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Stock impact report

Truxton Corporation Reports Fourth Quarter and Full Year 2023 Results

TRUXTON CORP (TRUX) 
Company Research Source: GlobeNewswire
NASHVILLE, Tenn., Jan. 25, 2024 (GLOBE NEWSWIRE) -- Truxton Corporation, the parent company for Truxton Trust Company (“Truxton” or “the Bank”) and subsidiaries, announced its operating results for the quarter and year ended December 31, 2023. Fourth quarter net income attributable to common shareholders was $4.2 million, or $1.46 earnings per diluted share, compared with $4.1 million, or $1.40 earnings per diluted share, for the same quarter in 2022. For the year ended December 31, 2023, net income increased by 4% to $17.5 million from $16.7 million in 2022. For the year ended December 31, 2023, earnings per diluted share rose to $6.02 from $5.75, an increase of 5% from 2022. “In what was a very challenging year for all banks, we are pleased with our financial results,” said Chairman and CEO Tom Stumb. “The strength of our business model and value to our customers was once again on display as Wealth Management revenue grew 8%, helping to offset Net Interest Margin compression.   Show less Read more
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