Posted May 19, 2020
NASHVILLE, Tenn., May 14, 2020 (GLOBE NEWSWIRE) -- Truxton Corporation (OTCPK: TRUX), a financial holding company and the parent of Truxton Trust Company, announced that it has been recognized by American Banker as one of the top 200 best performing banks in the nation. Truxton Corporation has earned this recognition for eight consecutive years and is the only Nashville bank to make the list this year.
American Banker's annual ranking of publicly traded banks with less than $2 billion of assets is determined by return on average equity across three years. Truxton Corporation ranked 17 out of 511 institutions that qualified for the ranking, with a 3-year return on average equity of 14.64 percent.
Andrew May, President and Chief Financial Officer, said, "We are honored to be recognized by American Banker. We have continued to produce high returns on equity despite very conservative capital ratios and lower leverage." Tom Stumb, Chairman and Chief Executive Officer, added, "In 2019, we earned a 15.8% return on average equity for the year and 1.92% on average assets. Both numbers are the best ever for Truxton."
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