Truxton Corporation Reports Second Quarter 2025 Results
Truxton Corporation (TRUX) reported strong Q2 2025 financial results, with net income reaching $5.3 million, or $1.84 per diluted share, representing an 18% and 19% increase respectively from Q2 2024. The company achieved record quarterly earnings, 5% higher than the previous quarter.
Key metrics include non-interest income of $6.1 million, wealth management revenue of $5.2 million, and total deposits increasing by 2% to $1.05 billion. The net interest margin improved to 2.92%, while loans slightly declined by 1% to $692 million. The bank maintained a strong capital position with a Tier 1 leverage ratio of 9.36% and increased book value per share to $35.75.
Truxton Corporation (TRUX) ha riportato solidi risultati finanziari nel secondo trimestre del 2025, con un utile netto di 5,3 milioni di dollari, pari a 1,84 dollari per azione diluita, registrando un aumento rispettivamente del 18% e del 19% rispetto al secondo trimestre del 2024. L'azienda ha raggiunto un utile trimestrale record, 5% superiore rispetto al trimestre precedente.
I principali indicatori includono un reddito non da interessi di 6,1 milioni di dollari, ricavi dalla gestione patrimoniale di 5,2 milioni di dollari e un aumento totale dei depositi del 2%, arrivando a 1,05 miliardi di dollari. Il margine di interesse netto è migliorato al 2,92%, mentre i prestiti sono leggermente diminuiti dell'1%, attestandosi a 692 milioni di dollari. La banca ha mantenuto una solida posizione patrimoniale con un rapporto di leva Tier 1 del 9,36% e un valore contabile per azione aumentato a 35,75 dollari.
Truxton Corporation (TRUX) reportó sólidos resultados financieros en el segundo trimestre de 2025, con un ingreso neto de 5,3 millones de dólares, o 1,84 dólares por acción diluida, lo que representa un aumento del 18% y 19% respectivamente respecto al segundo trimestre de 2024. La compañía alcanzó ganancias trimestrales récord, 5% superiores al trimestre anterior.
Las métricas clave incluyen ingresos no por intereses de 6,1 millones de dólares, ingresos por gestión patrimonial de 5,2 millones de dólares y un aumento total de depósitos del 2% hasta 1,05 mil millones de dólares. El margen neto de interés mejoró a 2,92%, mientras que los préstamos disminuyeron ligeramente un 1%, situándose en 692 millones de dólares. El banco mantuvo una fuerte posición de capital con una ratio de apalancamiento Tier 1 de 9,36% y un valor contable por acción incrementado a 35,75 dólares.
Truxton Corporation (TRUX)는 2025년 2분기에 강력한 재무 실적을 보고했으며, 순이익은 530만 달러, 희석 주당순이익은 1.84달러로 2024년 2분기 대비 각각 18%, 19% 증가했습니다. 회사는 전 분기 대비 5% 상승한 분기별 최고 수익을 달성했습니다.
주요 지표로는 비이자 수익이 610만 달러, 자산 관리 수익이 520만 달러, 총 예금은 2% 증가하여 10억 5천만 달러에 달했습니다. 순이자마진은 2.92%로 개선되었으며, 대출은 1% 소폭 감소하여 6억 9,200만 달러를 기록했습니다. 은행은 9.36%의 Tier 1 레버리지 비율을 유지하며, 주당 장부가치는 35.75달러로 증가했습니다.
Truxton Corporation (TRUX) a annoncé de solides résultats financiers pour le deuxième trimestre 2025, avec un bénéfice net atteignant 5,3 millions de dollars, soit 1,84 dollar par action diluée, ce qui représente une augmentation de 18 % et 19 % respectivement par rapport au deuxième trimestre 2024. La société a enregistré un bénéfice trimestriel record, 5 % supérieur au trimestre précédent.
Les indicateurs clés incluent un revenu hors intérêts de 6,1 millions de dollars, des revenus en gestion de patrimoine de 5,2 millions de dollars, et une augmentation totale des dépôts de 2 % à 1,05 milliard de dollars. La marge nette d’intérêt s’est améliorée à 2,92 %, tandis que les prêts ont légèrement diminué de 1 % pour atteindre 692 millions de dollars. La banque a maintenu une solide position en capital avec un ratio de levier Tier 1 de 9,36 % et une valeur comptable par action en hausse à 35,75 dollars.
