrealized (gains) into net income	—		—		(9,316)		—
Ending Balance	$	—	$	—	$	—	$	—

Schedule of Fair Value of Derivative Financial Instruments Classification on Balance Sheet

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Balance Sheet as of December 31, 2021:

Derivative Assets

As of December 31, 2021

(Dollars in thousands)

Notional
Amount

Balance
Sheet Location

Fair Value
Total

Derivatives designated as hedging instruments:

Interest rate swaps

200,000

Other Assets

6,164

Schedule of Pre-Tax Impact of Terminated Cash Flow Hedge on AOCI

The table below presents the effect of cash flow hedge accounting on Accumulated Other Comprehensive Income, net of tax:


	Amount of Gain or (Loss) Recognized in OCI on Derivative		Amount of Gain or (Loss) Recognized in OCI Included Component		Location of (Gain) or Loss Recognized from AOCI into Income	Amount of (Gain) or Loss Reclassified from AOCI into Income		Amount of (Gain) or Loss Reclassified from AOCI into Income Included Component
(Dollars in thousands)
Three Months Ended September 30, 2022
Derivatives in cash flow hedging relationships:
Interest rate swaps	$	—	$	—	Interest Expense, Noninterest Income	$	—	$	—

Three Months Ended September 30, 2021
Derivatives in cash flow hedging relationships:
Interest rate swaps	$	7	$	7	Interest Expense	$	14	$	14

Nine Months Ended September 30, 2022
Derivatives in cash flow hedging relationships:
Interest rate swaps	$	(4,705)	$	(4,705)	Interest Expense, Noninterest Income	$	(7,103)	$	(7,103)

Nine Months Ended September 30, 2021
Derivatives in cash flow hedging relationships:
Interest rate swaps	$	2,386	$	2,386	Interest Expense	$	53	$	53

Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Variable Interest Entities

The Company holds investments in the subordinated notes of the following closed Collateralized Loan Obligation (“CLO”) funds:


(Dollars in thousands)	Offering Date	Offering Amount
Trinitas CLO IV, LTD (Trinitas IV)	June 2, 2016	$	406,650
Trinitas CLO V, LTD (Trinitas V)	September 22, 2016	$	409,000
Trinitas CLO VI, LTD (Trinitas VI)	June 20, 2017	$	717,100

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Off-Balance Sheet Loan Commitments (Tables)

9 Months Ended

Sep. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Summary of Financial Instruments with Off-Balance Sheet Risk

The contractual amounts of financial instruments with off-balance sheet risk were as follows:


	September 30, 2022						December 31, 2021
(Dollars in thousands)	Fixed Rate		Variable Rate		Total		Fixed Rate		Variable Rate		Total
Unused lines of credit	$	3,994	$	442,809	$	446,803	$	26,029	$	523,483	$	549,512
Standby letters of credit	$	13,711	$	4,920	$	18,631	$	11,090	$	5,409	$	16,499
Commitments to purchase loans	$	—	$	79,030	$	79,030	$	—	$	108,423	$	108,423
Mortgage warehouse commitments	$	—	$	851,939	$	851,939	$	—	$	823,060	$	823,060

Securities Borrowed, Allowance for Credit Loss

The following table presents credit loss expense for off balance sheet credit exposures:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Credit loss expense (benefit)	$	(598)	$	(238)	$	(402)	$	(1,159)

Fair Value Disclosures (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized in the table below.


(Dollars in thousands)	Fair Value Measurements Using						Total Fair Value
September 30, 2022	Level 1		Level 2		Level 3
Assets measured at fair value on a recurring basis
Securities available for sale
Mortgage-backed securities, residential	$	—	$	44,675	$	—	$	44,675
Asset-backed securities	—		6,476		—		6,476
State and municipal	—		14,262		—		14,262
CLO securities	—		169,708		—		169,708
Corporate bonds	—		1,249		—		1,249
SBA pooled securities	—		2,064		—		2,064
	$	—	$	238,434	$	—	$	238,434

Equity securities with readily determinable fair values
Mutual fund	$	4,916	$	—	$	—	$	4,916

Loans held for sale	$	—	$	78	$	—	$	78

Indemnification asset	$	—	$	—	$	4,173	$	4,173

Revenue share asset	$	—	$	—	$	6,178	$	6,178

Liabilities measured at fair value on a recurring basis
Return of premium liability	$	—	$	—	$	570	$	570


(Dollars in thousands)	Fair Value Measurements Using						Total Fair Value
December 31, 2021	Level 1		Level 2		Level 3
Assets measured at fair value on a recurring basis
Securities available for sale
Mortgage-backed securities, residential	$	—	$	37,449	$	—	$	37,449
Asset-backed securities	—		6,764		—		6,764
State and municipal	—		26,825		—		26,825
CLO Securities	—		106,634		—		106,634
Corporate bonds	—		2,056		—		2,056
SBA pooled securities	—		2,698		—		2,698
	$	—	$	182,426	$	—	$	182,426

Equity securities with readily determinable fair values
Mutual fund	$	5,504	$	—	$	—	$	5,504

Loans held for sale	$	—	$	7,330	$	—	$	7,330

Derivative financial instruments (cash flow hedges)
Interest rate swap	$	—	$	6,164	$	—	$	6,164

Indemnification asset	$	—	$	—	$	4,786	$	4,786

Reconciliation of Opening Balance to Closing Balance of Fair Value of Contingent Consideration

A reconciliation of the opening balance to the closing balance of the fair value of the indemnification asset is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Beginning balance	$	4,377	$	5,246	$	4,786	$	36,225
Indemnification asset recognized in business combination	—		—		—		—
Change in fair value of indemnification asset recognized in earnings	(204)		(460)		(613)		4,194
Indemnification reduction	—		—		—		(35,633)
Ending balance	$	4,173	$	4,786	$	4,173	$	4,786

A reconciliation of the opening balance to the closing balance of the fair value of the revenue share asset is as follows:



(Dollars in thousands)	Three Months Ended September 30, 2022		Nine Months Ended September 30, 2022
Beginning balance	$	5,210	$	—
Revenue share asset recognized	1,027		6,237
Change in fair value of revenue share asset recognized in earnings	171		171
Revenue share payments received	(230)		(230)
Ending balance	$	6,178	$	6,178

A reconciliation of the opening balance to the closing balance of the fair value of the return of premium liability is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Beginning balance	$	708	$	—	$	—	$	—
Return of premium liability recognized in business combination	—		—		708		—
Change in fair value of return of premium liability recognized in earnings	(104)		—		(104)		—
Return of premium payments made	(34)		—		(34)		—
Ending balance	$	570	$	—	$	570	$	—

Fair Value of Assets Measured on Non-recurring Basis


(Dollars in thousands)	Fair Value Measurements Using						Total Fair Value
September 30, 2022	Level 1		Level 2		Level 3
Collateral dependent loans
Commercial real estate	$	—	$	—	$	283	$	283
1-4 family residential	—		—		25		25
Commercial	—		—		9,771		9,771
Factored receivables	—		—		34,604		34,604
Consumer	—		—		29		29


	$	—	$	—	$	44,712	$	44,712


(Dollars in thousands)	Fair Value Measurements Using						Total Fair Value
December 31, 2021	Level 1		Level 2		Level 3
Collateral dependent loans
Commercial real estate	$	—	$	—	$	366	$	366
1-4 family residential	—		—		61		61
Commercial	—		—		2,435		2,435
Factored receivables	—		—		30,224		30,224
Consumer	—		—		60		60
Other real estate owned (1)
Commercial real estate	—		—		7		7
Construction, land development, land	—		—		63		63
	$	—	$	—	$	33,216	$	33,216

(1)Represents the fair value of OREO that was adjusted during the year to date period and subsequent to its initial classification as OREO.

Estimated Fair Value of Company's Financial Assets and Financial Liabilities

The estimated fair values of the Company’s financial instruments not measured at fair value on a recurring or non-recurring basis at September 30, 2022 and December 31, 2021 were as follows:


(Dollars in thousands)	Carrying Amount		Fair Value Measurements Using						Total Fair Value
September 30, 2022			Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	421,729	$	421,729	$	—	$	—	$	421,729
Securities - held to maturity	4,149		—		—		5,603		5,603
Loans not previously presented, gross	4,388,592		228,971		—		4,080,885		4,309,856
FHLB and other restricted stock	6,213		N/A		N/A		N/A		N/A
Accrued interest receivable	18,214		18,214		—		—		18,214

Financial liabilities:
Deposits	4,441,354		—		4,429,225		—		4,429,225
Customer repurchase agreements	13,463		—		13,463		—		13,463
Federal Home Loan Bank advances	30,000		—		30,000		—		30,000
Subordinated notes	107,587		—		106,327		—		106,327
Junior subordinated debentures	41,016		—		42,847		—		42,847
Accrued interest payable	2,538		2,538		—		—		2,538


(Dollars in thousands)	Carrying Amount		Fair Value Measurements Using						Total Fair Value
December 31, 2021			Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	383,178	$	383,178	$	—	$	—	$	383,178
Securities - held to maturity	4,947		—		—		5,447		5,447
Loans not previously presented, gross	4,834,426		142,962		—		4,685,058		4,828,020
FHLB and other restricted stock	10,146		N/A		N/A		N/A		N/A
Accrued interest receivable	15,319		15,319		—		—		15,319

Financial liabilities:
Deposits	4,646,679		—		4,646,552		—		4,646,552
Customer repurchase agreements	2,103		—		2,103		—		2,103
Federal Home Loan Bank advances	180,000		—		180,000		—		180,000
Paycheck Protection Program Liquidity Facility	27,144		—		27,144		—		27,144
Subordinated notes	106,957		—		110,045		—		110,045
Junior subordinated debentures	40,602		—		41,286		—		41,286
Accrued interest payable	1,951		1,951		—		—		1,951

Regulatory Matters (Tables)

9 Months Ended

Sep. 30, 2022

Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]

Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations

The actual capital amounts and ratios for the Company and TBK Bank are presented in the following table.


(Dollars in thousands)	Actual			Minimum for Capital Adequacy Purposes			To Be Well Capitalized Under Prompt Corrective Action Provisions
September 30, 2022	Amount		Ratio	Amount		Ratio	Amount		Ratio
Total capital (to risk weighted assets)
Triumph Bancorp, Inc.	$	831,228	16.6%	$	400,592	8.0%	N/A		N/A
TBK Bank, SSB	$	781,506	15.7%	$	398,220	8.0%	$	497,775	10.0%

Tier 1 capital (to risk weighted assets)
Triumph Bancorp, Inc.	$	685,113	13.6%	$	302,256	6.0%	N/A		N/A
TBK Bank, SSB	$	744,948	15.0%	$	297,979	6.0%	$	397,306	8.0%

Common equity Tier 1 capital (to risk weighted assets)
Triumph Bancorp, Inc.	$	599,097	11.9%	$	226,549	4.5%	N/A		N/A
TBK Bank, SSB	$	744,948	15.0%	$	223,484	4.5%	$	322,811	6.5%

Tier 1 capital (to average assets)
Triumph Bancorp, Inc.	$	685,113	12.6%	$	217,496	4.0%	N/A		N/A
TBK Bank, SSB	$	744,948	13.7%	$	217,503	4.0%	$	271,879	5.0%

As of December 31, 2021
Total capital (to risk weighted assets)
Triumph Bancorp, Inc.	$	769,475	14.1%	$	436,582	8.0%	N/A		N/A
TBK Bank, SSB	$	698,286	12.9%	$	433,046	8.0%	$	541,307	10.0%

Tier 1 capital (to risk weighted assets)
Triumph Bancorp, Inc.	$	628,094	11.5%	$	327,701	6.0%	N/A		N/A
TBK Bank, SSB	$	665,336	12.3%	$	324,554	6.0%	$	432,739	8.0%

Common equity Tier 1 capital (to risk weighted assets)
Triumph Bancorp, Inc.	$	542,492	9.9%	$	246,587	4.5%	N/A		N/A
TBK Bank, SSB	$	665,336	12.3%	$	243,416	4.5%	$	351,600	6.5%

Tier 1 capital (to average assets)
Triumph Bancorp, Inc.	$	628,094	11.1%	$	226,340	4.0%	N/A		N/A
TBK Bank, SSB	$	665,336	11.8%	$	225,538	4.0%	$	281,922	5.0%

Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Summary of Capital Structure

The following summarizes the capital structure of Triumph Bancorp, Inc.

