GLENVILLE, N.Y., Feb. 17, 2026 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on February 17, 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 April 1, 2026 to shareholders of record at the close of business on March 6, 2026. Chairman, President, and Chief Executive Officer Robert J. McCormick said: “The generation of long-term shareholder value is a central focus for our board a ...

Core Viewpoint - HoldCo Asset Management has decided to withdraw its threat of proxy contests against KeyCorp and Eastern Bankshares, citing positive changes made by the management teams to enhance shareholder rights and market value [1][2]. Group 1: Changes in Management and Strategy - HoldCo praised the leadership of both banks for making significant changes, contrasting with its previous criticisms regarding shareholder-unfriendly decisions that led to share dilution [2][6]. - KeyCorp's CEO Chris Gorman, previously criticized by HoldCo, is now supported by the firm, which acknowledges his willingness to adapt as a positive trait for the bank's future [8][11]. - Eastern Bankshares has been recognized for reversing a flawed acquisition strategy, which HoldCo believes demonstrates courage and leadership [12]. Group 2: Ongoing Monitoring and Future Actions - Despite withdrawing from proxy contests, HoldCo remains a shareholder and will actively monitor both banks, indicating a readiness to take action if management decisions do not align with shareholder interests [3][8]. - HoldCo has reiterated its belief that Eastern Bankshares should ultimately be sold, with M&T Bank identified as a potential buyer [3][12]. Group 3: Broader Context of Activism - HoldCo's decision follows a period of active engagement with multiple banks, resulting in material changes in their strategies, including four other banks that have made significant adjustments [5][6]. - The firm had previously launched public campaigns against five banks, with some management teams making substantive changes that altered their trajectories [6][7].

Bashar is a contributing writer at Seeking Alpha, focusing on Long/Short investment ideas, with a geographic focus in North America. Before that, Bashar worked at an Investment Fund in the United Kingdom. He has a Master's degree in Finance from the Queen Mary University of London and a Bachelor's degree in Economics from Middlesex University.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within t ...

Financial Data and Key Metrics Changes - TrustCo Bank reported a net income of $15.6 million for Q4 2025, representing a 38% increase compared to Q4 2024, with a return on average assets of 0.97% and average equity of 8.99% [5][7] - The consolidated equity to assets ratio was 10.66% for Q4 2025, down from 10.84% in Q4 2024 [7] - Book value per share increased by 7.1% to $38.08 from $35.56 a year earlier [8] Business Line Data and Key Metrics Changes - Average loans grew by 2.5%, or $126.8 million, reaching an all-time high of $5.2 billion [9] - Home equity lines of credit increased by $54.1 million, or 13.5%, while residential real estate portfolio grew by $50.6 million, or 1.2% [9][10] - Average commercial loans increased by $24.5 million, or 8.6%, while installment loans decreased by $2.4 million, or 17.3% [10] Market Data and Key Metrics Changes - Total deposits reached $5.6 billion, up $166 million compared to the prior year quarter, indicating strong customer confidence [10] - The bank's net interest income was $43.7 million for Q4 2025, an increase of 12.4% compared to the prior year quarter [11] - The net interest margin improved to 2.82%, up 22 basis points from the prior year quarter [11] Company Strategy and Development Direction - The company emphasized building solid customer relationships and maintaining low cost of funds, which contributed to margin expansion [4] - TrustCo Bank is committed to returning value to shareholders through a disciplined share repurchase program, having repurchased 533,000 shares in Q4 2025 [8] - The bank's strategy includes a focus on relationship banking and competitive product offerings to support ongoing loan growth [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the bank's long-term strength and ability to manage credit risk effectively despite a modest increase in non-performing loans [9][18] - The bank remains well-positioned to deliver strong net interest income performance even with potential Federal Reserve rate changes [11] - Management is actively seeking new branch locations, particularly in Pasco County, Florida, to capture mortgage business as market dynamics shift [33] Other Important Information - Non-performing loans increased to $20.7 million, with a ratio of 0.39% of total loans, up from 0.37% a year ago [9][18] - Total non-interest expense for Q4 2025 was $26.5 million, down $1.5 million from the prior year quarter [12] Q&A Session Summary Question: Inquiry about asset quality and increase in New York commercial NPLs - Management indicated the increase was due to two relationships involving multi-family properties in Schenectady and Albany [23][24] Question: Clarification on collateral and guarantees for NPLs - Management confirmed that all loans in the portfolio are guaranteed, ensuring good collateral [25] Question: Inquiry about the increase in other expenses - Management explained that year-end expenses included funding for the TrustCo Foundation and other larger expenses [28] Question: Guidance for 2026 expenses - Management provided a range of expected recurring non-interest expenses for 2026, indicating no significant drivers for the increase [29][30] Question: Outlook on branch growth or declines - Management is actively looking for new locations in Pasco County, emphasizing the importance of entering at the right price [33]

