TrustCo Bank Corp NY Announces Two-Million Share Stock Repurchase Program

Rhea-AI Summary

TrustCo Bank Corp NY (Nasdaq: TRST) announced a new 2,000,000‑share repurchase program on December 19, 2025, equal to approximately 11% of outstanding shares. The board said repurchases may occur in the open market, in private/block trades, or under Rule 10b5‑1 plans and may be executed over the next ~twelve months at management’s discretion.

The company completed a prior 1,000,000‑share buyback earlier in December 2025. Repurchases are subject to market conditions, available capital, trading price, liquidity needs and may be suspended, terminated or modified without obligation to buy a specific number of shares.

Positive

• 2,000,000 shares authorized for repurchase (~11% outstanding)
• Completed prior 1,000,000‑share buyback in December 2025
• Repurchases may boost EPS and shareholder value if executed

Negative

• Repurchases subject to capital and liquidity constraints
• Program may be suspended or modified for market conditions

Key Figures

New buyback authorization 2,000,000 shares Maximum common shares under new repurchase program

Portion of shares 11% of outstanding shares Approximate share of current float covered by new program

Prior buyback size 1,000,000 shares Previously authorized repurchase program completed earlier this month

Program duration approximately twelve months Expected period over which repurchases may occur

Share price $43.27 Pre-news price vs 52-week range $27.18–$45.27

Market Reality Check

$41.28 Last Close

Volume Volume 91,293 vs 20-day average 112,931 (relative volume 0.81x). normal

Technical Price $43.27 trading above 200-day MA $35.04, near 52-week high $45.27.

Peers on Argus

TRST was up 1.29% with mixed peer action: HBT, HBNC, MBWM, NBBK modestly positive and CCBG slightly negative, suggesting a company-specific tilt rather than a broad sector move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
2025-11-19	Dividend declaration	Positive	+1.1%	Quarterly cash dividend of $0.38 per share, stressing 120-year history.
2025-10-21	Earnings results	Positive	-0.2%	Q3 2025 net income and net interest income up double digits year-over-year.
2025-10-10	Earnings preview	Neutral	+1.5%	Announcement of Q3 2025 results release date and conference call details.
2025-08-19	Dividend increase	Positive	+1.8%	5.6% increase in quarterly dividend to $0.38 per share for shareholders.
2025-07-21	Earnings results	Positive	+1.3%	Q2 2025 net income and net interest income rose with strong loan growth.

Pattern Detected

Recent shareholder-return and earnings announcements were generally followed by modest positive moves, with one earnings release showing a small divergence.

Recent Company History

Over the last few months, TrustCo highlighted capital return through dividends and buybacks alongside solid fundamentals. Q2 and Q3 2025 results showed rising net income, net interest income, and book value, while multiple dividend announcements, including a 5.6% increase to $0.38 per share, reinforced shareholder focus. A prior buyback program and ongoing repurchases were noted in earnings communications. Today’s larger repurchase authorization continues this capital return theme built on earlier financial strength.

Market Pulse Summary

This announcement details a new stock repurchase program authorizing up to 2,000,000 shares, about 11% of currently outstanding stock, following completion of a prior 1,000,000-share plan. It extends a capital return strategy that has included dividend increases and consistent payouts. Investors may track actual buyback execution over the next roughly twelve months, the company’s earnings trajectory, and how management balances repurchases against alternative uses of capital and regulatory capital needs.

Key Terms

stock repurchase program financial

"today announced that its Board of Directors has approved a new stock repurchase program."

A stock repurchase program is when a company buys back its own shares from the market. This can make each remaining share more valuable and shows that the company believes its stock is a good investment. It’s like a business treating its shares like a limited resource, hoping to boost confidence and share prices.

open market financial

"shares to be repurchased in open market or private transactions, through block trades,"

An open market is a system where buying and selling of goods, services, or financial assets happen freely without restrictions or special controls. For investors, it means they can trade assets easily and quickly, which helps determine fair prices based on supply and demand. This environment encourages transparency and competition, making it easier to buy or sell with confidence.

block trades financial

"open market or private transactions, through block trades, or pursuant to any trading plan"

A block trade is a single, large buy or sell of shares or bonds arranged privately between big traders rather than piecemeal on the public market. Think of it like buying a whole shipment at once instead of many small shopping trips; it lets large holders move big positions with less immediate disruption but can signal strong buying or selling pressure and cause price swings once the trade is known, so investors watch block trades for clues about market sentiment and liquidity.

rule 10b5-1 regulatory

"any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

securities and exchange commission regulatory

"Rule 10b5-1 of the Securities and Exchange Commission."

A national government agency that enforces rules for buying, selling and disclosing information about stocks and other investments, acting like a referee and scorekeeper for financial markets. It requires companies to share clear, regular financial and business information and investigates fraud or rule-breaking, which matters to investors because those rules and disclosures help ensure fair prices, reduce hidden risks and make it easier to compare investment choices.

