- Truxton Corporation (TRUX, Financial) reports a 17% increase in net income for Q1 2025, totaling $5.1 million.
- Total deposits surged 21% year-over-year, reaching $1.03 billion.
- The company paid a $1.50 dividend per share, including a special $1.00 dividend.
Truxton Corporation (TRUX), the parent company of Truxton Trust Company, has announced its financial results for the first quarter of 2025, ending March 31. The corporation reported a net income attributable to common shareholders of $5.1 million, or $1.75 per diluted share, representing a 17% increase compared to Q1 2024.
Net interest income experienced a significant boost, showing an 18% increase year-over-year as non-interest income rose by 23% to $6.4 million. Wealth management revenue specifically increased by 8% to $5.3 million compared to the same quarter of the previous year. The loan portfolio saw a 6% growth, reaching $702 million, while total deposits soared 21% to $1.03 billion.
The net interest margin for Q1 2025 improved by 28 basis points to 2.90%, from 2.62% in Q1 2024. Truxton maintained a solid capital standing with a Tier 1 leverage ratio of 10.46%. Additionally, the company declared dividends totaling $1.50 per share, which included a $1.00 special cash dividend. Truxton also repurchased 5,000 shares at an average price of $80.00 per share.
Truxton’s Chairman and CEO, Tom Stumb, stated, "We are pleased to start 2025 with another quarter of financial growth led by our core businesses, as we continue to invest in technology and human capital to better serve our clients.”
