Truxton Corporation Reports Third Quarter 2026 Results

NASHVILLE, Tenn., Oct. 29, 2026 (GLOBE NEWSWIRE) -- Truxton Corporation, the parent company of Truxton Trust Company (“Truxton” or “the Bank”) and its subsidiaries, announced its operating results for the quarter ended September 30, 2026. Third-quarter net income attributable to common shareholders was $7.86 million, or $0.68 per diluted share, compared to $5.63 million, or $0.49 per diluted share, for the same quarter in 2025. Truxton completed a 4-for-1 stock split on August 28, 2026. Accordingly, all share and per share data in current and comparable periods have been adjusted to reflect the split.

Key Highlights * Non-interest income was $7.1 million in the third quarter of 2026, which was $395 thousand higher than the second quarter of 2026 and $1.08 million higher than the third quarter of 2025. Wealth revenue in the third quarter of 2026 was $6.6 million, up 6% from $6.2 million in the prior quarter and up 17% from $5.6 million in the same period in the prior year. * Net interest income, pre-provision, was $10.1 million in the third quarter and second quarter of 2026 and was up 15% from $8.8 million in the third quarter of 2025. * The purchase of a renewable energy tax credit for the 2022, 2023 and 2025 tax years benefited net income by approximately $645 thousand in the quarter ended September 30, 2026, by lowering tax expense. * Loans decreased 1% to $799 million at quarter end compared to $804 million at June 30, 2026, and were up 11% compared to $720 million at September 30, 2025. Quarterly average loan balances were $803 million for the third quarter and second quarter of 2026 and up 14% from $704 million in the third quarter of 2025. * Total deposits remained the same from June 30, 2026 to September 30, 2026 at $1.12 billion, and were 3% lower in comparison to $1.16 billion at September 30, 2025. This decline was caused by a decrease of $81 million in wholesale deposits from September 30, 2025 to September 30, 2026. * Net interest margin for the third quarter of 2026 was 3.13%, an increase of 3 basis points from the 3.10% experienced in the quarter ended June 30, 2026, and an increase of 31 basis points from the 2.82% recorded in the quarter ended September 30, 2025. Cost of funds was 2.79% in the third quarter of 2026, up from 2.76% for the quarter ended June 30, 2026, and down from 3.08% for the quarter ended September 30, 2025. * Asset quality remains sound at Truxton. The Bank had $96 thousand of non-performing assets at September 30, 2026, compared to $141 thousand at June 30, 2026, and $97 thousand at September 30, 2025. * Allowance for credit losses on loans, excluding that for unfunded commitments, was $7.3 million at quarter end September 30, 2026, compared to $7.4 million at June 30, 2026, and $7.0 million at September 30, 2025. For those three periods, such allowance amounts were 0.92%, 0.92%, and 0.98% of gross loans outstanding at the respective period end. For the same three periods, the Bank’s allowance for unfunded commitments was $797 thousand, $814 thousand, and $650 thousand, respectively. * The Bank’s capital position remains strong. Its Tier 1 leverage ratio was 9.66% at September 30, 2026, compared to 9.27% at June 30, 2026, and 8.90% at September 30, 2025. Book value per common share was $10.62, $10.78, and $9.63 at September 30, 2026, June 30, 2026, and September 30, 2025, respectively. * During the three months ended September 30, 2026, Truxton Corporation paid dividends of $0.22 per common share, and repurchased 20,324 shares of its common stock for $519 thousand in the aggregate, or an average price of $25.51 per share. 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 (OTCID: TRUX). For more information, visit truxtontrust.com.