Truxton Corporation Named 9th Top Community Bank in U.S. by American Banker

Rhea-AI Summary

Truxton (OTCPK: TRUX), the parent company of Truxton Trust, has been named the 9th top community bank in the U.S. by American Banker. This recognition highlights Truxton's exceptional performance with a 3-year return on average equity (ROAE) of 20.98% for the period ending December 31, 2023. Truxton has been featured in American Banker’s annual ranking for twelve consecutive years and holds the distinction of being the highest-ranked bank based in Tennessee. The bank's ROAE for 2023 alone was an impressive 22.3%. Both CEO Tom Stumb and CFO Austin Branstetter attribute this success to the company's commitment to excellent client service and prudent equity capital management.

• Honored for 3-year return on average equity
  
• Recognized as a top bank for the twelfth year in a row
• Top-ranked bank in Tennessee
  

NASHVILLE, Tenn., July 12, 2024 (GLOBE NEWSWIRE) -- Truxton Corporation (OTCPK: TRUX), a financial holding company and the parent of Truxton Trust Company, announced that it has been recognized by American Banker as one of the top 200 best performing community banks in the nation. Truxton Corporation has earned this recognition for twelve consecutive years and is the highest-ranked bank based in Tennessee to make the list this year.

American Banker’s annual ranking of publicly traded banks with less than $2 billion of assets is determined by return on average equity across three years. Truxton Corporation ranked 9th, with a 3-year return on average equity (ROAE) of 20.98 percent for the period ending December 31, 2023.

“It’s an honor to be recognized by American Banker as a top ten bank in the country,” said Tom Stumb, Chairman and Chief Executive Officer. “Our consistently high return on equity is a direct reflection of the elevated service we provide to clients and the exceptional performance of our talented and dedicated colleagues.” Austin Branstetter, Chief Financial Officer, added, “We earned a 22.3% return on average equity in 2023 and seek to continue our trend of exceptional long-term returns through prudent stewardship of our equity capital.”

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 (OTCPK: TRUX). For more information, visit truxtontrust.com.

Investor Relations	Media Relations
Austin Branstetter	Swan Burrus
615-250-0783	615-250-0773
austin.branstetter@truxtontrust.com	swan.burrus@truxtontrust.com

FAQ

What ranking did Truxton achieve in American Banker's top community banks in 2024?

Truxton was ranked 9th in American Banker's top community banks for 2024.

What is the stock symbol for Truxton ?

The stock symbol for Truxton is TRUX.

How many consecutive years has Truxton been recognized by American Banker?

Truxton has been recognized by American Banker for twelve consecutive years.

What was Truxton 's 3-year return on average equity (ROAE) as of December 31, 2023?

Truxton 's 3-year return on average equity (ROAE) was 20.98% as of December 31, 2023.

What was Truxton 's return on average equity (ROAE) for 2023?

Truxton 's return on average equity (ROAE) for 2023 was 22.3%.

Which state has Truxton as its highest-ranked bank in American Banker's list?

Tennessee has Truxton as its highest-ranked bank in American Banker's list.