TrustCo Bank Corp NY (NASDAQ:TRST) Q3 2019 Earnings Conference Call October 22, 2019 9:00 AM ET Company Participants Robert J. McCormick - Chairman, President and CEO Michael M. Ozimek - EVP and CFO Scot R. Salvador - EVP and Chief Lending Officer Conference Call Participants Alex Twerdahl - Sandler O'Neill Operator Good morning and welcome to the TrustCo Bank Corp Third Quarter 2019 Earnings Call and Webcast. All participants will be in listen-only mode. [Operator Instructions]. After today's presentation ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to _________ Commission File Number 000-10592 TRUSTCO BANK CORP N Y (Exact name of registrant as specified in its charter) New York 14-1630287 Securities regis ...

TrustCo Bank Corp NY (NASDAQ:TRST) Q2 2019 Earnings Conference Call July 23, 2019 9:00 AM ET Company Participants Robert McCormick - Chairman, President and CEO Mike Ozimek - EVP and CFO Scot Salvador - EVP and Chief Lending Officer Conference Call Participants Alex Twerdahl - Sandler O'Neill Operator Good day and welcome to the TrustCo Bank Corp Second Quarter 2019 Earnings Call and Webcast. All participants will be in listen-only mode. [Operator Instructions] After today's presentation there will be an op ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Registrant's telephone number, including area code: (518) 377‑3311 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and ( ...

Financial Data and Key Metrics Changes - The company reported net income of $14.6 million for Q1 2019, which is essentially flat compared to Q1 2018, resulting in a return on assets of 1.17% and return on equity of 11.93% [4][8] - The efficiency ratio for the quarter was 66.1%, an increase from 55.06% in the previous quarter, primarily due to new hires [28] - The net interest margin decreased to 3.24% from 3.29% year-over-year, attributed to increased funding costs [20] Business Line Data and Key Metrics Changes - Average loans grew by 6% year-over-year, reaching $3.9 billion, with significant growth in the residential real estate portfolio, which increased by 7.2% [9][10] - Non-interest income was reported at $4.6 million, slightly up from the previous quarter, with the Financial Services division being the main contributor [24] Market Data and Key Metrics Changes - Total average deposits increased by $156.6 million or 3.8% year-over-year, driven by a 25.2% increase in average signed deposits [15][16] - The cost of interest-bearing deposits rose to 76 basis points from 41 basis points, while the average cost of time deposits increased to 1.79% from 1.07% year-over-year [16][18] Company Strategy and Development Direction - The company continues to focus on traditional lending and conservative balance sheet management, aiming for consistent high-quality recurring earnings [12] - The strategy of offering competitive shorter-term rates has allowed the company to gain market share and retain existing time deposits [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in loan growth for the upcoming quarters, citing increased application volume and a solid backlog [45][47] - The company expects margins to stabilize in the latter part of 2019 as shorter-term deposits reprice [19] Other Important Information - The company adopted a new lease accounting standard, resulting in additional net lease assets and liabilities of approximately $51.6 million and $56.7 million, respectively, without materially impacting consolidated net earnings [29][30] - The capital ratios improved, with the consolidated equity to assets ratio at 9.73%, up from 9.36% year-over-year [32] Q&A Session Summary Question: Confidence in Loan Growth - Management indicated that seasonal demand and increased application volume give them confidence in loan growth, positioning themselves for a more aggressive approach moving forward [45] Question: Margin Stability - The expectation for margin stability is due to the backlog building and the strategy of keeping deposits short-term to allow for repricing opportunities later in the year [46][47] Question: Expense Guidance - The increase in expense guidance is attributed to inflation, cybersecurity, and technology expenses, with management maintaining a focus on efficiency [51][53]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended December 31, 2018 Or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ____________________ to ____________________ Commission file number 0-10592 TRUSTCO BANK CORP NY (Exact name of registrant as specified in its charter) NEW YORK 14-1630287 (S ...

Financial Data and Key Metrics Changes - The company achieved a record high net income of $61.4 million in 2018, up over 42% from 2017, driven by strong performance and benefits from the Jobs and Tax Act [5] - Net income for Q4 2018 increased to $16 million, up 118% compared to $7.4 million for Q4 2017, with a return on average assets and average equity of 1.30% and 13.18% respectively [10] - The effective tax rate decreased to 18.9% in Q4 2018 from 62.6% in the same period a year ago, aided by a tax planning strategy [12] Business Line Data and Key Metrics Changes - The loan portfolio reached an all-time high of almost $3.9 billion, primarily driven by growth in the residential mortgage portfolio, which increased by $256 million or 8.2% in Q4 2018 compared to the same period in 2017 [6][13] - Non-interest income for Q4 2018 was $4.5 million, consistent with the previous quarter, with the Financial Services division being the most significant source of non-interest income [26] Market Data and Key Metrics Changes - Total average deposits increased by $77.1 million or 1.86% for Q4 2018 compared to the same period a year earlier, with the cost of interest-bearing deposits rising to 60 basis points from 36 basis points [19][20] - The net interest margin increased to 3.38% from 3.29% compared to Q4 2017, reflecting growth in the loan portfolio and Fed rate hikes [22] Company Strategy and Development Direction - The company continues to focus on traditional lending and conservative balance sheet management, which has enabled consistent high-quality recurring earnings [15] - The management is exploring various initiatives regarding capital management, including potential dividend increases and share buybacks [43] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2019, acknowledging that not every year can be record-breaking but remaining positive about future performance [8] - The company expects cash flow from the loan portfolio to generate between $375 million and $475 million over the next 12 months, providing significant opportunity and flexibility moving into 2019 [18] Other Important Information - The efficiency ratio for Q4 2018 was 55.06%, compared to 53.13% in Q4 2017, with a focus on identifying opportunities for process efficiency [30] - The consolidated tangible equity to tangible assets ratio improved to 9.87% at the end of Q4 2018, up from 9.33% in the same period in 2017 [31] Q&A Session Summary Question: Capital management and focus for 2019 - The management indicated that all options regarding capital management, including dividend increases and buybacks, are on the table for 2019 [43] Question: Strategy for deposits and liquidity management - The management described a mixed strategy for deposits, focusing on short maturities for CDs and capitalizing on customer opportunities in the Florida market [46][47] Question: Margin expansion and cash position management - The management confirmed that the reduction in cash position was part of a long-term execution plan, and they are comfortable with the current level, with potential for growth if opportunities arise [50]