Triumph Financial Inc. has reported its financial results for the second quarter, recording a net income to common stockholders of $3.6 million, or $0.15 per diluted share. This period was characterized by significant but encouraging fluctuations. A key factor contributing to the financial outcome was the resolution of a longstanding litigation with the United States Postal Service $(USPS)$ concerning misdirected payments in its Factoring segment. This settlement resulted in the recovery of a $19.4 million receivable that had been non-performing for nearly five years, along with additional amounts. The company's Banking segment saw a decrease in operating income by $1.2 million to $26.4 million, a decline of 4.4% from the previous quarter. The decrease was attributed to higher legal expenses tied to managing classified assets, despite a combined growth of $1.4 million in net interest income and noninterest income. The growth in lending balances was driven primarily by increased mortgage warehouse volumes. Triumph Financial is focusing on integrating its data into ISO and Greenscreens models and building new products in response to customer demand. The company is taking a measured approach to ensure credibility and effectiveness in the market. Further details on these efforts and operational efficiency improvements are expected to be shared in the upcoming third quarter.
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