Triumph Bancorp, Inc. (NASDAQ:TBK) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

Listing Rule 5605(c)(2)(A) of The NASDAQ Stock Market requires that each listed company must have an audit committee of at least three members, each of whom, among other requirements, must be an “Independent Director” and meet the criteria for independence set forth in Rule 10A-3(b) under the Securities Exchange Act of 1934, as amended. As previously disclosed, one of the then-current Audit Committee members of Triumph Bancorp, Inc. (the “Company”), Derek McClain, did not stand for re-election at the Company’s Annual Meeting.   As a result, the Company’s Audit Committee now consists of two members. The Company intends to fill the vacancy on the Audit Committee within the cure period provided for in Listing Rule 5605(c)(4)(B) of The NASDAQ Stock Market.  

On May 11, 2017, the Company received a notice from The NASDAQ Stock Market acknowledging that the Company no longer complies with the audit committee requirements as set forth in Listing Rule 5605(c)(2)(A) and confirming the Company’s opportunity to regain compliance within the cure period provided in Listing Rule 5605(c)(4)(B).

About Triumph Bancorp, Inc. (NASDAQ:TBK)

Triumph Bancorp, Inc. is a financial holding company. Through its bank subsidiary, TBK Bank, SSB (TBK Bank), the Company offers banking services, as well as commercial finance products to businesses that require specialized financial solutions. The Company operates through four segments: Banking, Factoring, Asset Management and Corporate. The Factoring segment includes the operations of Advance Business Capital, LLC (doing business as Triumph Business Capital) with revenue derived from factoring services. The Banking segment includes the operations of TBK Bank, including loans originated under its TCF brand, and certain factored receivables, which are purchased by TBK Bank. The Asset Management segment includes operations of Triumph Capital Advisors, LLC, which manages collateralized loan obligation funds. The Corporate segment includes holding company financing and investment activities, and management and administrative expenses to support its operations.

Triumph Bancorp, Inc. (NASDAQ:TBK) Recent Trading Information

Triumph Bancorp, Inc. (NASDAQ:TBK) closed its last trading session down -0.30 at 21.30 with 57,770 shares trading hands.