Welcome to our dedicated page for Trustco Bk N Y news (Ticker: TRST), a resource for investors and traders seeking the latest updates and insights on Trustco Bk N Y stock.
Trustco Bank Corp N Y (TRST) maintains this dedicated news portal for stakeholders seeking authoritative updates about this established community banking institution. Our curated collection features official press releases, regulatory filings, and verified financial developments directly from the company.
Investors and analysts will find essential updates including quarterly earnings reports, dividend declarations, and strategic initiatives. The repository serves as a historical archive while providing immediate access to newsworthy events affecting TRST's operations across New York, Florida, and New England markets.
Content highlights include mortgage lending updates, branch network expansions, leadership announcements, and compliance-related disclosures. All materials adhere to strict factual reporting standards, ensuring users receive unaltered corporate communications without speculative commentary.
Bookmark this page for streamlined access to Trustco Bank's evolving story. Check regularly for updates reflecting the institution's commitment to traditional banking values and community-focused financial services.
TrustCo Bank Corp NY (TRST) reported a net income of $17.7 million for the first quarter of 2023, reflecting a 3.8% increase from $17.1 million in Q1 2022. The company achieved a net interest income of $47.0 million, up 17.1% year-over-year, alongside a return on average assets of 1.20% and return on average equity of 11.84%. Average loans grew by $312.0 million, reaching an all-time high of $4.8 billion. TrustCo's consolidated equity to assets ratio improved to 10.17% from 9.44% a year prior. Nonperforming loans decreased to 0.40% of total loans. The company emphasized strong liquidity and effective management, benefiting from rising interest rates. A conference call to discuss results is scheduled for April 25, 2023.
TrustCo Bank Corp NY (TRST) has announced its upcoming first quarter 2023 financial results, set to be released on April 24, 2023, after market close. A conference call is scheduled for April 25, 2023, at 9:00 a.m. ET to discuss these results. Participants can join via a toll-free number or through an audio webcast. TrustCo Bank, with 143 offices across New York, New Jersey, Vermont, Massachusetts, and Florida, operates as a $6.0 billion savings and loan holding company. The company emphasizes that forward-looking statements included in this release are subject to various uncertainties and risks, including economic factors and geopolitical events.
TrustCo Bank Corp NY (TRST) announced a new stock repurchase program allowing the buyback of up to 200,000 shares, approximately 1% of its outstanding shares. This initiative aims to enhance shareholder value and will be executed at management's discretion over the next twelve months. The program permits repurchases through various methods, including open market transactions. TrustCo will assess factors such as market conditions and financial performance before proceeding with buybacks. The company emphasizes that the program may be suspended or modified based on prevailing circumstances.
The Board of Directors of TrustCo Bank Corp NY (TRST) announced a quarterly cash dividend of $0.36 per share on February 21, 2023, translating to $1.44 annually. The dividend will be paid on April 3, 2023, to shareholders recorded by March 3, 2023. CEO Robert J. McCormick emphasized that this distribution reflects the bank's record success in 2022, asserting TrustCo's tradition of consistent dividends amidst market volatility. TrustCo operates 143 offices across several states and is recognized as one of the top-performing savings banks in the country.
TrustCo Bank Corp NY (TRST) announced it will release its Q4 2022 results on January 23, 2023, after market closure. The earnings will be discussed in a conference call on January 24, 2023, at 9:00 a.m. ET. Interested participants can join via dial-in or audio webcast. The company operates as a $6.1 billion savings and loan holding entity, with 143 offices across several states. TrustCo emphasizes that the information shared in this press release includes forward-looking statements that are subject to various risks and uncertainties.
The Board of Directors of TrustCo Bank Corp NY (TRST) announced a 2.9% increase in its quarterly cash dividend to $0.36 per share, effective January 3, 2023, for shareholders of record by December 2, 2022. This annualizes to $1.44 per share. Chairman Robert J. McCormick highlighted the company's historic earnings and strategic liquidity management as key factors enabling this dividend increase, reinforcing TrustCo's long-standing commitment to providing substantial returns to its shareholders amidst evolving market conditions.
TrustCo Bank Corp NY (NASDAQ: TRST) reported a third quarter 2022 net income of $19.4 million, equating to $1.013 diluted EPS, up from $16.8 million or $0.871 EPS in Q3 2021. Year-to-date earnings stand at $54.3 million or $2.835 EPS, a 20% increase compared to last year. Loan growth was driven by residential mortgages, with average loans rising 4.9%. Deposits increased by $105.1 million or 2%. The net interest margin improved to 3.16%, a 51 basis points increase. TrustCo's strong liquidity position remains conducive for future opportunities.
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