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Trustco Bank Corp. - TRST STOCK NEWS

Welcome to our dedicated news page for Trustco Bank (Ticker: TRST), a resource for investors and traders seeking the latest updates and insights on Trustco Bank.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Trustco Bank's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Trustco Bank's position in the market.

News
Loans Reach Another All-Time High, Credit Quality Remains Solid; TrustCo Reports Net Income of $12.1 Million and Capital Up 3%
Rhea-AI Summary
TrustCo Bank Corp NY announced first quarter 2024 net income of $12.1 million, with an average loan growth of 5.2% or $249.4 million. The company reported solid financial metrics, including a return on average assets of 0.80% and a return on average equity of 7.54%. Nonperforming loans decreased to $18.3 million, and capital grew by 3.3% to 10.51%. The net interest margin was 2.44%, with a slight decrease in net interest income. TrustCo aims to retain and grow customer deposits while managing expenses and focusing on excellent credit quality.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.18%
Tags
none
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News
TrustCo to Release First Quarter 2024 Results on April 22, 2024; Conference Call on April 23, 2024
Rhea-AI Summary
TrustCo Bank Corp NY (TRST) announced the release of their first quarter 2024 results on April 22, 2024, with a conference call scheduled for April 23, 2024. The company operates 140 offices and is traded on NASDAQ under the symbol TRST.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.27%
Tags
earnings
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News
TrustCo Bank Corp NY Announces Stock Repurchase Plan
Rhea-AI Summary
TrustCo Bank Corp NY (TRST) announces a stock repurchase program authorizing the buyback of up to 200,000 shares, approximately 1% of outstanding shares, over the next twelve months. Repurchases can occur through open market or private transactions, block trades, or pursuant to trading plans. The program allows flexibility based on market conditions, stock price, financial performance, and alternative capital uses.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.28%
Tags
buyback
News
Strong Capital Supports TrustCo’s Consistent Dividend; Annualized Payout of $1.44 per share
Rhea-AI Summary
TrustCo Bank Corp NY (TRST) declared a quarterly cash dividend of $0.36 per share, totaling $1.44 annually. The dividend will be paid on April 1, 2024, to shareholders of record as of March 1, 2024. This marks the 119th year of consecutive quarterly dividends, showcasing the company's strong capital preservation strategy.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.32%
Tags
dividends
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News
TrustCo’s Total Loans Surpass $5 Billion - Reach All-Time High; Nonperforming Assets to Total Assets at 0.29%, Lowest in 17 Years
Rhea-AI Summary
TrustCo Bank Corp NY (TRST) announced full year 2023 net income of $58.6 million, with total loans reaching an all-time high of $5.0 billion. Despite a decrease in net interest income, the company saw positive loan growth, increased deposit balances, and strong asset quality. The company's capital also grew, and its equity to assets ratio increased to 10.46% in 2023. However, non-interest expenses increased due to a legal settlement and branch closures.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.9%
Tags
none
-
News
TrustCo to Release Fourth Quarter 2023 Results on January 22, 2024; Conference Call on January 23, 2024
Rhea-AI Summary
TrustCo Bank Corp NY (TRST) will release fourth quarter 2023 results on January 22, 2024, followed by a conference call on January 23, 2024. The $6.1 billion savings and loan holding company operates 140 offices in New York, New Jersey, Vermont, Massachusetts, and Florida. TrustCo's common shares are traded on The NASDAQ Global Select Market under the symbol TRST.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.24%
Tags
earnings
News
Strong Capital Supports TrustCo’s Consistent Dividend; Annualized Payout of $1.44 per share
Rhea-AI Summary
TrustCo Bank Corp NY (TRST) declared a quarterly cash dividend of $0.36 per share, or $1.44 per share annually, payable on January 2, 2024. Chairman, President, and CEO Robert J. McCormick expressed pride in the company's 119-year history of paying quarterly dividends.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.89%
Tags
dividends
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News
TrustCo’s Home Town Approach to Customer Relationships Propels Loans to All Time High
Rhea-AI Summary
TrustCo Bank Corp NY reports third quarter net income of $14.7 million. Loan portfolio reaches all-time high of $5.0 billion. Solid financial results with net interest income of $42.2 million and return on average assets (ROAA) of 0.96%. Nonperforming loans (NPLs) decrease to $17.9 million. Consolidated equity to assets increases to 10.31%.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.28%
Tags
none
-
News
TrustCo Announces the Addition of Steffani Cotugno to the Board of Directors
Rhea-AI Summary
TrustCo Bank Corp NY announces the election of Dr. Steffani Cotugno to its Boards of Directors
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.5%
Tags
management
News
TrustCo to Release Third Quarter 2023 Results on October 23, 2023; Conference Call on October 24, 2023
Rhea-AI Summary
TrustCo Bank Corp NY (TRST) to release third quarter 2023 results on October 23, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.26%
Tags
earnings
Stock TRST logo
Trustco Bank Corp.

Nasdaq:TRST

TRST Rankings

#2948 Ranked by Market Cap
#3968 Ranked by Stock Gains
#583 Ranked by Dividends

TRST Stock Data

499.39M
18.39M
3.27%
72.65%
1.06%
Savings Institutions
Finance and Insurance
Link
US
Albany

About TRST

trustco bank has been the low cost provider of high quality products and services since opening for business in 1902 in the upstate town of schenectady, new york. throughout this time trustco bank has remained true to core banking principles and did not get caught up in any of the latest banking fads that have caused so many other banks to close their doors over the years. in 2002, the company began a large expansion, opening over 80 new branches in central florida, massachusetts, downstate new york, new jersey, and vermont.today, trustco bank has 147 branch locations, 53 of which are in the state of florida. the bank believes in old school, personal service and welcomes each customer by name as they enter the branch. offering a wide variety of great deposit and loan products, the bank specializes in residential mortgage lending. as of december 31, 2021, trustco bank' s assets were $6.2 billion. trustco bank has paid dividends to its shareholders for over 100 consecutive years, and has