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. The company 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 company 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. As of December 31, 2020, it operated 148 banking offices and 164 automatic teller machines in New York, New Jersey, Vermont, Massachusetts, and Florida. The company was founded in 1902 and is headquartered in Glenville, New York.
IPO Year:
Exchange: NASDAQ
Website: trustcobank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/25/2023 | $39.00 → $36.00 | Neutral → Underweight | Piper Sandler |
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
8-K - TRUSTCO BANK CORP N Y (0000357301) (Filer)
8-K - TRUSTCO BANK CORP N Y (0000357301) (Filer)
DEFA14A - TRUSTCO BANK CORP N Y (0000357301) (Filer)
DEF 14A - TRUSTCO BANK CORP N Y (0000357301) (Filer)
8-K - TRUSTCO BANK CORP N Y (0000357301) (Filer)
10-K - TRUSTCO BANK CORP N Y (0000357301) (Filer)
13F-HR - TRUSTCO BANK CORP N Y (0000357301) (Filer)
8-K - TRUSTCO BANK CORP N Y (0000357301) (Filer)
8-K - TRUSTCO BANK CORP N Y (0000357301) (Filer)
8-K - TRUSTCO BANK CORP N Y (0000357301) (Filer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
4 - TRUSTCO BANK CORP N Y (0000357301) (Issuer)
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Executive Snapshot: Bank-wide financial results: Key metrics for the first quarter 2025: Net income of $14.3 million increased 17.7% compared to $12.1 million for the first quarter 2024Net interest income of $40.4 million, up 10.4% from $36.6 million compared to the first quarter 2024Average loans were up $104.7 million for the first quarter 2025 compared to the first quarter 2024Average deposits were up $103.3 million for the first quarter 2025 compared to the first quarter 2024 Capital position and key ratios: Consolidated equity to assets increased to 10.85% as of March 31, 2025 from 10.51% as of March 31, 2024Book value per share as of March 31, 2025 was $36.16, up from $34.12 as of
GLENVILLE, N.Y., April 10, 2025 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY ((TrustCo, NASDAQ:TRST) today announced that it will release first quarter 2025 results after the market close on April 21, 2025. 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, 2025. 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 048251. A replay of the call will be available for thirt
GLENVILLE, N.Y., March 18, 2025 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY ((TrustCo, NASDAQ:TRST) (the "Company" or "TrustCo") today announced that its Board of Directors has approved a stock repurchase program. Under the stock repurchase program, TrustCo may repurchase up to 1,000,000 shares of its common stock, or approximately 5% 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. Chairman, President, and Chief Executive Officer Robert J. McCormick said "We ar
GLENVILLE, N.Y., Feb. 19, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY ((TrustCo, NASDAQ:TRST) on February 18, 2025, 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 April 1, 2025 to shareholders of record at the close of business on March 7, 2025. Chairman, President, and Chief Executive Officer Robert J. McCormick said: "With 2025 now fully under way, many people, us included, see cause for optimism. Since 1904, TrustCo has delivered a strong dividend every quarter. This kind of payout, and the steady corporate performance that supports it, are TrustCo hallmarks that fuel more tha
GLENVILL, N.Y., Feb. 19, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY ((TrustCo, NASDAQ:TRST) on February 18, 2025, 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 April 1, 2024 to shareholders of record at the close of business on March 7, 2025. Chairman, President, and Chief Executive Officer Robert J. McCormick said: "With 2025 now fully under way, many people, us included, see cause for optimism. Since 1904, TrustCo has delivered a strong dividend every quarter. This kind of payout, and the steady corporate performance that supports it, are TrustCo hallmarks that fuel more than
GLENVILLE, N.Y., Jan. 10, 2025 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY ((TrustCo, NASDAQ:TRST) today announced that it will release fourth quarter 2024 results after the market close on January 21, 2025. 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, 2025. 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 645488. A replay of the call will be available for th
GLENVILLE, N.Y., Dec. 10, 2024 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY ((TrustCo, NASDAQ:TRST) on December 9, 2024, issued an analysis comparing its performance for the first three quarters of 2024 to that of the Company's peers on the following metrics: Efficiency Ratio, Cost of Funds, Tier 1 Capital, and Diluted EPS. The referenced charts are attached. Efficiency Ratio2 Efficiency ratio is a numerical representation of what it costs us to make a dollar. As the chart below shows, TrustCo ranks in the bottom 21st percentile (lower being better) year-to-date, and over the latest quarter ending September 30, 2024. Efficiency RatioTRST Outranks 79% of Peers Year to DateLatest Quarter Trus
GLENVILLE, N.Y., Nov. 19, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY ((TrustCo, NASDAQ:TRST) on November 19, 2024, 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 January 2, 2025 to shareholders of record at the close of business on December 6, 2024. Chairman, President, and Chief Executive Officer Robert J. McCormick said: "TrustCo's owners know that the company reliably has delivered a solid return. Outstanding financial performance over the long haul makes that possible. Our team continues to deliver – income is excellent and our capital level is among the best in our sector.
