TRST

GLENVILLE, N.Y., Aug. 18, 2026 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on August 18, 2026 declared an increased quarterly cash dividend of $0.40 per share, or $1.60 per share on an annualized basis. The declared dividend represents an increase of 5.3% over the prior dividend amount. The dividend will be payable on October 1, 2026 to shareholders of record at the close of business on September 4, 2026. Chairman, President, and Chief Executive Officer Robert J. McCormick said: “TrustCo’s commitment to paying a meaningful dividend is legendary – it spans more than a century. We are very pleased to announce that the company’s earnings and balance sheet management support a capital deployment strategy that simultaneously enables a robust repurchase program and an increase in the already-meaningful quarterly dividend. Our dividend payout no doubt has played a role in the growth in the company’s share price that we have seen over the past two years and the increase announced today will boost the dividend yield, making the stock even more attractive to investors. We are optimistic that these factors will work together to further increase our market capitalization.” About TrustCo Bank Corp NY TrustCo Bank Corp NY is a $6.5 billion savings and loan holding company and through its subsidiary, Trustco Bank, operated 133 offices in New York, New Jersey, Vermont, Massachusetts, and Florida as of July 31, 2026. In addition, the Bank’s Wealth Management Department offers a full range of investment services, retirement planning and trust and estate administration services. The common shares of TrustCo are traded on the NASDAQ Global Select Market under the symbol TRST. 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 with respect to the impact of the change in dividend yield on the attractiveness of TrustCo’s stock to investors, as well as the impact of TrustCo’s capital deployment strategy, dividend yield and other factors on its future market capitalization. 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 which are subject to factors and uncertainties that could cause actual results to differ materially for TrustCo from the views, beliefs and projections expressed in or implied by such statements, including but not limited to, risks and uncertainties relating to future changes in interest rates; external economic factors, such as changes the interest rate policies of the Federal Reserve Board and other changes in monetary policy, as well as ongoing inflationary pressures and continued elevated prices; exposure to credit risk in our lending activities; the risk of weakness in residential real estate markets; limitations on our ability to pay dividends; the impact of the manner in which we allocate capital; the risks and uncertainties set forth under the heading “Risk Factors” in our most recent Annual Report on Form 10-K for the year ended December 31, 2025, and, if any, our subsequent Quarterly Reports on Form 10-Q; the financial, operational and legal risks and uncertainties detailed from time to time in TrustCo’s filings with the Securities and Exchange Commission, including within the cautionary statements contained in such filings; 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.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management attributes the 12.8% year-over-year net income increase to a 'well-oiled' business model where lower-yielding assets are replaced by higher-yielding originations. Net interest margin expansion was driven by the favorable repricing of loan and investment portfolios alongside growth in lower-cost deposits. The bank continues to prioritize its 'best acquisition' strategy by aggressively repurchasing shares, totaling over 2.3 million shares since 2020. Operational focus has shifted toward the Florida market, evidenced by the opening of a new regional headquarters in Longwood to enhance visibility and growth. Credit quality remains a core pillar, with management reporting six consecutive quarters of net recoveries and maintaining conservative underwriting standards. The wealth management division provides a stable, recurring non-interest income stream with $1.39 billion in assets under management. Management expects to complete its current buyback phase, which would result in repurchasing nearly 16% of outstanding shares during the 2025-2026 period. The bank is positioning for potential rate volatility by offering longer-term CD products to push out maturities and reduce exposure to short-term repricing. Recurring non-interest expense, excluding ORE, is projected to range between $27.3 million and $27.8 million per quarter for the remainder of 2026. Strategic emphasis is being placed on growing the home equity portfolio as a floating-rate hedge and a low-cost credit alternative for customers. The investment strategy remains focused on short maturities to ensure continuous amortization and frequent opportunities to reprice securities. A one-time gain of $844,000 was recorded following the fair value marking of Visa Class C common stock based on conversion privileges. Non-interest expenses spiked to $28.2 million this quarter due to non-recurring professional fees for consulting, legal, and accounting services. Salary and benefit costs increased partly due to the revaluation of incentive compensation plans triggered by the rising stock price. ORE expenses are being managed with a strict cap, with management intending not to exceed $250,000 per quarter. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management explained that about half of the salary increase is recurring due to base raises, while the other half is tied to stock-based incentive revaluations. Professional fees for legal and consulting work were identified as temporary 'blips' that are not expected to recur in future quarters. The bank is actively extending deposit durations by making longer-term CDs more attractive to move away from three-month repricing cycles. Management is incentivizing home equity line usage because the floating-rate nature of the product provides a natural hedge against rising rates.

