DALLAS, July 18, 2016 (GLOBE NEWSWIRE) -- Triumph Bancorp, Inc. (Nasdaq:TBK), the parent company for TBK Bank, SSB, today announced that both the Federal Reserve Bank of Dallas and Federal Deposit Insurance Corporation (“FDIC”) have now approved the previously announced acquisition of ColoEast Bankshares, Inc., and merger of Colorado East Bank &Trust with TBK Bank, SSB.
Upon expiration of the public notice requirement specified by Texas state law, the Department of Savings and Mortgage Lending anticipates issuing its final approval. The transactions remain subject to the satisfaction or waiver of other customary closing conditions. Triumph expects to complete the transaction on or about August 1, 2016.
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
Forward-Looking Statements
This Press Release may contain forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such statements, including statements with respect to the expected benefits of the proposed transaction and the timing of the proposed transaction, are predictions and that actual events or results may differ materially. These forward-looking statements are not guarantees of future results and are subject to factors that could cause actual results to differ materially from those we may expect, including, but not limited to: economic, political and market conditions and fluctuations; competition; the possibility that the expected benefits related to the proposed transaction may not materialize as expected; the proposed transaction not being timely completed, if completed at all; prior to the completion of the proposed transaction, ColoEast’s business experiencing disruptions due to transaction-related uncertainty or other factors making it more difficult to maintain relationships with employees, customers, other business partners or governmental entities, difficulty retaining key employees, and the parties being unable to successfully implement integration strategies or to achieve expected synergies and operating efficiencies within the expected time-frames or at all; and other factors identified in our filings with the Securities and Exchange Commission (the “SEC”). For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” and the forward-looking statement disclosure contained in Triumph Bancorp, Inc.’s Annual Report on Form 10-K, filed with the SEC on February 26, 2016. Forward-looking statements speak only as of the date made and Triumph undertakes no duty to update such information.