Preferred Stock Series C


(Dollars in thousands, except per share amounts)	September 30, 2022			December 31, 2021
Shares authorized	51,750			51,750
Shares issued	45,000			45,000
Shares outstanding	45,000			45,000
Par value per share	$	0.01		$	0.01
Liquidation preference per share	$	1,000		$	1,000
Liquidation preference amount	$	45,000		$	45,000
Dividend rate	7.125		%	7.125		%
Dividend payment dates	Quarterly			Quarterly

Common Stock


	September 30, 2022		December 31, 2021
Shares authorized	50,000,000		50,000,000
Shares issued	28,321,716		28,261,680
Treasury shares	(3,843,428)		(3,102,801)
Shares outstanding	24,478,288		25,158,879
Par value per share	$	0.01	$	0.01

Class of Treasury Stock

The following repurchases were made under the February 7, 2022 program. No shares have been purchased under the May 23, 2022 program.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Shares repurchased into treasury stock	—		—		709,795		—
Average price of shares repurchased into treasury stock	$	—	$	—	$	70.41	$	—
Total cost of shares repurchased into treasury stock	$	—	$	—	$	50,000,000	$	—

Stock Based Compensation (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Changes in Company's Nonvested Restricted Stock Awards

A summary of changes in the Company’s nonvested Restricted Stock Awards (“RSAs”) under the Omnibus Incentive Plan for the nine months ended September 30, 2022 were as follows:


Nonvested RSAs	Shares	Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2022	363,404	67.56
Granted	12,471	74.42
Vested	(126,203)	61.74
Forfeited	(3,098)	45.60
Nonvested at September 30, 2022	246,574	71.17

Summary of Changes in Company's Nonvested Restricted Stock Units

A summary of changes in the Company’s nonvested Restricted Stock Units (“RSUs”) under the Omnibus Incentive Plan for the nine months ended September 30, 2022 were as follows:


Nonvested RSUs	Shares	Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2022	122,470	52.07
Granted	91,849	69.44
Vested	—	—
Forfeited	(967)	52.46
Nonvested at September 30, 2022	213,352	59.55

Summary of Changes in Company's Nonvested Performance Stock Units


Nonvested Market Based PSUs	Shares	Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2022	94,984	$	43.68
Granted	33,276	84.22
Incremental shares earned	8,997	N/A
Vested	(20,996)	33.91
Forfeited	(535)	38.57
Nonvested at September 30, 2022	115,726	$	56.38


Nonvested Performance Based PSUs	Shares	Weighted Average Grant Date Fair Value
Nonvested at January 1, 2022	259,383	$	39.32
Granted	3,000	69.44
Vested	—	—
Forfeited	(6,349)	43.26
Nonvested at September 30, 2022	256,034	$	39.57

Share Based Compensation Performance Stock Units Valuation Assumptions Table

The fair value of the Market Based PSUs granted was determined using the following weighted-average assumptions:


	Nine Months Ended September 30,
	2022			2021
Grant date	May 1, 2022			May 1, 2021
Performance period	3.00 years			3.00 years
Stock price	$	69.44		$	88.63
Triumph stock price volatility	55.17		%	51.71		%
Risk-free rate	2.84		%	0.35		%

Summary of Changes in Company's Stock Options

A summary of the changes in the Company’s stock options under the Omnibus Incentive Plan for the nine months ended September 30, 2022 were as follows:


Stock Options	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (In Years)	Aggregate Intrinsic Value (In Thousands)
Outstanding at January 1, 2022	166,755	$	33.34
Granted	35,939	69.44
Exercised	(3,797)	26.12
Forfeited or expired	—	—
Outstanding at September 30, 2022	198,897	$	40.00	6.41	$	3,976

Fully vested shares and shares expected to vest at September 30, 2022	198,897	$	40.00	6.41	$	3,976

Shares exercisable at September 30, 2022	128,958	$	29.10	5.15	$	3,401

Schedule of Information Related to Stock Options

Information related to the stock options for the nine months ended September 30, 2022 and 2021 was as follows:


	Nine Months Ended September 30,
(Dollars in thousands, except per share amounts)	2022		2021
Aggregate intrinsic value of options exercised	$	280	$	2,249
Cash received from option exercises, net	(74)		196
Tax benefit realized from option exercises	59		472
Weighted average fair value per share of options granted	$	32.15	$	35.37

Fair Value of Stock Options Granted Weighted-Average Assumptions

The fair value of the stock options granted was determined using the following weighted-average assumptions:


	Nine Months Ended September 30,
	2022		2021
Risk-free interest rate	2.77	%	1.16	%
Expected term	6.25 years		6.25 years
Expected stock price volatility	43.33	%	39.26	%
Dividend yield	—		—

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Factors Used in Computation of Earnings Per Share

The factors used in the earnings per share computation follow:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2022		2021		2022		2021
Basic
Net income to common stockholders	$	15,428	$	23,627	$	82,346	$	83,929
Weighted average common shares outstanding	24,227,020		24,759,419		24,483,054		24,719,861
Basic earnings per common share	$	0.64	$	0.95	$	3.36	$	3.40
Diluted
Net income to common stockholders	$	15,428	$	23,627	$	82,346	$	83,929
Weighted average common shares outstanding	24,227,020		24,759,419		24,483,054		24,719,861
Dilutive effects of:
Assumed exercises of stock options	85,239		121,110		95,252		129,149
Restricted stock awards	122,723		141,204		162,883		146,172
Restricted stock units	97,512		74,268		96,174		71,620
Performance stock units - market based	117,358		131,346		124,249		131,275
Performance stock units - performance based	327,016		—		109,005		—
Employee stock purchase program	2,389		616		2,245		1,914
Average shares and dilutive potential common shares	24,979,257		25,227,963		25,072,862		25,199,991
Diluted earnings per common share	$	0.62	$	0.94	$	3.28	$	3.33

Schedule of Shares not Considered in Computing Diluted Earnings per Common Share

Shares that were not considered in computing diluted earnings per common share because they were antidilutive are as follows:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2022	2021	2022	2021
Stock options	52,878	16,939	52,878	16,939
Restricted stock awards	6,348	—	6,348	195,640
Restricted stock units	15,000	—	15,000	17,757
Performance stock units - market based	45,296	12,020	45,296	12,020
Performance stock units - performance based	—	259,383	—	259,383
Employee stock purchase program	—	—	—	—

Business Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information


(Dollars in thousands)
Three months ended September 30, 2022	Banking		Factoring		Payments		Corporate		Consolidated
Total interest income	$	49,864	$	49,561	$	3,756	$	44	$	103,225
Intersegment interest allocations	2,606		(2,458)		(148)		—		—
Total interest expense	2,924		—		—		2,031		4,955
Net interest income (expense)	49,546		47,103		3,608		(1,987)		98,270
Credit loss expense (benefit)	2,388		(52)		235		75		2,646
Net interest income after credit loss expense	47,158		47,155		3,373		(2,062)		95,624
Noninterest income	6,189		2,941		3,518		20		12,668
Noninterest expense	48,648		22,896		14,066		1,079		86,689
Net income (loss) before income tax expense	$	4,699	$	27,200	$	(7,175)	$	(3,121)	$	21,603


(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
Net income (loss) before income tax expense	$	15,141	$	26,168	$	(5,184)	$	(3,925)	$	32,200


(Dollars in thousands)
Nine months ended September 30, 2022	Banking		Factoring		Payments		Corporate		Consolidated
Total interest income	$	138,286	$	161,789	$	12,760	$	132	$	312,967
Intersegment interest allocations	6,651		(6,312)		(339)		—		—
Total interest expense	7,547		—		—		5,643		13,190
Net interest income (expense)	137,390		155,477		12,421		(5,511)		299,777
Credit loss expense (benefit)	2,638		1,961		405		1,044		6,048
Net interest income after credit loss expense	134,752		153,516		12,016		(6,555)		293,729
Noninterest income	34,496		20,333		17,069		51		71,949
Noninterest expense	138,741		66,408		46,062		2,649		253,860
Net income (loss) before income tax expense	$	30,507	$	107,441	$	(16,977)	$	(9,153)	$	111,818


(Dollars in thousands)
Nine months ended September 30, 2021	Banking		Factoring		Payments		Corporate		Consolidated
Total interest income	$	144,087	$	127,699	$	7,939	$	51	$	279,776
Intersegment interest allocations	8,117		(7,700)		(417)		—		—
Total interest expense	8,225		—		—		6,478		14,703
Net interest income (expense)	143,979		119,999		7,522		(6,427)		265,073
Credit loss expense (benefit)	(19,187)		8,091		548		(290)		(10,838)
Net interest income after credit loss expense	163,166		111,908		6,974		(6,137)		275,911
Noninterest income	25,139		10,710		4,242		151		40,242
Noninterest expense	122,497		52,433		26,393		3,180		204,503
Net income (loss) before income tax expense	$	65,808	$	70,185	$	(15,177)	$	(9,166)	$	111,650

Total assets and gross loans below include intersegment loans, which eliminate in consolidation.


(Dollars in thousands)
September 30, 2022	Banking		Factoring		Payments		Corporate		Eliminations		Consolidated
Total assets	$	5,162,380	$	1,406,367	$	354,179	$	1,041,293	$	(2,321,769)	$	5,642,450
Gross loans	$	3,849,962	$	1,330,122	$	118,958	$	—	$	(865,738)	$	4,433,304


(Dollars in thousands)
December 31, 2021	Banking		Factoring		Payments		Corporate		Eliminations		Consolidated
Total assets	$	5,568,826	$	1,679,495	$	293,212	$	1,009,998	$	(2,595,281)	$	5,956,250
Gross loans	$	4,444,136	$	1,546,361	$	153,176	$	700	$	(1,276,801)	$	4,867,572

Summary of Significant Accounting Policies - Narrative (Details)	9 Months Ended
	Sep. 30, 2022 segment
Accounting Policies [Abstract]
Number of reportable segments	4

Acquisitions and Divestitures - Summary of Assets and Liabilities in Disposal Group, Equipment Loan Sale (Details) - Equipment Loans Disposal Group - Disposal Group, Disposed of by Sale, Not Discontinued Operations $ in Thousands	Jun. 23, 2022 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equipment loans	$ 191,167
Accrued interest receivable	1,587
Assets sold	192,754
Cash consideration	197,454
Return of premium liability	(708)
Total consideration	196,746
Transaction costs	73
Gain on sale, net of transaction costs	$ 3,919

Acquisitions and Divestitures - Additional Information (Details) $ in Thousands			3 Months Ended	9 Months Ended
	Jun. 01, 2021 USD ($)	Jul. 08, 2020 USD ($) client shares	Mar. 31, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 06, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jun. 23, 2022 USD ($)	Jun. 01, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)	Sep. 23, 2020 USD ($) shares
Business Acquisition [Line Items]
Goodwill				$ 233,709					$ 233,727
Loans				4,433,304					4,867,572
Indemnification asset				4,173					4,786
Loans, net				4,389,193					4,825,359
Gain on indemnification asset			$ 4,654
Fair Value, Measurements, Recurring
Business Acquisition [Line Items]
Indemnification asset				4,173					4,786
Level 3
Business Acquisition [Line Items]
Indemnification asset, expected cash payments to be received				4,393					5,038
Level 3 \| Fair Value, Measurements, Recurring
Business Acquisition [Line Items]
Indemnification asset				4,173					4,786
HubTran, Inc.
Business Acquisition [Line Items]
Goodwill	$ 73,697							$ 70,441
Business acquisition, transaction costs										$ 2,992
Payments to acquire businesses, gross	97,096
HubTran, Inc. \| Capitalized Software
Business Acquisition [Line Items]
Intangible assets	$ 16,932							16,932
Intangible asset, estimated useful life	4 years
HubTran, Inc. \| Customer Relationships
Business Acquisition [Line Items]
Intangible assets	$ 10,360							$ 10,360
Intangible asset, estimated useful life	11 years
Transport Financial Solutions
Business Acquisition [Line Items]
Payments to acquire businesses, gross		$ 108,375
Number of common stock (in shares) \| shares		630,268
Business combination, consideration transferred, equity interests issued and issuable		$ 13,942
Number of large clients \| client		3
Portion of purchase price returned (in shares) \| shares											630,268
Indemnification asset, fair value		$ 30,959
Charge -off			41,265
Credit loss expense			2,844
Reduction in required ACL				1,291
Transport Financial Solutions \| CVLG
Business Acquisition [Line Items]
Loans, net			$ 35,633
Transport Financial Solutions \| Indemnification Agreement
Business Acquisition [Line Items]
Percent indemnified, first $30 million of losses											100.00%
First increment of losses incurred											$ 30,000
Percent indemnified, second $30 million of losses											50.00%
Second increment of losses incurred											$ 30,000
Total indemnification amount											45,000
Net orderly liquidation value											60,000
Transport Financial Solutions \| Indemnification Agreement \| CVLG
Business Acquisition [Line Items]
Unsecured federal funds line of credit											45,000
Unused borrowing capacity				9,361
Transport Financial Solutions \| Over-Formula Advances
Business Acquisition [Line Items]
Loans		62,200									$ 62,200
Transport Financial Solutions \| Maximum
Business Acquisition [Line Items]
Liabilities measured at fair value on a recurring basis		$ 9,900
Factored receivables
Business Acquisition [Line Items]
Loans				1,449,080					1,699,537
Factored receivables \| Over-Formula Advances
Business Acquisition [Line Items]
Loans				8,785					$ 10,077
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Equipment Loans Disposal Group
Business Acquisition [Line Items]
Return of premium liability							$ 708
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Factored Receivable Disposal Group
Business Acquisition [Line Items]
Revenue share asset				$ 6,237	$ 1,027	$ 5,210
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Factored Receivable Disposal Group \| Factored receivables
Business Acquisition [Line Items]
Revenue share asset, percent of expected cash payments to be received						15.00%
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Factored Receivable Disposal Group \| Factored receivables \| Minimum
Business Acquisition [Line Items]
Revenue share asset, percent of expected cash payments to be received					15.00%
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Factored Receivable Disposal Group \| Factored receivables \| Maximum
Business Acquisition [Line Items]
Revenue share asset, percent of expected cash payments to be received					20.00%

