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 reported strong Q2 2024 results, with net income attributable to common shareholders at $4.51 million, or $1.55 per diluted share, up 1% from Q2 2023. Non-interest income grew to $5.5 million, with wealth management constituting 94% of it. Despite a 2% decline in loans to $648 million and a 1% decrease in total deposits to $840 million, the company's net interest margin improved to 2.75%. The Bank's Tier 1 leverage ratio remained strong at 10.45%. However, non-interest expenses increased due to fraud losses of $733 thousand and higher costs related to headquarters relocation.
Truxton (OTCPK: TRUX), the parent company of Truxton Trust, has been named the 9th top community bank in the U.S. by American Banker. This recognition highlights Truxton's exceptional performance with a 3-year return on average equity (ROAE) of 20.98% for the period ending December 31, 2023. Truxton has been featured in American Banker’s annual ranking for twelve consecutive years and holds the distinction of being the highest-ranked bank based in Tennessee. The bank's ROAE for 2023 alone was an impressive 22.3%. Both CEO Tom Stumb and CFO Austin Branstetter attribute this success to the company's commitment to excellent client service and prudent equity capital management.
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