Truxton Corp ( (TRUX) ) has released its Q4 earnings. Here is a breakdown of the information Truxton Corp presented to its investors.
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Truxton Corporation, a leader in wealth management and banking services for affluent individuals and families, is headquartered in Nashville, Tennessee and operates as the parent company of Truxton Trust Company, providing tailored financial solutions globally.
In its latest financial report, Truxton Corporation announced a solid financial performance for the fourth quarter and the full year of 2024. The company reported a net income increase of 5% year-over-year, reaching $18.4 million, with earnings per diluted share rising to $6.34.
Key highlights from the report include a 7% growth in net interest income and a 17% increase in wealth revenue year-over-year. The fourth quarter saw a net income attributable to common shareholders of $4.99 million, an increase from $4.23 million in the same quarter the previous year. Despite a decrease in total deposits by 3% during the fourth quarter, deposits were still up by 11% compared to the previous year.
Strategic financial metrics reveal a net interest margin increase to 2.79% and a strong Tier 1 leverage ratio of 10.63%. Truxton’s asset quality remains strong, with minimal non-performing assets and a stable allowance for credit losses.
Looking ahead, Truxton Corporation remains optimistic about its future growth, underscoring its commitment to providing superior service and sophisticated financial advice, as it continues to enhance its technology and office infrastructure.