Trustco Bk Corp N Y Stock Price, News & Analysis

TrustCo Bank Corp NY (NASDAQ: TRST) reported strong Q1 2025 financial results with net income of $14.3 million, up 17.7% from Q1 2024. Key highlights include:

• Net interest income increased 10.4% to $40.4 million
• Average loans grew by $104.7 million (2.1%)
• Average deposits rose by $103.3 million (1.9%)
• Book value per share reached $36.16, up from $34.12

The bank announced a stock repurchase program for up to 1 million shares (approximately 5% of outstanding stock). Asset quality remained strong with non-performing loans at 0.37%. Wealth Management income showed significant growth, with fees increasing 16.7% to $2.1 million and assets under management rising 17.4% to $1.2 billion.

TrustCo Bank Corp NY (NASDAQ: TRST) has scheduled the release of its first quarter 2025 financial results after market close on April 21, 2025. The company will host a conference call to discuss the results on April 22, 2025, at 9:00 a.m. Eastern Time.

TrustCo operates as a $6.2 billion savings and loan holding company through its subsidiary, Trustco Bank, with 136 offices across New York, New Jersey, Vermont, Massachusetts, and Florida. The bank offers comprehensive services including wealth management, investment services, retirement planning, and trust and estate administration.

TrustCo Bank Corp NY (Nasdaq: TRST) has announced a significant stock repurchase program approved by its Board of Directors. The program authorizes the repurchase of up to 1,000,000 shares of common stock, representing approximately 5% of current outstanding shares.

The repurchases can be executed through open market transactions, private dealings, block trades, or via Rule 10b5-1 trading plans. The program will span approximately twelve months, with management conducting purchases at their discretion based on stock prices, market conditions, and alternative capital uses.

Chairman, President, and CEO Robert J. McCormick described this as a 'bold move to strategically deploy capital,' viewing it as an opportunity for value enhancement if the stock is undervalued relative to business strength. The company maintains flexibility to suspend, modify, or terminate the program based on market conditions and other factors.

TrustCo Bank Corp NY (Nasdaq: TRST) has announced its first quarterly dividend for 2025, maintaining its $0.36 per share payout ($1.44 annualized). The dividend will be paid on April 1, 2025, to shareholders of record as of March 7, 2025.

The company highlighted its consistent dividend history dating back to 1904, with Chairman, President, and CEO Robert J. McCormick emphasizing TrustCo's commitment to maintaining strong corporate performance and reliable dividend payments that help investors meet their financial goals.

TrustCo Bank Corp NY (Nasdaq: TRST) has announced its first quarterly dividend for 2025, maintaining its $0.36 per share payout ($1.44 annualized). The dividend will be distributed on April 1, 2024 to shareholders of record as of March 7, 2025.

The company emphasized its long-standing tradition of delivering quarterly dividends since 1904, highlighting the consistency of its corporate performance. Chairman, President, and CEO Robert J. McCormick expressed optimism about 2025 and pride in the team's ability to maintain reliable dividend payments that contribute to investors' financial goals.

TrustCo Bank reported Q4 2024 net income of $11.3 million ($0.59 per share), up from $9.8 million ($0.52 per share) in Q4 2023. Full-year 2024 net income was $48.8 million ($2.57 per share), compared to $58.6 million ($3.08 per share) in 2023.

Key Q4 2024 metrics include: net interest income of $38.9 million (up 0.8% YoY), ROAA of 0.73%, and ROAE of 6.70%. Average loans increased by $104.9 million (2.1%) YoY, while average deposits grew by $31.7 million (0.6%). The bank's equity-to-assets ratio improved to 10.84%, with book value per share reaching $35.56.

Asset quality remained strong with a 0.99% allowance for credit losses ratio. Nonperforming loans were $18.8 million, representing 0.37% of total loans, with a coverage ratio of 267.3%.

TrustCo Bank Corp NY (TRST) has announced it will release its fourth quarter 2024 financial results after market close on January 21, 2025. The company will host a conference call to discuss the results on January 22, 2025 at 9:00 a.m. Eastern Time.

Investors can participate in the call by dialing 1-833-470-1428 (US) or 1-833-950-0062 (Canada) with access code 645488. A replay will be available for 30 days. The call will also be webcast and archived for one year. TrustCo operates as a $6.1 billion savings and loan holding company through Trustco Bank, managing 136 offices across New York, New Jersey, Vermont, Massachusetts, and Florida.

TrustCo Bank Corp NY (TRST) released a comparative analysis of its performance metrics for the first three quarters of 2024. The company demonstrated strong performance across key indicators:

- Efficiency Ratio of 60.80% (YTD), outperforming 79% of peers

- Common Equity Tier 1 Capital Ratio of 19.27%, ranking in the 100th percentile

- Cost of Funds at 1.70% (YTD), better than 95% of peers

- Diluted EPS of $1.97 (YTD), outranking 74% of peers

TrustCo operates 138 offices across five states with $6.1 billion in assets, maintaining its position as one of the best-performing savings banks in the country.

TrustCo Bank Corp NY (Nasdaq: TRST) has announced a quarterly cash dividend of $0.36 per share, equivalent to $1.44 per share annually. The dividend will be paid on January 2, 2025, to shareholders of record as of December 6, 2024. The company highlights its consistent dividend payment history spanning over a century, strong financial performance, and robust capital position in the banking sector. CEO Robert J. McCormick emphasized the company's reliable returns and excellent income generation.