TrustCo Bank

TrustCo Bank Corp NY operates as the holding company for Trustco Bank, a federal savings bank that provides personal and business banking services to individuals, partnerships, and corporations. It accepts deposits and offers loans and investments. It also operates as a real estate investment trust that acquires, holds, and manages real estate mortgage assets, including residential mortgage loans and mortgage-backed securities. In addition, the firm serves as the executor of estates and trustee of personal trusts, provides asset and wealth management, estate planning and related advice, and custodial services, and acts as trustee for various types of employee benefit plans, and corporate pension and profit sharing trusts. The company was founded in 1902 and is headquartered in Glenville, NY.

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Earnings data Q4 2024

TrustCo Bank reports robust Q4 earnings and eyes growth opportunities

TrustCo Bank delivered a strong performance in Q4 2022, marked by significant net income growth, robust loan portfolio expansion, and solid financial ratios. The bank's focus on maintaining high-quality earnings and efficient cost management strategies underpinned its overall performance.
Despite challenges such as deposit run-off and expense management, TrustCo Bank's strengths in dividend payouts, equity position, and diversified revenue sources position it well for future growth opportunities. With an optimistic outlook for 2023 and a proactive risk management approach, the bank is poised for continued success.
Opportunities lie ahead for TrustCo Bank to capitalize on its strong loan backlog, optimize operational efficiency, and explore strategic growth initiatives. By leveraging its stable investment securities and diversified revenue streams, the bank can enhance shareholder value and navigate market dynamics effectively.

TrustCo Bank excels in Q1 2023 with strong financial performance

TrustCo Bank's Q1 2023 performance reflects a strong financial position, marked by revenue growth, improved asset quality, and efficient cost management.
The bank's focus on diverse loan segments and prudent risk management bodes well for sustained profitability and resilience in a dynamic market environment.
Investors can be confident in TrustCo Bank's ability to navigate challenges and capitalize on opportunities, supported by a solid capital base and strategic growth initiatives.
Overall, TrustCo Bank's Q1 results demonstrate a balanced approach to growth, risk management, and profitability, positioning the bank for continued success in the future.

TrustCo Bank posts stable earnings and growth, poised for expansion

TrustCo Bank's Q2 '23 performance reflects stability, growth, and strong asset quality.
The bank's financial metrics demonstrate resilience and a focus on long-term profitability.
Opportunities exist for TrustCo Bank to leverage its strengths for further expansion and value creation.
Overall, TrustCo Bank's solid performance positions it well for sustained success and shareholder value.

TrustCo Bank surpasses $5B loan portfolio, maintains strong credit quality

TrustCo Bank's Q4 2023 performance reflects steady growth in loans and robust credit quality, underpinned by a milestone $5 billion loan portfolio.
While facing challenges such as declining net interest income and increased expenses, the bank's proactive risk management and focus on growth present opportunities for future success.
Analysts' inquiries into key financial aspects indicate a keen interest in the bank's strategic responses to market dynamics and potential growth avenues.

TrustCo Bank (TRST) reports strong Q1 performance and eyes growth opportunities

TrustCo Bank's Q1 2024 performance reflects robust loan growth and improved net income, underpinned by strong asset quality. While challenges in managing loan growth and expenses persist, the bank's focus on prudent risk management and strategic funding presents opportunities for sustained growth and profitability.

TrustCo Bank reports Q2 earnings growth amidst housing market trends

TrustCo Bank's Q2 2024 performance reflects solid financial results driven by loan portfolio growth and strong asset quality, supported by positive housing market trends.
While challenges such as managing costs and optimizing deposit strategies persist, opportunities in loan growth and wealth management offer avenues for sustained profitability and expansion.
Strategic focus on enhancing operational efficiency and capitalizing on market opportunities will be crucial for TrustCo Bank to navigate evolving economic conditions and drive future growth.

TrustCo Bank reports resilient Q3 performance and eyes growth opportunities

TrustCo Bank's Q3 2024 Earnings Call showcased resilience in the face of Hurricane Milton, with strong financial performance and a focus on key operational areas. The bank's emphasis on maintaining asset quality, managing expenses, and exploring growth avenues through share buybacks and branch expansions positions it well for future opportunities. Challenges related to credit issues and capital allocation strategies were also addressed during the call.

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GLENVILLE, N.Y., July 12, 2021 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it will release second quarter 2021 results after the market close on July 21, 2021. Results are released on the 21st of the reporting months (January, April, July and October), or on the next day that equity markets are open if the 21st falls on a Friday, weekend or holiday. A conference call to discuss the results will be held at 9:00 a.m. Eastern Time on July 22, 2021. Those wishing to participate in the call may dial toll-free 1-888-339-0764. International callers must dial 1-412-902-4195. Please ask to be joined into the TrustCo Bank Corp NY / TRST call. A replay of the call will be available for thirty days by dialing 1-877-344-7529 (1-412-317-0088 for international callers), Conference Number 10158543.