This article first appeared on GuruFocus. Net Income: $17 million, an increase of 12.8% over the prior year quarter. Net Interest Income: $45.6 million, up $3.8 million or 9.2% compared to the prior-year quarter. Net Interest Margin: 2.87%, up 16 basis points from the prior-year quarter. Return on Average Assets: 1.04%. Return on Average Equity: 10.22%. Book Value Per Share: $38.53, up 4.8% from $36.75 a year earlier. Total Deposits: $5.7 billion, up $191 million compared to the prior-year quarter. Average Loans: $5.3 billion, an increase of $197.5 million or 3.8% year over year. Non-Performing Loans: $21.8 million, up from $17.9 million in the prior year. Allowance for Loan Losses: 1.01% of total loans as of June '26. Assets Under Management (Wealth Management): $1.39 billion as of June 30, '26. Non-Interest Expense: $28.2 million, up $1.3 million from the prior quarter. Stock Repurchase: 10.5% of outstanding common stock repurchased under 2025 and 2026 programs. Warning! GuruFocus has detected 8 Warning Signs with TRST. Is TRST fairly valued? Test your thesis with our free DCF calculator. Release Date: July 22, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Trustco Bank Corp N Y (NASDAQ:TRST) reported a 12.8% increase in net income for the second quarter of 2026 compared to the same period in 2025. The company achieved a return on average assets of 1.04% and a return on average equity of 10.22%. Net interest income increased by 9.2% year-over-year, driven by favorable repricing of loan and investment portfolios. The bank's loan portfolio reached an all-time high with a 3.8% growth, reflecting strong demand for credit. Trustco Bank Corp N Y (NASDAQ:TRST) successfully repurchased 10.5% of its outstanding common stock, demonstrating a disciplined capital allocation strategy. Non-performing loans increased to $21.8 million in the second quarter of 2026 from $17.9 million in the same period of 2025. The consolidated equity assets ratio decreased to 10.5% from 10.91% year-over-year. Non-interest expenses rose by $1.3 million compared to the previous quarter, primarily due to higher employee benefit costs and professional fees. The provision for credit losses was $650,000, indicating a cautious approach to potential credit risks. The cost of interest-bearing liabilities decreased, but the bank remains exposed to potential interest rate changes by the Federal Reserve. Q: Can you explain the increase in non-interest expenses this quarter compared to your previous guidance? A: Michael Ozimek, CFO, explained that the increase was primarily due to salary increases and incentive compensation programs, which are partly tied to the stock price. Professional fees also increased due to consulting, legal, and accounting services, but these are not expected to recur. Q: What is the new guidance for non-interest expenses, and what factors are contributing to this change? A: Michael Ozimek stated that the new guidance for non-interest expenses is between $27.3 million and $27.8 million per quarter. This increase is mainly due to the salary increases, which reflect a steady growth in expenses. Q: With potential rate increases, how is TrustCo positioning itself differently compared to previous rate hikes? A: Robert McCormick, CEO, mentioned that TrustCo is offering longer-term CD products to extend maturities and is being aggressive in the mortgage portfolio. They are also focusing on home equity loans, which are often floating products, and maintaining short maturities on investments to allow for repricing opportunities. Q: How is TrustCo managing its loan growth and asset quality? A: Kevin Curley, Chief Banking Officer, reported that average loans grew by 3.8% year over year, with significant growth in residential and home equity loans. Asset quality remains strong, with non-performing loans at 0.4% of total loans, and the bank has experienced six consecutive quarters of net recoveries. Q: Can you provide an update on TrustCo's capital deployment strategy? A: Robert McCormick highlighted that TrustCo continues to execute its share buyback program, having repurchased over 1 million shares in 2026. This strategy reflects their commitment to returning value to shareholders and confidence in the bank's long-term strength. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in TrustCo Bank Corp NY? Here are five stocks we like better. TrustCo Bank reported stronger Q2 2026 results, with net income up 12.8% to $17 million and net interest income rising 9.2% to $45.6 million as its net interest margin improved to 2.87%. Loan and deposit growth remained solid: average loans hit an all-time high of $5.3 billion, while total deposits increased to $5.7 billion, supported by residential lending and steady customer inflows. Credit quality stayed stable and capital management remained active, with non-performing loans low at 0.40% of total loans and the company continuing share repurchases that have reduced outstanding shares meaningfully. TrustCo Bank Corp NY (NASDAQ:TRST) executives said the company delivered stronger second-quarter 2026 earnings, supported by higher net interest income, continued loan and deposit growth and ongoing share repurchases. Chairman, President and CEO Robert J. McCormick described the quarter as another period in which the bank’s business model benefited from a favorable market environment. He said TrustCo’s loan and investment portfolios continued to reprice as lower-yielding assets matured and were replaced by higher-yielding loans and investments, while growth in lower-cost deposits helped support the balance sheet. → Buyback Boom: These 3 Companies Are Betting Billions on Their Own Stocks “In combination, these elements result in an increased net interest margin year-over-year,” McCormick said, adding that the company achieved the results “without compromising credit quality.” Chief Financial Officer Michael Ozimek said TrustCo generated second-quarter net income of $17 million, up 12.8% from the prior-year quarter. Return on average assets was 1.04%, while return on average equity was 10.22%. → 3 Photonics Companies Making Quantum Tech Possible Net interest income totaled $45.6 million, an increase of $3.8 million, or 9.2%, from the second quarter of 2025. The net interest margin was 2.87%, up 16 basis points from the prior quarter. The yield on interest-earning assets rose to 4.27%, up 8 basis points from the prior quarter, while the cost of interest-bearing liabilities declined to 1.79% from 1.91% a year earlier. Ozimek said the bank remains well positioned to deliver strong net interest income even as the Federal Reserve considers rate changes. He said TrustCo continues to focus on competitive deposit offerings while maintaining financial stability and supporting community banking needs. → AI Data Centers Need Power, and These 2 Industrials Are Cashing In Total deposits ended the quarter at $5.7 billion, up $191 million from the same period a year earlier. Ozimek said the increase reflected customer confidence in the bank’s deposit offerings, along with its emphasis on relationship banking, digital capabilities and a stable funding base. Average loans rose 3.8%, or $197.5 million, to $5.3 billion from the second quarter of 2025, which Ozimek called another all-time high. Chief Banking Officer Kevin Curley said loan growth was concentrated in residential lending, with first mortgages increasing $142 