Triumph Business Capital Completes Acquisition of Factoring AssetsJune 14, 2018 | By: deBanked Staff
Triumph Bancorp, Inc. (NASDAQ:TBK) recently announced the closing of the acquisition of the transportation factoring assets of Interstate Capital Corporation byAdvance Business Capital, also known as Triumph Business Capital.
Triumph Business Capital is a wholly owned subsidiary of TBK Bank, SSB, which is a wholly owned subsidiary of Triumph Bancorp. The assets acquired include all of the accounts receivable and transportation factoring assets and operations of Interstate Capital Corporation (ICC) and certain of its affiliates. Following the closing [of ICC], the acquired operations will continue to be conducted under the ICC brand name.
Triumph initially announced its agreement to acquire the transportation factoring assets of ICC on April 9, 2018, but the acquisition was made final at the beginning of the month. Triumph Bancorp, Inc. is a financial holding company headquartered in Dallas, Texas, with a diversified line of community banking and commercial finance activities.
Last modified: June 14, 2018