Truxton Corporation Reports Fourth Quarter and Full Year 2025 Results

Rhea-AI Summary

Truxton Corporation (NASDAQ:TRUX) reported fourth-quarter and full-year 2025 results for the period ended December 31, 2025. Fourth-quarter net income attributable to common shareholders was $5.48 million ($1.90 diluted EPS). Full-year net income rose 17% to $21.5 million and diluted EPS increased 18% to $7.46.

Loans grew 21% year-over-year to $814 million at year end and total deposits increased 43% versus December 31, 2024, to $1.24 billion. Net interest margin was 2.97% in Q4 2025.

Positive

• Net income +17% to $21.5 million for FY2025
• Earnings per diluted share +18% to $7.46 in FY2025
• Loans +21% YoY to $814 million and deposits +43% YoY to $1.24 billion
• Net interest margin improved to 2.97% in Q4 2025
• Returned capital: $3.00 dividends per share (incl. $1.00 special) and $923k buybacks

Negative

• Tier 1 leverage ratio declined to 8.77% at 12/31/2025 from 10.63% a year earlier
• Fourth-quarter provision included a $620k reserve against one investment security

NASHVILLE, Tenn., Jan. 29, 2026 (GLOBE NEWSWIRE) -- Truxton Corporation, the parent company for Truxton Trust Company (“Truxton” or “the Bank”) and subsidiaries, announced its operating results for the quarter and full year ended December 31, 2025. Fourth quarter net income attributable to common shareholders was $5.48 million, or $1.90 per diluted share, compared to $4.99 million, or $1.74 per diluted share, for the same quarter in 2024.

For the year ended December 31, 2025, net income increased by 17% to $21.5 million from $18.4 million in 2024. For the year ended December 31, 2025, earnings per diluted share rose to $7.46 from $6.34, an increase of 18% from 2024.

Key Highlights

• Non-interest income was $5.9 million in the fourth quarter of 2025, which was $140 thousand lower than the third quarter of 2025 and $81 thousand over the fourth quarter of 2024. Excluding net losses on the sale of securities in each period of $413 thousand, $0, and $122 thousand, wealth revenue constituted 92% of non-interest income in the fourth quarter of 2025, compared to 94% for the third quarter of 2025 and to 89% for the fourth quarter of 2024.
• Loans increased 13% to $814 million at year end compared to $721 million at September 30, 2025, and were up 21% compared to $670 million at December 31, 2024.
• Total deposits increased by 7% from $1.16 billion at September 30, 2025, to $1.24 billion at December 31, 2025, and were 43% higher in comparison to $866 million at December 31, 2024. Truxton continues to fund much of its growth from a single banking location led by its commitment to provide what it believes is superior deposit operations service and technology.
• Net interest margin for the fourth quarter of 2025 was 2.97%, an increase of 15 basis points from the 2.82% experienced in the quarter ended September 30, 2025, and an increase of 18 basis points from the 2.79% recorded in the quarter ended December 31, 2024. Cost of funds was 2.91% in the fourth quarter of 2025, down from 3.08% in each of the third quarter of 2025 and fourth quarter of 2024.
• Asset quality remains sound at Truxton. The Bank had $106 thousand of non-performing assets at December 31, 2025. Provision for credit loss expense in the fourth quarter of 2025 included a $620 thousand reserve against one investment security held by the Bank.
• Allowance for credit losses on loans, excluding that for unfunded commitments, was $7.4 million at quarter end December 31, 2025, compared to $7.0 million at September 30, 2025, and $6.4 million at December 31, 2024. For those three periods, such allowance amounts were 0.91%, 0.98%, 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 $741 thousand, $650 thousand, and $483 thousand, respectively.  
• The Bank’s capital position remains strong. Its Tier 1 leverage ratio was 8.77% at December 31, 2025, compared to 8.90% at September 30, 2025, and 10.63% at December 31, 2024. Book value per common share was $40.55, $38.51, and $34.42 at December 31, 2025, September 30, 2025, and December 31, 2024, respectively.
• During the twelve months ended December 31, 2025, Truxton Corporation paid dividends of $3.00 per common share, inclusive of a $1.00 special cash dividend, and repurchased 11,700 shares of its common stock for $923 thousand in the aggregate, or an average price of $78.91 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.

