TRST

TrustCo’s Home Town Approach to Customer Relationships Propels Loans to All Time High

Retrieved on: 
Monday, October 23, 2023
TRST, Bank, NPAS, Pressure, Federal funds, Federal Reserve Bank of St. Louis, Federal Reserve Bank, Marketing, Federal, NPL, Investment, Rare-earth element, Cryptocurrency

GLENVILLE, N.Y., Oct. 23, 2023 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, NASDAQ: TRST) today announced third quarter 2023 net income of $14.7 million, or $0.77 diluted earnings per share, compared to net income of $16.4 million, or $0.86 diluted earnings per share, for the second quarter 2023; and compared to net income of $19.4 million, or $1.01 diluted earnings per share, for the third quarter 2022; and net income of $48.8 million, or $2.57 diluted earnings per share, for the nine months ended September 30, 2023, compared to net income of $54.3 million, or $2.84 diluted earnings per share, for the nine months ended September 30, 2022. Total loan growth increased $330.8 million, or 7.1% for the third quarter 2023 over the same period in 2022.

Key Points: 
  • We have leveraged strong customer relationships to foster organic loan portfolio growth and retain deposits despite competitive pressure on pricing.
  • Average loans were up $337.6 million or 7.4% in the third quarter 2023 over the same period in 2022.
  • The ratio of allowance for credit losses on loans to total loans was 0.95% and 0.98% as of September 30, 2023 and 2022, respectively.
  • The allowance for credit losses on loans was $47.2 million at September 30, 2023, compared to $45.5 million at September 30, 2022.

TrustCo Announces the Addition of Steffani Cotugno to the Board of Directors

Retrieved on: 
Tuesday, October 17, 2023
Shenendehowa Central School District, TRST, Audit, Trust, TrustCo Bank, Albany Medical College, Physician, Corporate governance, Compensation, Lead, The Company, Nursing

GLENVILLE, N.Y., Oct. 17, 2023 (GLOBE NEWSWIRE) -- On October 17, 2023, TrustCo Bank Corp NY (the "Company") (Nasdaq: TRST) announced that Steffani Cotugno, D.O.

Key Points: 
  • GLENVILLE, N.Y., Oct. 17, 2023 (GLOBE NEWSWIRE) -- On October 17, 2023, TrustCo Bank Corp NY (the "Company") (Nasdaq: TRST) announced that Steffani Cotugno, D.O.
  • was elected to the Boards of Directors of the Company and its subsidiary, Trustco Bank.
  • Dr. Cotugno is a primary care physician with Community Care Physicians in Clifton Park, New York.
  • Dr. Cotugno has served as a teaching preceptor at Albany Medical College and has received awards in connection with that work.

TrustCo to Release Third Quarter 2023 Results on October 23, 2023; Conference Call on October 24, 2023

Retrieved on: 
Tuesday, October 10, 2023
Annual report, Security (finance), TRST, Trust, TrustCo Bank, Access

GLENVILLE, N.Y., Oct. 10, 2023 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it will release third quarter 2023 results after the market close on October 23, 2023.

Key Points: 
  • GLENVILLE, N.Y., Oct. 10, 2023 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it will release third quarter 2023 results after the market close on October 23, 2023.
  • A conference call to discuss the results will be held at 9:00 a.m. Eastern Time on October 24, 2023.
  • Those wishing to participate in the call may dial toll-free for the United States at 1-833-470-1428, and for Canada at 1-833-950-0062, Access code 040076.
  • The common shares of TrustCo are traded on The NASDAQ Global Select Market under the symbol TRST.

Buoyed by Strong Liquidity and Deposit Stability, TrustCo Declares Dividend

Retrieved on: 
Tuesday, August 15, 2023
TRST, Home Town Hero, Holding company, Bank

GLENVILLE, N.Y., Aug. 15, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on August 15, 2023, declared a quarterly cash dividend of $0.36 per share, or $1.44 per share on an annualized basis.

Key Points: 
  • GLENVILLE, N.Y., Aug. 15, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on August 15, 2023, declared a quarterly cash dividend of $0.36 per share, or $1.44 per share on an annualized basis.
  • The dividend will be payable on October 2, 2023 to shareholders of record at the close of business on September 1, 2023.
  • Chairman, President, and Chief Executive Officer Robert J. McCormick said: “Offering industry-leading mortgage products enabled us to grow our total loans under challenging economic and market conditions.
  • That loan growth is supported by deposit stability that is the product of deep Home-Town ties and strong customer relationships.

TrustCo Reports Second Quarter Net Income of $16.4 Million and $346 Million of Loan Growth; Maintains Strong Liquidity and Demonstrates Deposit Stability

Retrieved on: 
Monday, July 24, 2023
Federal Reserve Bank, Federal Reserve Bank of St. Louis, TRST, Federal, Fruit, TrustCo Bank, NPL, NPAS, Investment, Growth, Bank, Federal funds, Cryptocurrency, Financial adviser

GLENVILLE, N.Y., July 24, 2023 (GLOBE NEWSWIRE) --

Key Points: 
  • Total loan growth increased $346.3 million or 7.6% for the second quarter 2023 over the same period in 2022.
  • Loan growth continued in the second quarter 2023 compared to the prior year’s second quarter, led by an increase in residential mortgages.
  • The net interest margin for the second quarter 2023 was 2.98%, up 15 basis points from 2.83% in the second quarter of 2022.
  • The cost of interest bearing liabilities increased to 1.06% in the second quarter 2023 from 0.10% in the second quarter 2022.

