GLENVILLE, N.Y., Aug. 19, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on August 19, 2025 declared an increased quarterly cash dividend of $0.38 per share, or $1.52 per share on an annualized basis. The declared dividend represents an increase of 5.6% over the prior dividend amount. The dividend will be payable on October 1, 2025 to shareholders of record at the close of business on September 5, 2025. Chairman, President, and Chief Executive Officer Robert ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Commission File Number 000-10592 TRUSTCO BANK CORP NY (Exact name of registrant as specified in its charter) NEW YORK 14-1630287 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECU ...

Financial Data and Key Metrics Changes - The net income for the quarter was $15 million, representing a 19.8% increase year-over-year, with year-to-date income nearly reaching $30 million [10][5] - Return on average assets and average equity were 0.968% and 73% respectively, indicating strong performance [10] - The consolidated equity to assets ratio improved to 10.91% from 10.73% year-over-year [10] - Book value per share increased by 6.6% to $36.75 compared to $34.46 a year earlier [11] Business Line Data and Key Metrics Changes - Average loans grew by 2.3% or $115.6 million to an all-time high of $5.1 billion [11] - Home equity products increased by 18% year-over-year, with a notable growth of $64.7 million or 17.8% [6][11] - The commercial loan portfolio grew by 11% over the past year, with an increase of $25.8 million or 9.2% [6][11] - Installment loans decreased by $2.9 million over the same period [12] Market Data and Key Metrics Changes - Total deposits reached $5.5 billion, up $213 million compared to the prior year quarter, indicating strong customer confidence [12][13] - The net interest margin for 2025 was 2.71%, up 18 basis points from the prior year quarter [13] - Yield on interest-earning assets increased to 4.19%, up 13 basis points from the prior year quarter [13] Company Strategy and Development Direction - The company has focused on amassing capital to provide low-cost funds for lending, capitalizing on favorable interest rate environments [5] - The strategy includes a disciplined share repurchase program, reflecting confidence in long-term strength [11] - The wealth management division remains a significant source of non-interest income, with assets under management at approximately $1.2 billion [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the positive momentum established in 2025, which may extend into 2026 [9] - The bank is well-positioned to continue delivering strong net interest income performance despite potential easing from the Federal Reserve [14] - The local economy shows strong demand for credit, particularly in Florida and the Northeast [28] Other Important Information - Non-interest income from wealth management and financial services fees increased by 13% to $1.8 million, representing 37.5% of non-interest income [15] - Total non-interest expense net of ORE expense was $25.7 million, down $600,000 from the prior year quarter [15] Q&A Session Summary Question: Is the strong local demand in Florida as well as in the Northeast? - Management confirmed that demand is strong across all markets, with Florida showing the best demand [28] Question: What is the rate for maturing CDs compared to current issuances? - The average rate for maturing CDs is 3.91%, while the highest current rate is 4% for three months [29][30] Question: What types of borrowers are being lent to, and what is the mix between secured and unsecured loans? - The majority of commercial loans, over 90%, are secured by real estate, including smaller multifamily projects and small office offerings [32]