Truxton Corporation (TRUX) meldete starke Finanzergebnisse für das zweite Quartal 2025, mit einem Nettogewinn von 5,3 Millionen US-Dollar bzw. 1,84 US-Dollar je verwässerter Aktie, was einer Steigerung von 18 % bzw. 19 % gegenüber dem zweiten Quartal 2024 entspricht. Das Unternehmen erzielte einen Rekordquartalsgewinn, 5 % höher als im Vorquartal.
Wichtige Kennzahlen umfassen Zinserträge ohne Zinsen in Höhe von 6,1 Millionen US-Dollar, Einnahmen aus Vermögensverwaltung von 5,2 Millionen US-Dollar und eine Gesamteinlagensteigerung von 2 % auf 1,05 Milliarden US-Dollar. Die Nettomarge verbesserte sich auf 2,92 %, während die Kredite leicht um 1 % auf 692 Millionen US-Dollar zurückgingen. Die Bank hielt eine starke Kapitalposition mit einer Tier-1-Leverage-Ratio von 9,36 % und steigerte den Buchwert je Aktie auf 35,75 US-Dollar.
- Net income increased by 18% year-over-year to $5.3 million
- Total deposits grew 25% year-over-year to $1.05 billion
- Net interest margin improved to 2.92%, up 17 basis points year-over-year
- Book value per share increased to $35.75 from $31.85 year-over-year
- Cost of funds decreased to 3.01% from 3.32% year-over-year
- Loans declined 1% quarter-over-quarter to $692 million
- Wealth management revenue decreased 2% quarter-over-quarter
- Tier 1 leverage ratio declined to 9.36% from 10.46% in previous quarter
NASHVILLE, Tenn., July 24, 2025 (GLOBE NEWSWIRE) -- Truxton Corporation, the parent company for Truxton Trust Company (“Truxton” or “the Bank”) and subsidiaries, announced its operating results for the quarter ended June 30, 2025. Second quarter net income attributable to common shareholders was
“Truxton’s second quarter 2025 performance was encouraging,” said Chairman and CEO Tom Stumb. “We achieved a new high in quarterly earnings,
Key Highlights
- Non-interest income totaled
$6.1 million in the second quarter of 2025, which was$240 thousand lower than the first quarter of 2025 and$604 thousand over the second quarter of 2024. Wealth revenue in the second quarter of 2025 was$5.2 million , down2% from the first quarter of 2025 and flat with the second quarter of 2024. Other non-interest income was elevated as a result of a Truxton Capital Advisors fee associated with a successful debt recapitalization engagement. - Loans declined
1% to$692 million at quarter end compared to$702 million on March 31, 2025, and were up7% compared to$648 million on June 30, 2024. Average loans balances were$2.3 million higher in the second quarter than the first quarter of 2025. - Total deposits increased
2% from$1.03 billion at March 31, 2025, to$1.05 billion at June 30, 2025, and were25% higher in comparison to$840 million at June 30, 2024. Truxton continues to fund its growth from a single banking location led by its commitment to provide what Truxton believes are superior deposit operations service and technology. - Net interest margin for the second quarter of 2025 was
2.92% , an increase of 2 basis points from the2.90% experienced in the quarter ended March 31, 2025, and an increase of 17 basis points from the2.75% in the quarter ended June 30, 2024. Cost of funds was3.01% in the second quarter of 2025, up from2.91% for the quarter ended March 31, 2025, and down from3.32% for the quarter ended June 30, 2024. - Allowance for credit losses, excluding that for unfunded commitments, was
