Triumph Bancshares of Germantown, Tenn., has sold 1.35 million shares to investors, raising roughly $12.2 million in fresh funds to help grow its bank.
The money will be used as “the engine for our management team’s five-year growth strategy,” said Hilliard Crews, Triumph’s chairman, the
Since its founding in 2006, Triumph Bank has grown organically to $308 million in assets. For 2011, the bank had $241 million in net loans and leases and a net operating income of $2.7 million, more than twice what it made in 2010, according to the Federal Deposit Insurance Corp.