Trustco Bk Corp N Y Stock Price, News & Analysis

TrustCo Bank Corp NY (NASDAQ: TRST) announced a net income of $17.9 million or $0.933 diluted earnings per share for Q2 2022, up from $14.4 million or $0.748 per share in Q2 2021. For the first half of 2022, net income reached $35.0 million or $1.822 per share, compared to $28.5 million or $1.478 per share in 2021. Average loans rose by 4.6%, and deposits increased by 2.9%. The net interest margin improved to 2.83%. The bank also reported an increase in return on average assets to 1.15% and return on average equity to 12.08%.

TrustCo Bank Corp NY (TRST) will release its second quarter 2022 results after market close on July 21, 2022. A conference call to discuss these results is scheduled for 9:00 a.m. ET on July 22, 2022. Participants can join via various phone numbers based on their location. The earnings press release and other relevant financial information will be available on the company's Investor Relations website. TrustCo operates 147 offices across multiple states and is a $6.3 billion holding company in the financial sector.

TrustCo Bank Corp NY (TRST) announced a quarterly cash dividend of $0.35 per share, totaling $1.40 annually. This dividend will be payable on July 1, 2022, to shareholders on record by June 3, 2022. Since 1904, TrustCo has consistently paid dividends, reflecting a strong corporate performance attributed to years of planning and customer service enhancements. Operating 145 offices across several states, TrustCo holds $6.3 billion in assets, demonstrating stability and ongoing commitment to shareholder returns.

TrustCo Bank Corp NY (NASDAQ: TRST) reported strong first-quarter earnings for 2022, with a net income of $17.1 million or $0.890 diluted EPS, up from $14.1 million or $0.730 diluted EPS a year prior. Average residential loans increased by $218.6 million (5.8%), while average deposits rose by $223.4 million (4.4%). The bank's emphasis on long-term growth is evident as credit quality remains solid, and expenses have decreased by $3.2 million. The return on average assets improved to 1.12%, and the equity to asset ratio stood at 9.44% as of March 31, 2022, reflecting a strong financial position.

TrustCo Bank Corp NY (TRST) will release its first-quarter 2022 results post-market on April 21, 2022, with a conference call scheduled for April 22 at 9:00 a.m. ET. Participants can dial in from various locations. The press release will be available on the company’s Investor Relations website. TrustCo Bank operates 147 offices across several states and offers a range of financial services. The company emphasizes that its forward-looking statements may be affected by various factors, including economic conditions and regulatory compliance.

TrustCo Bank Corp NY (TRST) announced a stock repurchase program allowing the buyback of up to 200,000 shares, approximately 1% of its outstanding shares. The program will enable TrustCo to repurchase shares at management's discretion over the next twelve months, considering market conditions, stock prices, and the company's financial performance. The initiative aims to enhance shareholder value, although it does not obligate the company to repurchase a specific number of shares.

The Board of Directors of TrustCo Bank Corp NY (TRST) declared a quarterly cash dividend of $0.35 per share, amounting to $1.40 annually. Shareholders of record by March 4, 2022, will receive the dividend on April 1, 2022. TrustCo has consistently paid dividends since 1904, showcasing its strong performance and management commitment. The company operates 144 offices across several states and is recognized as one of the best performing savings banks in the U.S.

TrustCo Bank Corp NY (TRST) reported a strong performance for 2021, achieving a net income of $61.5 million or $3.194 diluted EPS, up from $52.5 million or $2.717 diluted EPS in 2020. In Q4 2021, net income rose to $16.2 million or $0.845 diluted EPS, compared to $13.8 million or $0.716 in Q4 2020. Average loans increased by $185.3 million or 4.4%, and average deposits were up $297.5 million or 6.0%. The bank's asset quality improved, with nonperforming loans dropping to $18.8 million (0.42%). TrustCo's capital position remains robust, fueling continued growth and investor interest.

TrustCo Bank Corp NY (TRST) announced it will release its fourth quarter 2021 results on January 24, 2022, after market close. The earnings call is scheduled for January 25, 2022, at 9:00 a.m. ET, accessible via toll-free numbers for the U.S. and Canada. The call will also be webcasted. TrustCo operates 147 branches across five states and reported total assets of $6.1 billion. The company cautioned that forward-looking statements may be affected by various factors, including economic changes and regulatory compliance.