Acquisitions and Divestitures - Summary of Assets and Liabilities in Disposal Group, Factored Receivables (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations - Factored Receivable Disposal Group - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 06, 2022	Jun. 30, 2022
Disposal Group, Including Discontinued Operation, Assets [Abstract]
Assets sold	$ 88,036	$ 20,148	$ 67,888
Disposal Group, Including Discontinued Operation, Liabilities [Abstract]
Customer reserve noninterest bearing deposits	10,831	1,149	9,682
Liabilities held for sale	10,831	1,149	9,682
Net assets sold	77,205	18,999	58,206
Cash consideration	85,346	19,054	66,292
Revenue share asset	6,237	1,027	5,210
Total consideration	91,583	20,081	71,502
Transaction costs	131	49	82
Gain on sale, net of transaction costs	14,247	1,033	13,214
Factored receivables
Disposal Group, Including Discontinued Operation, Assets [Abstract]
Factored receivables	88,019	20,131	67,888
Accrued interest and fee income	$ 17	$ 17	$ 0

Acquisitions and Divestitures - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed, HubTran, Inc. (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 01, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 01, 2022	Dec. 31, 2021
Consideration:
Goodwill, measurement period adjustments		$ 0	$ (3,238)	$ (18)	$ (3,179)
Goodwill		$ 233,709		$ 233,709			$ 233,727
HubTran, Inc.
Assets acquired:
Cash	$ 170					$ 170
Other assets acquired, measurement period adjustments						24
Other assets	1,546					1,570
Assets acquired, measurement period adjustments						24
Asset acquired	29,008					29,032
Liabilities assumed:
Deferred income taxes, measurement period adjustments						(3,248)
Deferred income taxes	4,703					1,455
Other liabilities acquired, measurement period adjustments						16
Other liabilities	906					922
Liabilities acquired, measurement period adjustments						(3,232)
Liabilities assumed	5,609					2,377
Fair value of net assets acquire, measurement period adjustments						3,256
Fair value of net assets acquired	23,399					26,655
Consideration:
Payments to acquire businesses, gross	97,096
Goodwill, measurement period adjustments						(3,256)
Goodwill	73,697					70,441
HubTran, Inc. \| Capitalized Software
Assets acquired:
Intangible assets	16,932					16,932
HubTran, Inc. \| Customer Relationships
Assets acquired:
Intangible assets	$ 10,360					$ 10,360

Securities - Additional Information (Details)	3 Months Ended		9 Months Ended		12 Months Ended
Securities - Additional Information (Details)	Sep. 30, 2022 USD ($) security	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) security investment	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) investment
Debt and Equity Securities, FV-NI [Line Items]
Securities - equity investments with readily determinable fair values	$ 4,916,000		$ 4,916,000		$ 5,504,000
Accrued interest	1,764,000		1,764,000		$ 802,000
Debt securities, available-for-sale, accrued interest writeoff	$ 0	$ 0	$ 0	$ 0
Number of securities in an unrealized loss position \| security	140		140
Number of investments \| investment			3		3
Held-to-maturity securities classified as nonaccrual	$ 5,130,000		$ 5,130,000
Asset Pledged as Collateral
Debt and Equity Securities, FV-NI [Line Items]
Debt securities	96,198,000		96,198,000		$ 72,805,000
Mutual fund
Debt and Equity Securities, FV-NI [Line Items]
Securities - equity investments with readily determinable fair values	$ 4,916,000		$ 4,916,000		$ 5,504,000

Securities - Schedule of Gross Realized and Unrealized Gains (Losses) Recognized on Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Unrealized gains (losses) on equity securities held at the reporting date	$ (134)	$ (231)	$ (588)	$ (203)
Realized gains (losses) on equity securities sold during the period	0	0	0	0
Gross realized and unrealized gains (losses) recognized on equity securities	$ (134)	$ (231)	$ (588)	$ (203)

Securities - Equity Securities Without Readily Determinable Fair Values (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Equity Securities without readily determinable fair value, at cost	$ 38,846	$ 14,671
Upward adjustments based on observable price changes, cumulative	10,163	0
Equity Securities without readily determinable fair value, carrying value	$ 49,009	$ 14,671

Securities - Schedule of Gross Realized and Unrealized Gains (Losses) Recognized on Equity Securities Without Readily Determinable Fair Values (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Unrealized gains (losses) on equity securities still held at the reporting date	$ 0	$ 0	$ 10,163	$ 0
Realized gains (losses) on equity securities sold during the period	0	0	0	0
Equity securities without readily determinable fair value, upward price adjustment, annual amount	$ 0	$ 0	$ 10,163	$ 0

Securities - Schedule of Amortized Cost of Securities and Their Estimated Fair Values (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Available for sale securities:
Amortized Cost	$ 249,750		$ 178,064
Gross Unrealized Gains	73		4,573
Gross Unrealized Losses	(11,389)		(211)
Allowance for Credit Losses	0		0
Securities - available for sale	238,434		182,426
Held to maturity securities:
Fair Value	5,603		5,447
Allowance for credit losses	(2,430)	$ (2,355)	(2,082)	$ (1,737)	$ (1,727)	$ (2,026)
Total held to maturity securities, net of ACL	4,149		4,947
Mortgage-backed securities, residential
Available for sale securities:
Amortized Cost	49,962		36,885
Gross Unrealized Gains	0		720
Gross Unrealized Losses	(5,287)		(156)
Allowance for Credit Losses	0		0
Securities - available for sale	44,675		37,449
Asset-backed securities
Available for sale securities:
Amortized Cost	6,501		6,763
Gross Unrealized Gains	0		2
Gross Unrealized Losses	(25)		(1)
Allowance for Credit Losses	0		0
Securities - available for sale	6,476		6,764
State and municipal
Available for sale securities:
Amortized Cost	14,485		26,309
Gross Unrealized Gains	2		516
Gross Unrealized Losses	(225)		0
Allowance for Credit Losses	0		0
Securities - available for sale	14,262		26,825
CLO securities
Available for sale securities:
Amortized Cost	175,386		103,579
Gross Unrealized Gains	25		3,109
Gross Unrealized Losses	(5,703)		(54)
Allowance for Credit Losses	0		0
Securities - available for sale	169,708		106,634
Held to maturity securities:
Amortized Cost	6,579		7,029
Gross Unrealized Gains	455		0
Gross Unrecognized Losses	(1,431)		(1,582)
Fair Value	5,603		5,447
Allowance for credit losses	(2,430)		(2,082)
Total held to maturity securities, net of ACL	4,149		4,947
Corporate bonds
Available for sale securities:
Amortized Cost	1,270		1,992
Gross Unrealized Gains	1		64
Gross Unrealized Losses	(22)		0
Allowance for Credit Losses	0		0
Securities - available for sale	1,249		2,056
SBA pooled securities
Available for sale securities:
Amortized Cost	2,146		2,536
Gross Unrealized Gains	45		162
Gross Unrealized Losses	(127)		0
Allowance for Credit Losses	0		0
Securities - available for sale	$ 2,064		$ 2,698

Securities - Schedule of Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Available for Sale Securities, Amortized Cost
Due in one year or less, amortized cost	$ 1,527
Due from one year to five years, amortized cost	3,122
Due from five years to ten years, amortized cost	53,433
Due after ten years, amortized cost	133,059
Available for sale securities, with single maturity date, amortized cost	191,141
Amortized Cost	249,750	$ 178,064
Available for Sale Securities, Fair Value
Due in one year or less, fair value	1,525
Due from one year to five years, fair value	3,067
Due from five years to ten years, fair value	51,539
Due after ten years, fair value	129,088
Available for sale securities, with single maturity date, fair value	185,219
Securities available for sale	238,434	182,426
Held to Maturity Securities, Amortized Cost
Due in one year or less, amortized cost	0
Due from one year to five years, amortized cost	0
Due from five years to ten years, amortized cost	6,579
Due after ten years, amortized cost	0
Held to maturity securities, with single maturity date, amortized cost	6,579
Total held to maturity securities, net of ACL	6,579
Held to Maturity Securities, Fair Value
Due in one year or less, fair value	0
Due from one year to five years, fair value	0
Due from five years to ten years, fair value	5,603
Due after ten years, fair value	0
Held to maturity securities, with single maturity date, fair value	5,603
Fair Value	5,603	5,447
Mortgage-backed securities, residential
Available for Sale Securities, Amortized Cost
Available for sale securities, without single maturity date, amortized cost	49,962
Amortized Cost	49,962	36,885
Available for Sale Securities, Fair Value
Available for sale securities, without single maturity date, fair value	44,675
Securities available for sale	44,675	37,449
Held to Maturity Securities, Amortized Cost
Held to maturity securities, without single maturity date, amortized cost	0
Held to Maturity Securities, Fair Value
Held to maturity securities, without single maturity date, fair value	0
Asset-backed securities
Available for Sale Securities, Amortized Cost
Available for sale securities, without single maturity date, amortized cost	6,501
Amortized Cost	6,501	6,763
Available for Sale Securities, Fair Value
Available for sale securities, without single maturity date, fair value	6,476
Securities available for sale	6,476	6,764
Held to Maturity Securities, Amortized Cost
Held to maturity securities, without single maturity date, amortized cost	0
Held to Maturity Securities, Fair Value
Held to maturity securities, without single maturity date, fair value	0
SBA pooled securities
Available for Sale Securities, Amortized Cost
Available for sale securities, without single maturity date, amortized cost	2,146
Amortized Cost	2,146	2,536
Available for Sale Securities, Fair Value
Available for sale securities, without single maturity date, fair value	2,064
Securities available for sale	2,064	$ 2,698
Held to Maturity Securities, Amortized Cost
Held to maturity securities, without single maturity date, amortized cost	0
Held to Maturity Securities, Fair Value
Held to maturity securities, without single maturity date, fair value	$ 0

Securities - Schedule of Proceeds from Sales of Debt Securities and the Associated Gross Gains and Losses as well as Net Gains and Losses from Calls of Debt Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Proceeds	$ 0	$ 0	$ 40,163	$ 0
Gross gains	0	0	2,512	0
Gross losses	0	0	0	0
Net gains and losses from calls of securities	$ 0	$ 4	$ 2	$ 5

Securities - Schedule of Available for Sale Debt Securities in an Unrealized Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	$ 201,154	$ 43,160
Less than 12 months, unrealized losses	(10,801)	(209)
12 months or more, fair value	14,665	5,005
12 months or more, unrealized losses	(588)	(2)
Total, fair value	215,819	48,165
Total, unrealized losses	(11,389)	(211)
Mortgage-backed securities, residential
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	44,500	20,386
Less than 12 months, unrealized losses	(5,287)	(155)
12 months or more, fair value	3	6
12 months or more, unrealized losses	0	(1)
Total, fair value	44,503	20,392
Total, unrealized losses	(5,287)	(156)
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	1,479	37
Less than 12 months, unrealized losses	(21)	0
12 months or more, fair value	4,996	4,999
12 months or more, unrealized losses	(4)	(1)
Total, fair value	6,475	5,036
Total, unrealized losses	(25)	(1)
State and municipal
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	12,981	30
Less than 12 months, unrealized losses	(225)	0
12 months or more, fair value	0	0
12 months or more, unrealized losses	0	0
Total, fair value	12,981	30
Total, unrealized losses	(225)	0
CLO securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	140,066	22,707
Less than 12 months, unrealized losses	(5,119)	(54)
12 months or more, fair value	9,666	0
12 months or more, unrealized losses	(584)	0
Total, fair value	149,732	22,707
Total, unrealized losses	(5,703)	(54)
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	748	0
Less than 12 months, unrealized losses	(22)	0
12 months or more, fair value	0	0
12 months or more, unrealized losses	0	0
Total, fair value	748	0
Total, unrealized losses	(22)	0
SBA pooled securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, fair value	1,380	0
Less than 12 months, unrealized losses	(127)	0
12 months or more, fair value	0	0
12 months or more, unrealized losses	0	0
Total, fair value	1,380	0
Total, unrealized losses	$ (127)	$ 0

Securities - Summary of Activity in Allowance for Credit Losses for Held To Maturity Debt Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Allowance for credit losses:
Beginning balance	$ 2,355	$ 1,727	$ 2,082	$ 2,026
Credit loss expense	75	10	348	(289)
Allowance for credit losses ending balance	$ 2,430	$ 1,737	$ 2,430	$ 1,737

Loans and Allowance for Credit Losses - Schedule of Loans Held for Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for sale	$ 78	$ 7,330
1-4 family residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for sale	68	712
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for sale	$ 10	$ 6,618

Loans and Allowance for Credit Losses - Schedule of Amortized Cost and Unpaid Principal for Impaired Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortized Cost	$ 4,433,304	$ 4,867,572
Unpaid Principal	4,452,404	4,884,644
Difference	(19,100)	(17,072)
Allowance for credit losses	(44,111)	(42,213)
Loans, net	4,389,193	4,825,359
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortized Cost	669,742	632,775
Unpaid Principal	670,980	634,319
Difference	(1,238)	(1,544)
Construction, land development, land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortized Cost	75,527	123,464
Unpaid Principal	75,606	123,643
Difference	(79)	(179)
1-4 family residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortized Cost	122,594	123,115
Unpaid Principal	122,804	123,443
Difference	(210)	(328)
Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortized Cost	66,595	77,394
Unpaid Principal	66,838	77,905
Difference	(243)	(511)
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortized Cost	1,282,199	1,430,429
Unpaid Principal	1,295,015	1,440,542
Difference	(12,816)	(10,113)
Factored receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortized Cost	1,449,080	1,699,537
Unpaid Principal	1,453,591	1,703,936
Difference	(4,511)	(4,399)
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortized Cost	9,506	10,885
Unpaid Principal	9,509	10,883
Difference	(3)	2
Mortgage warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortized Cost	758,061	769,973
Unpaid Principal	758,061	769,973
Difference	$ 0	$ 0