million, or 3.2%, and home equity loans rising $44.8 million, or 10.4%, from a year earlier. Commercial loans increased $13.4 million, or 4.4%. On a linked-quarter basis, actual loans increased $87.1 million from the first quarter. Purchase mortgage loans, including refinances, grew $62.8 million, home equity loans increased $19.3 million and commercial loans rose $5.7 million. Curley said mortgage rates were lower at the beginning of the quarter, then increased slightly and recently leveled off in a range of 6.25% to 6.5%. Purchase loan volume remained steady during the quarter, while refinance activity was strongest earlier in the period before moderating as rates moved higher. Home equity demand remained consistent across TrustCo’s markets. Curley said the bank continues to offer competitive 30-year fixed-rate mortgage products, adjustable-rate mortgage options and home equity products that provide customers with lower-cost alternatives to personal loans and credit cards. TrustCo executives said asset quality remained strong. Non-performing loans were $21.8 million at quarter-end, compared with $21.5 million in the prior quarter and $17.9 million a year earlier. Non-performing loans represented 0.40% of total loans, compared with 0.41% in the prior quarter and 0.35% a year ago. Non-performing assets totaled $23 million at quarter-end, versus $22.8 million in the first quarter and $19 million a year earlier. The allowance for credit losses stood at $54.1 million, with a coverage ratio of 249%. That compared with $53 million and a 240% coverage ratio at the end of the first quarter, and $51.3 million and a 286% coverage ratio a year earlier. Curley said early-stage delinquencies remained within normal ranges. Charge-offs for the quarter amounted to a net recovery of $88,000, following a net recovery of $39,000 in the first quarter. He said the bank has recorded six straight quarters of net recoveries. The provision for credit losses was $650,000 in the second quarter. The allowance for loan losses to total loans was 1.01% as of June 2026, compared with 0.99% in June 2025. Capital levels remained strong, with a consolidated equity-to-assets ratio of 10.5% for the second quarter of 2026, compared with 10.91% a year earlier. Book value per share was $38.53 as of June 30, 2026, up 4.8% from $36.75 a year earlier. McCormick said TrustCo continues to execute its capital deployment strategy, primarily through share repurchases. He said the buyback program began in 2020 and has resulted in the reacquisition of more than 2.3 million shares. If the current phase is completed, he said the company will have repurchased nearly 16% of its outstanding shares during 2025 and 2026. Ozimek said TrustCo has repurchased 10.5% of its outstanding common stock under the 2025 and 2026 programs, including more than 1 million shares in 2026 after buying 1 million shares in 2025. Non-interest expense, net of other real estate expense, was $28.2 million, up $1.3 million from the prior quarter. Ozimek attributed the increase mainly to higher employee benefit costs and professional fees, including consulting, legal and accounting fees. He said those categories are expected to return to normalized levels next quarter. During the question-and-answer portion of the call, Ian Lapey of Gabelli Funds asked about the expense increase and updated guidance. Ozimek said about half of the salary and benefits increase reflected salary increases that will recur, while part of the increase related to incentive compensation programs tied to the company’s stock price. TrustCo now expects recurring non-interest expense, net of other real estate expense, to run between $27.3 million and $27.8 million per quarter in 2026. TrustCo’s wealth management division had approximately $1.39 billion in assets under management as of June 30, 2026. Ozimek said most of the related fee income is recurring. The company also recorded an $844,000 gain after marking its Visa Class C common stock to fair value based on its conversion privilege. McCormick also noted that TrustCo has moved into a repurposed building in Longwood, Florida, serving as a new regional headquarters for its operations in the state. He called Florida a key part of the bank’s success and said the new location enhances the company’s visibility there. TrustCo Bank Corp. NY (NASDAQ: TRST) is a bank holding company headquartered in Glens Falls, New York, that provides a full suite of community banking and financial services primarily across upstate New York and western Massachusetts. Through its wholly owned subsidiary, Trustco Bank, the company offers deposit products such as checking and savings accounts, as well as consumer, residential mortgage, and commercial lending solutions. Additional services include wealth management, trust administration, and insurance products tailored to the needs of individuals, businesses and nonprofit organizations. Founded in 1902 as the Glens Falls Trust Company, TrustCo Bank has grown steadily through organic branch expansion and acquisitions of locally based banks. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "TrustCo Bank Corp NY Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Executive Snapshot: Financial results: Key metrics for the second quarter of 2026 compared to the second quarter of 2025: Capital position and Stock Repurchase Program: GLENVILLE, N.Y., July 21, 2026 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, NASDAQ: TRST) today announced financial results for the second quarter of 2026 highlighted by a continued increase in net interest income and sustained loan and deposit growth across core lending and deposit categories. For the three months ended June 30, 2026, net interest income increased 9.2% year over year to $45.6 million. This was driven by the ongoing asset repricing across our loan portfolio at higher yields and effective execution of deposit growth and pricing strategies. For the three months ended June 30, 2026, net interest margin expanded to 2.87% from 2.71% in the prior year period. This resulted in second quarter 2026 net income of $17.0 million, or $0.98 diluted earnings per share, compared to net income of $15.0 million, or $0.79 diluted earnings per share, for the second quarter 2025; and net income of $33.3 million, or $1.89 diluted earnings per share, for the six months ended June 30, 2026, compared to net income of $29.3 million, or $1.54 diluted earnings per share, for the six months ended June 30, 2025. During the second quarter of 2026, TrustCo recognized an $844 thousand unrealized gain on equity securities resulting from the conversion of Visa Class B-2 shares into a combination of Visa Class B-3 and Visa Class C shares and the fair-value recognition of the Class C shares received. The Company had not sold the resulting Class C shares as of June 30, 2026. The Company originally obtained the Visa Class B shares in 2008. The strategic decision to retain the Class C shares and not sell them sooner, allowed the Company to avoid commissions and other expenses thus recognizing the full market value. Overview Chairman, President, and CEO, Robert J. McCormick, said “We are very pleased to report another quarter of stellar results. As expected, we have seen favorable repricing in our loan portfolio that has contributed to improving net interest margin. We also have seen steady growth in loans and deposits – each of which is