Investor Relations Austin Branstetter 615-250-0783 austin.branstetter@truxtontrust.com	Media Relations Swan Burrus 615-250-0773 swan.burrus@truxtontrust.com

Truxton Corporation
Consolidated Balance Sheets
(000's)
(Unaudited)
	December 31, 2025*			September 30, 2025*			December 31, 2024
ASSETS
Cash and due from financial institutions	$	5,425		$	4,575		$	4,225
Interest bearing deposits in other financial institutions		44,880			13,670			25,698
Federal funds sold		6,795			4,369			4,054
Cash and cash equivalents		57,100			22,614			33,977
Time deposits in other financial institutions		-			-			245
Securities available for sale		505,945			529,752			258,322
Allowance for credit losses on securities		(620	)		-			-
Securities available for sale, net		505,325			529,752			258,322
Gross loans		813,554			720,735			669,982
Allowance for credit losses on loans		(7,415	)		(7,035	)		(6,433	)
Net loans		806,139			713,700			663,549
Bank owned life insurance		17,312			17,158			16,722
Restricted equity securities		3,830			3,144			2,272
Premises and equipment, net		2,919			3,005			3,293
Accrued interest receivable		5,959			6,035			4,567
Deferred tax asset, net		3,630			4,187			5,257
Other assets		13,658			14,325			15,577
Total assets	$	1,415,872		$	1,313,920		$	1,003,781
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits
Non-interest bearing	$	142,268		$	130,559		$	126,016
Interest bearing	$	1,097,738			1,028,154		$	740,406
Total deposits		1,240,006			1,158,713			866,422
Swap counterparty cash collateral		930			620			4,230
Federal Home Loan Bank advances		46,000			31,000			8,250
Subordinated debt		-			-			14,426
Other liabilities		12,292			12,790			11,747
Total liabilities		1,299,228			1,203,123			905,075
SHAREHOLDERS' EQUITY
Common stock, $0.10 par value	$	287		$	284		$	286
Additional paid-in capital		29,610			29,217			28,945
Retained earnings		71,084			72,523			61,316
Accumulated other comprehensive income (loss)		(5,821	)		(7,228	)		(10,252	)
Net Income	$	21,484		$	16,001		$	18,411
Total shareholders' equity		116,644			110,797			98,706
Total liabilities and shareholders' equity	$	1,415,872		$	1,313,920		$	1,003,781
*The information is preliminary, unaudited and based on company data available at the time of presentation.

Truxton Corporation
Consolidated Statements of Net Income
(000's)
(Unaudited)
	Three Months Ended												Year To Date
	December 31, 2025*				September 30, 2025*				December 31, 2024*				December 31, 2025*				December 31, 2024
Non-interest income
Wealth management services	$	5,811			$	5,631			$	5,242			$	21,988			$	20,597
Capital advisory fees		15				15				70				1,045				191
Service charges on deposit accounts		91				33				85				343				360
Securities gains (losses), net		(413	)			0				(122	)			(413	)			(335	)
Bank owned life insurance income		154				150				124				590				333
Other		213				183				321				855				973
Total non-interest income		5,871				6,011				5,720				24,408				22,119
Interest income
Loans, including fees	$	11,959			$	11,312			$	10,354			$	44,531			$	41,721
Taxable securities		5,727				5,710				3,039				20,116				11,932
Tax-exempt securities		608				518				217				1,685				834
Interest bearing deposits		256				518				348				1,415				1,475
Federal funds sold		34				41				75				133				288
Total interest income		18,584				18,099				14,033				67,880				56,250
Interest expense
Deposits		8,650				8,710				6,798				31,678				27,854
Short-term borrowings		12				21				90				200				1,294
Long-term borrowings		385				392				85				1,409				164
Subordinated debentures		-				188				188				565				752
Total interest expense		9,047				9,311				7,161				33,852				30,064
Net interest income		9,537				8,788				6,872				34,028				26,186
Provision for credit losses		1,092				266				145				1,869				217
Net interest income after provision for credit losses		8,445				8,522				6,727				32,159				25,969
Total revenue, net		14,316				14,533				12,447				56,567				48,088
Non interest expense
Salaries and employee benefits		4,865				5,121				4,635				20,685				16,652
Occupancy		330				325				326				1,343				1,578
Furniture and equipment		107				107				107				429				300
Data processing		754				520				282				2,095				1,763
Wealth management processing fees		173				212				195				813				838
Advertising and public relations		121				38				96				291				206
Professional services		87				360				247				976				1,337
FDIC insurance assessments		434				274				33				966				423
Other		814				538				291				2,251				2,024
Total non interest expense		7,685				7,495				6,212				29,849				25,121
Income before income taxes		6,631				7,038				6,235				26,718				22,967
Income tax expense		1,148				1,412				1,242				5,234				4,556
Net income	$	5,483			$	5,626			$	4,993			$	21,484			$	18,411
Earnings per share:
Basic	$1.91				$1.96				$1.74				$7.46				$6.35
Diluted	$1.90				$1.95				$1.74				$7.46				$6.34
*The information is preliminary, unaudited and based on company data available at the time of presentation. Totals may not foot due to rounding.