AI-generated analysis. Not financial advice.

GLENVILLE, N.Y., Dec. 19, 2025 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) (the “Company” or “TrustCo”) today announced that its Board of Directors has approved a new stock repurchase program. Under the stock repurchase program, TrustCo may repurchase up to 2,000,000 shares of its common stock, or approximately 11% of its currently outstanding shares. The repurchase program will permit shares to be repurchased in open market or private transactions, through block trades, or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission. The Company completed a previously authorized one-million share repurchase program earlier this month.

Chairman, President, and Chief Executive Officer Robert J. McCormick said “As a Company, we have determined that the best investment we can make is in ourselves. Our business model is sound and the transactional risk is low. This announced substantial share repurchase program is intended to fulfill our ever-present goal of increasing shareholder value. Our capital-building strategy over the past few years made it possible for us to fully execute the million-share buyback completed during 2025 and positions us to execute on the new program announced today. I am proud of our team for laying the foundation that supports these efforts and for effectively carrying them out.”

Repurchases will be made at management’s discretion over the next approximately twelve months at prices management considers to be attractive and in the best interests of both TrustCo and its stockholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and TrustCo’s financial performance. Open market purchases will be conducted in accordance with applicable legal requirements.

The repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity and capital requirements, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The repurchase program does not obligate TrustCo to purchase any particular number of shares.

About TrustCo Bank Corp NY

TrustCo Bank Corp NY is a $6.3 billion savings and loan holding company. Through its subsidiary, Trustco Bank, TrustCo operates 135 offices in New York, New Jersey, Vermont, Massachusetts, and Florida. Trustco has a more than 100-year tradition of providing high-quality services, including a wide variety of deposit and loan products. In addition, Trustco Bank’s Wealth Management Department offers a full range of investment services, retirement planning and trust and estate administration services. Trustco Bank is rated as one of the best performing savings banks in the country.

The common shares of TrustCo are traded on the Nasdaq Global Select Market under the symbol TRST.
For more information, visit www.trustcobank.com.

Forward-Looking Statements

All statements in this news release that are not historical are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future developments, results or periods. Examples of forward-looking statements include, among others, statements we make regarding our expectations relating to the newly-approved stock repurchase program. Forward-looking statements are based on management’s current expectations, as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. TrustCo wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially for TrustCo from the views, beliefs and projections expressed in such statements. Examples of these risks and uncertainties include, but are not limited to: the effects of inflationary pressures and changes in monetary and fiscal policies and laws, including increases or decreases in the Federal funds target rate by, and interest rate policies of, the Federal Reserve Board; changes in and uncertainty related to benchmark interest rates used to price loans and deposits; instability in global economic conditions and geopolitical matters; exposure to credit risk in our lending activities; the risk of weakness in residential real estate markets; the impact of the manner in which we allocate capital; U.S. government shutdowns, credit rating downgrades, or failure to increase the debt ceiling; the risks and uncertainties under the heading “Risk Factors” in our most recent annual report on Form 10-K and in our subsequent quarterly reports on Form 10-Q or other securities filings; the other financial, operational and legal risks and uncertainties detailed from time to time in TrustCo’s cautionary statements contained in its filings with the Securities and Exchange Commission; and the effect of all of such items on our operations, liquidity and capital position, and on the financial condition of our borrowers and other customers. The forward-looking statements contained in this news release represent TrustCo management’s judgment as of the date of this news release. TrustCo disclaims, however, any intent or obligation to update forward-looking statements, either as a result of future developments, new information or otherwise, except as may be required by law.

Subsidiary: Trustco Bank

Contact:	Robert M. Leonard
	Executive Vice President
	(518) 381-3693

FAQ

What did TrustCo (TRST) announce on December 19, 2025 about share repurchases?

TrustCo approved a 2,000,000‑share repurchase program, about 11% of outstanding shares, to run over roughly the next 12 months.

How much of TrustCo (TRST) stock has already been repurchased in 2025?

TrustCo completed a previously authorized 1,000,000‑share buyback earlier in December 2025.

How will TrustCo (TRST) execute the new repurchase program?

Repurchases may occur in the open market, private or block trades, or via Rule 10b5‑1 trading plans at management’s discretion.

What timeframe did TrustCo (TRST) give for executing the 2,000,000‑share program?

Management indicated repurchases may be made over the next approximately twelve months.

Could TrustCo (TRST) halt the repurchase program and why?

Yes—TrustCo said the program may be suspended, terminated or modified for reasons including market conditions, liquidity or alternative capital uses.

What investor impact does TrustCo’s (TRST) 2,000,000‑share buyback have?

A repurchase equal to ~11% of shares outstanding can reduce share count and may support EPS and shareholder value if executed.