Financial Data and Key Metrics Changes - The company reported a net income of $15 million for the quarter, representing a 19.8% increase year-over-year, with year-to-date net income nearing $30 million [6][11] - Return on average assets and average equity were 0.97% and 8.73% respectively, indicating strong performance [11] - The consolidated equity to assets ratio improved to 10.91% from 10.73% a year earlier [11] - Book value per share increased by 6.6% to $36.75 compared to $34.46 a year earlier [12] Business Line Data and Key Metrics Changes - Average loans grew by 2.3% or $115.6 million to an all-time high of $5.1 billion [12] - Home equity products saw an 18% increase year-over-year, while commercial loans grew by 11% [7][12] - The residential real estate portfolio increased by $27.9 million or 0.6%, and installment loans decreased by $2.9 million [12] Market Data and Key Metrics Changes - Total deposits reached $5.5 billion, up $213 million compared to the prior year, reflecting strong customer confidence [13][14] - The net interest margin improved to 2.71%, up 18 basis points from the prior year [14] - Yield on interest-earning assets increased to 4.19%, up 13 basis points from the prior year [14] Company Strategy and Development Direction - The company has focused on amassing capital to provide low-cost funds for lending, capitalizing on favorable interest rate environments [6][7] - The strategy includes a disciplined share repurchase program, reflecting confidence in long-term strength [12] - The wealth management division is a significant source of non-interest income, with assets under management totaling approximately $1.2 billion [15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the positive momentum established in 2025, which may extend into 2026 [10] - The bank is well-positioned to continue delivering strong net interest income performance despite potential easing from the Federal Reserve [15] - Asset quality remains strong, with non-performing loans decreasing to 0.35% of total loans [21][22] Other Important Information - The company repurchased 169,000 shares of common stock during the second quarter [12] - Total non-interest expense net of ORE expense was $25.7 million, down $600,000 from the prior year [16] Q&A Session Summary Question: Is the strong local demand in Florida as well as in the Northeast? - Management confirmed that demand is strong across all markets, with Florida showing the best demand [28] Question: What is the rate for maturing CDs compared to current issuances? - The average rate for maturing CDs is 3.91%, while the highest current rate is 4% for three months [29][30] Question: What types of borrowers are being lent to, and what is the mix between secured and unsecured? - The majority of commercial loans, over 90%, are real estate-related, including smaller multifamily projects and small office offerings [32]

FOR IMMEDIATE RELEASE: Exhibit 99.1(a) News Release 5 Sarnowski Drive, Glenville, New York, 12302 (518) 377-3311 Fax: (518) 381-3668 Subsidiary: Trustco Bank Nasdaq -- TRST Contact: Robert Leonard Executive Vice President (518) 381-3693 Skillful Application of Fundamental Principles Yields Standout Results: TrustCo Announces Net Income Up 19.8%; Net Interest Income up 10.5% Executive Snapshot: • Bank-wide financial results: • Capital position and key ratios: • Trustco Financial Services and Wealth Managemen ...

Executive Summary - TrustCo Bank Corp NY reported strong financial results for Q2 2025, with net interest income rising 10.5% year over year to $41.7 million, driven by higher loan yields and controlled deposit costs [2][5][8] - The net income for Q2 2025 was $15.0 million, or $0.79 diluted earnings per share, reflecting a 19.8% increase compared to the same period in 2024 [5][16] - Loan growth accelerated, with total average loans increasing by $115.6 million, or 2.3%, signaling increased borrower confidence [2][4][6] Financial Performance - Net interest margin expanded to 2.71%, up from 2.53% in Q2 2024, due to improved asset yields and prudent deposit pricing strategies [2][5][8] - Return on average assets improved by 17% year over year, while return on average equity grew by 12.5% [3][5] - Non-interest income increased to $4.9 million, primarily driven by a 13.0% rise in wealth management and financial services fees [9][10] Loan and Deposit Growth - Average loans increased by $115.6 million, or 2.3%, in Q2 2025 compared to Q2 2024, with residential loans up by $27.9 million and home equity credit lines up by 17.8% [4][6] - Average deposits rose by $173.4 million, or 3.3%, primarily due to increases in time deposits and interest-bearing checking accounts [6][8] Asset Quality and Credit Losses - Non-performing loans decreased to $17.9 million, or 0.35% of total loans, down from $19.2 million, or 0.38%, in the previous year [10][17] - The allowance for credit losses on loans was $51.3 million, maintaining a ratio of 0.99% of total loans [10][17] Capital Position - Consolidated equity to assets increased to 10.91% as of June 30, 2025, compared to 10.73% a year earlier [5][7] - Book value per share rose to $36.75, up from $34.46 in the previous year, reflecting a 6.6% increase [5][7] Strategic Focus - The company emphasized a strategic focus on high-quality relationship lending, with significant growth in home equity products and commercial loans [3][4] - TrustCo's disciplined share repurchase program reflects confidence in the long-term strength of the franchise [7][8]