up 3.8% year over year. This kind of symmetry in loan and deposit growth represents the ongoing realization of one of our long-time business goals. We take the deposits that we gather and lend those funds right back out into the communities that we serve. We also are realizing success on our long-term capital allocation strategy which has seen the company repurchase two million shares over the past year and a half, and we are on pace to purchase another million shares by the end of this year, which would bring the total for 2025-2026 to nearly 16% of TrustCo’s outstanding shares. We also are pleased to announce that we have moved into the building that we repurposed into our regional corporate headquarters in historic Longwood, Florida, which speaks volumes about our commitment to that great state.” Details We have continued to see meaningful net income and net interest income improvement. Management expects these improvements to remain sustainable. The loan and investment portfolios of TrustCo Bank (the “Bank”) continue to reprice upward as lower yielding assets mature and are replaced with higher rate loan originations and investment purchases, driving steady improvement in overall asset yields. We believe that this ongoing repricing reflects disciplined loan production aligned with current market conditions. Complementing this, the Bank maintains a strong liquidity position, driven by deposit growth while decreasing funding costs which underscores the Bank's disciplined relationship banking strategy and the value customers place on stability and service. We believe that these factors position the Bank to generate continued net income and net interest income growth in the coming quarters and deliver long-term value to shareholders. Net interest income was $45.6 million for the second quarter of 2026, an increase of $3.8 million, or 9.2%, compared to the second quarter of 2025, driven by loan growth at higher interest rates and a decrease in interest expense. The net interest margin for the second quarter of 2026 was 2.87%, up 16 basis points from 2.71% in the second quarter of 2025. The yield on interest-earning assets increased to 4.27% in the second quarter of 2026, up 8 basis points from 4.19% in the second quarter of 2025. The cost of interest bearing liabilities decreased to 1.79% in the second quarter of 2026, down from 1.91% in the second quarter of 2025. Average loans were up $197.5 million, or 3.8%, in the second quarter of 2026 over the same period in 2025. Average residential loans and Home Equity Credit Lines (HECLs), our primary lending focus, were up $142.0 million, or 3.2%, and $44.8 million, or 10.4%, respectively, in the second quarter of 2026 over the same period in 2025. Average commercial loans also increased $13.4 million, or 4.4%, in the second quarter of 2026 over the same period in 2025. Loan growth in the second quarter of 2026 remained steady, driven by continued strength in core relationship lending. Credit quality metrics were stable. Following this period of sustained growth, TrustCo remains confident in the quality of its loan portfolio amid broader market concerns. We believe that our continued focus on strong underwriting within our loan portfolio and conservative lending standards positions us to manage credit risk effectively in the current environment. The consistent growth in the loan portfolio will likely enhance net interest income in the quarters ahead. Average deposits were up $208.6 million, or 3.8%, for the second quarter of 2026 compared to the second quarter of 2025, primarily as a result of an increase in time deposits, interest bearing checking accounts, and demand deposits. The Bank’s ongoing emphasis on relationship banking, combined with competitive product offerings and digital capabilities, has contributed to a broadening deposit base that supports ongoing loan growth and expansion. During the second quarter of 2026, the Bank remained focused on capital deployment and allocation, guided by a disciplined framework, with share repurchases continuing to serve as a key tool to enhance shareholder value. This reflects our confidence in the long-term strength of the franchise and our focus on capital optimization. For the six months ended June 30, 2026, TrustCo repurchased one million shares, or 5.6%, of TrustCo’s outstanding common stock under its previously announced stock repurchase program, which authorizes TrustCo to repurchase up to two million shares, or 11.1%, of TrustCo’s outstanding common stock in 2026. We continue to believe that our approach ensures every dollar of capital is working to generate solid returns, strengthen customer relationships, and enhance shareholder value. As of June 30, 2026, our equity to asset ratio was 10.05%, compared to 10.91% as of June 30, 2025. Book value per share as of June 30, 2026 was $38.53, up 4.8% compared to $36.75 as of a year earlier. Asset quality remains strong and has been consistent over the past twelve months. TrustCo recorded a provision for credit losses of $650 thousand in the second quarter of 2026, flat compared to the same period in 2025. For the three months ended June 30, 2026, the provision for credit losses was the result of a provision for credit losses on loans of $1.0 million and a benefit for credit losses on unfunded commitments of $350 thousand. The ratio of allowance for credit losses on loans to total loans was 1.01% and 0.99% as of June 30, 2026 and June 30, 2025, respectively. The allowance for credit losses on loans was $54.1 million as of June 30, 2026, compared to $51.3 million as of June 30, 2025. Nonperforming loans (NPLs) were $21.8 million as of June 30, 2026, compared to $17.9 million as of June 30, 2025. NPLs were 0.40% and 0.35% of total loans as of June 30, 2026 and June 30, 2025, respectively. The coverage ratio, or allowance for credit losses on loans to NPLs, was 248.6% as of June 30, 2026, compared to 286.2% as of June 30, 2025. Nonperforming assets (NPAs) were $23.0 million as of June 30, 2026, compared to $19.0 million as of June 30, 2025. While NPLs increased modestly during the quarter, asset quality metrics remain stable and well covered by reserves, reflecting the Bank’s conservative underwriting standards. A conference call to discuss second quarter 2026 results will be held at 9:00 a.m. Eastern Time on July 22, 2026. Those wishing to participate in the call may dial toll-free for North America 1-833-461-5787, Meeting ID 562 250 806. The call will also be audio webcast at https://events.q4inc.com/attendee/562250806. The webcast replay will be available for one year at the same link. About TrustCo Bank Corp NY TrustCo Bank Corp NY is a $6.5 billion savings and loan holding company and through its subsidiary, Trustco Bank, operated 132 offices in New York, New Jersey, Vermont, Massachusetts, and Florida as of June 30, 2026. In addition, the Bank’s Wealth Management Department offers a full range of investment services, retirement planning and trust and estate administration services. The common shares of TrustCo are traded on the NASDAQ Global Select Market under the symbol TRST. Forward-Looking Statements All statements in this news release and the related earnings call 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 development, results or periods. Examples of forward-looking statements include, among others, statements we make regarding our expectations for our