FOR IMMEDIATE RELEASE
NASHVILLE, TN, October 23, 2025 – Truxton Corporation, the parent company for Truxton Trust Company (“Truxton” or “the Bank”) and subsidiaries, announced its operating results for the quarter ended September 30, 2025. Third quarter net income attributable to common shareholders was $5.6 million, or $1.95 per diluted share, compared to $4.6 million, or $1.57 per diluted share, for the same quarter in 2024. Net income and fully diluted earnings per share for the quarter rose by 23% and 24%, respectively, compared to the third quarter of 2024.
“We are pleased to report continued earnings growth for the 3rd quarter of 2025,” said Chairman and CEO Tom Stumb. “Our dedicated colleagues continue to deliver exceptional outcomes for our clients, which allows us to deliver excellent returns to our shareholders.”
Key Highlights
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Non-interest income totaled $6.0 million in the third quarter of 2025, which was 2% less than the second quarter of 2025 but 8% more than the third quarter of 2024. Wealth revenue in the third quarter of 2025 was $5.6 million, up 8% from the second quarter of 2025 and up 7% from the third quarter of 2024.
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Loans increased 4% to $721 million at quarter end compared to $692 million at June 30, 2025, and were up 8% compared to $665 million at September 30, 2024. Average loans balances were $11 million higher in the third quarter than the second quarter of 2025.
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Total deposits increased 11% from $1.05 billion at June 30, 2025, to $1.16 billion at September 30, 2025, and were 30% higher in comparison to $889 million at September 30, 2024. Truxton continues to fund its growth from a single banking location led by its commitment to provide superior deposit operations service and supported by efficient use of various wholesale funding sources.
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Net interest margin for the third quarter of 2025 was 2.82%, a decline of 10 basis points from the 2.92% experienced in the quarter ended June 30, 2025, and an increase of 13 basis points from the 2.69% in the quarter ended September 30, 2024. Cost of funds was 3.08% in the third quarter of 2025, up from 3.01% for the quarter ended June 30, 2025, and down from 3.48% for the quarter ended September 30, 2024.
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Allowance for credit losses, excluding that for unfunded commitments, was $7.0 million at quarter end September 30, 2025, compared to $6.7 million at June 30, 2025, and $6.4 million at September 30, 2024. For those three periods, these allowance amounts were 0.98%, 0.97%, 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 $650 thousand, $729 thousand, and $409 thousand, respectively.
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The Bank’s capital position remains strong. Its Tier 1 leverage ratio was 8.90% at September 30, 2025, compared to 9.36% at June 30, 2025, and 10.45% at September 30, 2024. Book value per common share was $38.51, $35.75, and $33.30 at September 30, 2025, June 30, 2025, and September 30, 2024, respectively.
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During the nine months ended September 30, 2025, Truxton Corporation paid dividends of $2.50 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. On September 30, 2025, Truxton Corporation fully repaid its $15 million subordinated debt.
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.
