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.
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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.
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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.
Truxton Corporation reported a net income of $4.3 million, or $1.49 per diluted share, for Q3 2022, marking a 12% increase from Q3 2021. The bank achieved its highest loan growth, with net loans rising 7% to $606 million. Wealth Management revenue remained stable despite lower asset values, contributing 94% to non-interest income of $4.3 million. The net interest margin improved to 2.95%. Truxton maintained a strong capital position with a Tier 1 leverage ratio of 9.78% and $0 in non-performing assets.
Truxton Trust Company announced its advisory role for BasePoint Health Management, facilitating a $5 million junior debt facility to expand its operations from one to five locations in Dallas, Texas. The funds were raised from accredited investors, and BasePoint aims to enhance access to mental health care for adolescents. Truxton Capital Advisors, a division of Truxton Trust, provided the capital solutions. Truxton Trust offers a range of financial services, catering primarily to wealthy individuals and their businesses.
Truxton Corporation (OTCPK: TRUX) announced a quarterly cash dividend of $0.34 per common share, set to be paid on September 28, 2022. Shareholders must be on record by September 7, 2022. This dividend reflects the company's commitment to providing returns to its investors. Truxton Trust Company, a subsidiary of Truxton Corporation, offers a range of financial services including private banking and wealth management to high-net-worth clients.
