FOR IMMEDIATE RELEASE
NASHVILLE, TN, April 30, 2026 – Truxton Corporation, the parent company for Truxton Trust Company (“Truxton” or “the Bank”) and subsidiaries, announced its operating results for the quarter ended March 31, 2026. First quarter net income attributable to common shareholders was $6.80 million, or $2.35 per diluted share, compared to $5.05 million, or $1.75 per diluted share, for the same quarter in 2025.
Key Highlights
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Non-interest income was $6.4 million in the first quarter of 2026, which was $479 thousand higher than the fourth quarter of 2025 but $30 thousand less than the first quarter of 2025, which included a significant capital advisory fee. Wealth revenue in the first quarter of 2026 was $6.0 million, up 3% from $5.8 million in the prior quarter and up 13% from $5.3 million in the same period in the prior year.
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Net interest income, pre-provision, was $10.4 million in the first quarter of 2026, up 9% from $9.5 million in the fourth quarter of 2025 and up 44% from $7.3 million in the first quarter of 2025.
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Loans decreased 1% to $808 million at quarter end compared to $814 million at December 31, 2025, and were up 15% compared to $702 million at March 31, 2025. Quarterly average loan balances were $823 million for the first quarter of 2026, up 9% from $755 million in the fourth quarter of 2025 and 19% from $691 million in the first quarter of 2025.
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Total deposits decreased by 5% from $1.24 billion at December 31, 2025 to $1.18 billion at March 31, 2026, and were 15% higher in comparison to $1.03 billion at March 31, 2025. Truxton continues to fund much of its growth from a single banking location led by its commitment to provide what it believes is superior deposit operations service and technology.
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Net interest margin for the first quarter of 2026 was 3.18%, an increase of 21 basis points from the 2.97% experienced in the quarter ended December 31, 2025, and an increase of 28 basis points from the 2.90% recorded in the quarter ended March 31, 2025. Cost of funds was 2.70% in the first quarter of 2026, down from 2.91% in each of the fourth quarter of 2025 and first quarter of 2025.
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Asset quality remains sound at Truxton. The Bank had $124 thousand of non-performing assets at March 31, 2026 compared to $106 thousand at December 31, 2025 and $0 at March 31, 2025.
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Allowance for credit losses on loans, excluding that for unfunded commitments, was $7.4 million at quarter end March 31, 2026, compared to $7.4 million at December 31, 2025, and $6.7 million at March 31, 2025. For those three periods, such allowance amounts were 0.91%, 0.91%, and 0.96% of gross loans outstanding at the respective period end. For the same three periods, the Bank’s allowance for unfunded commitments was $629 thousand, $741 thousand, and $589 thousand, respectively.
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The Bank’s capital position remains strong. Its Tier 1 leverage ratio was 8.85% at March 31, 2026, compared to 8.77% at December 31, 2025, and 10.46% at March 31, 2025. Book value per common share was $41.36, $40.55, and $34.46 at March 31, 2026, December 31, 2025, and March 31, 2025, respectively.
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During the three months ended March 31, 2026, Truxton Corporation paid dividends of $0.88 per common share, and repurchased 7,518 shares of its common stock for $644 thousand in the aggregate, or an average price of $85.63 per share.
About Truxton
Truxton is a premier provider of wealth, banking, and family office services for wealthy individuals, their families, and their business interests. Serving clients across the world, Truxton’s vastly experienced team of professionals provides customized solutions to its clients’ complex financial needs. Founded in 2004 in Nashville, Tennessee, Truxton upholds its original guiding principle: do the right thing. Truxton Trust Company is a subsidiary of financial holding company, Truxton Corporation (OTCID: TRUX). For more information, visit truxtontrust.com.