TrustCo to Release Second Quarter 2021 Results on July 21, 2021; Conference Call on July 22, 2021

GLENVILLE, N.Y., May 20, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced the results of its 2021 Annual Meeting of Shareholders. The Company announced that the following individuals were elected as directors to serve terms expiring at the 2022 annual meeting: Lisa M. Lucarelli, Thomas O. Maggs, Anthony J. Marinello MD, PhD, Robert J. McCormick, Kimberly A. Russell, and Frank B. Silverman, with each director securing more than 90% of votes cast. Shareholders also expressed strong support for the advisory resolution on the compensation of the company's executive officers. Likewise, the shareholders approved a reverse stock split of TrustCo's Common Stock at a ratio of 1 for 5 and an amendment to TrustCo's Amended and Restated Certificate of Incorporation to effect a reverse stock split of TrustCo Common Stock at a ratio of 1 for 5 and a corresponding proportionate reduction in TrustCo's authorized Common Stock. Finally, the Company announced that the shareholders ratified the selection of Crowe, LLP as the Company's independent auditors for 2021.

TrustCo announces annual meeting results and implementation of reverse stock split

TrustCo (TRST) delivered earnings and revenue surprises of 7.14% and 1.75%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

TrustCo Bank (TRST) Surpasses Q1 Earnings and Revenue Estimates

GLENVILLE, N.Y., April 21, 2021 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, NASDAQ: TRST) today announced first quarter 2021 net income of $14.1 million or $0.146 diluted earnings per share.   Average residential loan growth increased 5.2% or $187.5 million for the first quarter 2021 compared to the first quarter 2020.

TrustCo is Pleased to Report First Quarter 2021 Results; Net Income of $14.1 Million and 5.2% Average Residential Loan Growth Year over Year

TrustCo (TRST) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

TrustCo Bank (TRST) Reports Next Week: What to Expect

GLENVILLE, New York, April 12, 2021 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it will release first quarter 2021 results after the market close on April 21, 2021. Results are released on the 21st of the reporting months (January, April, July and October), or on the next day that equity markets are open if the 21st falls on a Friday, weekend or holiday. A conference call to discuss the results will be held at 9:00 a.m. Eastern Time on April 22, 2021. Those wishing to participate in the call may dial toll-free 1-888-339-0764. International callers must dial 1-412-902-4195. Please ask to be joined into the TrustCo Bank Corp NY / TRST call. A replay of the call will be available for thirty days by dialing 1-877-344-7529 (1-412-317-0088 for international callers), Conference Number 10153602.

TrustCo to Release First Quarter 2021 Results on April 21, 2021; Conference Call on April 22, 2021

Overall, performance was strong in Q4 and the bank is emerging from the pandemic stronger.

TrustCo Bank: Shaking Things Up

GLENVILLE, N.Y., Feb. 16, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it plans to seek approval for a reverse stock split of TrustCo's common stock at the upcoming annual meeting of TrustCo's shareholders. The proposal will include a 1 for 5 reverse stock split and the reduction of the number of authorized shares of common stock from 150,000,000 to 30,000,000, as determined by TrustCo's Board of Directors. This proposed reduction in authorized shares would become effective at the same time as the effective date of the proposed reverse stock split.

TrustCo to seek approval of reverse stock split

McCormick

TrustCo Bank Corp (TRST) CEO, Robert McCormick on Q4 2020 Results - Earnings Call Transcript

TrustCo (TRST) delivered earnings and revenue surprises of 0.00% and -1.71%, respectively, for the quarter ended December 2020. Do the numbers hold clues to what lies ahead for the stock?

TrustCo Bank (TRST) Q4 Earnings Match Estimates

GLENVILLE, N.Y., Jan. 21, 2021 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, NASDAQ: TRST) today announced full year 2020 net income of $52.5 million or $0.543 diluted earnings per share, and net income of $13.8 million or $0.143 diluted earnings per share for the fourth quarter of 2020. Average residential loan growth increased 5.9% or $209.1 million to a record $3.8 billion for the fourth quarter 2020.

