Peoples Bank Buying Triumph Premium Finance

Kansas City-based Triumph Premium Finance, which provides financial services for customers to purchase property and casualty insurance products through a network of independent insurance agency customers across the country, is being acquired by Peoples Bank, based in Ohio.

Triumph recorded receivables of about $100 million as of the end of 2019. The deal is expected to close in the second quarter of this year. 

John Binaggio, a Triumph senior vice president, will manage the insurance premium financing operations for Peoples Bank. Triumph is a division of TBK Bank, which has locations throughout the Midwest and Southwest.