Tim [Last Name Unknown]'s questions to Triumph Financial Inc (TFIN) leadership • Q1 2024
Question
An analyst identified as Tim asked for clarification on a $2.4 million revenue figure, the strategy for repricing legacy payments clients, and the source of management's confidence in improving credit quality despite market headwinds like potential tariffs.
Answer
Executive Todd Ritterbusch clarified the $2.4 million figure was solely from upgraded and cross-sold clients. Executive Aaron Graft explained that confidence in repricing comes from new clients successfully onboarding at higher rates. On credit, Ritterbusch noted Q1's improvement resulted from past efforts and they are only ~40% through the workout process with reserves already allocated. Graft added that management has deep insight into every classified asset and that most at-risk loans were seasoned during the current difficult freight cycle, making them inherently less risky. He expects credit will not be a material issue by the second half of the year.