future performance, including our expectations regarding net income, net interest income and shareholder value for future quarters; the anticipated impact of our focus on underwriting within our loan portfolio and conservative lending standards; the expected impact of the continued repricing of our loan and investment portfolios, as well as our liquidity position, on our future net interest income and overall asset yields; the amount of shares that we expect to repurchase in 2026; and the anticipated effects of our capital management strategy, including our 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. Such forward-looking statements are subject to factors and uncertainties that could cause TrustCo’s actual results to differ materially from the views, beliefs and projections expressed in such statements. TrustCo wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The following important factors, among others, in some cases have affected and in the future could affect TrustCo’s actual results and could cause TrustCo’s actual financial performance to differ materially from that expressed in any forward-looking statement: future changes in interest rates; external economic factors, such as changes in monetary policy, ongoing inflationary pressures and continued elevated prices; exposure to credit risk in our lending activities; the risk of weakness in residential real estate markets; our increasing commercial loan portfolio; the sufficiency of our allowance for credit losses on loans to cover actual loan losses; our ability to meet the cash flow requirements of our depositors or borrowers or to meet our operating cash needs to fund corporate expansion and other activities; claims and litigation pertaining to fiduciary responsibility and lender liability; the enforcement of federal cannabis laws and regulations and its impact on our ability to provide services in the cannabis industry; our dependency upon the services of the management team; our disclosure controls and procedures’ ability to prevent or detect errors or acts of fraud; the adequacy of our business continuity and disaster recovery plans; the effectiveness of our risk management framework; the impact of any expansion by us into new lines of business or new products and services; the rising popularity of alternative financial products, including fintech platforms, cryptocurrencies, money market funds, and digital wallets; an increase in the prevalence of fraud and other financial crimes; the impact of severe weather events and climate change on us and the communities we serve, including societal responses to climate change; environmental, social and governance risks and their impact on our reputation and relationships; the chance of a prolonged economic downturn, especially one affecting our geographic market area; instability in global economic conditions and geopolitical matters, including as a result of the conflict between the United States (U.S.) and Iran, as well as volatility in financial markets; the chance of a downgrade in the credit rating of the U.S. government or a default by the U.S. government; the soundness of other financial institutions; U.S. government shutdowns; fluctuations in the trust wealth management fees we receive as a result of investment performance; the impact of regulatory capital rules on our growth; changes in laws and regulations, including changes in cybersecurity or privacy regulations; our compliance with laws designed to protect consumers, including the Community Reinvestment Act and fair lending laws; restrictions on data collection and use; our compliance with the USA PATRIOT Act, Bank Secrecy Act, and other laws and regulations that could result in material fines or sanctions; changes in tax laws; limitations on our ability to pay dividends; TrustCo Realty Corp.’s ability to qualify as a real estate investment trust; changes in accounting standards; competition within our market areas; consumers and businesses’ use of non-banks to complete financial transactions; our reliance on third-party service providers; the impact of data breaches and cyber-attacks; the development and use of artificial intelligence; the impact of a failure in or breach of our operational or security systems or infrastructure, or those of third parties; the impact of an unauthorized disclosure of sensitive or confidential client or customer information; the impact of interruptions in the effective operation of our computer systems; the impact of anti-takeover provisions in our organizational documents; the impact of the manner in which we allocate capital; the impact of the actions of activist shareholders; and other risks and uncertainties set forth in our public filings made with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2025, our Quarterly Report on Form 10-Q for the first quarter of 2026, our upcoming quarterly report on Form 10-Q for the second quarter of 2026, and future reports to be filed with the SEC. 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. Non-GAAP Financial Measures Reconciliation Tangible equity as a percentage of tangible assets at period end is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible equity and tangible assets by excluding the balance of intangible assets from total shareholders’ equity and total assets, respectively. We calculate tangible equity as a percentage of tangible assets at period end by dividing tangible equity by tangible assets at period end. We believe that this is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios. Additionally, we believe that this measure is important to many investors in the marketplace who are interested in relative changes from period to period in equity and total assets, each exclusive of changes in intangible assets. Adjusted efficiency ratio is a non-GAAP measure of expense control relative to revenue from net interest income and non-interest fee income. We calculate the efficiency ratio by dividing total non-interest expense as determined under GAAP by the sum of net interest income and total non-interest income as determined under GAAP. We calculate the adjusted efficiency ratio by dividing total non-interest expenses as determined under GAAP, excluding other real estate expense, net, by the sum of net interest income and total non-interest income as determined under GAAP, excluding net gains on equity securities. We believe that this provides a reasonable measure of primary banking expenses relative to primary banking revenue. Additionally, we believe this measure is important to investors looking for a measure of efficiency in our productivity measured by the amount of revenue generated for each dollar spent. We believe that these non-GAAP financial measures provide information that is important to investors and that is useful in understanding our financial results. Our management internally assesses our performance based, in part, on these measures. However, these non-GAAP financial measures are supplemental and not a substitute for an analysis based on GAAP measures. As other companies may use different calculations for these measures, this presentation may not be comparable to other similarly titled measures reported by other companies. A reconciliation of the non-GAAP measures of tangible equity as a percentage of tangible assets, and adjusted efficiency ratio to the most directly comparable GAAP measures is set forth below.

