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Stock Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Summary of Changes in Company's Nonvested Restricted Stock Awards | A summary of changes in the Company’s nonvested Restricted Stock Awards (“RSAs”) under the Omnibus Incentive Plan for the nine months ended September 30, 2023 were as follows:
Nonvested RSAs |  | Shares |  | Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2023 |  | 230,486 |  |  | 70.34 |
Granted |  | 13,374 |  |  | 59.69 |
Vested |  | (107,623) |  |  | 60.34 |
Forfeited |  | (12,978) |  |  | 75.48 |
Nonvested at September 30, 2023 |  | 123,259 |  |  | 77.07 |
Summary of Changes in Company's Nonvested Restricted Stock Units | A summary of changes in the Company’s nonvested Restricted Stock Units (“RSUs”) under the Omnibus Incentive Plan for the nine months ended September 30, 2023 were as follows:
Nonvested RSUs |  | Shares |  | Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2023 |  | 211,300 |  |  | 59.45 |
Granted |  | 139,836 |  |  | 52.59 |
Vested |  | (114,509) |  |  | 43.19 |
Forfeited |  | (5,112) |  |  | 63.87 |
Nonvested at September 30, 2023 |  | 231,515 |  |  | 63.25 |
Summary of Changes in Company's Nonvested Performance Stock Units | A summary of changes in the Company’s nonvested Market Based Performance Stock Units (“Market Based PSUs”) under the Omnibus Incentive Plan for the nine months ended September 30, 2023 were as follows:
Nonvested Market Based PSUs |  | Shares |  | Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2023 |  | 112,486 |  |  | $ | 55.57 |
Granted |  | 78,872 |  |  | 78.15 |
Incremental shares earned |  | 52,694 |  |  | N/A
Vested |  | (122,969) |  |  | 36.10 |
Forfeited |  | (3,537) |  |  | 78.45 |
Nonvested at September 30, 2023 |  | 117,546 |  |  | $ | 87.55 |
A summary of changes in the Company’s nonvested Performance Based Performance Stock Units (“Performance Based PSUs”) under the Omnibus Incentive Plan for the nine months ended September 30, 2023 were as follows:
Nonvested Performance Based PSUs |  | Shares |  | Weighted Average Grant Date Fair Value
Nonvested at January 1, 2023 |  | 255,738 |  |  | $ | 39.57 |
Granted |  | — |  |  | — |
Incremental shares earned |  | 107,404 |  |  | N/A
Vested |  | (363,142) |  |  | 40 |
Forfeited |  | — |  |  | — |
Nonvested at September 30, 2023 |  | — |  |  | $ | — |
Fair Value of Stock Market Based PSUs Granted, Weighted-Average Assumptions | The fair value of the Market Based PSUs granted was determined using the following weighted-average assumptions:
|  | Nine Months Ended September 30,
|  | 2023 |  | 2022
Grant date |  | May 1, 2023 |  | May 1, 2022
Performance period |  | 3.00 years |  | 3.00 years
Stock price |  | $ | 51.25 |  |  | $ | 69.44 |
Triumph Financial stock price volatility |  | 49.33 | % |  | 55.17 | %
Risk-free rate |  | 3.76 | % |  | 2.84 | %
Summary of Changes in Company's Stock Options | A summary of the changes in the Company’s stock options under the Omnibus Incentive Plan for the nine months ended September 30, 2023 were as follows:
Stock Options |  | Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term (In Years) |  | Aggregate Intrinsic Value (In Thousands)
Outstanding at January 1, 2023 |  | 195,398 |  |  | $ | 39.48 |  |  |  |  |
Granted |  | 57,930 |  |  | 51.25 |  |  |  |  |
Exercised |  | (6,023) |  |  | 31.61 |  |  |  |  |
Forfeited or expired |  | (3,195) |  |  | 56.73 |  |  |  |  |
Outstanding at September 30, 2023 |  | 244,110 |  |  | $ | 42.24 |  |  | 6.29 |  | $ | 6,055 |
Fully vested shares and shares expected to vest at September 30, 2023 |  | 244,110 |  |  | $ | 42.24 |  |  | 6.29 |  | $ | 6,055 |
Shares exercisable at September 30, 2023 |  | 148,332 |  |  | $ | 32.81 |  |  | 4.59 |  | $ | 4,984 |
Schedule of Information Related to Stock Options | Information related to the stock options for the nine months ended September 30, 2023 and 2022 was as follows:
|  | Nine Months Ended September 30,
(Dollars in thousands, except per share amounts) |  | 2023 |  | 2022
Aggregate intrinsic value of options exercised |  | $ | 140 |  |  | $ | 280 |
Cash received from option exercises, net |  | (52) |  |  | (74) |
Tax benefit realized from option exercises |  | 29 |  |  | 59 |
Weighted average fair value per share of options granted |  | $ | 25.20 |  |  | $ | 32.15 |
Fair Value of Stock Options Granted, Weighted-Average Assumptions | The fair value of the stock options granted was determined using the following weighted-average assumptions:
|  | Nine Months Ended September 30,
|  | 2023 |  | 2022
Risk-free interest rate |  | 3.38 | % |  | 2.77 | %
Expected term |  | 6.25 years |  | 6.25 years
Expected stock price volatility |  | 45.65 | % |  | 43.33 | %
Dividend yield |  | — |  |  | — |

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- Definition Tabular disclosure of cash received from exercise of stock options and similar instruments granted under share-based payment arrangements and tax benefit from exercise of stock options. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2A -Subparagraph (a) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2A + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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