Loans and Allowance for Credit Losses - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) loan	Sep. 30, 2021 USD ($) loan	Sep. 30, 2022 USD ($) loan	Sep. 30, 2021 USD ($) loan	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Premiums and discounts associated with acquired loans	$ 14,263,000		$ 14,263,000			$ 11,723,000
Net deferred origination and factoring fees	4,837,000		4,837,000			5,349,000
Accrued interest on loans	16,159,000		16,159,000			14,513,000
Gross loans	4,433,304,000		4,433,304,000			4,867,572,000
Pledged loans	1,416,089,000		1,416,089,000			1,733,917,000
ACL reduction from non-PCD-related charge-offs		$ 3,718,000		$ 4,067,000
Total Nonaccrual	20,828,000		20,828,000			15,034,000
Interest earned on nonaccrual loans	0	$ 0	0	$ 0
Recorded investments in troubled debt restructurings	2,611,000		2,611,000			4,677,000
Allowance for credit losses	$ 44,111,000		$ 44,111,000			42,213,000
Number of Loans \| loan	1	0	1	1
Number of defaults on modified loans \| loan			2	3
Recorded investments in troubled debt restructurings			$ 546,000	$ 1,681,000
Number of loans with payments in deferral \| loan	0		0
Troubled Debt Restructuring
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Nonaccrual	$ 2,034,000		$ 2,034,000			3,912,000
Allowance for credit losses	1,104,000		1,104,000			1,068,000
Past Due 90 Days or More
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	43,513,000		43,513,000			46,433,000
Loans Held for Investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net charge-offs	2,465,000		4,204,000
Credit loss expense	3,169,000	$ (959,000)	6,102,000	(9,390,000)
Allowance for credit losses	44,111,000	41,017,000	44,111,000	41,017,000	$ 43,407,000	42,213,000	$ 45,694,000	$ 95,739,000
Changes in Allowance for Credit Losses
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses due to increase (decrease) in loss drivers		(177,000)	1,487,000	(10,319,000)
Factored receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer reserves	249,729,000		249,729,000			254,970,000
Gross loans	1,449,080,000		1,449,080,000			1,699,537,000
Total Nonaccrual	0		0			0
Factored receivables \| Past Due 90 Days or More
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	38,969,000		38,969,000			39,134,000
Factored receivables \| Over-Formula Advances
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	8,785,000		8,785,000			10,077,000
Factored receivables \| Over-Formula Advances \| Past Due 90 Days or More
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Nonaccrual	8,785,000		8,785,000			10,077,000
Factored receivables \| Misdirected Payments Receivable \| United States Postal Service
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	19,361,000		19,361,000			19,361,000
Factored receivables \| Loans Held for Investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Credit loss expense	183,000	1,186,000	2,298,000	8,547,000
Allowance for credit losses	20,134,000	19,651,000	20,134,000	19,651,000	22,212,000	20,915,000	21,823,000	56,463,000
1-4 family residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	122,594,000		122,594,000			123,115,000
Total Nonaccrual	1,710,000		1,710,000			1,683,000
1-4 family residential \| Past Due 90 Days or More
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	819,000		819,000			1,114,000
1-4 family residential \| Loans Held for Investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Credit loss expense	(16,000)	(64,000)	268,000	(804,000)
Allowance for credit losses	742,000	$ 485,000	742,000	$ 485,000	$ 757,000	468,000	$ 545,000	$ 1,225,000
1-4 family residential \| Real Eatate Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential real estate loans in process of foreclosure	$ 129,000		$ 129,000			$ 301,000

Loans and Allowance for Credit Losses - Summary of Allowance for Loan and Lease Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance			$ 42,213
Ending Balance	$ 44,111		44,111
Loans Held for Investment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	43,407	$ 45,694	42,213	$ 95,739
Credit Loss Expense	3,169	(959)	6,102	(9,390)
Charge-offs	(2,747)	(3,965)	(5,466)	(46,449)
Recoveries	282	247	1,262	1,117
Ending Balance	44,111	41,017	44,111	41,017
Commercial real estate \| Loans Held for Investment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	5,167	4,404	3,961	10,182
Credit Loss Expense	(373)	(453)	881	(6,239)
Charge-offs	0	(17)	(108)	(17)
Recoveries	0	2	60	10
Ending Balance	4,794	3,936	4,794	3,936
Construction, land development, land \| Loans Held for Investment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	1,192	1,490	827	3,418
Credit Loss Expense	(198)	(434)	165	(2,352)
Charge-offs	0	0	0	(12)
Recoveries	1	1	3	3
Ending Balance	995	1,057	995	1,057
1-4 family residential \| Loans Held for Investment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	757	545	468	1,225
Credit Loss Expense	(16)	(64)	268	(804)
Charge-offs	0	(1)	0	(26)
Recoveries	1	5	6	90
Ending Balance	742	485	742	485
Farmland \| Loans Held for Investment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	490	669	562	832
Credit Loss Expense	(23)	(59)	(95)	(222)
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Ending Balance	467	610	467	610
Commercial \| Loans Held for Investment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	12,738	15,674	14,485	22,040
Credit Loss Expense	3,431	(1,187)	2,417	(7,936)
Charge-offs	(208)	(211)	(1,192)	(426)
Recoveries	59	0	310	598
Ending Balance	16,020	14,276	16,020	14,276
Factored receivables \| Loans Held for Investment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	22,212	21,823	20,915	56,463
Credit Loss Expense	183	1,186	2,298	8,547
Charge-offs	(2,433)	(3,597)	(3,853)	(45,683)
Recoveries	172	239	774	324
Ending Balance	20,134	19,651	20,134	19,651
Consumer \| Loans Held for Investment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	197	236	226	542
Credit Loss Expense	62	153	180	(99)
Charge-offs	(106)	(139)	(313)	(285)
Recoveries	49	0	109	92
Ending Balance	202	250	202	250
Mortgage warehouse \| Loans Held for Investment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	654	853	769	1,037
Credit Loss Expense	103	(101)	(12)	(285)
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Ending Balance	$ 757	$ 752	$ 757	$ 752

Loans and Allowance for Credit Losses - Summary of Amortized Cost Basis of Loans on Nonaccrual Status (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Nonaccrual	$ 20,828	$ 15,034
Nonaccrual With No ACL	5,837	10,034
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Nonaccrual	1,108	2,025
Nonaccrual With No ACL	541	1,375
Construction, land development, land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Nonaccrual	151	964
Nonaccrual With No ACL	151	964
1-4 family residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Nonaccrual	1,710	1,683
Nonaccrual With No ACL	1,604	1,582
Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Nonaccrual	414	2,044
Nonaccrual With No ACL	414	2,044
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Nonaccrual	17,291	8,078
Nonaccrual With No ACL	3,015	3,910
Factored receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Nonaccrual	0	0
Nonaccrual With No ACL	0	0
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Nonaccrual	154	240
Nonaccrual With No ACL	112	159
Mortgage warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Nonaccrual	0	0
Nonaccrual With No ACL	$ 0	$ 0

Loans and Allowance for Credit Losses - Summary of Accrued Interest on Non Accrual Loans Reversed Through Interest Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Accrued interest reversed through interest income	$ 1	$ 3	$ 7	$ 41
Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Accrued interest reversed through interest income	0	0	0	8
Construction, land development, land
Financing Receivable, Allowance for Credit Loss [Line Items]
Accrued interest reversed through interest income	0	0	2	0
1-4 family residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Accrued interest reversed through interest income	1	0	1	1
Farmland
Financing Receivable, Allowance for Credit Loss [Line Items]
Accrued interest reversed through interest income	0	0	0	6
Commercial
Financing Receivable, Allowance for Credit Loss [Line Items]
Accrued interest reversed through interest income	0	0	4	23
Factored receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Accrued interest reversed through interest income	0	0	0	0
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Accrued interest reversed through interest income	0	3	0	3
Mortgage warehouse
Financing Receivable, Allowance for Credit Loss [Line Items]
Accrued interest reversed through interest income	$ 0	$ 0	$ 0	$ 0

Loans and Allowance for Credit Losses - Schedule of Nonperforming Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual loans	$ 20,828	$ 15,034
Factored receivables greater than 90 days past due	39,017	39,268
Troubled Debt Restructuring
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual loans	2,034	3,912
Factored receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual loans	0	0
Factored receivables greater than 90 days past due	38,969	39,134
Nonperforming Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual loans	20,828	15,034
Other nonperforming factored receivables	4,331	1,428
Troubled debt restructurings accruing interest	577	765
Total loans	55,920	46,284
Nonperforming Loans \| Factored receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Factored receivables greater than 90 days past due	$ 30,184	$ 29,057

Loans and Allowance for Credit Losses - Schedule of Loans Modified as Troubled Debt Restructurings (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) loan	Sep. 30, 2021 loan	Sep. 30, 2022 USD ($) loan	Sep. 30, 2021 USD ($) loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Modifications	$ 45		$ 45	$ 741
Number of Loans \| loan	1	0	1	1
Extended Amortization Period
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Modifications	$ 45		$ 45	$ 0
Payment Deferrals
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Modifications	0		0	0
Protective Advances
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Modifications	0		0	741
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Modifications	$ 45		$ 45
Number of Loans \| loan	1		1
Commercial \| Extended Amortization Period
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Modifications	$ 45		$ 45
Commercial \| Payment Deferrals
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Modifications	0		0
Commercial \| Protective Advances
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Modifications	$ 0		$ 0
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Modifications				$ 741
Number of Loans \| loan				1
Commercial real estate \| Extended Amortization Period
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Modifications				$ 0
Commercial real estate \| Payment Deferrals
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Modifications
Commercial real estate \| Protective Advances
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Modifications				$ 741

Loans and Allowance for Credit Losses - Loan Modifications (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Receivables [Abstract]
Total modifications	$ 0	$ 0	$ 0	$ 10,459

Loans and Allowance for Credit Losses - Summary of Amortized Cost of Loans Currently in Deferral (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Sep. 30, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	$ 4,867,572	$ 4,433,304
Balance of Loans Currently in Deferral	$ 31,896
Percentage of Portfolio	0.70%
Accrued Interest Receivable	$ 124
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	632,775	669,742
Balance of Loans Currently in Deferral	$ 30,212
Percentage of Portfolio	4.80%
Accrued Interest Receivable	$ 116
Construction, land development, land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	123,464	75,527
Balance of Loans Currently in Deferral	$ 1,340
Percentage of Portfolio	1.10%
Accrued Interest Receivable	$ 5
1-4 family residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	123,115	122,594
Balance of Loans Currently in Deferral	$ 0
Percentage of Portfolio	0.00%
Accrued Interest Receivable	$ 0
Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	77,394	66,595
Balance of Loans Currently in Deferral	$ 338
Percentage of Portfolio	0.40%
Accrued Interest Receivable	$ 3
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,430,429	1,282,199
Balance of Loans Currently in Deferral	$ 0
Percentage of Portfolio	0.00%
Accrued Interest Receivable	$ 0
Factored receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,699,537	1,449,080
Balance of Loans Currently in Deferral	$ 0
Percentage of Portfolio	0.00%
Accrued Interest Receivable	$ 0
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	10,885	9,506
Balance of Loans Currently in Deferral	$ 6
Percentage of Portfolio	0.10%
Accrued Interest Receivable	$ 0
Mortgage warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	769,973	$ 758,061
Balance of Loans Currently in Deferral	$ 0
Percentage of Portfolio	0.00%
Accrued Interest Receivable	$ 0

Goodwill and Intangible Assets - Schedule of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 233,709	$ 233,727
Gross Carrying Amount	90,920	90,070
Accumulated Amortization	(56,025)	(46,941)
Net Carrying Amount	34,895	43,129
Core deposit intangibles
Goodwill And Intangible Assets [Line Items]
Gross Carrying Amount	43,578	43,578
Accumulated Amortization	(34,536)	(31,800)
Net Carrying Amount	9,042	11,778
Software intangible assets
Goodwill And Intangible Assets [Line Items]
Gross Carrying Amount	16,932	16,932
Accumulated Amortization	(5,644)	(2,469)
Net Carrying Amount	11,288	14,463
Other intangible assets
Goodwill And Intangible Assets [Line Items]
Gross Carrying Amount	30,410	29,560
Accumulated Amortization	(15,845)	(12,672)
Net Carrying Amount	$ 14,565	$ 16,888

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Goodwill and Intangible Assets - Schedule of Changes in Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Goodwill [Roll Forward]
Beginning balance	$ 270,666	$ 286,567	$ 276,856	$ 189,922
Acquired goodwill	0	0	0	73,697
Acquired intangible assets	851	0	851	27,292
Acquired goodwill - measurement period adjustment	0	(3,238)	(18)	(3,179)
Amortization of intangibles	(2,913)	(3,274)	(9,085)	(7,677)
Ending balance	$ 268,604	$ 280,055	$ 268,604	$ 280,055

