TRIUMPH CONTINUES POSITIVE GROWTH
In a March 2010 Memphis Business Journal article, Triumph Bank was one of only four Memphis area banks noted with positive numbers for 2009. That steady progress continues today.
According to the article, Triumph’s growth came at a time when 8 of 11 community banks and another local institution lost a combined 28.1 million. And although First Tennessee Bank posted losses, they were able to weather these losses due to receiving federal TARP dollars and raising capital in 2008. Triumph Bank did not receive federal dollars of any kind.
Having been one of the local banks to succeed, Triumph President/CEO Will Chase was a leading source to represent the overall local banking perspective. In the article, he noted that “the cost of borrowing money from the federal government was significantly reduced.” He also noted that “2009 was a hard fight in banking, whether just eking out small profits or keeping losses to a minimum.”
Prior to the challenges the banking industry has faced, Triumph has remained thoroughly devoted to making decisions with the objective of protecting its assets, which protects its customers. That devotion continues well into 2010 and beyond.