Truxton Corporation
Selected Quarterly Financial data
At Or For The Three Months Ended
(000's)
(Unaudited)
	December 31, 2025*	September 30, 2025*	December 31, 2024*
Per Common Share Data
Net income attributable to common shareholders, per share
Basic	$1.91	$1.96	$1.96
Diluted	$1.90	$1.95	$1.95
Book value per common share	$40.55	$38.51	$34.42
Tangible book value per common share	$40.55	$38.51	$34.42
Basic weighted average common shares	2,803,013	2,800,941	2,787,805
Diluted weighted average common shares	2,805,015	2,803,983	2,792,363
Common shares outstanding at period end	2,876,752	2,876,834	2,867,850
Selected Balance Sheet Data
Tangible common equity (TCE) ratio	8.24%	8.43%	9.83%
Average Loans	$755,332	$705,050	$667,957
Average earning assets (1)	$1,323,048	$1,281,157	$998,861
Average total assets	$1,357,750	$1,309,545	$1,025,415
Average shareholders' equity	$114,010	$104,688	$97,026
Selected Asset Quality Measures
Nonaccrual loans	$96	$97	$0
90+ days past due still accruing	$10	$0	$11
Total nonperforming loans	$106	$97	$11
Total nonperforming assets	$106	$97	$11
Net charge offs (recoveries)	$1	$0	$4
Nonperforming loans to assets	0.01%	0.01%	0.00%
Nonperforming assets to total assets	0.01%	0.01%	0.00%
Nonperforming assets to total loans and other real estate	0.01%	0.01%	0.00%
Allowance for credit losses to total loans	0.91%	0.98%	0.91%
Net charge offs to average loans	0.00%	0.00%	0.00%
Capital Ratios (Bank Subsidiary Only)
Tier 1 leverage	8.77%	8.90%	10.63%
Common equity tier 1	12.93%	13.35%	15.19%
Total risk-based capital	13.81%	14.24%	16.15%
Selected Performance Ratios
Efficiency ratio	47.68%	50.64%	48.45%
Return on average assets (ROA)	1.60%	1.70%	1.94%
Return on average shareholders' equity (ROE)	19.08%	21.32%	20.47%
Return on average tangible common equity (ROTCE)	19.08%	21.32%	20.47%
Net interest margin	2.97%	2.82%	2.79%
*Some information is preliminary, unaudited and based on company data available at the time of presentation.
(1) Average earning assets is the daily average of earning assets. Earning assets consists of loans, mortgage loans held for sale, federal funds sold, deposits with banks, and investment securities.

