TRUXTON CORP - TRUX STOCK NEWS

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%.

Truxton Trust has launched Truxton Capital Advisors (TCA), enhancing its Wealth Management Services to assist families in buying, selling, or restructuring businesses. Senior Managing Director Derrick Jones stated that offering business advisory services is a natural extension of their private banking model. The TCA team, including Andrew May and Philip Skipp, leverages extensive experience from notable firms to guide clients through liquidity events. Truxton Trust aims to provide tailored financial solutions, maintaining its founding principle of integrity.

Truxton Trust Company has announced the promotion of three key executives to Managing Directors for Wealth Management Services: Miles T. Kirkland, Kevin S. Brodrick, and W. Spence Dabbs. Additionally, Andrew 'Drew' J. Mallory will take on the role of Chief Fiduciary Officer. These promotions reflect the individuals' leadership and commitment to client success, as stated by Senior Managing Director Derrick Jones. Founded in 2004, Truxton Trust offers private banking and wealth management services and is a subsidiary of Truxton Corporation (OTCPK: TRUX).

Truxton Trust Company has appointed Daniel J. Bellet as Associate Wealth Advisor in its Wealth Management Services. Bringing extensive experience in investment, risk management, and estate planning, Bellet holds the CERTIFIED FINANCIAL PLANNER™ and CERTIFIED PLAN FIDUCIARY ADVISOR™ designations. His academic qualifications include a Bachelor’s in Finance from Hillsdale College. Senior management lauded his commitment to client service. Founded in 2004, Truxton Trust provides tailored banking and wealth management solutions for affluent clients globally. It operates under Truxton Corporation (OTCPK: TRUX).

Truxton Corporation (OTCPK: TRUX) has announced a quarterly cash dividend of $0.34 per common share, marking a 13% increase from the previous year. This dividend will be payable on March 25, 2022, to shareholders of record by March 9, 2022. Additionally, a special cash dividend of $1.00 per common share will also be distributed on the same date. The Board has also approved a $5 million stock repurchase program, which can be executed over the next year. This initiative emphasizes the company's commitment to returning capital to shareholders while maintaining a conservative balance sheet.

Truxton Corporation reported strong Q4 2021 results with a net income of $4.0 million, up 14% from Q4 2020, and earnings per diluted share of $1.39, a 13% increase. For the full year, net income rose 30% to $14.5 million, and earnings per share grew by 29% to $5.02. Wealth management revenue surged 31% year-over-year. Total deposits increased by 10% from Q3 2021, reaching $807 million. However, the net interest margin decreased to 2.48%, down 21 basis points from the previous quarter. The bank maintains a strong capital position with no non-performing assets.

Truxton Trust Company has welcomed Samuel F. Carden, CFA, as an Associate Portfolio Manager in Wealth Management Services. Carden has a strong background in equity research, corporate banking, and counterparty risk, having worked with notable firms such as Jefferies, Regions Bank, and UBS. He holds a Bachelor of Science in Finance and is a member of the CFA Society of Nashville. His expertise is expected to benefit Truxton's commitment to delivering tailored financial solutions to clients. Truxton Trust, founded in 2004, specializes in private banking and wealth management services.