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 Corporation (TRUX) is a financial holding company and the parent of Truxton Trust Company, which provides wealth, banking, and family office services for wealthy individuals, their families, and their business interests. News about Truxton often highlights its focus on high-net-worth clients, complex financial needs, and its origins in Nashville, Tennessee, where Truxton was founded in 2004.
Investors and observers following TRUX news will see regular updates on Truxton Corporation’s quarterly financial results, including information on loans, deposits, non-interest income from wealth management services, capital advisory fees, and key performance ratios. Releases also cover dividend declarations on Truxton’s common stock, special cash dividends, and actions such as share repurchases and debt repayment.
Company news frequently features developments in Truxton Wealth and Truxton Banking, including the hiring and promotion of experienced professionals in wealth advisory, tax strategy, commercial banking, and compliance. These announcements describe Truxton’s emphasis on client-focused service, relationship management, and its guiding principle of doing the right thing for wealthy families and their businesses.
Truxton Capital Advisors also appears in the news for its role as financial advisor to family-owned and founder-led businesses in strategic transactions. These stories provide insight into Truxton’s advisory capabilities in areas such as healthcare services and behavioral health, and its work on capital solutions that support growth and expansion. For a fuller picture of TRUX, readers can review this news feed to understand how Truxton communicates its financial performance, client focus, and organizational developments over time.
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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.
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 has promoted Andrew J. Ritter to Managing Director of Private Banking, recognizing his long-standing service since 2012 and his trusted role among clients, particularly business owners and commercial real estate investors. In addition to Ritter's promotion, the bank announced new senior management roles for Andrew Mallory, Bryant Tirrill, and Hank Stuart, enhancing its leadership. Chairman and CEO Tom Stumb praised the leadership team's expertise and the high-quality financial advice provided to clients. Truxton Trust Company, established in 2004, specializes in private banking, wealth management, and trust services for affluent individuals and families.
Truxton Trust Company, based in Nashville, has announced leadership changes aimed at enhancing growth and shareholder value. Derrick A. Jones has been appointed as the new President, succeeding Andrew L. May, who will serve as Vice Chairman and remain on the Board. Promotions extend to J. Overton Colton and Julie M. Marr as Executive Vice Presidents, and Austin S. Branstetter as Senior Vice President and CFO. The leadership changes reflect the confidence of the Board in the new executives and aim to maximize Truxton's future success and growth.
Truxton Corporation announced its operating results for the year ending December 31, 2022, revealing a 15% increase in net income to $16.7 million compared to $14.5 million in 2021. Earnings per diluted share rose to $5.75, up from $5.02. The Bank reported a fourth-quarter net income of $4.1 million, slightly up from $4.0 million year-over-year, with a net loan growth exceeding $120 million. Non-interest income, excluding bond losses, reached $4.4 million, primarily driven by wealth management services. However, the net interest margin decreased to 2.83%. Truxton's strong capital position is noted, alongside a dividend payout of $2.36 per share and a share repurchase program.
Truxton Corporation (OTCPK: TRUX) announced a quarterly cash dividend of $0.38 per share, marking a 12% increase over the previous year. This dividend is part of the company's eleventh consecutive year of increases. A special cash dividend of $1.00 per share will also be issued on March 24, 2023. Furthermore, the Board authorized a stock repurchase program allowing the acquisition of up to $5 million of common shares over the next year. The buyback's timing and quantity will depend on various market and performance factors.
Truxton Trust Company has announced the promotion of Daniel Bellet, CFP®, CPFA®, to Vice President and Wealth Advisor. Bellet's dedication to client success and prior experience as an associate wealth advisor since joining in 2022 were highlighted by Managing Director Drew Mallory. This promotion underscores Truxton's commitment to providing high-quality financial advice and fostering strong client relationships. Founded in 2004, Truxton Trust offers tailored financial solutions to wealthy individuals and families globally, while upholding its guiding principle of integrity.
Truxton Trust Company has announced the appointment of Peter E. Deming, CPA, as Senior Vice President and Senior Wealth and Tax Strategist, effective November 1, 2022. Deming brings over 20 years of accounting experience, focusing on tax compliance and consulting for closely held businesses and individuals. His previous role was at Jacobs, Cohen & Associates, PLLC. The company aims to enhance its investment banking services and provide comprehensive tax advice to clients. Truxton Trust, founded in 2004, specializes in private banking and wealth management.
Truxton Corporation (OTCPK: TRUX) has declared a quarterly cash dividend of $0.34 per common share, payable on December 28, 2022, to shareholders of record by December 7, 2022. This decision reflects the company’s commitment to returning value to shareholders. Truxton Trust Company, a subsidiary of Truxton Corporation, specializes in private banking, wealth management, and trust services for affluent individuals and families, emphasizing customized financial solutions since its founding in 2004.