TrustCo is Pleased to Report Fourth Quarter and Full Year 2020 Results

GLENVILLE, N.Y., Jan. 11, 2021 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it will release fourth quarter 2020 results after the market close on January 21, 2021. Results are released on the 21st of the reporting months (January, April, July and October), or on the next day that equity markets are open if the 21st falls on a Friday, weekend or holiday. A conference call to discuss the results will be held at 9:00 a.m. Eastern Time on January 22, 2021. Those wishing to participate in the call may dial toll-free 1-888-339-0764. International callers must dial 1-412-902-4195. Please ask to be joined into the TrustCo Bank Corp NY / TRST call. A replay of the call will be available for thirty days by dialing 1-877-344-7529 (1-412-317-0088 for international callers), Conference Number 10151410.

TrustCo to Release Fourth Quarter 2020 Results on January 21, 2021; Conference Call on January 22, 2021

TrustCo Bank is focusing on residential mortgages. The company kept the loan book very robust and the current loan loss allowance is more than twice as high as the loans past due.

TrustCo Bank: Securing A 4% Yield With New York Residential Mortgages

TrustCo Bank Corp NY (TRST) CEO Robert McCormick on Q3 2020 Results - Earnings Call Transcript

A well-run regional bank with a near 5% dividend yield. Like other traditional banks, TrustCo will face pressures such as possible loan losses and reduced net interest income in the next few quarters.

TrustCo Bank: Still Love It

GLENVILLE, N.Y., Oct. 21, 2020 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY ( TrustCo , NASDAQ: TRST ) · TrustCo Bank Corp NY today announced third quarter 2020 net income of $14.1 million or $0.146 diluted earnings per share, and $38.6 million or $0.400 diluted earnings per share for the nine months ended September 30, 2020.

TrustCo is Pleased to Report Third Quarter 2020 Results; Net Income of $14.1 Million and 6.9% Average Residential Loan Growth Year over Year

Analysts Estimate TrustCo Bank (TRST) to Report a Decline in Earnings: What to Look Out for

GLENVILLE, N.Y., Oct. 09, 2020 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it will release third quarter 2020 results after the market close on October 21, 2020. Results are released on the 21st of the reporting months (January, April, July and October), or on the next day that equity markets are open if the 21st falls on a Friday, weekend or holiday. A conference call to discuss the results will be held at 9:00 a.m. Eastern Time on October 22, 2020. Those wishing to participate in the call may dial toll-free 1-888-339-0764. International callers must dial 1-412-902-4195. Please ask to be joined into the TrustCo Bank Corp NY / TRST call. A replay of the call will be available for thirty days by dialing 1-877-344-7529 (1-412-317-0088 for international callers), Conference Number 10149050.

TrustCo to Release Third Quarter 2020 Results on October 21, 2020; Conference Call on October 22, 2020

Trustco advances its customer digital experience by introducing a new online platform and mobile application Trustco advances its customer digital experience by introducing a new online platform and mobile application

Trustco Bank Makes Significant Investments in New Technologies

GLENVILLE, N.Y., Aug.  21, 2020  (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (the “Company”) (Nasdaq: TRST) announced that Kimberly Adams Russell and Frank B. Silverman were elected to the Board of Directors of the Company and its subsidiary, Trustco Bank, in each case effective August 18, 2020. 

TrustCo Announces the Addition of Kimberly Adams Russell and Frank B. Silverman to the Board of Directors

TrustCo Bank: Still Attractive

TrustCo Bank Corp NY (TRST) CEO Robert McCormick on Q2 2020 Results - Earnings Call Transcript

GLENVILLE, N.Y., July  21, 2020  (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, NASDAQ: TRST) · TrustCo Bank Corp NY today announced second quarter 2020 net income of $11.3 million or $0.117 diluted earnings per share, and $24.6 million or $0.254 diluted earnings per share for the six months ended June 30, 2020.

TrustCo is Pleased to Report Second Quarter 2020 Results; Net Income of $11.3 Million and 7.6% Average Residential Loan Growth Year over Year

GLENVILLE, New York, July  10, 2020  (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it will release second quarter 2020 results after the market close on July 21, 2020.  Results are released on the 21st of the reporting months (January, April, July and October), or on the next day that equity markets are open if the 21st falls on a Friday, weekend or holiday.  A conference call to discuss the results will be held at 9:00 a.m. Eastern Time on July 22, 2020.  Those wishing to participate in the call may dial toll-free 1-888-339-0764.  International callers must dial 1-412-902-4195.  Please ask to be joined into the TrustCo Bank Corp NY / TRST call.  A replay of the call will be available for thirty days by dialing 1-877-344-7529 (1-412-317-0088 for international callers), Conference Number 10146338.

TrustCo to Release Second Quarter 2020 Results on July 21, 2020; Conference Call on July 22, 2020

Solid fundamentals and prospects make TrustCo Bank Corp (TRST) stock an attractive pick at the moment.

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