$6.7 million at quarter end June 30, 2025, compared to$6.7 million at March 31, 2025, and$6.2 million at June 30, 2024. For those three periods, such allowance amounts were0.97% ,0.96% , and0.96% of gross loans outstanding at the respective period end. For the same three periods, the Bank’s allowance for unfunded commitments was$729 thousand ,$589 thousand , and$438 thousand , respectively. - The Bank’s capital position remains strong. Its Tier 1 leverage ratio was
9.36% at June 30, 2025, compared to10.46% at March 31, 2025, and10.45% at June 30, 2024. Book value per common share was$35.75 ,$34.46 , and$31.85 at June 30, 2025, March 31, 2025, and June 30, 2024, respectively. - During the six months ended June 30, 2025, Truxton Corporation paid dividends of
$2.00 per common share, inclusive of a$1.00 special cash dividend, and repurchased 11,700 shares of its common stock for$923 thousand in aggregate, or an average price of$78.85 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) | |||||||||
| June 30, 2025* | March 31, 2025* | June 30, 2024* | |||||||
| ASSETS | |||||||||
| Cash and due from financial institutions | $ | 5,803 | $ | 10,704 | $ | 8,494 | |||
| Interest bearing deposits in other financial institutions | 20,192 | 24,642 | 3,851 | ||||||
| Federal funds sold | 64 | 10,231 | - | ||||||
| Cash and cash equivalents | 26,059 | 45,577 | 12,345 | ||||||
| Time deposits in other financial institutions | 245 | 245 | 490 | ||||||
| Securities available for sale | 492,758 | 414,190 | 286,977 | ||||||
| Gross loans | 692,120 | 701,660 | 648,338 | ||||||
| Allowance for credit losses | (6,689 | ) | (6,708 | ) | (6,234 | ) | |||
| Net loans | 685,431 | 694,952 | 642,104 | ||||||
| Bank owned life insurance | 17,009 | 16,863 | 11,512 | ||||||
| Restricted equity securities | 4,977 | 3,718 | 1,802 | ||||||
| Premises and equipment, net | 3,091 | 3,176 | 3,406 | ||||||
| Accrued interest receivable | 5,574 | 4,989 | 4,744 | ||||||
| Deferred tax asset, net | 5,389 | 5,297 | 5,386 | ||||||
| Other assets | 16,191 | 14,440 | 16,633 | ||||||
| Total assets | $ | 1,256,724 | $ | 1,203,447 | $ | 985,399 | |||
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||
| Deposits | |||||||||
| Non-interest bearing | $ | 129,228 | $ | 127,851 | $ | 115,699 | |||
| Interest bearing | 919,238 | $ | 900,489 | 724,251 | |||||
| Total deposits | 1,048,466 | 1,028,340 | 839,950 | ||||||
| Federal funds purchased | - | - | 283 | ||||||
| Swap counterparty cash collateral | 1,780 | 2,790 | 5,000 | ||||||
| Federal Home Loan Bank advances | 72,000 | 45,000 | 2,250 | ||||||
| Federal Reserve Bank Discount window advances | 4,324 | 2,400 | 20,000 | ||||||
| Subordinated debt | 14,638 | 14,439 | 14,213 | ||||||
| Other liabilities | 12,666 | 11,154 | 10,919 | ||||||
| Total liabilities | 1,153,874 | 1,104,123 | 892,615 | ||||||
| SHAREHOLDERS' EQUITY | |||||||||
| Common stock, | $ | 284 | $ | 284 | $ | 290 | |||
| Additional paid-in capital | 28,857 | 28,957 | 31,381 | ||||||
| Retained earnings | 73,961 | 75,396 | 63,782 | ||||||
| Accumulated other comprehensive income (loss) | (10,626 | ) | (10,365 | ) | (11,517 | ) | |||
| Net Income | $ | 10,374 | $ | 5,052 | $ | 8,848 | |||
| Total shareholders' equity | 102,850 | 99,324 | 92,784 | ||||||