Equity Method Investment - Additional Information (Details) $ in Thousands		3 Months Ended			9 Months Ended
	Jun. 10, 2022 USD ($) agreement	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Oct. 17, 2019 USD ($)
Schedule of Equity Method Investments [Line Items]
Equity securities without readily determinable fair value, upward price adjustment, annual amount		$ 0		$ 0	$ 10,163	$ 0
Warehouse Solutions Inc
Schedule of Equity Method Investments [Line Items]
Equity method investments and warrants								$ 8,366	$ 8,000
Equity method investment, ownership percentage									8.00%
Equity method investment, ownership percentage to be purchased through exercise of warrant									10.00%
Number of agreements with affiliate \| agreement	2
Equity method investment, loss on impairment of warrants			$ 3,224
Equity securities without readily determinable fair value, percentage of common stock agreed to purchase	10.00%
Payment to acquire interest in common stock	$ 23,000
Sale of stock, percentage of ownership after transaction	18.00%
Equity method investments, fair value disclosure							$ 4,925
Equity securities without readily determinable fair value, discontinuation of equity method, amount after adjustment			15,088
Equity securities without readily determinable fair value, upward price adjustment, annual amount			$ 10,163

Equity Method Investment (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Oct. 17, 2019
Schedule of Equity Method Investments [Line Items]
Total investment	$ 49,009	$ 14,671
Warehouse Solutions Inc
Schedule of Equity Method Investments [Line Items]
Total investment	$ 38,088
Common stock		5,142
Warrants		3,224
Total investment		$ 8,366	$ 8,000

Derivative Financial Instruments - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
	May 04, 2022	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification of amount of (gains) losses recognized into income		$ 0		$ (18)	$ 9,316	$ (70)
Discontinued Cash Flow Hedge \| Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Termination fee	$ 732
Discontinued Cash Flow Hedge \| Other Noninterest Income
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification of amount of (gains) losses recognized into income	$ 8,851
Discontinued Cash Flow Hedge \| Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Derivative Instruments, Gain (Loss) [Line Items]
Termination value		$ 0	$ 9,316	$ 0	9,316	$ 0
Interest rate swaps \| Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification of amount of (gains) losses recognized into income					$ 465
Other assets \| Interest rate swaps \| Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Notional Amount			$ 200,000				$ 200,000

Derivative Financial Instruments - Pre-Tax Impact of Terminated Cash Flow Hedge on AOCI (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
AOCI Attributable to Parent, Before Tax [Roll Forward]
Beginning balance	$ 874,281	$ 858,864	$ 792,388	$ 858,864	$ 726,781
Ending balance	891,173	886,665	820,674	891,173	820,674
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent \| Discontinued Cash Flow Hedge
AOCI Attributable to Parent, Before Tax [Roll Forward]
Beginning balance	0	0	0	0	0
Unrealized gains arising during the period	0	$ 9,316	0	9,316	0
Reclassification adjustments for amortization of unrealized (gains) into net income	0		0	(9,316)	0
Ending balance	$ 0		$ 0	$ 0	$ 0

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI https://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Derivative Financial Instruments - Schedule of Fair Value of Derivative Financial Instruments Classification on Balance Sheet (Details) - Derivatives designated as hedging instruments - Interest rate swaps - Other assets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Notional Amount	$ 200,000	$ 200,000
Fair Value Total		$ 6,164

Derivative Financial Instruments - Schedule of Effect of Fair Value and Cash Flow Hedge on Accumulated Other Comprehensive Income, Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivative	$ 0	$ 7	$ (4,705)	$ 2,386
Amount of (Gain) or Loss Reclassified from AOCI into Income	0	(14)	7,103	(53)
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivative	0	7	(4,705)	2,386
Interest rate swaps \| Interest Expense, Noninterest Income
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Gain) or Loss Reclassified from AOCI into Income	$ 0		$ (7,103)
Interest rate swaps \| Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Gain) or Loss Reclassified from AOCI into Income		$ 14		$ 53

Variable Interest Entities - Summary of Closed Collateralized Loan Obligation ("CLO") Funds (Details) - Collateralized Loan Obligation Funds - USD ($) $ in Thousands	Jun. 20, 2017	Sep. 22, 2016	Jun. 02, 2016
Trinitas IV
Variable Interest Entity [Line Items]
Offering Amount			$ 406,650
Trinitas V
Variable Interest Entity [Line Items]
Offering Amount		$ 409,000
Trinitas VI
Variable Interest Entity [Line Items]
Offering Amount	$ 717,100

Variable Interest Entities - Additional Information - (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Total held to maturity securities, net of ACL	$ 4,149	$ 4,947
Collateralized Loan Obligation Funds
Variable Interest Entity [Line Items]
Total held to maturity securities, net of ACL	$ 4,149	$ 4,947

Off-Balance Sheet Loan Commitments - Summary of Financial Instruments with Off-Balance Sheet Risk - (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Unused lines of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed Rate	$ 3,994	$ 26,029
Variable Rate	442,809	523,483
Total	446,803	549,512
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed Rate	13,711	11,090
Variable Rate	4,920	5,409
Total	18,631	16,499
Commitments to purchase loans
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed Rate	0	0
Variable Rate	79,030	108,423
Total	79,030	108,423
Mortgage warehouse commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed Rate	0	0
Variable Rate	851,939	823,060
Total	$ 851,939	$ 823,060

Off-Balance Sheet Loan Commitments - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Other Noninterest Expense
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Credit loss expense (benefit)	$ (598)	$ (238)	$ (402)	$ (1,159)
Other Liabilities
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Allowance for credit losses on off-balance sheet credit exposure	$ 3,680		$ 3,680		$ 4,082

Fair Value Disclosures - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 06, 2022	Jun. 30, 2022	Dec. 31, 2021
Factored receivables \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Factored Receivable Disposal Group
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Revenue share asset, percent of expected cash payments to be received			15.00%
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Indemnification asset, expected cash payments to be received	$ 4,393			$ 5,038
Indemnification asset, discount rate	5.00%			5.00%
Revenue share asset, expected cash payments to be received	$ 8,653
Level 3 \| Measurement Input Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Revenue share asset, discount rate	10.00%
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Selling and closing costs for loans as a percentage of appraised value	5.00%
Real estate selling and closing costs, percentage of appraised value	5.00%
Minimum \| Factored receivables \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Factored Receivable Disposal Group
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Revenue share asset, percent of expected cash payments to be received		15.00%
Minimum \| Measurement Input, Prepayment Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, prepayment rate			0.00%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Selling and closing costs for loans as a percentage of appraised value	8.00%
Real estate selling and closing costs, percentage of appraised value	8.00%
Maximum \| Factored receivables \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Factored Receivable Disposal Group
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Revenue share asset, percent of expected cash payments to be received		20.00%
Maximum \| Measurement Input, Prepayment Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, prepayment rate			11.00%

Fair Value Disclosures - Reconciliation of Opening Balance to Closing Balance of Fair Value of Contingent Consideration (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Indemnification Asset
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Decrease in fair value of financial instrument			$ 0	$ (35,633)
Level 3 \| Indemnification Asset
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 4,377	$ 5,246	4,786	36,225
Amount recognized in business combination	0	0	0	0
Change in fair value of financial instrument recognized in earnings	(204)	(460)	(613)	4,194
Decrease in fair value of financial instrument	0	0	0	(35,633)
Ending balance	4,173	4,786	4,173	4,786
Level 3 \| Revenue Share Asset
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	5,210		0
Amount recognized in business combination	1,027		6,237
Change in fair value of financial instrument recognized in earnings	171		171
Decrease in fair value of financial instrument	(230)		(230)
Ending balance	6,178		6,178
Level 3 \| Return of Premium Liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	708	0	0	0
Amount recognized in business combination	0	0	708	0
Change in fair value of financial instrument recognized in earnings	(104)	0	(104)	0
Decrease in fair value of financial instrument	(34)	0	(34)	0
Ending balance	$ 570	$ 0	$ 570	$ 0

Fair Value Disclosures - Estimated Fair Value of Company's Financial Assets and Financial Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Financial assets:
Cash and cash equivalents, carrying amount	$ 421,729	$ 383,178
FHLB and other restricted stock, carrying amount	6,213	10,146
Securities - held to maturity, fair value	5,603	5,447
Financial liabilities:
Customer repurchase agreements, carrying amount	13,463	2,103
Federal Home Loan Bank advances, carrying amount	30,000	180,000
Paycheck Protection Program Liquidity Facility	0	27,144
Subordinated notes, carrying amount	107,587	106,957
Junior subordinated debentures	41,016	40,602
Carrying Amount
Financial assets:
Cash and cash equivalents, carrying amount	421,729	383,178
Securities - held to maturity, carrying amount	4,149	4,947
Loans not previously presented carrying amount	4,388,592	4,834,426
FHLB and other restricted stock, carrying amount	6,213	10,146
Accrued interest receivable, carrying amount	18,214	15,319
Financial liabilities:
Deposits, including deposits held-for-sale, carrying amount	4,441,354	4,646,679
Customer repurchase agreements, carrying amount	13,463	2,103
Federal Home Loan Bank advances, carrying amount	30,000	180,000
Paycheck Protection Program Liquidity Facility		27,144
Subordinated notes, carrying amount	107,587	106,957
Junior subordinated debentures	41,016	40,602
Accrued interest payable, carrying amount	2,538	1,951
Total Fair Value
Financial assets:
Cash and cash equivalents, fair value	421,729	383,178
Securities - held to maturity, fair value	5,603	5,447
Loans not previously presented, fair value	4,309,856	4,828,020
Accrued interest receivable, fair value	18,214	15,319
Financial liabilities:
Deposits, fair value	4,429,225	4,646,552
Customer repurchase agreements, fair value	13,463	2,103
Federal Home Loan Bank advances, fair value	30,000	180,000
Paycheck Protection Program Liquidity Facility, fair value		27,144
Subordinated notes, fair value	106,327	110,045
Junior subordinated debentures, fair value	42,847	41,286
Accrued interest payable, fair value	2,538	1,951
Level 1
Financial assets:
Cash and cash equivalents, fair value	421,729	383,178
Securities - held to maturity, fair value	0	0
Loans not previously presented, fair value	228,971	142,962
Accrued interest receivable, fair value	18,214	15,319
Financial liabilities:
Deposits, fair value	0	0
Customer repurchase agreements, fair value	0	0
Federal Home Loan Bank advances, fair value	0	0
Paycheck Protection Program Liquidity Facility, fair value		0
Subordinated notes, fair value	0	0
Junior subordinated debentures, fair value	0	0
Accrued interest payable, fair value	2,538	1,951
Level 2
Financial assets:
Cash and cash equivalents, fair value	0	0
Securities - held to maturity, fair value	0	0
Loans not previously presented, fair value	0	0
Accrued interest receivable, fair value	0	0
Financial liabilities:
Deposits, fair value	4,429,225	4,646,552
Customer repurchase agreements, fair value	13,463	2,103
Federal Home Loan Bank advances, fair value	30,000	180,000
Paycheck Protection Program Liquidity Facility, fair value		27,144
Subordinated notes, fair value	106,327	110,045
Junior subordinated debentures, fair value	42,847	41,286
Accrued interest payable, fair value	0	0
Level 3
Financial assets:
Cash and cash equivalents, fair value	0	0
Securities - held to maturity, fair value	5,603	5,447
Loans not previously presented, fair value	4,080,885	4,685,058
Accrued interest receivable, fair value	0	0
Financial liabilities:
Deposits, fair value	0	0
Customer repurchase agreements, fair value	0	0
Federal Home Loan Bank advances, fair value	0	0
Paycheck Protection Program Liquidity Facility, fair value		0
Subordinated notes, fair value	0	0
Junior subordinated debentures, fair value	0	0
Accrued interest payable, fair value	$ 0	$ 0