Truxton Corporation
Yield Tables
For The Periods Indicated
(000's)
(Unaudited)
The following table sets forth the amount of our average balances, interest income or interest expense for each category of interest earning assets and interest bearing liabilities and the average interest rate for interest earning assets and interest bearing liabilities, net interest spread and net interest margin for the periods indicated below:
	Three Months Ended							Three Months Ended							Three Months Ended
	December 31,  2025*							September 30, 2025*							December 31,  2024*
	Average Balances			Rates/ Yields (%)	Interest Income/ Expense			Average Balances			Rates/ Yields (%)	Interest Income/ Expense			Average Balances			Rates/ Yields (%)	Interest Income/ Expense
Earning Assets
Loans	$755,332			6.11	$11,640			$705,050			6.18	$10,988			$667,957			6.08	$10,215
Loan fees	$0			0.17	$319			$0			0.18	$324			$0			0.09	$146
Loans with fees	$755,332			6.28	$11,959			$705,050			6.36	$11,312				667,957		6.17	$10,361
Federal funds sold	$3,551			3.77	$34			$3,688			4.35	$41			$6,232			4.71	$75
Deposits with banks	$29,736			3.42	$256			$47,042			4.37	$518			$28,570			4.85	$348
Investment securities - taxable	$466,611			4.91	$5,727			$464,406			4.92	$5,710			$260,605			4.66	$3,039
Investment securities - tax-exempt	$67,818			5.35	$607			$60,971			5.07	$518			$35,497			3.65	$217
Total Earning Assets	$1,323,048			5.68	$18,583			$1,281,157			5.70	$18,099			$998,861			5.64	$14,040
Non interest earning assets
Allowance for credit losses		(7,236	)						(6,749	)						(6,359	)
Cash and due from banks	$5,845							$5,058							$5,985
Premises and equipment	$2,979							$3,094							$3,305
Accrued interest receivable	$4,527							$4,433							$3,721
Other real estate	$0							$0							$0
Other assets	$38,786							$39,656							$36,453
Unrealized gain (loss) on inv. securities		(10,199	)						(17,104	)						(16,551	)
Total Assets	$1,357,750							$1,309,545							$1,025,415
Interest bearing liabilities
Interest bearing demand	$347,572			3.06	$2,677			$357,704			3.21	$2,894			$329,625			3.26	$2,703
Savings and money market	$263,705			2.59	$1,722			$261,382			2.74	$1,807			$200,257			2.83	$1,427
Time deposits - retail	$10,276			3.22	$84			$11,998			3.35	$101			$13,170			3.39	$112
Time deposits - wholesale	$423,966			3.90	$4,167			$381,887			4.06	$3,908			$228,144			4.46	$2,556
Total interest bearing deposits	$1,045,519			3.28	$8,650			$1,012,971			3.41	$8,710			$771,196			3.51	$6,798
Federal Home Loan Bank advances	$38,554			3.91	$385			$36,467			4.2	$392			$9,554			3.48	$85
Subordinated debt	$0			0.00	$0			$13,743			5.36	$188			$14,520			5.08	$188
Other borrowings	$4,470			1.01	$12			$5,593			4.23	$21			$12,369			4.04	$90
Total borrowed funds	$43,024			3.61	$397			$55,803			4.21	$601			$36,443			3.90	$363
Total interest bearing liabilities	$1,088,543			3.30	$9,047			$1,068,775			3.45	$9,311			$807,639			3.52	$7,161
Net interest rate spread				2.38	$9,536						2.25	$8,788						2.12	$6,879
Non-interest bearing deposits	$145,936							$127,953							$115,593
Other liabilities	$9,261							$7,736							$5,157
Shareholder's equity	$114,010							$104,688							$97,026
Total Liabilities and Shareholder's Equity	$1,357,750							$1,309,152							$1,025,415
Cost of funds				2.91							3.08							3.08
Net interest margin				2.97							2.82							2.79
*The information is preliminary, unaudited and based on company data available at the time of presentation. Totals may not foot due to rounding.
Yield Table Assumptions - Average loan balances are inclusive of nonperforming loans. Yields computed on tax-exempt instruments are on a tax equivalent basis. Net interest spread is calculated as the yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. Net interest margin is the result of net interest income calculated on a tax-equivalent basis divided by average interest earning assets for the period. Changes in net interest income are attributed to either changes in average balances (volume change) or changes in average rates (rate change) for earning assets and sources of funds on which interest is received or paid. Volume change is calculated as change in volume times the previous rate while rate change is change in rate times the previous volume. Changes not due solely to volume or rate changes are allocated to volume change and rate change in proportion to the relationship of the absolute dollar amounts of the change in each category.

