Trustco Bk Corp N Y Stock Price, News & Analysis

TrustCo Bank Corp NY (TRST) announced a strong third quarter for 2021, reporting a net income of $16.8 million or $0.871 diluted earnings per share, up from $14.1 million or $0.730 per share in the same quarter of 2020. For the nine months ending September 30, 2021, net income reached $45.3 million or $2.349 per share, compared to $38.6 million or $2.001 per share last year. Average loans and deposits increased by 4.2% and 7.1%, respectively, showcasing growth in mortgage products and core deposits.

TrustCo Bank Corp NY (Nasdaq: TRST) announced it will release its third quarter 2021 results on October 21, 2021, after market close. The earnings conference call is scheduled for October 22, 2021, at 9:00 a.m. Eastern Time. Interested participants can join via phone or listen to the live audio webcast. The company operates 147 offices across New York, New Jersey, Vermont, Massachusetts, and Florida, with total assets of $6.1 billion. TrustCo cautioned that certain forward-looking statements may vary due to various operational risks, including regulatory compliance and market fluctuations.

TrustCo Bank Corp NY (Nasdaq: TRST) has elected Curtis N. Powell to its Board of Directors as of September 21, 2021. Mr. Powell, who has over 20 years of experience in Human Resources and Risk Management at Rensselaer Polytechnic Institute, will also serve on several board committees including Audit, Compensation, and Risk. His appointment aims to enhance the bank's strategic approach to human capital and risk management. TrustCo operates 147 offices across five states and has a total asset base of $6.1 billion.

On August 17, 2021, TrustCo Bank Corp NY (TRST) declared a quarterly cash dividend of $0.340625 per share, totaling $1.3625 annually. This dividend will be paid on October 1, 2021, to shareholders on record as of September 3, 2021. TrustCo has a strong tradition of dividend payments, having paid a cash dividend every year since 1904. CEO Robert J. McCormick emphasized the bank's commitment to growth and customer service as key factors enabling this dividend in uncertain times.

TrustCo Bank Corp NY reported a second quarter 2021 net income of $14.4 million ($0.748 per share), up from $11.3 million ($0.584 per share) in Q2 2020. For the six months ending June 30, 2021, net income was $28.5 million ($1.478 per share), compared to $24.6 million ($1.272 per share) in 2020. The earnings figures have been adjusted for a 1-for-5 reverse stock split on May 28, 2021. The leadership emphasized community support and ongoing dividends while assisting borrowers impacted by COVID-19.

TrustCo Bank Corp NY (TRST) will announce its second quarter 2021 results on July 21, 2021, after market close. A conference call to discuss these results is scheduled for July 22, 2021, at 9:00 a.m. ET, accessible via toll-free number or international dial-in. The results will be available on the company's Investor Relations website, along with other financial information. TrustCo operates 147 offices across several states and is a $6 billion savings and loan holding company.

TrustCo Bank Corp NY (NASDAQ: TRST) held its 2021 Annual Meeting of Shareholders on May 20, 2021, where board members were elected, and a reverse stock split was approved at a ratio of 1 for 5. Shareholders showed strong support for executive compensation and appointed Crowe, LLP as independent auditors for 2021. The reverse stock split is set to be implemented on May 28, 2021, with adjusted quarterly dividends of $0.340625 per share. CEO Robert J. McCormick expressed optimism about the split enhancing share attractiveness in the stock market.

The Board of Directors of TrustCo Bank Corp NY (TRST) declared a quarterly cash dividend of $0.068125 per share, translating to $0.2725 annually. This dividend is payable on July 1, 2021, to shareholders on record by June 4, 2021. TrustCo has consistently paid dividends since 1904, highlighting the company’s stable performance amid uncertainties. CEO Robert J. McCormick emphasized the bank's commitment to growth and ongoing customer acquisition, supporting this dividend declaration.

TrustCo Bank Corp NY (NASDAQ: TRST) reported a net income of $14.1 million for Q1 2021, translating to $0.146 diluted earnings per share. Residential loan growth rose 5.2%, amounting to $187.5 million, compared to Q1 2020. The bank's assets exceeded $6 billion, with key milestones in Florida, achieving over $1 billion in both deposits and loans. Average deposits increased 14.2% year-over-year. The net interest margin decreased to 2.78%. A conference call to discuss results will occur on April 22, 2021.