| Total liabilities and shareholders' equity | $ | 1,256,724 | $ | 1,203,447 | $ | 985,399 | |||
| *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 | ||||||||||||||||||
| June 30, 2025* | March 31, 2025* | June 30, 2024* | June 30, 2025* | June 30, 2024* | |||||||||||||||
| Non-interest income | |||||||||||||||||||
| Wealth management services | $ | 5,208 | $ | 5,338 | $ | 5,206 | $ | 10,546 | $ | 10,113 | |||||||||
| Capital advisory fees | 459 | 555 | 40 | 1,014 | 80 | ||||||||||||||
| Service charges on deposit accounts | 35 | 45 | 91 | 80 | 182 | ||||||||||||||
| Securities gains (losses), net | 0 | 0 | (213 | ) | 0 | (213 | ) | ||||||||||||
| Bank owned life insurance income | 147 | 141 | 62 | 288 | 120 | ||||||||||||||
| Other | 288 | 297 | 347 | 584 | 388 | ||||||||||||||
| Total non-interest income | 6,136 | 6,376 | 5,532 | 12,512 | 10,670 | ||||||||||||||
| Interest income | |||||||||||||||||||
| Loans, including fees | $ | 10,882 | $ | 10,378 | $ | 10,511 | $ | 21,260 | $ | 20,895 | |||||||||
| Taxable securities | 5,308 | 3,371 | 2,933 | 8,679 | 5,532 | ||||||||||||||
| Tax-exempt securities | 377 | 182 | 207 | 559 | 395 | ||||||||||||||
| Interest bearing deposits | 325 | 331 | 408 | 656 | 639 | ||||||||||||||
| Federal funds sold | 24 | 34 | 60 | 58 | 101 | ||||||||||||||
| Total interest income | 16,916 | 14,296 | 14,119 | 31,212 | 27,559 | ||||||||||||||
| Interest expense | |||||||||||||||||||
| Deposits | 7,719 | 6,599 | 6,939 | 14,318 | 13,389 | ||||||||||||||
| Short-term borrowings | 108 | 60 | 327 | 168 | 945 | ||||||||||||||
| Long-term borrowings | 433 | 199 | 13 | 632 | 28 | ||||||||||||||
| Subordinated debentures | 188 | 188 | 188 | 376 | 376 | ||||||||||||||
| Total interest expense | 8,448 | 7,046 | 7,467 | 15,494 | 14,737 | ||||||||||||||
| Net interest income | 8,468 | 7,250 | 6,652 | 15,718 | 12,822 | ||||||||||||||
| Provision for credit losses | 120 | 390 | (27 | ) | 510 | (33 | ) | ||||||||||||
| Net interest income after provision for loan losses | 8,348 | 6,860 | 6,679 | 15,208 | 12,855 | ||||||||||||||
| Total revenue, net | 14,484 | 13,236 | 12,211 | 27,720 | 23,525 | ||||||||||||||
| Non interest expense | |||||||||||||||||||
| Salaries and employee benefits | 5,655 | 5,045 | 3,897 | 10,700 | 7,802 | ||||||||||||||
| Occupancy | 336 | 351 | 484 | 687 | 937 | ||||||||||||||
| Furniture and equipment | 106 | 109 | 73 | 215 | 77 | ||||||||||||||
| Data processing | 413 | 407 | 439 | 820 | 857 | ||||||||||||||
| Wealth management processing fees | 213 | 214 | 208 | 428 | 422 | ||||||||||||||
| Advertising and public relations | 79 | 53 | 48 | 132 | 82 | ||||||||||||||
| Professional services | 306 | 222 | 272 | 529 | 481 | ||||||||||||||
| FDIC insurance assessments | 150 | 108 | 120 | 258 | 310 | ||||||||||||||
| Other | 429 | 473 | 1,048 | 902 | 1,498 | ||||||||||||||
| Total non interest expense | 7,687 | 6,982 | 6,589 | 14,671 | 12,466 | ||||||||||||||
| Income before income taxes | 6,796 | 6,254 | 5,621 | 13,048 | 11,059 | ||||||||||||||
| Income tax expense | 1,473 | 1,202 | 1,107 | 2,674 | 2,211 | ||||||||||||||
| Net income | $ | 5,323 | $ | 5,052 | $ | 4,514 | $ | 10,374 | $ | 8,848 | |||||||||
| Earnings per share: | |||||||||||||||||||
| Basic | $ | 1.85 | $ | 1.75 | $ | 1.55 | $ | 3.60 | $ | 3.03 | |||||||||
| Diluted | $ | 1.84 | $ | 1.75 | $ | 1.55 | $ | 3.59 | $ | 3.03 | |||||||||