Regulatory Matters - Schedule of Actual Capital Amounts and Ratios (Details) $ in Thousands	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Triumph Bancorp, Inc.
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital (to Risk Weighted Assets) Actual Amount	$ 831,228	$ 769,475
Total Capital (to Risk Weighted Assets) Actual Ratio	0.166	0.141
Total Capital (to Risk Weighted Assets) Minimum for Capital Adequacy Purposes Amount	$ 400,592	$ 436,582
Total Capital (to Risk Weighted Assets) Minimum for Capital Adequacy Purposes Ratio	0.080	0.080
Tier 1 Capital (to Risk Weighted Assets) Actual Amount	$ 685,113	$ 628,094
Tier 1 Capital (to Risk Weighted Assets) Actual Ratio	0.136	0.115
Tier 1 Capital (to Risk Weighted Assets) Minimum for Capital Adequacy Purposes Amount	$ 302,256	$ 327,701
Tier 1 Capital (to Risk Weighted Assets) Minimum for Capital Adequacy Purposes Ratio	0.060	0.060
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Amount	$ 599,097	$ 542,492
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Ratio	0.119	0.099
Common Equity Tier 1 Capital (to Risk Weighted Assets) Minimum for Capital Adequacy Purposes Amount	$ 226,549	$ 246,587
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Capital Adequacy, Minimum	0.045	0.045
Tier 1 Capital (to Average Assets) Actual Amount	$ 685,113	$ 628,094
Tier 1 Capital (to Average Assets) Actual Ratio	0.126	0.111
Tier 1 Capital (to Average Assets) Minimum for Capital Adequacy Purposes Amount	$ 217,496	$ 226,340
Tier 1 Capital (to Average Assets) Minimum for Capital Adequacy Purposes Ratio	0.040	0.040
TBK Bank, SSB
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital (to Risk Weighted Assets) Actual Amount	$ 781,506	$ 698,286
Total Capital (to Risk Weighted Assets) Actual Ratio	0.157	0.129
Total Capital (to Risk Weighted Assets) Minimum for Capital Adequacy Purposes Amount	$ 398,220	$ 433,046
Total Capital (to Risk Weighted Assets) Minimum for Capital Adequacy Purposes Ratio	0.080	0.080
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 497,775	$ 541,307
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.100	0.100
Tier 1 Capital (to Risk Weighted Assets) Actual Amount	$ 744,948	$ 665,336
Tier 1 Capital (to Risk Weighted Assets) Actual Ratio	0.150	0.123
Tier 1 Capital (to Risk Weighted Assets) Minimum for Capital Adequacy Purposes Amount	$ 297,979	$ 324,554
Tier 1 Capital (to Risk Weighted Assets) Minimum for Capital Adequacy Purposes Ratio	0.060	0.060
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 397,306	$ 432,739
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.080	0.080
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Amount	$ 744,948	$ 665,336
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Ratio	0.150	0.123
Common Equity Tier 1 Capital (to Risk Weighted Assets) Minimum for Capital Adequacy Purposes Amount	$ 223,484	$ 243,416
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Capital Adequacy, Minimum	0.045	0.045
Common Equity Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 322,811	$ 351,600
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Well Capitalized, Minimum	0.065	0.065
Tier 1 Capital (to Average Assets) Actual Amount	$ 744,948	$ 665,336
Tier 1 Capital (to Average Assets) Actual Ratio	0.137	0.118
Tier 1 Capital (to Average Assets) Minimum for Capital Adequacy Purposes Amount	$ 217,503	$ 225,538
Tier 1 Capital (to Average Assets) Minimum for Capital Adequacy Purposes Ratio	0.040	0.040
Tier 1 Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 271,879	$ 281,922
Tier 1 Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.050	0.050

Stockholders' Equity - Summary of Capital Structure (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Shares authorized (in shares)	50,000,000	50,000,000
Shares issued (in shares)	28,321,716	28,261,680
Treasury shares (in shares)	(3,843,428)	(3,102,801)
Shares outstanding (in shares)	24,478,288	25,158,879
Par value per share (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock Series C
Class of Stock [Line Items]
Shares authorized (in shares)	51,750	51,750
Shares issued (in shares)	45,000	45,000
Shares outstanding (in shares)	45,000	45,000
Par value per share (in dollars per shares)	$ 0.01	$ 0.01
Liquidation preference per share (in dollars per shares)	$ 1,000	$ 1,000
Liquidation preference amount	$ 45,000,000	$ 45,000,000
Dividend rate	7.125%	7.125%

Stockholders' Equity - Stock Repurchase Programs (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	May 23, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Feb. 07, 2022
Class of Stock [Line Items]
Total cost of shares repurchased into treasury stock				$ 51,943	$ 1,241
Stock Repurchase Program
Class of Stock [Line Items]
Amount authorized under stock repurchase program	$ 75,000					$ 50,000
Stock repurchase program, period in force	1 year
Shares repurchased into treasury stock (in shares)		0	0	709,795	0
Average price of shares repurchased into treasury stock (in dollars per share)		$ 0	$ 0	$ 70.41	$ 0
Total cost of shares repurchased into treasury stock		$ 0	$ 0	$ 50,000	$ 0

Stock Based Compensation - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Apr. 01, 2019	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation		$ 4,296	$ 4,445	$ 17,128	$ 9,181
Shares issued under ESPP during period (in shares)				24,516	0
2014 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares approved for issuance (in shares)		2,450,000		2,450,000
2014 Omnibus Incentive Plan \| Restricted Stock Awards (RSAs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost		$ 7,552		$ 7,552
Remaining period to recognize cost				2 years 6 months 7 days
2014 Omnibus Incentive Plan \| Restricted Stock Awards (RSAs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation, award vesting period				4 years
2014 Omnibus Incentive Plan \| Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost		7,688		$ 7,688
Remaining period to recognize cost				3 years 2 months 8 days
2014 Omnibus Incentive Plan \| Restricted stock units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation, award vesting period				4 years
2014 Omnibus Incentive Plan \| Restricted stock units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation, award vesting period				5 years
2014 Omnibus Incentive Plan \| Performance stock units - market based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost		3,343		$ 3,343
Remaining period to recognize cost				2 years 2 months 15 days
2014 Omnibus Incentive Plan \| Performance stock units - market based \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation, award vesting period				3 years
Stock based compensation, award vesting percentage				0.00%
2014 Omnibus Incentive Plan \| Performance stock units - market based \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation, award vesting period				5 years
Stock based compensation, award vesting percentage				175.00%
2014 Omnibus Incentive Plan \| Performance Based Performance Stock Units (Performance Based PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation			$ 0		$ 0
Stock based compensation, award vesting period				3 years
Remaining period to recognize cost				3 months
Stock based compensation expense recognized		298		$ 5,433
2014 Omnibus Incentive Plan \| Performance Based Performance Stock Units (Performance Based PSUs) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation, award vesting percentage				0.00%
2014 Omnibus Incentive Plan \| Performance Based Performance Stock Units (Performance Based PSUs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation, award vesting percentage				200.00%
Total unrecognized compensation cost		7,424		$ 7,424
2014 Omnibus Incentive Plan \| Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation, award vesting period				4 years
Remaining period to recognize cost				3 years 3 months 10 days
Total unrecognized compensation cost		$ 1,059		$ 1,059
Employees stock options contractual terms				10 years
2019 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)	2,500,000
Purchase price of common stock, percentage	85.00%

Stock Based Compensation - Summary of Changes in Company's Nonvested Restricted Stock Awards (Details) - Restricted Stock Awards (RSAs)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Shares
Nonvested Shares, Beginning balance (in shares) \| shares	363,404
Nonvested Shares, Granted (in shares) \| shares	12,471
Nonvested Shares, Vested (in shares) \| shares	(126,203)
Nonvested Shares, Forfeited (in shares) \| shares	(3,098)
Nonvested Shares, Ending balance (in shares) \| shares	246,574
Weighted-Average Grant-Date Fair Value
Weighted-Average Grant-Date Fair Value, Nonvested, Beginning balance (in dollars per share) \| $ / shares	$ 67.56
Weighted-Average Grant-Date Fair Value, Nonvested, Granted (in dollars per share) \| $ / shares	74.42
Weighted-Average Grant-Date Fair Value, Nonvested, Vested (in dollars per share) \| $ / shares	61.74
Weighted-Average Grant-Date Fair Value, Nonvested, Forfeited (in dollars per share) \| $ / shares	45.60
Weighted-Average Grant-Date Fair Value, Nonvested, Ending balance (in dollars per share) \| $ / shares	$ 71.17

Stock Based Compensation - Summary of Changes in Company's Nonvested Restricted Stock Units (Details) - Restricted stock units	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Shares
Nonvested Shares, Beginning balance (in shares) \| shares	122,470
Nonvested Shares, Granted (in shares) \| shares	91,849
Nonvested Shares, Vested (in shares) \| shares	0
Nonvested Shares, Forfeited (in shares) \| shares	(967)
Nonvested Shares, Ending balance (in shares) \| shares	213,352
Weighted-Average Grant-Date Fair Value
Weighted-Average Grant-Date Fair Value, Nonvested, Beginning balance (in dollars per share) \| $ / shares	$ 52.07
Weighted-Average Grant-Date Fair Value, Nonvested, Granted (in dollars per share) \| $ / shares	69.44
Weighted-Average Grant-Date Fair Value, Nonvested, Vested (in dollars per share) \| $ / shares	0
Weighted-Average Grant-Date Fair Value, Nonvested, Forfeited (in dollars per share) \| $ / shares	52.46
Weighted-Average Grant-Date Fair Value, Nonvested, Ending balance (in dollars per share) \| $ / shares	$ 59.55

Stock Based Compensation - Summary of Changes in Company's Nonvested Market Based Performance Stock Units (Details) - Performance stock units - market based	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Shares
Nonvested Shares, Beginning balance (in shares)	94,984
Nonvested Shares, Granted (in shares)	33,276
Nonvested Shares, Incremental shares earned (in shares)	8,997
Nonvested Shares, Vested (in shares)	(20,996)
Nonvested Shares, Forfeited (in shares)	(535)
Nonvested Shares, Ending balance (in shares)	115,726
Weighted-Average Grant-Date Fair Value
Weighted-Average Grant-Date Fair Value, Nonvested, Beginning balance (in dollars per share) \| $ / shares	$ 43.68
Weighted-Average Grant-Date Fair Value, Nonvested, Granted (in dollars per share) \| $ / shares	84.22
Weighted-Average Grant-Date Fair Value, Nonvested, Vested (in dollars per share) \| $ / shares	33.91
Weighted-Average Grant-Date Fair Value, Nonvested, Forfeited (in dollars per share) \| $ / shares	38.57
Weighted-Average Grant-Date Fair Value, Nonvested, Ending balance (in dollars per share) \| $ / shares	$ 56.38

Stock Based Compensation - Market Based PSUs Weighted-Average Assumptions (Details) - Performance stock units - market based - $ / shares	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	3 years	3 years
Stock price (in dollars per share)	$ 69.44	$ 88.63
Triumph stock price volatility	55.17%	51.71%
Risk-free rate	2.84%	0.35%

Stock Based Compensation - Summary of Changes in Company's Nonvested Performance Based Performance Stock Units (Details) - Performance Based Performance Stock Units (Performance Based PSUs)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Shares
Nonvested Shares, Beginning balance (in shares) \| shares	259,383
Nonvested Shares, Granted (in shares) \| shares	3,000
Nonvested Shares, Vested (in shares) \| shares	0
Nonvested Shares, Forfeited (in shares) \| shares	(6,349)
Nonvested Shares, Ending balance (in shares) \| shares	256,034
Weighted-Average Grant-Date Fair Value
Weighted-Average Grant-Date Fair Value, Nonvested, Beginning balance (in dollars per share) \| $ / shares	$ 39.32
Weighted-Average Grant-Date Fair Value, Nonvested, Granted (in dollars per share) \| $ / shares	69.44
Weighted-Average Grant-Date Fair Value, Nonvested, Vested (in dollars per share) \| $ / shares	0
Weighted-Average Grant-Date Fair Value, Nonvested, Forfeited (in dollars per share) \| $ / shares	43.26
Weighted-Average Grant-Date Fair Value, Nonvested, Ending balance (in dollars per share) \| $ / shares	$ 39.57

Stock Based Compensation - Summary of Changes in Company's Stock Options (Details) - Stock options $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares
Shares
Stock Options, Beginning Balance (in shares) \| shares	166,755
Stock Options, Granted (in shares) \| shares	35,939
Stock Options, Exercised (in shares) \| shares	(3,797)
Stock Options, Forfeited or expired (in shares) \| shares	0
Stock Options, Ending Balance (in shares) \| shares	198,897
Stock Options, Fully vested shares and shares expected (in shares) \| shares	198,897
Stock Options, Shares exercisable (in shares) \| shares	128,958
Weighted-Average Exercise Price
Weighted-Average Exercise Price, Beginning Balance (in dollars per share) \| $ / shares	$ 33.34
Weighted-Average Exercise Price, Granted (in dollars per share) \| $ / shares	69.44
Weighted-Average Exercise Price, Exercised (in dollars per share) \| $ / shares	26.12
Weighted-Average Exercise Price, Forfeited or expired (in dollars per share) \| $ / shares	0
Weighted-Average Exercise Price, Ending Balance (in dollars per share) \| $ / shares	40.00
Weighted-Average Exercise Price, Fully vested shares and shares expected to vest (in dollars per share) \| $ / shares	40.00
Weighted-Average Exercise Price, Shares exercisable (in dollars per share) \| $ / shares	$ 29.10
Weighted-Average Remaining Contractual Term (In Years)
Weighted-Average Remaining Contractual Term, Outstanding	6 years 4 months 28 days
Weighted-Average Remaining Contractual Term, Fully vested shares and shares expected to vest	6 years 4 months 28 days
Weighted-Average Remaining Contractual Term, Shares exercisable	5 years 1 month 24 days
Aggregate Intrinsic Value (In Thousands)
Aggregate Intrinsic Value, Outstanding \| $	$ 3,976
Aggregate Intrinsic Value, Fully vested shares and shares expected to vest \| $	3,976
Aggregate Intrinsic Value, Shares exercisable \| $	$ 3,401

Stock Based Compensation - Schedule of Information Related to Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash received from option exercises, net	$ (74)
Cash received from option exercises, net		$ 196
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of options exercised	280	2,249
Cash received from option exercises, net	(74)
Cash received from option exercises, net		196
Tax benefit realized from option exercises	$ 59	$ 472
Weighted average fair value per share of options granted (in dollars per share)	$ 32.15	$ 35.37

Stock Based Compensation - Stock Option Weighted-Average Assumptions (Details) - Stock options	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	2.77%	1.16%
Expected term	6 years 3 months	6 years 3 months
Expected stock price volatility	43.33%	39.26%
Dividend yield	0.00%	0.00%