Company Overview - TrustCo Bank Corp NY is a savings and loan holding company with a total asset value of $6.3 billion [3] - The company operates 136 offices across New York, New Jersey, Vermont, Massachusetts, and Florida through its subsidiary, Trustco Bank [3] - TrustCo's common shares are traded on the NASDAQ Global Select Market under the symbol TRST [3] Upcoming Financial Results - TrustCo Bank Corp NY will release its second quarter 2025 results after the market close on July 21, 2025 [1] - A conference call to discuss the results is scheduled for 9:00 a.m. Eastern Time on July 22, 2025 [1] - The earnings press release will be available on the company's Investor Relations website [2]

Core Viewpoint - TrustCo Bank Corp NY has declared a quarterly cash dividend of $0.36 per share, reflecting the company's strong financial performance in the first quarter of 2025 [1][2]. Company Overview - TrustCo Bank Corp NY is a savings and loan holding company with total assets of $6.3 billion, operating 136 offices across New York, New Jersey, Vermont, Massachusetts, and Florida [2]. - The company has a history of uninterrupted dividend payments since 1904, indicating a strong commitment to returning value to shareholders [2]. - TrustCo Bank is recognized as one of the best-performing savings banks in the United States, offering a variety of deposit and loan products, as well as investment services and retirement planning [2]. Dividend Details - The declared dividend of $0.36 per share will be payable on July 1, 2025, to shareholders of record as of June 6, 2025, which translates to an annualized dividend of $1.44 per share [1][2].

Financial Performance - TrustCo recorded net income of $14.3 million, or $0.75 of diluted earnings per share, for Q1 2025, compared to $12.1 million, or $0.64 per share, in Q1 2024, representing a 18.2% increase in net income [134]. - The return on average assets improved to 0.93% in Q1 2025 from 0.80% in Q1 2024, while return on average equity increased to 8.49% from 7.54% [134]. - Net interest income rose by $3.8 million to $40.4 million in Q1 2025, with the net interest margin up 20 basis points to 2.64% [165]. - Total noninterest income for the first quarter of 2025 was $5.0 million, an increase from $4.8 million in the same period of 2024, driven by a $304 thousand increase in Trustco financial services income [188]. - Total noninterest expenses for the first quarter of 2025 were $26.3 million, a 5.7% increase from $24.9 million in the first quarter of 2024 [190]. - TrustCo declared a dividend of $0.36 per share in the first quarter of 2025, resulting in a dividend payout ratio of 47.97% based on first quarter 2025 earnings of $14.3 million [193]. Asset and Liability Management - Total average interest earning assets rose from $5.99 billion in Q1 2024 to $6.11 billion in Q1 2025, with an average yield of 4.13% [146]. - The average loan portfolio grew by $104.7 million to $5.11 billion, with the average yield on loans increasing by 21 basis points to 4.19% [148]. - The average balance of interest bearing liabilities increased by $57.7 million, while the average rate paid decreased by 7 basis points to 1.92% [147]. - Total average interest-bearing deposits increased by $67.8 million to $4.65 billion in Q1 2025, with the average rate paid decreasing from 2.02% to 1.94% [161]. - The average balance of Federal Funds sold and other short-term investments increased by $116.0 million to $613.6 million in Q1 2025, but the yield decreased to 4.45% [158]. - TrustCo's total liabilities and shareholders' equity reached $6.3 billion in Q1 2025, up from $6.1 billion in Q1 2024, reflecting a growth of approximately 2.0% [205]. Loan and Credit Quality - Nonperforming loans totaled $18.8 million as of March 31, 2025, with a significant portion being residential real estate loans [167]. - The provision for credit losses recorded in Q1 2025 was $300 thousand, driven by loan growth and an increase in unfunded loan commitments [178]. - As of March 31, 2025, the allowance for credit losses on loans was $50.6 million, up from $50.2 million as of December 31, 2024, representing 0.99% of the loan portfolio [180]. - Net recoveries for the three-month period ended March 31, 2025, were $258 thousand, compared to $42 thousand for the prior year period [181]. - The allowance for credit losses on loans was $50.5 million in Q1 2025, slightly up from $48.8 million in Q1 2024, reflecting a cautious approach to credit risk management [205]. Market and Economic Conditions - Economic uncertainty persists with a modest increase in unemployment to 4.2%, and economists are evaluating the possibility of a recession in the second half of 2025 [131]. - The Federal Funds rate remained flat at a range of 5.25% to 5.50% as of March 31, 2025 [139]. Capital and Shareholder Information - As of March 31, 2025, total shareholders' equity was $687.8 million, compared to $676.3 million as of December 31, 2024 [193]. - The capital ratios as of March 31, 2025, included a Tier 1 leverage ratio of 10.533%, a common equity tier 1 capital ratio of 18.660%, and a total risk-based capital ratio of 19.913% [195]. - TrustCo's consolidated equity to total assets ratio was 10.85% as of March 31, 2025, compared to 10.84% at December 31, 2024 [195]. - The Company announced a share repurchase program of up to 1,000,000 shares, approximately 5% of its currently outstanding common stock [199]. Investment and Securities - The average balance of securities available for sale decreased to $369.9 million in Q1 2025 from $477.4 million in Q1 2024, while the average yield increased to 2.62% [153]. - Total securities available for sale decreased to $369.9 million in Q1 2025 from $477.4 million in Q1 2024, a decline of 22.5% [205]. - TrustCo does not engage in derivatives, focusing instead on traditional investment strategies to manage interest rate risk [207].