GLENVILLE, N.Y., July 10, 2026 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it will release second quarter 2026 results after the market close on July 21, 2026. 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, 2026. Those wishing to participate in the call may dial toll-free for North America 1-833-461-5787, Meeting ID 562 250 806. The call will also be audio webcast at https://events.q4inc.com/attendee/562250806. The webcast replay will be available for one year at the same link. The earnings press release will be posted on the Company’s Investor Relations website at: https://trustcobank.q4ir.com/corporate-overview/corporate-profile/default.aspx. Other information, including the Company’s most recent annual report, proxy statement and filings with the Securities and Exchange Commission can also be found at this website. TrustCo Bank Corp NY is a $6.5 billion savings and loan holding company and through its subsidiary, Trustco Bank, operates 132 offices in New York, New Jersey, Vermont, Massachusetts, and Florida. For more information, visit www.trustcobank.com. In addition, the Bank’s Wealth Management Department offers a full range of investment services, retirement planning and trust and estate administration services. The common shares of TrustCo are traded on The NASDAQ Global Select Market under the symbol TRST. 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. 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 factors 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 include, but are not limited to: volatility in financial markets and the soundness of other financial institutions; U.S. government shutdowns, credit rating downgrades, or failure to increase the debt ceiling; changes in interest rates; the effects of inflation and inflationary pressures and changes in monetary and fiscal policies and laws, including changes in the Federal funds target rate by, and interest rate policies of, the Federal Reserve Board; ongoing armed conflicts (including the Russia/Ukraine conflict and the conflict in Israel and surrounding areas); the risks and uncertainties under the heading “Risk Factors” in our most recent annual report on Form 10-K and, if any, in our subsequent quarterly reports on Form 10-Q; 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

GLENVILLE, N.Y., May 20, 2026 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on May 19, 2026 declared a quarterly cash dividend of $0.38 per share, or $1.52 per share on an annualized basis. The dividend will be payable on July 1, 2026 to shareholders of record at the close of business on June 5, 2026. Chairman, President, and Chief Executive Officer Robert J. McCormick said: “We are very pleased that the performance of the company continues to support our century-long commitment to a meaningful quarterly dividend. We are proud to announce the declaration of a cash dividend again this quarter.   We believe that the strong shareholder support for our directors and the compensation of our named executive officers at our annual meeting yesterday is a vote of confidence in the way the bank is being run, including the capital and dividend policies.” About TrustCo Bank Corp NY TrustCo Bank Corp NY is a $6.5 billion savings and loan holding company and through its subsidiary, Trustco Bank, operated 132 offices in New York, New Jersey, Vermont, Massachusetts, and Florida. In addition, the Bank’s Wealth Management Department offers a full range of investment services, retirement planning and trust and estate administration services. The common shares of TrustCo are traded on the NASDAQ Global Select Market under the symbol TRST. 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 for our future performance, including our expectations regarding our capital position and capital management strategy, including our 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 which are subject to factors and uncertainties that could cause actual results to differ materially for TrustCo from the views, beliefs and projections expressed in or implied by such statements, including but not limited to, risks and uncertainties relating to future changes in interest rates; external economic factors, such as changes the interest rate policies of the Federal Reserve Board and other changes in monetary policy, as well as ongoing inflationary pressures and continued elevated prices; exposure to credit risk in our lending activities; the risk of weakness in residential real estate markets; limitations on our ability to pay dividends; the impact of the manner in which we allocate capital; the risks and uncertainties set forth under the heading “Risk Factors” in our most recent Annual Report on Form 10-K for the year ended December 31, 2024, and, if any, our subsequent Quarterly Reports on Form 10-Q; the financial, operational and legal risks and uncertainties detailed from time to time in TrustCo’s filings with the Securities and Exchange Commission, including within the cautionary statements contained in such filings; 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

Net income was $16.3 million in Q1 2026, up 14.1% year‑over‑year, with returns improving to a 1.02% ROA, 9.66% ROE and an efficiency ratio of 54%. Net interest income rose 10.7% to $44.7 million and NIM widened 20 bps to 2.84% as funding costs fell and the loan portfolio reached an all‑time high of $5.3 billion, led by residential and home‑equity growth. Management is aggressively deploying capital via buybacks—522,000 shares repurchased in Q1 with authorization for 2 million in 2026—while credit metrics remain sound (allowance coverage 247%) though provisions increased modestly due to loan growth and forward‑looking economic assumptions. Interested in TrustCo Bank Corp NY? Here are five stocks we like better. TrustCo Bank Corp NY (NASDAQ:TRST) reported what management called a strong start to 2026, citing higher net income, expanding margin, continued loan and deposit growth, and an accelerating share repurchase program. Chairman, President and CEO Robert J. McCormick said the company posted “net income of over $16 million,” alongside “improving margin” and “positive return metrics.” CFO Mike Ozimek provided the company’s reported results for the first quarter of 2026, including net income of $16.3 million, up 14.1% from the first quarter of 2025. Ozimek said the quarter produced a return on average assets of 1.02% and a return on average equity of 9.66%. → Credo Stock Flashes Strong Bullish Signal—Upswing Just Starting McCormick highlighted improvements year over year in key performance measures, stating that return on average assets increased 10% to 1.02, return on