[Executive Summary & Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Highlights) This section provides a concise overview of TrustCo Bank Corp NY's strong Q2 2025 financial performance and key strategic achievements [Second Quarter 2025 Financial Performance](index=1&type=section&id=Second%20Quarter%202025%20Financial%20Performance) TrustCo Bank Corp NY reported strong Q2 2025 results, with net income up 19.8% to $15.0M, diluted EPS $0.79, and NIM expanded to 2.71% | Metric | Q2 2025 | Q2 2024 | Change (%) | | :----------------------- | :------ | :------ | :--------- | | Net Income | $15.0M | $12.6M | 19.8% | | Diluted EPS | $0.79 | $0.66 | 19.7% | | Net Interest Income | $41.7M | $37.8M | 10.5% | | Net Interest Margin | 2.71% | 2.53% | +18 bps | - Loan growth gained momentum, with total average loans increasing **$115.6 million or 2.3% year-over-year**, signaling increasing borrower confidence and supporting the Bank's strategic focus on high-quality relationship lending[2](index=2&type=chunk) [Key Metrics and Ratios](index=1&type=section&id=Key%20Metrics%20and%20Ratios) Capital strengthened: equity to assets 10.91%, book value per share $36.75, with 169K shares repurchased | Metric | As of June 30, 2025 | As of June 30, 2024 | Change | | :-------------------------------- | :------------------ | :------------------ | :----- | | Consolidated Equity to Assets | 10.91% | 10.73% | +0.18% | | Book Value Per Share | $36.75 | $34.46 | +$2.29 | | Assets Under Management | $1.19B | N/A | +8.2% | | Trustco Financial Services Income | $1.8M | N/A | +13.0% | - **169 thousand shares** of TrustCo common stock were purchased under the stock repurchase program during Q2 2025[3](index=3&type=chunk) [Management Commentary & Operational Review](index=2&type=section&id=Management%20Commentary%20%26%20Operational%20Review) This section details management's perspective on strategic execution and a review of key operational areas, including loan growth, net interest income, and asset quality [Chairman's Overview](index=2&type=section&id=Chairman's%20Overview) Chairman McCormick highlighted strategic agility, driving double-digit return growth, improved efficiency, and strong loan growth, avoiding risky multi-family loans - Return on average assets improved **17% year over year**, and return on average equity grew **12.5%**[4](index=4&type=chunk) - Net interest margin improved **7% year over year**, in tandem with a **12% year over year improvement** in adjusted efficiency ratio[4](index=4&type=chunk) - Home equity credit lines are up **18% year over year**, and commercial loans grew **11% year over year**[4](index=4&type=chunk) [Loan and Deposit Growth](index=2&type=section&id=Loan%20and%20Deposit%20Growth) Significant loan growth (2.3% YoY, $115.6M) and deposit growth (3.3% YoY, $173.4M) across key segments, reflecting economic confidence | Loan Category | Q2 2025 YoY Change (Value) | Q2 2025 YoY Change (%) | | :-------------------- | :------------------------- | :--------------------- | | Total Average Loans | +$115.6 million | +2.3% | | Average Residential Loans | +$27.9 million | +0.6% | | Average HECLs | +$64.7 million | +17.8% | | Average Commercial Loans | +$25.8 million | +9.2% | - Average deposits were up **$173.4 million, or 3.3%**, for the second quarter 2025 over the same period in 2024, primarily due to increases in time deposits, interest-bearing checking accounts, and demand deposits[5](index=5&type=chunk) [Shareholder Value and Capital Management](index=2&type=section&id=Shareholder%20Value%20and%20Capital%20Management) Shareholder value enhanced by 169K share repurchases, improving equity to asset ratio to 10.91% and book value per share to $36.75 - TrustCo purchased **169 thousand, or 0.9%**, of total shares outstanding of TrustCo common stock under the previously announced stock repurchase program during the second quarter of 2025[6](index=6&type=chunk) | Metric | As of June 30, 2025 | As of June 30, 2024 | Change (%) | | :------------------ | :------------------ | :------------------ | :--------- | | Equity to Asset Ratio | 10.91% | 10.73% | +0.18% | | Book Value Per Share | $36.75 | $34.46 | +6.6% | [Net Interest Income and Margin](index=3&type=section&id=Net%20Interest%20Income%20and%20Margin) Net interest income increased 10.5% to $41.7M, with net interest margin expanding 18 bps to 2.71%, driven by loan growth and controlled deposit costs | Metric | Q2 2025 | Q2 2024 | Change | | :-------------------------------- | :------ | :------ | :------- | | Net Interest Income | $41.7M | $37.7M | +10.5% | | Net Interest Margin | 2.71% | 2.53% | +18 bps | | Yield on Interest Earning Assets | 4.19% | 4.06% | +13 bps | | Cost of Interest Bearing Liabilities | 1.91% | 1.97% | -6 bps | - The increase in net interest income was driven by loan growth at higher interest rates, an increase in interest on federal funds sold and other short-term investments, and less interest expense on deposit products[7](index=7&type=chunk) [Non-Interest Income and Expense](index=3&type=section&id=Non-Interest%20Income%20and%20Expense) Non-interest income (excluding equity gains) rose to $4.9M, primarily from a 13.0% increase in wealth management fees, while non-interest expense saw a modest