Triumph returns to profit on freight recovery; faces $22.5M exposure in Tricolor bankruptcy

Filed April 21, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 16, 2025 · ~2 min read

Key Changes

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  Q1 2026 net income of $5.6M ($0.23/share) vs. $0.8M loss in Q1 2025, driven by freight market recovery as regulatory enforcement tightened driver supply and spot rates hit multi-year highs.

  MD&A: Profitability & Freight Market verify on EDGAR →
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  Bank holds $22.5M exposure in $60.5M floorplan facility to Tricolor, which filed Chapter 7 bankruptcy Sept 2025 amid public fraud allegations; other creditors dispute Bank's first-priority security interest in collateral.

  Legal Proceedings verify on EDGAR →
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  Transportation revenue (Factoring + Payments + Intelligence) grew 23.5% YoY to $62.1M, now 49% of total segment revenue vs. 40% prior year, reflecting strategic shift from traditional banking.

  MD&A: Segment Revenue Mix verify on EDGAR →