TRUXTON CORP - TRUX STOCK NEWS

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.

Truxton Corporation reported strong Q2 2022 results with net income of $4.1 million, or $1.41 per diluted share, marking a 16% increase from Q2 2021. Wealth management revenue rose 9% year-over-year. The bank achieved record loan growth, with total loans increasing 11% from Q1 2022 and 25% from Q2 2021. However, the company anticipates ongoing market turbulence could challenge earnings in the latter half of the year. The capital position remains solid, with a Tier 1 leverage ratio of 9.63% and zero non-performing assets.

Truxton Corporation (OTCPK: TRUX) has been named one of the top 200 best-performing banks in the U.S. by American Banker, marking its tenth consecutive year on the list. The Nashville-based financial holding company achieved a 3-year return on average equity (ROAE) of 16.7%, ranking 19th overall. In 2021, Truxton recorded its highest ROAE at 18.26%. This recognition underscores the bank's commitment to exceptional client service and strong performance.

Truxton Trust Company has announced the election of R. Claiborne Richards, Jr. and Derek Young to its Board of Directors during its annual shareholder meeting on May 24, 2022. Richards, former CEO and Founder of naviHealth, brings extensive healthcare experience, having led the company until its acquisition by United Health Group in 2020. Young, a corporate culture consultant, offers expertise in leadership and diversity. Chairman Tom Stumb emphasized the value of their leadership in enhancing the company's growth and service offerings in private banking, wealth management, and trust services.

Truxton Trust has appointed Derrick Jones to focus on Corporate Development, while continuing his role as counsel for the Wealth Management team. Under his leadership, the firm established a successful bank-owned wealth management operation over the past 17 years. CEO Tom Stumb highlighted the intent to replicate this success across the organization. Additionally, Drew Mallory has been named Chief Fiduciary Officer, and three new Managing Directors have joined the Wealth Management division, reinforcing Truxton’s commitment to strategic growth.

Truxton Trust has promoted Buck Patton to Vice President and Wealth Advisor, along with Mitch Van Zelfden, who has been named Vice President and Portfolio Manager. Derrick Jones, Senior Managing Director, emphasized that both promotions reflect the firm’s commitment to personalized financial advice and investment excellence. Since joining in 2018, Patton has excelled as a strategic thought leader, while Van Zelfden has strengthened investment processes. Founded in 2004, Truxton Trust Company serves wealthy individuals with comprehensive financial solutions and is a subsidiary of Truxton Corporation (OTCPK: TRUX).

Truxton Corporation (OTCPK: TRUX) announced a quarterly cash dividend of $0.34 per common share, set to be paid on June 24, 2022, to shareholders of record by June 8, 2022. This decision underscores the company’s commitment to returning value to shareholders amidst its operations as a financial holding company and parent of Truxton Trust Company. Truxton Trust specializes in private banking, wealth management, and family office services, tailored for wealthy individuals and their business interests.

Truxton Corporation reported strong first-quarter results for 2022, achieving a net income of $4.2 million or $1.45 per diluted share, a 37% increase from the same period in 2021. Non-interest income rose by 23% year-over-year to $4.4 million, with wealth management contributing 96%. Loans grew by 16% compared to Q1 2021, while total deposits increased by 19% year-over-year. The net interest margin improved to 2.75%. However, total deposits fell by 4% from the previous quarter. The bank's capital position remains strong, with a Tier 1 leverage ratio of 9.48%.