Triumph Financial (TFIN) cuts 5% of staff, targets up to $20M savings

Rhea-AI Filing Summary

Triumph Financial, Inc. announced a workforce reduction affecting approximately 5% of its employees as part of broader cost-saving initiatives. The company expects to record about $4.5 million in charges, largely in the third quarter of 2025, mainly for one-time severance and related employee benefits.

The reduction in force, along with cuts in facilities, legacy technology, vendor spending and travel, is expected to generate $18 to $20 million in annualized run-rate cash savings. Triumph anticipates realizing around 80% of these savings starting in the fourth quarter of 2025, with the remainder in the first half of 2026. Management links these actions to technology investments that have improved efficiency and states they are intended to strengthen the company’s competitive position and support long-term growth.

Positive

• Annualized cost savings of $18–$20 million are expected from the reduction in force and other initiatives, with around 80% beginning in Q4 2025 and the rest in the first half of 2026, potentially improving future profitability.

Negative

• Workforce reduction of approximately 5% will result in about $4.5 million of one-time charges in Q3 2025 and may create operational and morale challenges despite the longer-term savings goal.

Insights

Banking sector restructuring analyst

Triumph trades near-term layoff costs for sizable cost savings.

Triumph Financial is implementing a reduction in force of about 5% of its workforce, tied to prior technology investments that have automated or streamlined work. This move triggers estimated one-time charges of about $4.5 million in Q3 2025, largely severance and related benefits.

In return, management expects annualized run-rate cash savings of $18 to $20 million, with roughly 80% starting in Q4 2025 and the balance in the first half of 2026. That indicates a relatively quick payback on restructuring costs and a leaner expense base going forward, assuming execution aligns with these expectations.

The company frames the changes as rebalancing its cost structure and reorganizing teams to better serve transportation verticals. While workforce reductions can carry operational and cultural risks, the disclosed figures suggest a meaningful expense reset that could improve profitability metrics once the one-time charges are absorbed.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 20, 2025

TRIUMPH FINANCIAL, INC.

(Exact name of Registrant as Specified in Its Charter)

Texas (State or Other Jurisdiction of Incorporation)			001-36722 (Commission File Number)			20-0477066 (IRS Employer Identification No.)
12700 Park Central Drive, Suite 1700 Dallas, Texas (Address of Principal Executive Offices)						75251 (Zip Code)

(214) 365-6900

(Registrant’s telephone number, including area code)

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2b)
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4c)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, par value $0.01 per share

TFIN

The New York Stock Exchange

NYSE Texas

Depositary Shares Each Representing a 1/40th Interest in a Share of 7.125% Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock

TFIN PR

The New York Stock Exchange

Item 8.01.Other Events

On August 20, 2025, Triumph Financial, Inc. (the “Company”) implemented a reduction in force expected to involve approximately 5% of the Company’s workforce. In connection with the reduction in force and related cost saving initiatives described below, the Company expects to incur aggregate charges of approximately $4.5 million, substantially all of which is expected to be incurred in the third quarter of 2025. The charges are expected to consist primarily of one-time termination charges arising from severance obligations and other customary employee benefit payments in connection with a reduction in force.

The reduction in force, along with other cost saving initiatives being undertaken by the Company, including non-headcount related reductions in facilities, legacy technology, vendor spend and travel, are expected to result in approximately $18 to $20 million of annualized run-rate cash savings. Approximately 80% of these annualized run-rate savings are expected to be realized commencing in the fourth quarter of 2025, with the remainder commencing in the first half of 2026.

This action is part of the Company’s initiatives to re-balance its cost structure in light of technology investments that have delivered significant efficiencies across the organization. These advancements have reduced the need for certain roles and prompted a reorganization of teams and responsibilities to better serve the Company’s transportation verticals. The Company believes these actions will strengthen its competitive position, enhance operational agility, and support sustainable long-term growth.

Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such statements are predictions and that actual events or results may differ materially. The Company’s expected financial results or other plans are subject to a number of risks and uncertainties. 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 the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 11, 2025. Forward-looking statements speak only as of the date made and the Company undertakes no duty to update the information.

Item 9.01.Financial Statements and Exhibits

(d)Exhibits.

Exhibit			Description
104			Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

			TRIUMPH FINANCIAL, INC.
By:			/s/ Adam D. Nelson
			Name: Adam D. Nelson Title: Executive Vice President & General Counsel

Date: August 21, 2025

FAQ

What did Triumph Financial (TFIN) announce in this 8-K?

Triumph Financial announced a reduction in force involving about 5% of its workforce, along with other cost-saving measures, and outlined related charges and expected annualized savings.

How many employees are affected by Triumph Financial’s workforce reduction?

The company stated that the reduction in force is expected to involve approximately 5% of its workforce, though a specific headcount was not provided.

What charges will Triumph Financial incur from the restructuring?

Triumph Financial expects to incur approximately $4.5 million in aggregate charges, primarily one-time severance and employee benefit payments, with substantially all incurred in the third quarter of 2025.

How much does Triumph Financial expect to save from these cost initiatives?

The reduction in force and other initiatives, including cuts to facilities, legacy technology, vendor spend and travel, are expected to generate $18 to $20 million in annualized run-rate cash savings.

When will Triumph Financial’s expected cost savings begin to be realized?

The company expects about 80% of the annualized run-rate savings to begin in the fourth quarter of 2025, with the remainder starting in the first half of 2026.

Why is Triumph Financial implementing these workforce and cost changes?

Management explained that prior technology investments have created efficiencies, reducing the need for certain roles and prompting a reorganization aimed at strengthening its competitive position, enhancing operational agility, and supporting long-term growth.