Strong Q3 numbers from Truxton

Growth in loans, fee income lift bottom line by a third

Truxton Corp., the parent of what was until recently called Nashville Bank & Trust, reported third-quarter profits of more than $1.1 million, an increase of 34 percent from the year before. Per diluted share, earnings rose to 48 cents from 37 cents.

Loans at the holding company for Truxton Trust climbed $11 million to $205 million during the quarter and were up 18 percent from the year prior. Fee income for the third quarter topped $1.4 million versus $1.34 million last year.

Deposits ended September at $258 million versus $252 million in June and $226 million in the fall of 2012. The company's total assets ended the period at $306 million, and its tangible book value per share grew almost 5 percent year over year to $13.21.

"All parts of our business performed well in this quarter," said CEO Tom Stumb. "Loan growth was strong, wealth management won important new relationships, and expenses remained in check."

Shares of Truxton (Ticker: TRUX) were up more than 2 percent to $16 in morning trading. That pushed the company's market value past $31 million.