DALLAS, Sept. 30, 2016 (GLOBE NEWSWIRE) -- Triumph Bancorp, Inc. (NASDAQ:TBK) closed its public offering of $50 million aggregate principal amount of its Fixed-to-Floating Rate Subordinated Notes due 2026.

The Notes will initially bear interest at 6.50% per annum, payable semi-annually in arrears, to, but excluding, September 30, 2021, and, thereafter and to, but excluding, the maturity date or earlier redemption, interest shall be payable quarterly in arrears, at an annual floating rate equal to three-month LIBOR as determined for the applicable quarterly period, plus 534.5 basis points. The Company intends to use the net proceeds from this offering for general corporate purposes, potential strategic acquisitions and investments in TBK Bank, SSB as regulatory capital.

Sandler O’Neill + Partners, L.P. acted as sole book-running manager and FIG Partners, LLC served as co-manager for the Notes offering.

About Triumph

Headquartered in Dallas, Texas, Triumph Bancorp, Inc. (NASDAQ:TBK) is a financial holding company with a diversified line of community banking, commercial finance and asset management activities.www.triumphbancorp.com