increase | Metric | Q2 2025 | Q2 2024 | Change | | :------------------------------------------ | :------ | :------ | :------- | | Non-interest Income (excl. equity gains) | $4.9M | $4.3M | +$0.6M | | Wealth Management & Financial Services Fees | $1.8M | N/A | +13.0% | - Wealth management and financial services fees represent **37.5% of non-interest income** for Q2 2025, with the majority being recurring income supported by long-term advisory relationships[8](index=8&type=chunk) - Non-interest expense increased **$236 thousand** over the second quarter of 2024[8](index=8&type=chunk) [Asset Quality](index=3&type=section&id=Asset%20Quality) Asset quality remained strong, with a $650K provision for credit losses, stable allowance ratio, and a decrease in nonperforming loans and assets | Metric | As of June 30, 2025 | As of June 30, 2024 | Change | | :------------------------------------ | :------------------ | :------------------ | :------- | | Provision for Credit Losses (Q2) | $650K | N/A | N/A | | Allowance for Credit Losses to Total Loans | 0.99% | 0.99% | 0 bps | | Nonperforming Loans (NPLs) | $17.9M | $19.2M | -$1.3M | | NPLs to Total Loans | 0.35% | 0.38% | -0.03% | | Nonperforming Assets (NPAs) | $19.0M | $21.5M | -$2.5M | | Coverage Ratio (Allowance to NPLs) | 286.2% | 259.4% | +26.8% | [Company Information](index=3&type=section&id=Company%20Information) This section provides essential details about TrustCo Bank Corp NY, including its operational scope, wealth management services, and investor communication channels [About TrustCo Bank Corp NY](index=4&type=section&id=About%20TrustCo%20Bank%20Corp%20NY) TrustCo Bank Corp NY is a $6.3 billion savings and loan holding company operating 136 offices across five states, offering comprehensive wealth management services - TrustCo Bank Corp NY is a **$6.3 billion** savings and loan holding company[11](index=11&type=chunk) - As of June 30, 2025, Trustco Bank operated **136 offices** in New York, New Jersey, Vermont, Massachusetts, and Florida[11](index=11&type=chunk) - The Bank's Wealth Management Department offers a full range of investment services, retirement planning and trust and estate administration services[11](index=11&type=chunk) [Conference Call Details](index=3&type=section&id=Conference%20Call%20Details) Details for the Q2 2025 earnings conference call, including dial-in information and webcast access, were provided for investor participation - A conference call to discuss second quarter 2025 results will be held at **9:00 a.m. Eastern Time on July 22, 2025**[10](index=10&type=chunk) - Dial-in details for the United States (**1-833-470-1428**) and Canada (**1-833-950-0062**), with Access code **258501**, were provided[10](index=10

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]

Financial Data and Key Metrics Changes - The company reported a net income of $14.3 million for the first quarter of 2025, an increase of 17.7% compared to the prior year quarter [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 the first quarter of 2025 was $40.4 million, an increase of $3.8 million or 10.4% compared to the prior year quarter [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 increased by $61 million or 17.3%, while residential real estate portfolio grew by $26.2 million [16][24] - Commercial loans increased by $20.7 million or 7.5% over the same period [16][24] - Non-performing loans remained flat at 0.37%, indicating strong asset quality [28] Market Data and Key Metrics Changes - Total deposits ended the quarter at $5.5 billion, up $142 million compared to the prior year quarter [17] - The company noted strong customer confidence in its competitive deposit offerings, particularly in time deposits [17] Company Strategy and Development Direction - The company is focused 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 Comments on Operating Environment and Future Outlook - Management expressed confidence in the local economy, particularly in the Capital District and Central Florida, which are described as stable and strong [35][36] - The company anticipates that a lower interest rate environment may provide opportunities to manage deposit costs more effectively [19] Other Important Information - The Wealth Management division had approximately $1.1 billion of assets under management, with non-interest income from this segment increasing by 16.7% [20] - Total non-interest expense was $26.3 million, up $1.4 million from the prior year quarter, primarily due to higher salary and employee benefits [22] Q&A Session Summary Question: Is the strong local economy referenced in the press release specific to the Capital region or all markets? - Management indicated that the Capital District has a stable economy with less volatility, and Central Florida remains strong as well [35][36] Question: What are the trends in residential home prices? - Management noted that home prices are stable but not increasing, with no significant drops expected [38] Question: What changed regarding the share repurchase plan compared to last year? - Management explained that the larger 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 the company contemplating? - Management did not specify a target capital ratio but indicated that there is room for additional repurchases while maintaining a strong capital position [42]