Executive Snapshot: Average Loan portfolio continues to grow: On average, total loans were up $127.0 million or 2.6% for the third quarter 2024 compared to the third quarter 2023 Continued solid financial results: Key metrics for third quarter 2024: Net income of $12.9 million versus $12.6 million for the second quarter 2024Net interest income of $38.7 million, up from $37.8 million compared to the second quarter of 2024Return on average equity (ROAE) of 7.74% versus 7.76% for the second quarter 2024 Capital continues to grow: Consolidated equity to assets increased 6.2% to 10.95% as of September 30, 2024 from 10.31% as of September 30, 2023Book value per share as of September
GLENVILLE, N.Y., Oct. 10, 2024 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY ((TrustCo, NASDAQ:TRST) today announced that it will release third quarter 2024 results after the market close on October 21, 2024. 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, 2024. 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 034120. A replay of the call will be available for t
Piper Sandler downgraded TrustCo Bank Corp NY from Neutral to Underweight and set a new price target of $36.00 from $39.00 previously
Piper Sandler downgraded TrustCo Bank Corp NY from Overweight to Neutral and set a new price target of $8.00
Piper Sandler downgraded TrustCo Bank Corp NY from Overweight to Neutral
GLENVILLE, N.Y., July 16, 2024 (GLOBE NEWSWIRE) -- Robert J. McCormick, Chairman, President, and Chief Executive Officer of TrustCo Bank Corp NY ((TrustCo, NASDAQ:TRST) and Trustco Bank, a subsidiary of TrustCo, announced the appointment of Executive Vice President Robert M. Leonard as Chief Operating Officer of TrustCo and Trustco Bank. Executive Vice President Kevin M. Curley has been named Chief Banking Officer. The following changes also have been made: Carly Batista is now Senior Vice President and Chief Operations OfficerMichael Ewell is now Senior Vice President and Chief Risk OfficerJ.R. George is now Senior Vice President and Chief Retail Banking OfficerMichelle Simmonds is now
Executive Snapshot: Bank-wide financial results: Key metrics for the first quarter 2025: Net income of $14.3 million increased 17.7% compared to $12.1 million for the first quarter 2024Net interest income of $40.4 million, up 10.4% from $36.6 million compared to the first quarter 2024Average loans were up $104.7 million for the first quarter 2025 compared to the first quarter 2024Average deposits were up $103.3 million for the first quarter 2025 compared to the first quarter 2024 Capital position and key ratios: Consolidated equity to assets increased to 10.85% as of March 31, 2025 from 10.51% as of March 31, 2024Book value per share as of March 31, 2025 was $36.16, up from $34.12 as of
GLENVILLE, N.Y., April 10, 2025 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY ((TrustCo, NASDAQ:TRST) today announced that it will release first quarter 2025 results after the market close on April 21, 2025. 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, 2025. 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 048251. A replay of the call will be available for thirt
GLENVILLE, N.Y., Feb. 19, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY ((TrustCo, NASDAQ:TRST) on February 18, 2025, 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 April 1, 2025 to shareholders of record at the close of business on March 7, 2025. Chairman, President, and Chief Executive Officer Robert J. McCormick said: "With 2025 now fully under way, many people, us included, see cause for optimism. Since 1904, TrustCo has delivered a strong dividend every quarter. This kind of payout, and the steady corporate performance that supports it, are TrustCo hallmarks that fuel more tha