average equity grew 14% to 9.66, and the efficiency ratio improved to 54%. Ozimek also discussed capital and book value metrics. He said the consolidated equity-to-assets ratio was 10.31% for the first quarter of 2026, compared with 10.85% in the first quarter of 2025. Book value per share was $38.32 at March 31, 2026, up 6% from $36.16 a year earlier. → Allbirds Exits Shoes, Pivots to AI With NewBird Rebrand Management attributed part of the earnings improvement to funding and pricing actions. McCormick said net income improved in part because of “strategic pricing of our time deposit products,” which reduced the company’s cost of funds. He also emphasized that the loan portfolio is repricing as lower-rate loans are replaced with higher-earning loans, adding that the loan portfolio reached “another all-time high this quarter” and that the impact of repricing is becoming “more pronounced.” Ozimek said net interest income was $44.7 million in the first quarter of 2026, an increase of $4.3 million, or 10.7%, from the prior-year quarter. He reported net interest margin of 2.84% for the first quarter of 2026, up 20 basis points from the prior-year quarter. Yield on interest-earning assets increased to 4.23%, up 10 basis points year over year, while the cost of interest-earning liabilities fell to 1.79% from 1.92%. → Amazon Stock Up 30%: Is AMZN Still a Buy Before Earnings? Ozimek said the company believes it is “well positioned to continue delivering strong net interest income performance,” even as the Federal Reserve considers potential rate changes. Chief Banking Officer Kevin Curley said average loans increased $158.9 million, or 3.1%, year over year to $5.3 billion, which Ozimek described as an all-time high. Curley said this marked an improvement from the prior quarter’s year-over-year growth of $126.8 million. Curley and Ozimek both pointed to residential categories as key drivers. Ozimek said the home equity lines of credit portfolio increased $50.8 million, or 12.3%, while the residential real estate portfolio grew $93.2 million, or 2.1%. Ozimek added that average commercial loans increased $17.1 million, or 5.8%, which he said reflected a strong local economy and increased demand for debt. On a linked-quarter basis, Curley said actual loans increased $37.7 million compared with the fourth quarter, including $35.3 million of growth in purchased mortgage loans (including refinances and home equity loans) and a $3.3 million increase in commercial loans. Curley said mortgage origination improved during the quarter and year over year, with refinancing activity picking up early in the quarter when rates were lower and then easing as market rates moved higher. He described a rate environment that began lower, rose closer to 6.75%, and then receded into a 6% to 6.25% range. Curley said the bank continued to offer competitive mortgage rates, including a 30-year fixed rate at 5.99%. Ozimek said total deposits ended the quarter at $5.7 billion, up $156 million from the prior-year quarter. He attributed deposit stability to relationship banking, competitive product offerings, and digital capabilities. McCormick also pointed to non-interest income as a contributor to results, saying wealth management income rose 9% quarter over quarter. Ozimek said the wealth management division had approximately $1.26 billion of assets under management as of March 31, 2026, and that wealth management and financial services fees represented 44.1% of non-interest income. He noted that most of this fee income is recurring and tied to long-term advisory relationships. On credit quality, Ozimek said non-performing loans increased to $21.5 million in the first quarter of 2026 from $18.8 million a year earlier, with non-performing loans to total loans rising to 41 basis points from 37 basis points. Non-performing assets to total assets was 35 basis points, up from 33 basis points a year earlier. Curley characterized asset quality as “very strong,” saying early-stage delinquencies remained stable. He reported net recoveries of $39,000 during the quarter, following a net recovery of $14,000 in the fourth quarter and total recoveries of $238,000 over the past year. Curley said the allowance for credit losses was $53 million at quarter end, with a coverage ratio of 247%. The provision for credit losses was $950,000 in the first quarter. During the Q&A session, an analyst asked why the provision increased versus last year despite what he called solid portfolio metrics. Ozimek said the company is still using the baseline Moody’s forecast, and that roughly half of the increase was driven by loan growth and half by the forward-looking component of the forecast, which includes economic factors “looking slightly negative on the go forward.” On deposit pricing competition, McCormick told investors the environment was “the same old, same old,” pointing to consumers pushing for higher CD rates and competitive pressure from credit unions. Management also emphasized capital deployment through repurchases. McCormick said the company repurchased one million shares during 2025 and received authorization to repurchase an additional two million shares in 2026, calling buybacks the “centerpiece” of capital deployment. Ozimek said the company repurchased 522,000 shares in the first quarter, representing 2.9% of outstanding common stock, under a program allowing up to two million shares, or 11.1% of common stock, to be repurchased in 2026. Asked about the Common Equity Tier 1 ratio and how low management would be comfortable letting it move as repurchases continue, McCormick said the company had not yet disclosed the ratio but that it was “trending down the same way that the leverage ratio is trending down,” adding that management would not jeopardize capital or liquidity to repurchase shares. TrustCo Bank Corp. NY (NASDAQ: TRST) is a bank holding company headquartered in Glens Falls, New York, that provides a full suite of community banking and financial services primarily across upstate New York and western Massachusetts. Through its wholly owned subsidiary, Trustco Bank, the company offers deposit products such as checking and savings accounts, as well as consumer, residential mortgage, and commercial lending solutions. Additional services include wealth management, trust administration, and insurance products tailored to the needs of individuals, businesses and nonprofit organizations. Founded in 1902 as the Glens Falls Trust Company, TrustCo Bank has grown steadily through organic branch expansion and acquisitions of locally based banks. The article "TrustCo Bank Corp NY Q1 Earnings Call Highlights" was originally published by MarketBeat.

