Welcome to our dedicated page for Truxton news (Ticker: TRUX), a resource for investors and traders seeking the latest updates and insights on Truxton stock.
Truxton Corp (TRUX) provides specialized wealth management and private banking services for high-net-worth clients. This news hub offers investors and financial professionals centralized access to verified corporate updates and strategic developments.
Track official announcements including earnings reports, leadership changes, service expansions, and regulatory filings. Our curated collection ensures timely access to material information affecting investment analysis and market positioning.
Key updates cover trust service innovations, banking product enhancements, and strategic partnerships. All content is sourced from company disclosures and regulatory filings to maintain compliance and accuracy standards.
Bookmark this page for efficient monitoring of TRUX's operational milestones and financial service developments. Regular updates provide essential insights for informed decision-making in wealth management sector analysis.
Truxton Corporation reported a net income of $4.3 million ($1.47 per diluted share) for Q1 2023, reflecting a 2% increase from the same quarter in 2022. Wealth Management Services revenue declined by only $10,000, while non-interest income rose to $4.5 million, up 2% year-over-year. Loans grew by 1% to $626 million, and deposits dropped by 4% to $771 million compared to year-end 2022. The net interest margin stood at 2.75%, down 8 basis points from Q4 2022, while the cost of funds increased to 2.27%. Asset quality remained strong with no non-performing assets, and the allowance for credit losses was $6 million. The capital position improved, with a Tier 1 leverage ratio of 10.29%. Truxton also declared dividends totaling $1.38 per share, including a special cash dividend of $1.00.
Truxton Corporation (OTCPK: TRUX) announced a quarterly cash dividend of $0.38 per common share, set to be paid on June 26, 2023, to shareholders of record by June 9, 2023. This decision reflects the company's ongoing commitment to returning value to its shareholders.
As a financial holding company, Truxton Corporation is the parent of Truxton Trust Company, which provides a range of private banking and wealth management services. Founded in 2004 in Nashville, Tennessee, the firm aims to meet the complex financial needs of wealthy individuals and their families.
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