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 NY operates as a savings and loan holding company through Trustco Bank, which accepts deposits, makes loans and investments, and provides personal and business banking services. Its banking products include savings, retirement and money market accounts, mortgages, building loans, auto loans, and related lending services across branch markets in New York, New Jersey, Vermont, Massachusetts, and Florida.
Recurring news for TRST centers on quarterly earnings, net interest income and margin, loan and deposit trends, credit quality, capital levels, cash dividends, and stock repurchase programs. Company updates also reference Trustco Bank's wealth management, retirement planning, investment services, and trust and estate administration activities.
TrustCo Bank Corp NY (TRST) reported a net income of $14.1 million for Q3 2020, translating to $0.146 per diluted share. Year-to-date, net income reached $38.6 million or $0.400 per diluted share. The Bank highlighted significant investments in online banking and community support, including donations to schools. Loan portfolios grew by 6.5%, while average deposits increased by 9.9%. Despite the pandemic, nonperforming loans remained stable, and the coverage ratio for loan losses improved. A conference call will discuss these results on October 22, 2020.
TrustCo Bank Corp NY (TRST) will announce its third quarter 2020 results on October 21, 2020, after market close. A conference call to discuss these results is scheduled for October 22, 2020, at 9:00 a.m. ET. Participants can join via a toll-free number or listen to an audio webcast available for a year. TrustCo, which operates with 148 offices across five states, is valued at $5.7 billion. Regulatory compliance and economic conditions remain potential challenges for the company, as highlighted in their forward-looking statements.
TrustCo Bank Corp NY, trading under the symbol TRST, appointed two new members to its Board of Directors effective August 18, 2020. Kimberly Adams Russell, President and COO of Frank Adams Jewelers, will serve on multiple committees including Audit and Risk. Frank B. Silverman, managing member of Vision Development and Management, brings expertise in real estate development and will enhance the Board’s geographical diversity. The company manages $5.7 billion in assets and operates 148 offices across several states.
The Board of Directors of TrustCo Bank Corp NY (NASDAQ: TRST) has declared a quarterly cash dividend of $0.068125 per share, amounting to $0.2725 annually. This dividend is scheduled for payment on October 1, 2020, to shareholders recorded by September 4, 2020. TrustCo has consistently paid dividends since 1904 and aims to maintain this tradition amidst economic uncertainties, highlighting strong performance and growth strategies.
TrustCo Bank Corp NY (NASDAQ: TRST) reported a net income of $11.3 million or $0.117 diluted earnings per share for Q2 2020, and $24.6 million or $0.254 for the first half of the year. The bank supported communities during COVID-19 with a designated COVID-19 Fund and financial relief programs. Average loans increased by 7.0% year-over-year, while average deposits grew by 6.2%. The bank maintained a strong liquidity position and continued hiring. A conference call will be held on July 22, 2020, to discuss results.
TrustCo Bank Corp NY (TRST) will announce its second quarter 2020 results after market close on July 21, 2020. A conference call to discuss these results will take place on July 22, 2020, at 9:00 a.m. Eastern Time. Participants can join by dialing the provided toll-free numbers. The earnings release will be available on the company's Investor Relations website. TrustCo operates 148 offices across multiple states and is a $5.3 billion savings and loan holding company. Key forward-looking statements caution against reliance on projected performance and highlight risks associated with economic conditions.
TrustCo Bank Corp NY (TRST) has declared a quarterly cash dividend of $0.068125 per share, amounting to $0.2725 annually. This dividend is set for payment on July 1, 2020, to shareholders recorded by June 5, 2020. TrustCo has a longstanding history of dividend payments, continuing this tradition since 1904. Robert J. McCormick, the CEO, emphasized that the bank's stable performance and management efforts have facilitated this dividend even amidst challenging economic conditions.
TrustCo Bank Corp NY (Nasdaq: TRST) will hold its 2020 Annual Meeting of Shareholders virtually on May 21, 2020, at 10:00 AM ET, due to COVID-19 health concerns. Shareholders eligible to vote include those recorded as of March 23, 2020. They can vote electronically, attend through a provided link, and submit questions during the meeting. The company operates 148 offices across several states and has a total asset value of $5.3 billion.