| *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) | |||||||||
| June 30, 2025* | March 31, 2025* | June 30, 2024* | |||||||
| Per Common Share Data | |||||||||
| Net income attributable to shareholders, per share: | |||||||||
| Basic | $ | 1.85 | $ | 1.75 | $ | 1.75 | |||
| Diluted | $ | 1.84 | $ | 1.75 | $ | 1.75 | |||
| Book value per common share | $ | 35.75 | $ | 34.46 | $ | 31.85 | |||
| Tangible book value per common share | $ | 35.75 | $ | 34.46 | $ | 31.85 | |||
| Basic weighted average common shares | 2,806,478 | 2,793,834 | 2,834,023 | ||||||
| Diluted weighted average common shares | 2,809,382 | 2,797,388 | 2,839,086 | ||||||
| Common shares outstanding at period end | 2,876,939 | 2,882,241 | 2,913,478 | ||||||
| Selected Balance Sheet Data | |||||||||
| Tangible common equity (TCE) ratio | 8.18 | % | 8.25 | % | 9.42 | % | |||
| Average Loans | $ | 693,657 | $ | 691,360 | $ | 10,609 | |||
| Average earning assets (1) | $ | 1,202,098 | $ | 1,047,778 | $ | 17,019 | |||
| Average total assets | $ | 1,229,218 | $ | 1,085,506 | $ | 0 | |||
| Average shareholders' equity | $ | 100,500 | $ | 99,923 | $ | 0 | |||
| Selected Asset Quality Measures | |||||||||
| Nonaccrual loans | $ | 0 | $ | 0 | $ | 0 | |||
| 90+ days past due still accruing | $ | 0 | $ | 0 | $ | 0 | |||
| Total nonperforming loans | $ | 0 | $ | 0 | $ | 0 | |||
| Total nonperforming assets | $ | 0 | $ | 0 | $ | 0 | |||
| Net charge offs (recoveries) | $ | 0 | $ | 8 | ($ | 1 | ) | ||
| Nonperforming loans to assets | 0.00 | % | 0.00 | % | 0.00 | % | |||
| Nonperforming assets to total assets | 0.00 | % | 0.00 | % | 0.00 | % | |||
| Nonperforming assets to total loans and other real estate | 0.00 | % | 0.00 | % | 0.00 | % | |||
| Allowance for credit losses to total loans** | 0.97 | % | 0.96 | % | 0.96 | % | |||
| Net charge offs to average loans | 0.00 | % | 0.00 | % | -0.01 | % | |||
| Capital Ratios (Bank Subsidiary Only) | |||||||||
| Tier 1 leverage | 9.36 | % | 10.46 | % | 10.45 | % | |||
| Common equity tier 1 | 13.64 | % | 13.82 | % | 14.62 | % | |||
| Total risk-based capital | 14.53 | % | 14.73 | % | 15.54 | % | |||
| Selected Performance Ratios | |||||||||
| Efficiency ratio | 52.64 | % | 51.24 | % | 52.72 | % | |||
| Return on average assets (ROA) | 1.74 | % | 1.89 | % | 1.82 | % | |||
| Return on average shareholders' equity (ROE) | 21.24 | % | 20.50 | % | 19.97 | % | |||
| Return on average tangible common equity (ROTCE) | 21.24 | % | 20.50 | % | 19.97 | % | |||
| Net interest margin | 2.92 | % | 2.90 | % | 2.75 | % | |||
| *The information is preliminary, unaudited and based on company data available at the time of presentation. | |||||||||
| **Ratios do not include reserve for unfunded commitments | |||||||||
| (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 | |||||||||||||||||||
| June 30, 2025* | March 31, 2025* | June 30, 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 | $ | 693,657 | 6.13 | $ | 10,609 | $ | 691,360 | 6.04 | $ | 10,300 | $ | 655,486 | 6.34 | $ | 10,332 | ||||||
| Loan fees | $ | 0 | 0.22 | $ | 375 | $ | 0 | 0.16 | $ | 271 | $ | 0 | 0.08 | $ | 127 | ||||||
| Loans with fees | $ | 693,657 | 6.35 | $ | 10,984 | 0 | $ | 691,360 | 6.2 | $ | 10,571 | 0 | $ | 655,486 | 6.42 | $ | 10,459 | ||||
| Mortgage loans held for sale | $ | 0 | 0.00 | $ | 0 | $ | 0 | 0.00 | $ | 0 | $ | 0 | 0.00 | $ | 0 | ||||||