TrustCo to Release Second Quarter 2023 Results on July 24, 2023; Conference Call on July 25, 2023

Retrieved on: 
Monday, July 10, 2023
TRST, TrustCo Bank, Trust, Security (finance), Annual report, Cryptocurrency, Access

GLENVILLE, N.Y., July 10, 2023 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it will release second quarter 2023 results after the market close on July 24, 2023.

Key Points: 
  • GLENVILLE, N.Y., July 10, 2023 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it will release second quarter 2023 results after the market close on July 24, 2023.
  • A conference call to discuss the results will be held at 9:00 a.m. Eastern Time on July 25, 2023.
  • Those wishing to participate in the call may dial toll-free for the United States at 1-833-470-1428, and for Canada at 1-833-950-0062, Access code 775800.
  • The common shares of TrustCo are traded on The NASDAQ Global Select Market under the symbol TRST.

Built on an Independent and Strong Foundation, TrustCo Declares Dividend

Retrieved on: 
Tuesday, May 16, 2023
TRST, Face, Holding company, Management

GLENVILLE, N.Y., May 16, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on May 16, 2023, declared a quarterly cash dividend of $0.36 per share, or $1.44 per share on an annualized basis.

Key Points: 
  • GLENVILLE, N.Y., May 16, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on May 16, 2023, declared a quarterly cash dividend of $0.36 per share, or $1.44 per share on an annualized basis.
  • The dividend will be payable on July 3, 2023 to shareholders of record at the close of business on June 2, 2023.
  • It is with great pride that we announce this reliable distribution of income to our owners, especially in the face of uncertainty our industry is currently facing.
  • TrustCo is recognized as a cornerstone in its communities, and a trustworthy institution, never accepting a government bailout since its inception in 1902.”

TrustCo Demonstrates Strength and Stability; Reports First Quarter Net Income of $17.7 Million and 7.0% Average Loan Growth – Both Up Year Over Year

Retrieved on: 
Monday, April 24, 2023
Federal Reserve, Federal Reserve Bank, Federal Reserve Bank of St. Louis, TRST, NPL, NPAS, Investment, Bank, Environment, Federal funds, Cryptocurrency, Airline

GLENVILLE, N.Y., April 24, 2023 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, NASDAQ: TRST) today announced first quarter 2023 net income of $17.7 million or $0.93 diluted earnings per share, compared to net income of $17.1 million or $0.89 diluted earnings per share for the first quarter 2022. Average loan growth increased 7.0% or $312.0 million for the first quarter 2023 over the same period in 2022.

Key Points: 
  • Average loan growth increased 7.0% or $312.0 million for the first quarter 2023 over the same period in 2022.
  • This quarter, TrustCo did not just equal last year’s results, but improved upon them in the key areas of average loan growth, diluted earnings per share, and net income, among others.
  • Loan growth continued in the first quarter 2023 compared to the prior year first quarter, led by an increase in residential mortgages.
  • As discussed, average loans were up $312.0 million or 7.0% in the first quarter 2023 over the same period in 2022.

TrustCo to Release First Quarter 2023 Results on April 24, 2023; Conference Call on April 25, 2023

Retrieved on: 
Tuesday, April 11, 2023
TRST, TrustCo Bank, Trust, Security (finance), Annual report

GLENVILLE, N.Y., April 11, 2023 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it will release first quarter 2023 results after the market close on April 24, 2023.

Key Points: 
  • GLENVILLE, N.Y., April 11, 2023 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it will release first quarter 2023 results after the market close on April 24, 2023.
  • A conference call to discuss the results will be held at 9:00 a.m. Eastern Time on April 25, 2023.
  • Those wishing to participate in the call may dial toll-free for the United States at 1-833-470-1428, and for Canada at 1-833-950-0062, Access code 576267.
  • The common shares of TrustCo are traded on The NASDAQ Global Select Market under the symbol TRST.

TrustCo Bank Corp NY Announces Stock Repurchase Plan

Retrieved on: 
Friday, March 17, 2023
Security (finance), TRST, Securities and Exchange Commission (Nigeria)

GLENVILLE, N.Y., March 17, 2023 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that its Board of Directors has approved a stock repurchase program.

Key Points: 
  • GLENVILLE, N.Y., March 17, 2023 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that its Board of Directors has approved a stock repurchase program.
  • Under the stock repurchase program, TrustCo may repurchase up to 200,000 shares of its common stock, or approximately 1%, of its current 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 repurchase program does not obligate TrustCo to purchase any particular number of shares.