FOR IMMEDIATE RELEASE
NASHVILLE, TN, July 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 June 30, 2026. Second quarter net income attributable to common shareholders was $6.88 million, or $2.38 per diluted share, compared to $5.32 million, or $1.84 per diluted share, for the same quarter in 2025.
Key Highlights
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Non-interest income was $6.7 million in the second quarter of 2026, which was $351 thousand higher than the first quarter of 2026 and $560 thousand higher than the second quarter of 2025, which included a significant capital advisory fee. Wealth revenue in the second quarter of 2026 was $6.2 million, up 3% from $6.0 million in the prior quarter and up 19% from $5.2 million in the same period in the prior year.
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Net interest income, pre-provision, was $10.1 million in the second quarter of 2026, down 3% from $10.4 million in the first quarter of 2026 and up 19% from $8.5 million in the second quarter of 2025.
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Loans decreased 1% to $804 million at quarter end compared to $808 million at March 31, 2026, and were up 16% compared to $691 million at June 30, 2025. Quarterly average loan balances were $803 million for the second quarter of 2026, down 2% from $824 million in the first quarter of 2026 and up 16% from $692 million in the second quarter of 2025.
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Total deposits decreased by 5% from $1.18 billion at March 31, 2026 to $1.12 billion at June 30, 2026, and were 7% higher in comparison to $1.05 billion at June 30, 2025. This decline was caused by a decrease of $94 million in wholesale deposits from March 31, 2026, to June 30, 2026.
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Net interest margin for the second quarter of 2026 was 3.10%, a decrease of 8 basis points from the 3.18% experienced in the quarter ended March 31, 2026, and an increase of 21 basis points from the 2.89% recorded in the quarter ended June 30, 2025. Cost of funds was 2.76% in the second quarter of 2026, up from 2.70% for the quarter ended March 31, 2026, and down from 3.01% for the quarter ended June 30, 2025.
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Asset quality remains sound at Truxton. The Bank had $116 thousand of non-performing assets at June 30, 2026 compared to $120 thousand at March 31, 2026 and $0 at June 30, 2025.
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Allowance for credit losses on loans, excluding that for unfunded commitments, was $7.4 million at quarter end June 30, 2026, compared to $7.4 million at March 31, 2026, and $6.7 million at June 30, 2025. For those three periods, such allowance amounts were 0.92%, 0.91%, and 0.97% of gross loans outstanding at the respective period end. For the same three periods, the Bank’s allowance for unfunded commitments was $814 thousand, $629 thousand, and $729 thousand, respectively.
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The Bank’s capital position remains strong. Its Tier 1 leverage ratio was 9.27% at June 30, 2026, compared to 8.85% at March 31, 2026, and 9.36% at June 30, 2025. Book value per common share was $43.11, $41.36, and $35.75 at June 30, 2026, March 31, 2026, and June 30, 2025, respectively.
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During the three months ended June 30, 2026, Truxton Corporation paid dividends of $0.88 per common share, and repurchased 1,100 shares of its common stock for $106 thousand in the aggregate, or an average price of $96.00 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.