This article first appeared on GuruFocus. Net Income: $16.3 million, an increase of 14.1% over the prior year quarter. Return on Average Assets: 1.02%, a 10% increase year-over-year. Return on Average Equity: 9.66%, a 14% increase year-over-year. Efficiency Ratio: 54%, a decrease of 6% year-over-year. Net Interest Income: $44.7 million, an increase of 10.7% compared to the prior year quarter. Net Interest Margin: 2.84%, up 20 basis points from the prior year quarter. Book Value Per Share: $38.32, up 6% compared to a year earlier. Loan Portfolio Growth: Average loans grew 3.1% or $158.9 million to $5.3 billion. Home Equity Lines of Credit Growth: Increased $50.8 million or 12.3% year-over-year. Residential Real Estate Portfolio Growth: Increased $93.2 million or 2.1% year-over-year. Commercial Loans Growth: Increased $17.1 million or 5.8% year-over-year. Total Deposits: $5.7 billion, up $156 million compared to the prior year quarter. Nonperforming Loans: $21.5 million, increased from $18.8 million in the prior year quarter. Allowance for Credit Losses: $53 million with a coverage ratio of 247%. Share Repurchase: 522,000 shares repurchased, 2.9% of outstanding common stock. Warning! GuruFocus has detected 6 Warning Sign with TRST. Is TRST fairly valued? Test your thesis with our free DCF calculator. Release Date: April 22, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Trustco Bank Corp N Y (NASDAQ:TRST) reported a strong start to 2026 with net income exceeding $16 million, marking a 14.1% increase over the prior year quarter. The company's strategic pricing of time deposit products has effectively reduced the cost of funds, contributing to improved margins. Noninterest income from the wealth management department increased by 9% quarter-over-quarter, highlighting growth in this segment. The loan portfolio reached an all-time high, with loans repricing at higher rates, positively impacting financial performance. Trustco Bank Corp N Y (NASDAQ:TRST) is actively executing its share buyback program, repurchasing over 500,000 shares in the first quarter, demonstrating a commitment to returning value to shareholders. Nonperforming loans increased to $21.5 million in the first quarter of 2026, up from $18.8 million in the first quarter of 2025. The provision for credit losses more than tripled compared to a year ago, driven by loan growth and a cautious economic outlook. Competitive pressure on deposit pricing remains a challenge, with consumers demanding higher CD rates. The consolidated equity to assets ratio decreased to 10.31% from 10.85% in the previous year, indicating a slight decline in capital strength. Noninterest expense increased by $631,000 from the prior year quarter, reflecting higher operational costs. Q: The provision for credit losses more than tripled compared to a year ago despite stable portfolio metrics. Are you still using the baseline Moody's forecast? A: Yes, we are still using the baseline Moody's forecast. The increase in provision is driven by loan growth and the forward-looking component of the Moody's forecast, which indicates some negative economic factors. - Michael Ozimek, CFO Q: The release mentions competitive pressure on deposit pricing. Is there anything new or changing in this area? A: There is nothing new, but consumers are pushing for higher CD rates more than ever. We also face competition from credit unions, which are tough competitors from a rate perspective. - Robert McCormick, CEO Q: What is the Tier 1 common equity ratio, and what is your comfort level with share repurchases affecting this ratio? A: We haven't disclosed the CET1 ratio yet, but it is trending down similarly to the leverage ratio. We are committed to share repurchases but will not jeopardize our capital or liquidity positions. - Robert McCormick, CEO and Michael Ozimek, CFO Q: Can you elaborate on the impact of competitive deposit offerings on your financial stability and community banking support? A: Our competitive deposit offerings, combined with relationship banking and digital capabilities, have contributed to a stable deposit base that supports ongoing loan growth and expansion. - Michael Ozimek, CFO Q: How is the Wealth Management division contributing to noninterest income? A: The Wealth Management division is a significant source of recurring noninterest income, with $1.26 billion of assets under management. It represents 44.1% of noninterest income, supported by long-term advisory relationships and a growing base of managed assets. - Michael Ozimek, CFO For the complete transcript of the earnings call, please refer to the full earnings call transcript.