| Federal funds sold | $ | 2,385 | 3.98 | $ | 24 | $ | 3,308 | 4.15 | $ | 34 | $ | 4,476 | 5.32 | $ | 60 | ||||||
| Deposits with banks | $ | 30,373 | 4.29 | $ | 325 | $ | 29,756 | 4.51 | $ | 331 | $ | 27,887 | 5.88 | $ | 408 | ||||||
| Investment securities - taxable | $ | 427,467 | 4.97 | $ | 5,308 | $ | 291,104 | 4.63 | $ | 3,371 | $ | 257,470 | 4.56 | $ | 2,933 | ||||||
| Investment securities - tax-exempt | $ | 48,216 | 4.67 | $ | 378 | $ | 32,250 | 3.37 | $ | 182 | $ | 34,804 | 3.56 | $ | 207 | ||||||
| Total Earning Assets | $ | 1,202,098 | 5.74 | $ | 17,019 | $ | 1,047,778 | 5.62 | $ | 14,489 | $ | 980,123 | 5.81 | $ | 14,067 | ||||||
| Non interest earning assets | |||||||||||||||||||||
| Allowance for loan losses | (6,705 | ) | (6,618 | ) | (6,306 | ) | |||||||||||||||
| Cash and due from banks | $ | 5,148 | $ | 17,307 | $ | 6,856 | |||||||||||||||
| Premises and equipment | $ | 3,129 | $ | 3,249 | $ | 2,698 | |||||||||||||||
| Accrued interest receivable | $ | 4,049 | $ | 3,608 | $ | 3,975 | |||||||||||||||
| Other real estate | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||
| Other assets | $ | 39,926 | $ | 37,447 | $ | 32,919 | |||||||||||||||
| Unrealized gain (loss) on inv. securities | (18,427 | ) | (17,265 | ) | (21,466 | ) | |||||||||||||||
| Total Assets | $ | 1,229,218 | $ | 1,085,506 | $ | 998,799 | |||||||||||||||
| Interest bearing liabilities | |||||||||||||||||||||
| Interest bearing demand | $ | 330,353 | 3.01 | $ | 2,480 | $ | 326,793 | 3.04 | $ | 2,448 | $ | 340,187 | 3.62 | $ | 3,062 | ||||||
| Savings and money market | $ | 256,265 | 2.72 | $ | 1,740 | $ | 229,304 | 2.63 | $ | 1,486 | $ | 175,264 | 3.55 | $ | 1,546 | ||||||
| Time deposits - retail | $ | 12,687 | 3.17 | $ | 100 | $ | 12,965 | 3.61 | $ | 115 | $ | 14,887 | 3.4 | $ | 126 | ||||||
| Time deposits - wholesale | $ | 319,443 | 4.27 | $ | 3,398 | $ | 241,662 | 4.28 | $ | 2,550 | $ | 201,005 | 4.41 | $ | 2,205 | ||||||
| Total interest bearing deposits | $ | 918,748 | 3.37 | $ | 7,718 | $ | 810,724 | 3.3 | $ | 6,599 | $ | 731,343 | 3.82 | $ | 6,939 | ||||||
| Federal Home Loan Bank advances | $ | 40,560 | 4.23 | $ | 433 | $ | 20,369 | 3.9 | $ | 199 | $ | 3,173 | 1.64 | $ | 13 | ||||||
| Subordinated debt | $ | 14,536 | 5.12 | $ | 188 | $ | 14,687 | 5.09 | $ | 188 | $ | 14,471 | 5.14 | $ | 188 | ||||||
| Other borrowings | $ | 11,290 | 4.55 | $ | 108 | $ | 9,419 | 4.12 | $ | 60 | $ | 30,973 | 4.18 | $ | 327 | ||||||
| Total borrowed funds | $ | 66,386 | 4.35 | $ | 729 | $ | 44,475 | 4.02 | $ | 447 | $ | 48,617 | 4.30 | $ | 528 | ||||||
| Total interest bearing liabilities | $ | 985,036 | 3.44 | $ | 8,448 | $ | 855,199 | 3.34 | $ | 7,046 | $ | 779,960 | 3.85 | $ | 7,467 | ||||||
| Net interest rate spread | 2.30 | $ | 8,571 | 2.28 | $ | 7,443 | 1.96 | $ | 6,600 | ||||||||||||
| Non-interest bearing deposits | $ | 138,929 | $ | 126,049 | $ | 124,029 | |||||||||||||||
| Other liabilities | $ | 4,753 | $ | 4,335 | $ | 3,881 | |||||||||||||||
| Shareholder's equity | $ | 100,500 | $ | 99,923 | $ | 90,929 | |||||||||||||||
| Total Liabilities and Shareholder's Equity | $ | 1,229,218 | $ | 1,085,506 | $ | 998,799 | |||||||||||||||
| Cost of funds | 3.01 | 2.91 | 3.32 | ||||||||||||||||||
| Net interest margin | 2.92 | 2.90 | 2.75 | ||||||||||||||||||