Financial Data and Key Metrics Changes - TrustCo Bank reported a net income of $15.6 million for Q4 2025, representing a 38% increase compared to Q4 2024, with a return on average assets of 0.97% and return on average equity of 8.99% [6][5] - The consolidated equity to assets ratio was 10.66% for Q4 2025, down from 10.84% in Q4 2024 [6] - Book value per share increased by 7.1% to $38.08 from $35.56 a year earlier [7] - Net interest income for Q4 2025 was $43.7 million, an increase of 12.4% compared to the prior year quarter [10] Business Line Data and Key Metrics Changes - Average loans grew by 2.5%, or $126.8 million, reaching $5.2 billion in Q4 2025 [8][13] - Home equity lines of credit increased by $54.1 million, or 13.5%, while residential real estate portfolio increased by $50.6 million, or 1.2% [8] - Average commercial loans increased by $24.5 million, or 8.6%, while installment loans decreased by $2.4 million, or 17.3% [8] Market Data and Key Metrics Changes - Total deposits reached $5.6 billion, up $166 million compared to the prior year quarter, indicating strong customer confidence [9] - The bank's net interest margin improved to 2.82%, up 22 basis points from the prior year quarter [10] Company Strategy and Development Direction - The company focuses on building solid customer relationships and maintaining low cost of funds through quality loan and deposit products [4] - TrustCo Bank continues to emphasize relationship banking and competitive product offerings to support ongoing loan growth and expansion [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the bank's long-term strength and commitment to returning value to shareholders through a disciplined share repurchase program [7] - The bank is well-positioned to continue delivering strong net interest income performance despite potential Federal Reserve rate changes [10] Other Important Information - Non-performing loans increased to $20.7 million in Q4 2025 from $18.8 million in Q4 2024, with non-performing loans to total loans at 0.39% [8][17] - Total non-interest expense was $26.5 million, down $1.5 million from the prior year quarter [11] Q&A Session Summary Question: Increase in New York commercial NPLs - Management indicated that the increase was due to two relationships in multi-family properties located in Schenectady and Albany [22][23] Question: Other expenses increase - Management explained that the increase was due to year-end benefit plans and a $500,000 funding to the TrustCo Foundation for tax benefits [27] Question: Guidance for 2026 expenses - Management provided guidance for total recurring non-interest expense in the range of $27.7-$28.2 million per quarter, indicating it is across the board without notable drivers [28][29] Question: Branch growth outlook - Management is actively looking for a location in Pasco County, Florida, but emphasized the importance of finding the right site [33]

Financial Performance - TrustCo reported a net income of $61.1 million for the year 2025, with a total shareholder return that was three times that of peers[1]. - Q4 2025 net income was $15.6 million, a 38.0% increase from $11.3 million in Q4 2024, with diluted earnings per share rising to $0.85 from $0.59[3]. - Net income for the year ended December 31, 2025, was $61,137, representing a 25.2% increase from $48,833 in 2024[14]. - Basic net income per common share increased to $3.26 in 2025 from $2.57 in 2024, a rise of 26.9%[19]. Interest Income and Margin - For Q4 2025, net interest income increased by 12.4% year-over-year to $43.7 million, driven by asset repricing and effective interest expense management[2]. - The net interest margin for Q4 2025 expanded to 2.82%, up 22 basis points from 2.60% in Q4 2024[3]. - Total interest income rose to $259,416,000 in 2025, compared to $243,316,000 in 2024, marking an increase of 6.6%[18]. - Net interest income after provision for credit losses was $167,373,000, up from $149,939,000, reflecting a growth of 11.6%[18]. Asset and Deposit Growth - Average loans increased by $126.8 million, or 2.5%, in Q4 2025 compared to the same period in 2024, reflecting strong borrower confidence[6]. - Average deposits rose by $208.0 million, or 3.9%, in Q4 2025, primarily due to increases in time deposits and interest-bearing accounts[6]. - Total assets reached $6,440,700,000 as of December 31, 2025, an increase from $6,238,744,000 in 2024, indicating a growth of 3.2%[20]. - Total deposits increased to $5,557,417,000 in 2025, compared to $5,490,314,000 in 2024, showing a growth of 1.2%[20]. Noninterest Income and Expenses - Noninterest income for Q4 2025 was $4,430, slightly up from $4,409 in Q4 2024[12]. - Total noninterest expenses for Q4 2025 decreased to $26,710 from $28,165 in Q4 2024, a reduction of 5.2%[12]. - Noninterest income decreased to $18,945,000 in 2025 from $19,834,000 in 2024, a decline of 4.5%[18]. - Total noninterest expenses slightly decreased to $105,504,000 in 2025 from $105,727,000 in 2024, a reduction of 0.2%[18]. Credit Quality and Provisions - The allowance for credit losses on loans was $52.2 million as of December 31, 2025, with a ratio of 0.99% to total loans, indicating stable asset quality[8]. - Nonperforming loans (NPLs) increased to $20.7 million, or 0.39% of total loans, as of December 31, 2025, reflecting a modest rise in credit risk[8]. - The provision for credit losses for the year ended December 31, 2025, was $1,600, down from $2,000 in 2024[14]. - The coverage ratio improved to 252.5% from 280.8% in the previous quarter, reflecting a decrease in the ability to cover nonperforming loans[23]. Shareholder Equity and Stock Performance - TrustCo repurchased 1 million shares, or 5.3%, of its common stock in 2025, with an additional 2 million shares authorized for repurchase in 2026[7]. - TrustCo's book value per share increased to $38.08 as of December 31, 2025, up 7.1% from $35.56 a year earlier[7]. - The market price per share at the end of Q4 2025 was $41.33, compared to $33.31 at the end of Q4 2024[12]. - Total shareholders' equity as of December 31, 2025, was $686,589,000, a slight decrease from $692,013,000 in 2024[21].

