Truxton (TRUX) Q1 2025 earnings summary

Executive summary

• First quarter 2025 net income attributable to common shareholders was $5.1 million, up 17% year-over-year; diluted EPS rose 18% to $1.75.

• Net interest income increased 18% and non-interest income rose 23% compared to Q1 2024.

• Achieved record quarterly earnings while investing in technology and human capital.

Financial highlights

• Non-interest income reached $6.4 million, up $1.2 million year-over-year and $657 thousand sequentially; wealth revenue grew 8% year-over-year.

• Loans increased 6% year-over-year to $702 million; total deposits rose 21% to $1.03 billion.

• Net interest margin improved to 2.90%, up 28 basis points year-over-year and 11 basis points sequentially.

• Cost of funds declined to 2.91% from 3.33% a year ago.

• Book value per common share increased to $34.46 from $30.62 a year ago.

Outlook and guidance

• Management remains focused on core business growth and continued investment in client service and technology.