| *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: | |||||||||||||||
| Six Months Ended | Six Months Ended | ||||||||||||||
| June 30, 2025* | June 30, 2024* | ||||||||||||||
| Average Balances | Rates/ Yields (%) | Interest Income/ Expense | Average Balances | Rates/ Yields (%) | Interest Income/ Expense | ||||||||||
| Earning Assets | |||||||||||||||
| Loans | $ | 692,515 | 6.09 | $ | 20,909 | $ | 656,138 | 6.31 | $ | 20,593 | |||||
| Loan fees | $ | 0 | 0.19 | $ | 646 | $ | 0 | 0.07 | $ | 223 | |||||
| Loans with fees | $ | 692,515 | 6.28 | $ | 21,555 | $ | 656,138 | 6.38 | $ | 20,816 | |||||
| Mortgage loans held for sale | $ | 0 | 0.00 | $ | 0 | $ | 0 | 0.00 | $ | 0 | |||||
| Federal funds sold | $ | 2,844 | 4.08 | $ | 58 | $ | 3,865 | 5.16 | $ | 101 | |||||
| Deposits with banks | $ | 30,066 | 4.4 | $ | 656 | $ | 23,712 | 5.41 | $ | 638 | |||||
| Investment securities - taxable | $ | 359,662 | 4.83 | $ | 8,679 | $ | 251,493 | 4.4 | $ | 5,532 | |||||
| Investment securities - tax-exempt | $ | 40,277 | 4.15 | $ | 559 | $ | 33,922 | 3.48 | $ | 395 | |||||
| Total Earning Assets | $ | 1,125,364 | 5.68 | $ | 31,507 | $ | 969,130 | 5.74 | $ | 27,482 | |||||
| Non interest earning assets | |||||||||||||||
| Allowance for loan losses | (6,662 | ) | (6,308 | ) | |||||||||||
| Cash and due from banks | $ | 5,740 | $ | 6,064 | |||||||||||
| Premises and equipment | $ | 3,189 | $ | 1,979 | |||||||||||
| Accrued interest receivable | $ | 3,829 | $ | 3,726 | |||||||||||
| Other real estate | $ | 0 | $ | 0 | |||||||||||
| Other assets | $ | 38,986 | $ | 31,706 | |||||||||||
| Unrealized gain (loss) on inv. securities | (17,850 | ) | (21,784 | ) | |||||||||||
| Total Assets | $ | 1,152,596 | $ | 984,513 | |||||||||||
| Interest bearing liabilities | |||||||||||||||
| Interest bearing demand | $ | 328,583 | 3.02 | $ | 5,961 | $ | 335,265 | 3.58 | $ | 5,961 | |||||
| Savings and Money Market | $ | 242,859 | 2.68 | $ | 2,920 | $ | 168,952 | 3.48 | $ | 2,920 | |||||
| Time deposits - Retail | $ | 12,825 | 3.39 | $ | 259 | $ | 15,222 | 3.42 | $ | 259 | |||||
| Time Deposits - Wholesale | $ | 280,768 | 4.27 | $ | 4,249 | $ | 187,287 | 4.56 | $ | 4,249 | |||||
| Total interest bearing deposits | $ | 865,035 | 3.34 | $ | 13,389 | $ | 706,726 | 3.81 | $ | 13,389 | |||||
| Federal home Loan Bank advances | $ | 30,521 | 4.12 | $ | 632 | $ | 3,287 | 1.67 | $ | 28 | |||||
| Subordinated debt | $ | 14,611 | 5.13 | $ | 377 | $ | 14,541 | 5.11 | $ | 376 | |||||
| Other borrowings | $ | 10,309 | 4.34 | $ | 945 | $ | 44,016 | 4.25 | $ | 944 | |||||
| Total borrowed funds | $ | 55,441 | 4.22 | $ | 1,954 | $ | 61,844 | 4.31 | $ | 1,348 | |||||
| Total interest bearing liabilities | $ | 920,476 | 3.39 | $ | 15,343 | $ | 768,570 | 3.85 | $ | 14,737 | |||||
| Net interest rate spread | 2.29 | $ | 16,164 | 1.89 | $ | 12,745 | |||||||||
| Non-interest bearing deposits | $ | 127,070 | $ | 121,419 | |||||||||||
| Other liabilities | $ | 4,886 | $ | 4,339 | |||||||||||
| Shareholder's equity | $ | 100,164 | $ | 90,185 | |||||||||||
| Total Liabilities and Shareholder's Equity | $ | 1,152,596 | $ | 984,513 | |||||||||||
| Cost of funds | 2.96 | 3.32 | |||||||||||||
| Net interest margin | 2.91 | 2.68 | |||||||||||||
| *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
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