Truxton Corporation
Yield Tables
For The Periods Indicated
(000's)
(Unaudited)
The following table sets forth the amount of our average balances, interest income or interest expense for each category of interest earning assets and interest bearing liabilities and the average interest rate for interest earning assets and interest bearing liabilities, net interest spread and net interest margin for the periods indicated below:
	Twelve Months Ended							Twelve Months Ended
	December  31, 2025*							December  31, 2024*
	Average Balances			Rates/ Yields (%)	Interest Income/ Expense			Average Balances			Rates/ Yields (%)	Interest Income/ Expense
Earning Assets
Loans	$710,328			6.13	$43,537			$658,226			6.28	$41,328
Loan fees	$0			0.14	$994			$0			0.08	$504
Loans with fees	$710,328			6.27	$44,531			$658,226			6.36	$41,832
Federal funds sold	$3,235			4.07	$133			$5,592			5.08	$289
Deposits with banks	$34,262			4.13	$1,415			$27,967			5.27	$1,475
Investment securities - taxable	$413,020			4.87	$20,116			$259,313			4.6	$11,931
Investment securities - tax-exempt	$52,435			4.79	$1,685			$34,867			3.57	$834
Total Earning Assets	$1,213,280			5.66	$67,880			$985,965			5.76	$56,361
Non interest earning assets
Allowance for credit losses		(6,828	)						(6,299	)
Cash and due from banks	$8,303							$6,161
Premises and equipment	$3,112							$2,662
Accrued interest receivable	$4,157							$3,730
Other real estate	$0							$0
Other assets	$47,791							$33,513
Unrealized gain (loss) on inv. securities		(15,733	)						(19,553	)
Total Assets	$1,254,082							$1,006,179
Interest bearing liabilities
Interest bearing demand	$340,709			3.08	$10,498			$333,322			3.5	$11,681
Savings and Money Market	$252,782			2.67	$6,755			$183,557			3.33	$6,121
Time deposits - Retail	$11,974			3.35	$401			$14,275			3.41	$486
Time Deposits - Wholesale	$342,349			4.1	$14,024			$207,457			4.61	$9,566
Total interest bearing deposits	$947,814			3.34	$31,678			$738,611			3.77	$27,854
Federal home Loan Bank advances	$34,045			4.08	$1,409			$5,476			2.95	$164
Subordinated debt	$10,703			5.21	$565			$14,565			5.08	$752
Other borrowings	$7,640			2.49	$200			$31,032			4.41	$1,294
Total borrowed funds	$52,388			4.09	$2,174			$51,073			4.26	$2,210
Total interest bearing liabilities	$1,000,202			3.88	$33,852			$789,685			3.80	$30,064
Net interest rate spread				2.28	$34,028						1.95	$26,297
Non-interest bearing deposits	$134,756							$119,150
Other liabilities	$6,723							$4,424
Shareholder's equity	$112,615							$92,920
Total Liabilities and Shareholder's Equity	$1,254,296							$1,006,179
Cost of funds				2.98							3.30
Net interest margin				2.88							2.71
*The information is preliminary, unaudited and based on company data available at the time of presentation.
Yield Table Assumptions - Average loan balances are inclusive of nonperforming loans. Yields computed on tax-exempt instruments are on a tax equivalent basis. Net interest spread is calculated as the yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. Net interest margin is the result of net interest income calculated on a tax-equivalent basis divided by average interest earning assets for the period. Changes in net interest income are attributed to either changes in average balances (volume change) or changes in average rates (rate change) for earning assets and sources of funds on which interest is received or paid. Volume change is calculated as change in volume times the previous rate while rate change is change in rate times the previous volume. Changes not due solely to volume or rate changes are allocated to volume change and rate change in proportion to the relationship of the absolute dollar amounts of the change in each category.

FAQ

What were Truxton (TRUX) fourth-quarter 2025 earnings and EPS?

Truxton reported Q4 2025 net income of $5.48 million and diluted EPS of $1.90. According to the company, Q4 results compare to $4.99 million and $1.74 per diluted share in Q4 2024, reflecting improved profitability year-over-year.

How did Truxton's loans and deposits change by December 31, 2025?

Loans increased to $814 million, up 21% versus December 31, 2024. According to the company, total deposits were $1.24 billion at year end, a 43% increase from $866 million a year earlier, supporting funded growth.

What was Truxton's net interest margin and cost of funds in Q4 2025?

Net interest margin was 2.97% in Q4 2025 and cost of funds was 2.91%. According to the company, NIM rose 15 basis points sequentially and 18 basis points year-over-year, while cost of funds decreased from 3.08%.

Did Truxton return capital to shareholders in 2025 and how much?

Truxton paid $3.00 per common share in dividends, including a $1.00 special dividend, and repurchased 11,700 shares for $923 thousand. According to the company, these actions reflect cash returns and modest share repurchases in 2025.

Are there any asset quality or capital concerns in Truxton's 2025 results?

Asset quality remained sound with $106 thousand of non-performing assets, but Tier 1 leverage fell to 8.77% at year end. According to the company, the quarter included a $620k reserve for one investment security and higher allowance balances.