Core Insights - TrustCo Bank Corp NY reported strong financial results for Q4 2025, with a significant increase in net interest income and continued growth in loans and deposits [2][3][4] Financial Results - Net interest income for Q4 2025 was $43.7 million, a 12.4% increase year-over-year from $38.9 million in Q4 2024 [2][5] - Net interest margin expanded to 2.82% in Q4 2025, up from 2.60% in the same period last year, driven by higher asset yields and disciplined deposit pricing [2][5] - Net income for Q4 2025 was $15.6 million, or $0.85 diluted earnings per share, compared to $11.3 million or $0.59 diluted earnings per share in Q4 2024 [2][5] - For the full year 2025, net income reached $61.1 million, or $3.25 diluted earnings per share, up from $48.8 million or $2.57 diluted earnings per share in 2024 [2][5] Loan and Deposit Growth - Average loans increased by $126.8 million, or 2.5%, in Q4 2025 compared to Q4 2024, with residential loans up $50.6 million and Home Equity Credit Lines (HECLs) up $54.1 million [7] - Average deposits rose by $208.0 million, or 3.9%, in Q4 2025, primarily due to increases in time deposits and interest-bearing checking accounts [7] Capital Management - The company executed a stock repurchase program, buying back 1 million shares, or 5.3%, in 2025, and announced an additional program for 2026 to repurchase up to 2 million shares, or 11.1% [3][8] - Book value per share increased to $38.08 as of December 31, 2025, up from $35.56 a year earlier [5][8] Asset Quality - The provision for credit losses was $400 thousand in Q4 2025, unchanged from the same period in 2024, with nonperforming loans (NPLs) at $20.7 million, or 0.39% of total loans [9] - The allowance for credit losses on loans was $52.2 million as of December 31, 2025, compared to $50.2 million a year earlier, indicating stable asset quality [9]

Core Viewpoint - TrustCo Bank Corp NY will release its fourth quarter 2025 results on January 21, 2026, after market close, with a conference call scheduled for January 22, 2026, at 9:00 a.m. Eastern Time to discuss the results [1][2]. Company Overview - TrustCo Bank Corp NY is a $6.3 billion savings and loan holding company operating through its subsidiary, Trustco Bank, which has 134 offices across New York, New Jersey, Vermont, Massachusetts, and Florida [3]. - The common shares of TrustCo are traded on The NASDAQ Global Select Market under the symbol TRST [3]. - Trustco Bank's Wealth Management Department provides a comprehensive range of investment services, retirement planning, and trust and estate administration services [3]. Conference Call Details - Participants can join the conference call by dialing toll-free numbers: 1-833-470-1428 for the United States and 1-833-950-0062 for Canada, with access code 774913 [1]. - A replay of the call will be available for thirty days at 1-866-813-9403, access code 268454 [1]. - The call will also be available as an audio webcast for one year at the provided link [2]. Investor Relations - The earnings press release will be posted on the Company's Investor Relations website, which also contains the most recent annual report, proxy statement, and SEC filings [2].

Core Viewpoint - TrustCo Bank Corp NY has announced a new stock repurchase program allowing the repurchase of up to 2,000,000 shares, approximately 11% of its outstanding shares, aimed at increasing shareholder value [1][2]. Group 1: Stock Repurchase Program - The new stock repurchase program permits shares to be repurchased in open market or private transactions, including block trades, in accordance with SEC Rule 10b5-1 [1]. - The company recently completed a previous repurchase program of one million shares earlier in December 2025 [1]. - Repurchases will be made at management's discretion over the next twelve months, considering factors such as stock availability, market conditions, and TrustCo's financial performance [2]. Group 2: Company Background - TrustCo Bank Corp NY is a $6.3 billion savings and loan holding company operating 135 offices across New York, New Jersey, Vermont, Massachusetts, and Florida [4]. - The company has a tradition of over 100 years in providing high-quality services, including a variety of deposit and loan products, as well as investment services through its Wealth Management Department [4]. - TrustCo Bank is recognized as one of the best performing savings banks in the country [4].

Core Points - TrustCo Bank Corp NY declared a quarterly cash dividend of $0.38 per share, amounting to an annualized dividend of $1.52 per share, payable on January 2, 2026, to shareholders of record as of December 5, 2025 [1] - The company emphasizes its commitment to returning capital to shareholders, which is a fundamental aspect of its operations and aims to enhance shareholder value while maintaining strong relationships with customers [2] - TrustCo Bank Corp NY operates as a $6.3 billion savings and loan holding company with 136 offices across New York, New Jersey, Vermont, Massachusetts, and Florida, offering a range of financial services [3]