GLENVILL, N.Y., Feb. 19, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY ((TrustCo, NASDAQ:TRST) on February 18, 2025, 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 April 1, 2024 to shareholders of record at the close of business on March 7, 2025. Chairman, President, and Chief Executive Officer Robert J. McCormick said: "With 2025 now fully under way, many people, us included, see cause for optimism. Since 1904, TrustCo has delivered a strong dividend every quarter. This kind of payout, and the steady corporate performance that supports it, are TrustCo hallmarks that fuel more than
GLENVILLE, N.Y., Jan. 10, 2025 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY ((TrustCo, NASDAQ:TRST) today announced that it will release fourth quarter 2024 results after the market close on January 21, 2025. 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, 2025. 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 645488. A replay of the call will be available for th
GLENVILLE, N.Y., Nov. 19, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY ((TrustCo, NASDAQ:TRST) on November 19, 2024, 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 January 2, 2025 to shareholders of record at the close of business on December 6, 2024. Chairman, President, and Chief Executive Officer Robert J. McCormick said: "TrustCo's owners know that the company reliably has delivered a solid return. Outstanding financial performance over the long haul makes that possible. Our team continues to deliver – income is excellent and our capital level is among the best in our sector.
Executive Snapshot: Average Loan portfolio continues to grow: On average, total loans were up $127.0 million or 2.6% for the third quarter 2024 compared to the third quarter 2023 Continued solid financial results: Key metrics for third quarter 2024: Net income of $12.9 million versus $12.6 million for the second quarter 2024Net interest income of $38.7 million, up from $37.8 million compared to the second quarter of 2024Return on average equity (ROAE) of 7.74% versus 7.76% for the second quarter 2024 Capital continues to grow: Consolidated equity to assets increased 6.2% to 10.95% as of September 30, 2024 from 10.31% as of September 30, 2023Book value per share as of September
GLENVILLE, N.Y., Oct. 10, 2024 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY ((TrustCo, NASDAQ:TRST) today announced that it will release third quarter 2024 results after the market close on October 21, 2024. 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, 2024. 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 034120. A replay of the call will be available for t
GLENVILLE, N.Y., Aug. 20, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY ((TrustCo, NASDAQ:TRST) on August 20, 2024, 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 1, 2024 to shareholders of record at the close of business on September 6, 2024. Chairman, President, and Chief Executive Officer Robert J. McCormick said: "While investors and market-watchers are speculating about what will happen with interest rates, Trustco Bank delivers again this quarter with a consistent and meaningful dividend, as it has done each quarter for over a century. We are very proud that our stren
Executive Snapshot: Average Loan portfolio continues to grow: On average, total loans were up $182.2 million or 3.8% for the second quarter 2024 compared to the second quarter 2023 Continued solid financial results: Key metrics for second quarter 2024: Net income of $12.6 million versus $12.1 million for the first quarter 2024Net interest income of $37.8 million, up from $36.6 million compared to the first quarter of 2024Return on average assets (ROAA) of 0.82% compared to 0.80% to the first quarter of 2024Return on average equity (ROAE) of 7.76% versus 7.54% for the first quarter 2024Book value per share as of June 30, 2024 was $34.46, up from $34.12 compared to March 31, 2024