Earnings Per Share - Factors Used in Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Basic
Net income to common stockholders	$ 15,428	$ 23,627	$ 82,346	$ 83,929
Weighted average common shares outstanding (in shares)	24,227,020	24,759,419	24,483,054	24,719,861
Basic earnings per common share (in dollars per share)	$ 0.64	$ 0.95	$ 3.36	$ 3.40
Diluted
Net income to common stockholders	$ 15,428	$ 23,627	$ 82,346	$ 83,929
Weighted average common shares outstanding (in shares)	24,227,020	24,759,419	24,483,054	24,719,861
Dilutive effects of:
Average shares and dilutive potential common shares (in shares)	24,979,257	25,227,963	25,072,862	25,199,991
Diluted earnings per common share (in dollars per share)	$ 0.62	$ 0.94	$ 3.28	$ 3.33
Stock options
Dilutive effects of:
Stock based compensation (in shares)	85,239	121,110	95,252	129,149
Restricted stock awards
Dilutive effects of:
Stock based compensation (in shares)	122,723	141,204	162,883	146,172
Restricted stock units
Dilutive effects of:
Stock based compensation (in shares)	97,512	74,268	96,174	71,620
Performance stock units - market based
Dilutive effects of:
Stock based compensation (in shares)	117,358	131,346	124,249	131,275
Performance stock units - performance based
Dilutive effects of:
Stock based compensation (in shares)	327,016	0	109,005	0
Employee stock purchase program
Dilutive effects of:
Stock based compensation (in shares)	2,389	616	2,245	1,914

Earnings Per Share - Schedule of Shares not Considered in Computing Diluted Earnings per Common Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	52,878	16,939	52,878	16,939
Restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	6,348	0	6,348	195,640
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	15,000	0	15,000	17,757
Performance stock units - market based
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	45,296	12,020	45,296	12,020
Performance stock units - performance based
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	0	259,383	0	259,383
Employee stock purchase program
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	0	0	0	0

Revenue From Contracts With Customers (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Payments Segment
Disaggregation of Revenue [Line Items]
Transactional payment and audit fees	$ 3,545	$ 3,095	$ 10,156	$ 4,251

Business Segment Information - (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total interest income	$ 103,225	$ 96,735	$ 312,967	$ 279,776
Intersegment interest allocations	0	0	0	0
Total interest expense	4,955	4,964	13,190	14,703
Net interest income (expense)	98,270	91,771	299,777	265,073
Credit loss expense (benefit)	2,646	(1,187)	6,048	(10,838)
Net interest income after credit loss expense (benefit)	95,624	92,958	293,729	275,911
Noninterest income	12,668	12,055	71,949	40,242
Noninterest expense	86,689	72,813	253,860	204,503
Net income (loss) before income tax expense	21,603	32,200	111,818	111,650
Total assets	5,642,450		5,642,450		$ 5,956,250
Gross loans	4,433,304		4,433,304		4,867,572
Operating Segments \| Banking
Segment Reporting Information [Line Items]
Total interest income	49,864	46,175	138,286	144,087
Total interest expense	2,924	2,073	7,547	8,225
Net interest income (expense)	49,546	46,554	137,390	143,979
Credit loss expense (benefit)	2,388	(2,399)	2,638	(19,187)
Net interest income after credit loss expense (benefit)	47,158	48,953	134,752	163,166
Noninterest income	6,189	7,371	34,496	25,139
Noninterest expense	48,648	41,183	138,741	122,497
Net income (loss) before income tax expense	4,699	15,141	30,507	65,808
Total assets	5,162,380		5,162,380		5,568,826
Gross loans	3,849,962		3,849,962		4,444,136
Operating Segments \| Factoring
Segment Reporting Information [Line Items]
Total interest income	49,561	47,222	161,789	127,699
Total interest expense	0	0	0	0
Net interest income (expense)	47,103	44,881	155,477	119,999
Credit loss expense (benefit)	(52)	1,164	1,961	8,091
Net interest income after credit loss expense (benefit)	47,155	43,717	153,516	111,908
Noninterest income	2,941	1,557	20,333	10,710
Noninterest expense	22,896	19,106	66,408	52,433
Net income (loss) before income tax expense	27,200	26,168	107,441	70,185
Total assets	1,406,367		1,406,367		1,679,495
Gross loans	1,330,122		1,330,122		1,546,361
Operating Segments \| Payments
Segment Reporting Information [Line Items]
Total interest income	3,756	3,295	12,760	7,939
Total interest expense	0	0	0	0
Net interest income (expense)	3,608	3,184	12,421	7,522
Credit loss expense (benefit)	235	38	405	548
Net interest income after credit loss expense (benefit)	3,373	3,146	12,016	6,974
Noninterest income	3,518	3,086	17,069	4,242
Noninterest expense	14,066	11,416	46,062	26,393
Net income (loss) before income tax expense	(7,175)	(5,184)	(16,977)	(15,177)
Total assets	354,179		354,179		293,212
Gross loans	118,958		118,958		153,176
Operating Segments \| Corporate
Segment Reporting Information [Line Items]
Total interest income	44	43	132	51
Total interest expense	2,031	2,891	5,643	6,478
Net interest income (expense)	(1,987)	(2,848)	(5,511)	(6,427)
Credit loss expense (benefit)	75	10	1,044	(290)
Net interest income after credit loss expense (benefit)	(2,062)	(2,858)	(6,555)	(6,137)
Noninterest income	20	41	51	151
Noninterest expense	1,079	1,108	2,649	3,180
Net income (loss) before income tax expense	(3,121)	(3,925)	(9,153)	(9,166)
Total assets	1,041,293		1,041,293		1,009,998
Gross loans	0		0		700
Eliminations
Segment Reporting Information [Line Items]
Total assets	(2,321,769)		(2,321,769)		(2,595,281)
Gross loans	(865,738)		(865,738)		$ (1,276,801)
Eliminations \| Banking
Segment Reporting Information [Line Items]
Intersegment interest allocations	2,606	2,452	6,651	8,117
Eliminations \| Factoring
Segment Reporting Information [Line Items]
Intersegment interest allocations	(2,458)	(2,341)	(6,312)	(7,700)
Eliminations \| Payments
Segment Reporting Information [Line Items]
Intersegment interest allocations	(148)	(111)	(339)	(417)
Eliminations \| Corporate
Segment Reporting Information [Line Items]
Intersegment interest allocations	$ 0	$ 0	$ 0	$ 0

Loans and Allowance for Credit Losses - Summary of Amortized Cost Basis of Collateral Dependent Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
ACL Allocation	$ 44,111	$ 42,213
Collateral dependent loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	69,306	59,001
ACL Allocation	17,730	14,716
Collateral dependent loans \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	3,458	6,770
Collateral dependent loans \| Accounts Receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	47,628	42,863
Collateral dependent loans \| Equipment
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	3,368	5,724
Collateral dependent loans \| Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	14,852	3,644
Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	1,382	2,298
ACL Allocation	283	283
Commercial real estate \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	1,240	2,143
Commercial real estate \| Accounts Receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
Commercial real estate \| Equipment
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
Commercial real estate \| Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	142	155
Construction, land development, land
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	151	987
ACL Allocation	0	0
Construction, land development, land \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	151	987
Construction, land development, land \| Accounts Receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
Construction, land development, land \| Equipment
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
Construction, land development, land \| Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
1-4 family residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	1,710	1,699
ACL Allocation	80	39
1-4 family residential \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	1,663	1,583
1-4 family residential \| Accounts Receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
1-4 family residential \| Equipment
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
1-4 family residential \| Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	47	116
Farmland
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	414	2,045
ACL Allocation	0	0
Farmland \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	196	1,803
Farmland \| Accounts Receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
Farmland \| Equipment
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	112	126
Farmland \| Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	106	116
Commercial
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	17,867	8,869
ACL Allocation	4,330	1,733
Commercial \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	208	254
Commercial \| Accounts Receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
Commercial \| Equipment
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	3,256	5,598
Commercial \| Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	14,403	3,017
Factored receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	47,628	42,863
ACL Allocation	13,024	12,640
Factored receivables \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
Factored receivables \| Accounts Receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	47,628	42,863
Factored receivables \| Equipment
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
Factored receivables \| Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	154	240
ACL Allocation	13	21
Consumer \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
Consumer \| Accounts Receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
Consumer \| Equipment
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
Consumer \| Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	154	240
Mortgage warehouse
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
ACL Allocation	0	0
Mortgage warehouse \| Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
Mortgage warehouse \| Accounts Receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
Mortgage warehouse \| Equipment
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	0	0
Mortgage warehouse \| Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Amortized cost	$ 0	$ 0

