Triumph Bancorp in Dallas is looking to raise $123 million through an initial public offering.

The $1.4 billion-asset company is offering 6.7 million shares of common stock at an expected price range between $14 and $16, according to a regulatory filing issued on Monday with the Securities and Exchange Commission.

Triumph is also granting underwriters a 30-day option to purchase an additional 1 million shares of stock to cover overallotments, the filing said.

The company plans to use approximately $25.9 million of the net proceeds to redeem shares of preferred stock issued through the Troubled Asset Relief Program that is currently outstanding at National Bancshares, which Triumph acquired in April 2013.

Another $11.7 million of the offering proceeds would go toward retiring senior secured debt, while the remainder of the net proceeds would be used for organic growth and other general corporate purposes, the filing said.

Triumph plans to list on the Nasdaq under the symbol TBK.

Sandler O'Neill & Partners, Evercore and Wells Fargo Securities will serve as joint book-runners. Keefe, Bruyette & Woods and Nomura Securities are acting as co-managers for the offering.

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