v3.25.4

PREMISES AND EQUIPMENT | 12 Months Ended
--- | ---
Dec. 31, 2025
Property, Plant and Equipment [Abstract] |
PREMISES AND EQUIPMENT | PREMISES AND EQUIPMENT Premises and Equipment Premises and equipment consisted of the following:
(Dollars in thousands) | December 31, 2025 |  | December 31, 2024
Land | $ | 12,299 |  |  | $ | 22,091 |
Buildings | 64,020 |  |  | 102,514 |
Leasehold improvements | 40,390 |  |  | 40,394 |
Automobiles and aircraft | 11,428 |  |  | 30,076 |
Furniture, fixtures and equipment | 39,238 |  |  | 42,281 |
| 167,375 |  |  | 237,356 |
Accumulated depreciation | (76,304) |  |  | (76,619) |
| $ | 91,071 |  |  | $ | 160,737 |
Depreciation expense was $14,873,000, $15,510,000 and $13,801,000 for the years ended December 31, 2025, 2024, and 2023, respectively. On December 17, 2025, the Company sold the building in Dallas, Texas originally purchased in March 2024 for the purpose of constructing a future headquarters for Triumph Financial and will not occupy the building in any capacity. The building was sold for $64,000,000 in cash. The gain on sale of $8,744,000 was calculated as follows and allocated to the Corporate and Other category for segment reporting:
(Dollars in thousands) |
Sales price | $ | 64,000 |
Net book value of disposal assets |
Premises and equipment, net | $ | 54,289 |
Intangible assets, net | 646 |
Deferred rent | 166 |
| $ | 55,101 |
Transaction costs | 155 |
Gain on sale, net of transaction costs | $ | 8,744 |
In addition to the gain on sale of the building, the Company recognized gains on sale of other business assets totaling $6,146,000 during the year ended December 31, 2025. These gains were primarily due to an airplane that was sold for cash proceeds of $11,500,000, resulting in a gain on sale of $5,583,000 which was allocated to the Corporate and Other category for segment reporting. Leases The Company leases certain premises and equipment under operating leases. At December 31, 2025 and 2024, the Company had lease liabilities totaling $25,055,000 and $29,449,000, respectively, and right-of-use assets totaling $22,652,000 and $26,555,000, respectively, related to these leases. Lease liabilities and right-of-use assets are reflected in other liabilities and other assets, respectively. For the years ended December 31, 2025 and 2024, the weighted average remaining lease term for operating leases was 4.93 and 6.09, respectively, and the weighted average discount rate used in the measurement of operating lease liabilities was 3.0% and 3.1%, respectively. Lease costs were as follows:
| Year Ended December 31,
(Dollars in thousands) | 2025 |  | 2024 |  | 2023
Operating lease cost | $ | 5,472 |  |  | $ | 5,450 |  |  | $ | 5,294 |
Short-term lease cost | 263 |  |  | 598 |  |  | 460 |
Variable lease cost | 38 |  |  | 20 |  |  | 145 |
Total lease cost | $ | 5,773 |  |  | $ | 6,068 |  |  | $ | 5,899 |
There were no sale and leaseback transactions, leveraged leases, or lease transactions with related parties during the year ended December 31, 2025. At December 31, 2025, the Company did not have any leases that had not yet commenced, but will create significant rights and obligations for the Company. A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows:
(Dollars in thousands) | December 31, 2025
Lease payments due: |
Within one year | $ | 6,405 |
After one but within two years | 5,861 |
After two but within three years | 4,937 |
After three but within four years | 4,215 |
After four but within five years | 3,374 |
After five years | 3,003 |
Total undiscounted cash flows | 27,795 |
Discount on cash flows | (2,740) |
Total lease liability | $ | 25,055 |
Lessor Operating Leases On March 20, 2024, the Company purchased a building in Dallas, TX that was intended to be the future headquarters for Triumph Financial. During the year ended December 31, 2025, the Company sold the building and will not occupy it in any capacity. During the years ended December 31, 2025 and 2024, the Company leased space in the building to tenants under operating leases for which the terms varied, including certain provisions to extend the lease term, options for early terminations subject to specified penalties, and other terms and conditions as negotiated. The Company’s leases were not complex; therefore there were no significant assumptions or judgments made as part of the determination of whether the contracts contained a lease or the allocation of consideration in the contracts between lease and non-lease components. The table below shows the Company's revenue from operating leases, which is included in other non-interest income in the Company's consolidated statements of income.
|  | Year Ended December 31,
(Dollars in thousands) |  | 2025 |  | 2024 |  | 2023
Fixed payments |  | $ | 1,423 |  |  | $ | 2,833 |  |  | $ | — |
Variable payments |  | 766 |  |  | 1,222 |  |  | — |
Amortization of intangibles included in lease income |  | (67) |  |  | (75) |  |  | — |
Total lease income |  | $ | 2,122 |  |  | $ | 3,980 |  |  | $ | — |

X
- References No definition available. + Details
Name: | us-gaap_PropertyPlantAndEquipmentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
Name: | us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration