FOR IMMEDIATE RELEASE
NASHVILLE, TN, July 24, 2025 – Truxton Corporation, the parent company for Truxton Trust Company (“Truxton” or “the Bank”) and subsidiaries, announced its operating results for the quarter ended June 30, 2025. Second quarter net income attributable to common shareholders was $5.3 million, or $1.84 per diluted share, compared to $4.5 million, or $1.55 per diluted share, for the same quarter in 2024. Net income and fully diluted earnings per share for the quarter rose by 18% and 19%, respectively, compared to the second quarter of 2024.
“Truxton’s second quarter 2025 performance was encouraging,” said Chairman and CEO Tom Stumb. “We achieved a new high in quarterly earnings, 5% higher than the prior quarter and 19% higher than the second quarter last year, while investing in the human talent that allows us to develop exceptional results for our clients and shareholders.”
Key Highlights
- Non-interest income totaled $6.1 million in the second quarter of 2025, which was $240 thousand lower than the first quarter of 2025 and $604 thousand over the second quarter of 2024. Wealth revenue in the second quarter of 2025 was $5.2 million, down 2% from the first quarter of 2025 and flat with the second quarter of 2024. Other non-interest income was elevated as a result of a Truxton Capital Advisors fee associated with a successful debt recapitalization engagement.
- Loans declined 1% to $692 million at quarter end compared to $702 million on March 31, 2025, and were up 7% compared to $648 million on June 30, 2024. Average loans balances were $2.3 million higher in the second quarter than the first quarter of 2025.
- Total deposits increased 2% from $1.03 billion at March 31, 2025, to $1.05 billion at June 30, 2025, and were 25% higher in comparison to $840 million at June 30, 2024. Truxton continues to fund its growth from a single banking location led by its commitment to provide what Truxton believes are superior deposit operations service and technology.
- Net interest margin for the second quarter of 2025 was 2.92%, an increase of 2 basis points from the 2.90% experienced in the quarter ended March 31, 2025, and an increase of 17 basis points from the 2.75% in the quarter ended June 30, 2024. Cost of funds was 3.01% in the second quarter of 2025, up from 2.91% for the quarter ended March 31, 2025, and down from 3.32% for the quarter ended June 30, 2024.
- Allowance for credit losses, excluding that for unfunded commitments, was $6.7 million at quarter end June 30, 2025, compared to $6.7 million at March 31, 2025, and $6.2 million at June 30, 2024. For those three periods, such allowance amounts were 0.97%, 0.96%, 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 $729 thousand, $589 thousand, and $438 thousand, respectively.
- The Bank’s capital position remains strong. Its Tier 1 leverage ratio was 9.36% at June 30, 2025, compared to 10.46% at March 31, 2025, and 10.45% at June 30, 2024. Book value per common share was $35.75, $34.46, and $31.85 at June 30, 2025, March 31, 2025, and June 30, 2024, respectively.
- During the six months ended June 30, 2025, Truxton Corporation paid dividends of $2.00 per common share, inclusive of a $1.00 special cash dividend, and repurchased 11,700 shares of its common stock for $923 thousand in aggregate, or an average price of $78.85 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.