Loans and Allowance for Credit Losses - Summary of Analysis Performed Risk category Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	$ 2,793,701	$ 3,242,129
Financing receivable, year two, originated, fiscal year before current fiscal year	448,604	678,397
Financing receivable, year three, originated, two years before current fiscal year	438,829	155,798
Financing receivable, year four, originated, three years before current fiscal year	85,925	84,594
Financing receivable, year five, originated, four years before current fiscal year	37,933	85,116
Prior	102,041	91,906
Revolving Loans	525,476	529,024
Revolving Loans Converted To Term Loans	795	608
Amortized Cost	4,433,304	4,867,572
Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	2,758,490	3,216,480
Financing receivable, year two, originated, fiscal year before current fiscal year	436,711	646,539
Financing receivable, year three, originated, two years before current fiscal year	412,806	150,023
Financing receivable, year four, originated, three years before current fiscal year	83,574	83,685
Financing receivable, year five, originated, four years before current fiscal year	37,820	84,733
Prior	99,364	89,813
Revolving Loans	517,170	528,359
Revolving Loans Converted To Term Loans	795	608
Amortized Cost	4,346,730	4,800,240
Classified
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	35,211	25,649
Financing receivable, year two, originated, fiscal year before current fiscal year	11,893	31,858
Financing receivable, year three, originated, two years before current fiscal year	26,023	5,775
Financing receivable, year four, originated, three years before current fiscal year	2,351	909
Financing receivable, year five, originated, four years before current fiscal year	113	383
Prior	2,677	2,093
Revolving Loans	8,306	665
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	86,574	67,332
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	212,613	213,967
Financing receivable, year two, originated, fiscal year before current fiscal year	162,920	253,010
Financing receivable, year three, originated, two years before current fiscal year	203,539	50,264
Financing receivable, year four, originated, three years before current fiscal year	27,521	25,930
Financing receivable, year five, originated, four years before current fiscal year	18,640	47,463
Prior	40,067	37,290
Revolving Loans	4,442	4,851
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	669,742	632,775
Commercial real estate \| Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	209,979	211,088
Financing receivable, year two, originated, fiscal year before current fiscal year	162,141	249,652
Financing receivable, year three, originated, two years before current fiscal year	201,656	50,223
Financing receivable, year four, originated, three years before current fiscal year	27,482	25,930
Financing receivable, year five, originated, four years before current fiscal year	18,640	47,447
Prior	38,969	37,290
Revolving Loans	4,442	4,595
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	663,309	626,225
Commercial real estate \| Classified
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	2,634	2,879
Financing receivable, year two, originated, fiscal year before current fiscal year	779	3,358
Financing receivable, year three, originated, two years before current fiscal year	1,883	41
Financing receivable, year four, originated, three years before current fiscal year	39	0
Financing receivable, year five, originated, four years before current fiscal year	0	16
Prior	1,098	0
Revolving Loans	0	256
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	6,433	6,550
Construction, land development, land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	46,466	58,914
Financing receivable, year two, originated, fiscal year before current fiscal year	16,185	33,764
Financing receivable, year three, originated, two years before current fiscal year	7,121	4,744
Financing receivable, year four, originated, three years before current fiscal year	4,368	23,696
Financing receivable, year five, originated, four years before current fiscal year	654	1,199
Prior	723	1,139
Revolving Loans	10	8
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	75,527	123,464
Construction, land development, land \| Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	46,466	56,764
Financing receivable, year two, originated, fiscal year before current fiscal year	16,185	33,756
Financing receivable, year three, originated, two years before current fiscal year	7,115	4,744
Financing receivable, year four, originated, three years before current fiscal year	4,368	23,696
Financing receivable, year five, originated, four years before current fiscal year	654	1,199
Prior	578	994
Revolving Loans	10	8
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	75,376	121,161
Construction, land development, land \| Classified
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	0	2,150
Financing receivable, year two, originated, fiscal year before current fiscal year	0	8
Financing receivable, year three, originated, two years before current fiscal year	6	0
Financing receivable, year four, originated, three years before current fiscal year	0	0
Financing receivable, year five, originated, four years before current fiscal year	0	0
Prior	145	145
Revolving Loans	0	0
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	151	2,303
1-4 family residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	19,087	27,113
Financing receivable, year two, originated, fiscal year before current fiscal year	23,509	15,428
Financing receivable, year three, originated, two years before current fiscal year	11,606	9,538
Financing receivable, year four, originated, three years before current fiscal year	3,098	6,532
Financing receivable, year five, originated, four years before current fiscal year	3,790	8,655
Prior	23,126	23,240
Revolving Loans	38,070	32,291
Revolving Loans Converted To Term Loans	308	318
Amortized Cost	122,594	123,115
1-4 family residential \| Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	19,058	26,840
Financing receivable, year two, originated, fiscal year before current fiscal year	23,089	15,195
Financing receivable, year three, originated, two years before current fiscal year	11,450	9,485
Financing receivable, year four, originated, three years before current fiscal year	3,046	6,526
Financing receivable, year five, originated, four years before current fiscal year	3,787	8,591
Prior	22,067	22,151
Revolving Loans	38,002	32,210
Revolving Loans Converted To Term Loans	308	318
Amortized Cost	120,807	121,316
1-4 family residential \| Classified
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	29	273
Financing receivable, year two, originated, fiscal year before current fiscal year	420	233
Financing receivable, year three, originated, two years before current fiscal year	156	53
Financing receivable, year four, originated, three years before current fiscal year	52	6
Financing receivable, year five, originated, four years before current fiscal year	3	64
Prior	1,059	1,089
Revolving Loans	68	81
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	1,787	1,799
Farmland
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	10,291	14,586
Financing receivable, year two, originated, fiscal year before current fiscal year	12,747	14,008
Financing receivable, year three, originated, two years before current fiscal year	10,512	8,485
Financing receivable, year four, originated, three years before current fiscal year	2,850	8,373
Financing receivable, year five, originated, four years before current fiscal year	6,790	10,168
Prior	21,817	20,090
Revolving Loans	1,370	1,443
Revolving Loans Converted To Term Loans	218	241
Amortized Cost	66,595	77,394
Farmland \| Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	10,092	14,387
Financing receivable, year two, originated, fiscal year before current fiscal year	12,736	13,396
Financing receivable, year three, originated, two years before current fiscal year	10,381	7,892
Financing receivable, year four, originated, three years before current fiscal year	2,738	8,040
Financing receivable, year five, originated, four years before current fiscal year	6,790	10,040
Prior	21,707	19,792
Revolving Loans	1,370	1,317
Revolving Loans Converted To Term Loans	218	241
Amortized Cost	66,032	75,105
Farmland \| Classified
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	199	199
Financing receivable, year two, originated, fiscal year before current fiscal year	11	612
Financing receivable, year three, originated, two years before current fiscal year	131	593
Financing receivable, year four, originated, three years before current fiscal year	112	333
Financing receivable, year five, originated, four years before current fiscal year	0	128
Prior	110	298
Revolving Loans	0	126
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	563	2,289
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	315,135	475,571
Financing receivable, year two, originated, fiscal year before current fiscal year	231,651	339,604
Financing receivable, year three, originated, two years before current fiscal year	184,872	82,098
Financing receivable, year four, originated, three years before current fiscal year	47,727	19,498
Financing receivable, year five, originated, four years before current fiscal year	7,704	15,088
Prior	13,398	8,160
Revolving Loans	481,443	490,361
Revolving Loans Converted To Term Loans	269	49
Amortized Cost	1,282,199	1,430,429
Commercial \| Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	300,479	466,254
Financing receivable, year two, originated, fiscal year before current fiscal year	220,970	332,746
Financing receivable, year three, originated, two years before current fiscal year	181,171	77,010
Financing receivable, year four, originated, three years before current fiscal year	45,579	18,940
Financing receivable, year five, originated, four years before current fiscal year	7,594	15,032
Prior	13,283	7,704
Revolving Loans	473,205	490,159
Revolving Loans Converted To Term Loans	269	49
Amortized Cost	1,242,550	1,407,894
Commercial \| Classified
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	14,656	9,317
Financing receivable, year two, originated, fiscal year before current fiscal year	10,681	6,858
Financing receivable, year three, originated, two years before current fiscal year	3,701	5,088
Financing receivable, year four, originated, three years before current fiscal year	2,148	558
Financing receivable, year five, originated, four years before current fiscal year	110	56
Prior	115	456
Revolving Loans	8,238	202
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	39,649	22,535
Factored receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	1,428,936	1,678,748
Financing receivable, year two, originated, fiscal year before current fiscal year	0	20,789
Financing receivable, year three, originated, two years before current fiscal year	20,144	0
Financing receivable, year four, originated, three years before current fiscal year	0	0
Financing receivable, year five, originated, four years before current fiscal year	0	0
Prior	0	0
Revolving Loans	0	0
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	1,449,080	1,699,537
Factored receivables \| Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	1,411,243	1,667,922
Financing receivable, year two, originated, fiscal year before current fiscal year	0	0
Financing receivable, year three, originated, two years before current fiscal year	0	0
Financing receivable, year four, originated, three years before current fiscal year	0	0
Financing receivable, year five, originated, four years before current fiscal year	0	0
Prior	0	0
Revolving Loans	0	0
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	1,411,243	1,667,922
Factored receivables \| Classified
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	17,693	10,826
Financing receivable, year two, originated, fiscal year before current fiscal year	0	20,789
Financing receivable, year three, originated, two years before current fiscal year	20,144	0
Financing receivable, year four, originated, three years before current fiscal year	0	0
Financing receivable, year five, originated, four years before current fiscal year	0	0
Prior	0	0
Revolving Loans	0	0
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	37,837	31,615
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	3,112	3,257
Financing receivable, year two, originated, fiscal year before current fiscal year	1,592	1,794
Financing receivable, year three, originated, two years before current fiscal year	1,035	669
Financing receivable, year four, originated, three years before current fiscal year	361	565
Financing receivable, year five, originated, four years before current fiscal year	355	2,543
Prior	2,910	1,987
Revolving Loans	141	70
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	9,506	10,885
Consumer \| Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	3,112	3,252
Financing receivable, year two, originated, fiscal year before current fiscal year	1,590	1,794
Financing receivable, year three, originated, two years before current fiscal year	1,033	669
Financing receivable, year four, originated, three years before current fiscal year	361	553
Financing receivable, year five, originated, four years before current fiscal year	355	2,424
Prior	2,760	1,882
Revolving Loans	141	70
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	9,352	10,644
Consumer \| Classified
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	0	5
Financing receivable, year two, originated, fiscal year before current fiscal year	2	0
Financing receivable, year three, originated, two years before current fiscal year	2	0
Financing receivable, year four, originated, three years before current fiscal year	0	12
Financing receivable, year five, originated, four years before current fiscal year	0	119
Prior	150	105
Revolving Loans	0	0
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	154	241
Mortgage warehouse
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	758,061	769,973
Financing receivable, year two, originated, fiscal year before current fiscal year	0	0
Financing receivable, year three, originated, two years before current fiscal year	0	0
Financing receivable, year four, originated, three years before current fiscal year	0	0
Financing receivable, year five, originated, four years before current fiscal year	0	0
Prior	0	0
Revolving Loans	0	0
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	758,061	769,973
Mortgage warehouse \| Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	758,061	769,973
Financing receivable, year two, originated, fiscal year before current fiscal year	0	0
Financing receivable, year three, originated, two years before current fiscal year	0	0
Financing receivable, year four, originated, three years before current fiscal year	0	0
Financing receivable, year five, originated, four years before current fiscal year	0	0
Prior	0	0
Revolving Loans	0	0
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	758,061	769,973
Mortgage warehouse \| Classified
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, year one, originated, current fiscal year	0	0
Financing receivable, year two, originated, fiscal year before current fiscal year	0	0
Financing receivable, year three, originated, two years before current fiscal year	0	0
Financing receivable, year four, originated, three years before current fiscal year	0	0
Financing receivable, year five, originated, four years before current fiscal year	0	0
Prior	0	0
Revolving Loans	0	0
Revolving Loans Converted To Term Loans	0	0
Amortized Cost	$ 0	$ 0

Fair Value Disclosures - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets measured at fair value on a recurring basis
Securities available for sale	$ 238,434	$ 182,426
Equity securities with readily determinable fair values	4,916	5,504
Indemnification asset	4,173	4,786
Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	238,434	182,426
Loans held for sale	78	7,330
Indemnification asset	4,173	4,786
Revenue share asset	6,178
Liabilities measured at fair value on a recurring basis	570
Fair Value, Measurements, Recurring \| Interest rate swaps
Assets measured at fair value on a recurring basis
Interest rate swap		6,164
Mutual fund
Assets measured at fair value on a recurring basis
Equity securities with readily determinable fair values	4,916	5,504
Mutual fund \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Equity securities with readily determinable fair values	4,916	5,504
Mortgage-backed securities, residential
Assets measured at fair value on a recurring basis
Securities available for sale	44,675	37,449
Mortgage-backed securities, residential \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	44,675	37,449
Asset-backed securities
Assets measured at fair value on a recurring basis
Securities available for sale	6,476	6,764
Asset-backed securities \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	6,476	6,764
State and municipal
Assets measured at fair value on a recurring basis
Securities available for sale	14,262	26,825
State and municipal \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	14,262	26,825
CLO securities
Assets measured at fair value on a recurring basis
Securities available for sale	169,708	106,634
CLO securities \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	169,708	106,634
Corporate bonds
Assets measured at fair value on a recurring basis
Securities available for sale	1,249	2,056
Corporate bonds \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	1,249	2,056
SBA pooled securities
Assets measured at fair value on a recurring basis
Securities available for sale	2,064	2,698
SBA pooled securities \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	2,064	2,698
Level 1 \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	0	0
Loans held for sale	0	0
Indemnification asset	0	0
Revenue share asset	0
Liabilities measured at fair value on a recurring basis	0
Level 1 \| Fair Value, Measurements, Recurring \| Interest rate swaps
Assets measured at fair value on a recurring basis
Interest rate swap		0
Level 1 \| Mutual fund \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Equity securities with readily determinable fair values	4,916	5,504
Level 1 \| Mortgage-backed securities, residential \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	0	0
Level 1 \| Asset-backed securities \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	0	0
Level 1 \| State and municipal \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	0	0
Level 1 \| CLO securities \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	0	0
Level 1 \| Corporate bonds \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	0	0
Level 1 \| SBA pooled securities \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	0	0
Level 2 \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	238,434	182,426
Loans held for sale	78	7,330
Indemnification asset	0	0
Revenue share asset	0
Liabilities measured at fair value on a recurring basis	0
Level 2 \| Fair Value, Measurements, Recurring \| Interest rate swaps
Assets measured at fair value on a recurring basis
Interest rate swap		6,164
Level 2 \| Mutual fund \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Equity securities with readily determinable fair values	0	0
Level 2 \| Mortgage-backed securities, residential \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	44,675	37,449
Level 2 \| Asset-backed securities \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	6,476	6,764
Level 2 \| State and municipal \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	14,262	26,825
Level 2 \| CLO securities \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	169,708	106,634
Level 2 \| Corporate bonds \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	1,249	2,056
Level 2 \| SBA pooled securities \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	2,064	2,698
Level 3 \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	0	0
Loans held for sale	0	0
Indemnification asset	4,173	4,786
Revenue share asset	6,178
Liabilities measured at fair value on a recurring basis	570
Level 3 \| Fair Value, Measurements, Recurring \| Interest rate swaps
Assets measured at fair value on a recurring basis
Interest rate swap		0
Level 3 \| Mutual fund \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Equity securities with readily determinable fair values	0	0
Level 3 \| Mortgage-backed securities, residential \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	0	0
Level 3 \| Asset-backed securities \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	0	0
Level 3 \| State and municipal \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	0	0
Level 3 \| CLO securities \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	0	0
Level 3 \| Corporate bonds \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	0	0
Level 3 \| SBA pooled securities \| Fair Value, Measurements, Recurring
Assets measured at fair value on a recurring basis
Securities available for sale	$ 0	$ 0

Fair Value Disclosures - Fair Value of Assets Measured on Non-recurring Basis (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	$ 44,712	$ 33,216
Collateral dependent loans \| Commercial real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	283	366
Collateral dependent loans \| 1-4 family residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	25	61
Collateral dependent loans \| Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	9,771	2,435
Collateral dependent loans \| Factored receivables
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	34,604	30,224
Collateral dependent loans \| Consumer
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	29	60
Other real estate owned \| Commercial real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring		7
Other real estate owned \| Construction, land development, land
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring		63
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Level 1 \| Collateral dependent loans \| Commercial real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Level 1 \| Collateral dependent loans \| 1-4 family residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Level 1 \| Collateral dependent loans \| Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Level 1 \| Collateral dependent loans \| Factored receivables
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Level 1 \| Collateral dependent loans \| Consumer
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Level 1 \| Other real estate owned \| Commercial real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring		0
Level 1 \| Other real estate owned \| Construction, land development, land
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring		0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Level 2 \| Collateral dependent loans \| Commercial real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Level 2 \| Collateral dependent loans \| 1-4 family residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Level 2 \| Collateral dependent loans \| Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Level 2 \| Collateral dependent loans \| Factored receivables
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Level 2 \| Collateral dependent loans \| Consumer
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Level 2 \| Other real estate owned \| Commercial real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring		0
Level 2 \| Other real estate owned \| Construction, land development, land
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring		0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	44,712	33,216
Level 3 \| Collateral dependent loans \| Commercial real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	283	366
Level 3 \| Collateral dependent loans \| 1-4 family residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	25	61
Level 3 \| Collateral dependent loans \| Commercial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	9,771	2,435
Level 3 \| Collateral dependent loans \| Factored receivables
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	34,604	30,224
Level 3 \| Collateral dependent loans \| Consumer
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	$ 29	60
Level 3 \| Other real estate owned \| Commercial real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring		7
Level 3 \| Other real estate owned \| Construction, land development, land
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring		$ 63