Financial Data and Key Metrics Changes - The company reported a net income of $14.3 million for Q1 2025, an increase of 17.7% compared to the same quarter last year [13] - Return on average assets and return on average equity were 0.93% and 8.49%, respectively, both up 27% year-over-year [8] - Consolidated equity to assets ratio was 10.85%, up 3% year-over-year, and shareholders' equity increased by 6% year-over-year [9][14] - Net interest income for Q1 2025 was $40.4 million, a 10.4% increase from the prior year [18] Business Line Data and Key Metrics Changes - Total loans increased by $104.7 million or 2.1% year-over-year, reaching an all-time high of $5.1 billion [15] - Home equity lines of credit grew by $61 million or 17.3%, while residential real estate loans increased by $26.2 million [16][24] - Commercial loans rose by $20.7 million or 7.5% compared to the same period in 2024 [16][24] Market Data and Key Metrics Changes - Total deposits reached $5.5 billion, up $142 million compared to the prior year [17] - The yield on interest-earning assets increased to 4.13%, while the cost of interest-bearing liabilities decreased to 1.92% [18] Company Strategy and Development Direction - The company is focusing on relationship banking and solid financial practices to navigate a complex economic environment [18] - A stock repurchase program of up to 1 million shares was announced, representing approximately 5% of current outstanding shares, aimed at enhancing shareholder value [15] Management's Comments on Operating Environment and Future Outlook - Management noted a strong local economy, particularly in the Capital District and Central Florida, which supports their lending activities [35][36] - The expectation for residential home prices is stable, with no significant increases anticipated [38] - The bank is preparing for potential interest rate reductions in 2025, which may provide opportunities to manage deposit costs effectively [19] Other Important Information - Non-performing loans remained flat at 0.37%, indicating strong asset quality [9][28] - Wealth Management division had approximately $1.1 billion in assets under management, with non-interest income increasing by 16.7% [20] Q&A Session Summary Question: Is the strong local economy specific to the Capital region or all markets? - Management indicated stability in strong markets, particularly in the Capital District and Central Florida, which are less affected by economic fluctuations [35][36] Question: What are the trends in residential home prices? - Management stated that home prices are stable, with no significant increases expected [38] Question: What changed regarding the share repurchase plan compared to last year? - Management noted that the 5% repurchase plan reflects a more favorable tone towards share repurchases this year, with an intent to fully execute [40] Question: What target capital ratio is being contemplated? - Management did not specify a target capital ratio but indicated room for additional repurchases while maintaining a strong capital position [42]