Truxton (TRUX) Q1 2026 earnings summary

Executive summary

• Net income rose 34.6% year-over-year to $6.8 million in Q1 2026, or $2.35 per diluted share, up from $5.05 million, or $1.75 per diluted share, in Q1 2025.

• Total revenue, net, reached $16.93 million in Q1 2026, compared to $13.24 million in Q1 2025.

• Revenue growth was driven by strong noninterest income and wealth management performance.

• Asset base expanded 14.1% year-over-year to $1.37 billion.

Financial highlights

• Net interest income was $10.4 million, up 44% year-over-year and 9% sequentially.

• Noninterest income totaled $6.4 million, nearly flat year-over-year but up $479 thousand sequentially.

• Wealth management revenue grew 13% year-over-year to $6.0 million.

• Net interest margin improved to 3.18% from 2.90% a year ago.

• Book value per common share increased to $41.36 from $34.46 a year ago.

Outlook and guidance

• Cost of funds declined 21 bps sequentially to 2.70% due to lower Fed funds rates.

• Loan yields fell 11 bps quarter-over-quarter as floating rate loans repriced lower.

• Management highlights continued focus on superior deposit operations service and technology to support growth.