TrustCo Bank Corp NY Earnings Call Transcripts
Fiscal Year 2026
-
Q3 net income rose 6.5% YoY to $17.3 million, while net interest income increased 9.1% and average loans grew 4.6%. Management expects continued momentum into 2027, with recurring expense guidance of $27.8 million-$28.2 million per quarter.
-
Q2 2026 saw double-digit net income growth, higher net interest income, and robust loan and deposit expansion. Credit quality remained strong, with non-performing loans rising modestly, and capital deployment continued through significant share buybacks.
-
Q1 2026 saw net income rise 14.1% to $16.3 million, with strong loan growth, margin expansion, and a robust share buyback program. Asset quality remained solid despite a higher provision for credit losses, and wealth management income grew 9% quarter-over-quarter.
Fiscal Year 2025
-
Net income rose 38% year-over-year in Q4 2025, driven by strong loan and deposit growth, margin expansion, and disciplined capital management. Credit quality remained robust, and the company continued active share repurchases and dividend payouts.
-
Q3 2025 saw robust growth in net income, net interest income, and loan portfolios, with strong credit quality and improved efficiency ratios. Management anticipates continued net interest income upside and is pursuing further share repurchases and market expansion.
-
Net income rose 19.8% year-over-year to $15 million in Q2 2025, driven by strong loan and deposit growth, margin expansion, and robust credit quality. Home equity and commercial loans led portfolio gains, while capital and asset quality metrics improved.
-
Q1 2025 saw strong growth in deposits and loans, with net income up 17.7% and robust asset quality. A 5% share repurchase program was announced, and capital ratios remain strong, positioning the bank for continued success amid stable local markets.
Fiscal Year 2024
-
Net income rose to $48.8M in 2024, driven by strong home equity lending and deposit growth. Asset quality remains robust, with low charge-offs and a solid capital position. New initiatives include banking services for the cannabis industry and cautious expansion in commercial lending.
-
Q3 2024 net income rose 2.6% to $12.9M, with record loan growth and strong credit quality. Net interest margin improved, deposits grew, and capital remains robust, supporting potential share buybacks and branch expansion.
-
Q2 2024 saw net income rise 3.5% sequentially, with record loan growth and improved margins. Asset quality remains strong, and the company continues to fund growth without debt or brokered deposits.