Financial Performance - TrustCo reported a net income of $14.3 million for Q1 2025, a 17.7% increase from $12.1 million in Q1 2024, translating to $0.75 diluted earnings per share compared to $0.64[3]. - Net income for Q1 2025 was $14,275,000, representing a 26.56% increase from $11,281,000 in Q4 2024 and a 17.79% increase from $12,126,000 in Q1 2024[15]. - Basic and diluted net income per share rose to $0.75 in Q1 2025, compared to $0.59 in Q4 2024 and $0.64 in Q1 2024, marking a 27.12% increase from the previous quarter[15]. - Noninterest income for Q1 2025 was $4,974,000, an increase of 12.83% from $4,409,000 in Q4 2024 and a slight increase from $4,843,000 in Q1 2024[15]. - Total noninterest expenses decreased to $26,329,000 in Q1 2025, down 6.53% from $28,165,000 in Q4 2024 and up 5.70% from $24,903,000 in Q1 2024[15]. - The efficiency ratio improved to 58.06% in Q1 2025, compared to 65.03% in Q4 2024 and 59.94% in Q1 2024[13]. - Return on average assets increased to 0.93% in Q1 2025, up from 0.73% in Q4 2024 and 0.80% in Q1 2024[13]. - Return on average equity improved to 8.49% in Q1 2025, compared to 6.70% in Q4 2024 and 7.54% in Q1 2024[13]. Asset and Liability Management - Total assets increased to $6,338,545 thousand as of March 31, 2025, up from $6,238,744 thousand at December 31, 2024, representing a growth of 1.6%[17]. - Total deposits rose to $5,496,670 thousand, compared to $5,390,983 thousand at the end of the last quarter, reflecting an increase of 2.0%[17]. - The company reported a total of 5,496,670 thousand in total liabilities, up from 5,390,983 thousand, reflecting an increase of 2.0%[17]. - Shareholders' equity increased to $687,808 thousand from $676,343 thousand, marking a growth of 1.9%[17]. - Cash and cash equivalents totaled $756,137 thousand, an increase from $641,812 thousand, reflecting a growth of 17.8%[17]. Loan and Credit Quality - Average loans increased by $104.7 million, or 2.1%, in Q1 2025 compared to Q1 2024, with residential loans up $26.2 million (0.6%) and HECLs up $61.0 million (17.3%)[5]. - Non-performing loans (NPLs) remained stable at 0.37% of total loans, with NPLs totaling $18.8 million as of March 31, 2025, compared to $18.3 million a year prior[9]. - The company recorded a provision for credit losses of $300 thousand in Q1 2025, with an allowance for credit losses on loans at $50.6 million, representing 0.99% of total loans[9]. - The allowance for credit losses on loans was $50,606 thousand, slightly up from $50,248 thousand in the previous quarter, showing a 0.7% increase[17]. - Total nonperforming assets increased to $20,867,000 as of March 31, 2025, compared to $20,975,000 at December 31, 2024, reflecting a decrease of 0.52%[19]. - Total non-accrual loans amounted to $18,760,000, showing a slight decrease from $18,800,000 in the previous quarter[19]. - The coverage ratio for credit losses was reported at 269.8%, reflecting strong capital reserves relative to potential losses[20]. Capital Management - TrustCo announced a stock repurchase program for up to one million shares, approximately 5% of its outstanding common stock, as part of its capital management strategy[6]. - The equity to asset ratio improved to 10.85% as of March 31, 2025, from 10.51% a year earlier, with book value per share rising to $36.16, a 6.0% increase[6]. - Tangible book value per share increased to $36.13 as of March 31, 2025, up from $35.53 at December 31, 2024, and $34.10 at March 31, 2024[28]. - Tangible equity (Non-GAAP) increased to $687,255,000 as of March 31, 2025, from $675,790,000 at December 31, 2024, and $648,637,000 at March 31, 2024[28]. Interest Income and Margin - Net interest income for Q1 2025 was $40.4 million, up 10.4% from $36.6 million in Q1 2024, with a net interest margin of 2.64%, an increase of 20 basis points year-over-year[7]. - Net interest income for Q1 2025 increased to $40,373,000, up 3.99% from $38,902,000 in Q4 2024 and up 10.00% from $36,578,000 in Q1 2024[28]. - The net interest margin improved to 2.64% for the three months ended March 31, 2025, compared to 2.44% for the same period in 2024[22]. - Total interest-earning assets reached $6,105,834,000, generating net interest income of $40,372,000[22]. - Commercial loans generated an interest income of $4,165,000, with an average interest rate of 5.59%[22]. Future Outlook - TrustCo anticipates continued positive performance based on Q1 results and its strategic focus on relationship banking and solid financial practices[4].

Executive Summary - TrustCo Bank Corp NY reported a strong start to 2025, with significant growth in loan and deposit portfolios compared to Q1 2024, resulting in a net income of $14.3 million or $0.75 diluted earnings per share, up from $12.1 million or $0.64 diluted earnings per share in the same period last year [2][3][5]. Financial Performance - Average loans increased by $104.7 million or 2.1% year-over-year, with residential loans up $26.2 million (0.6%) and home equity lines of credit (HECLs) up $61.0 million (17.3%) [4][5]. - Average deposits rose by $103.3 million or 1.9%, driven by increases in time deposits, interest-bearing checking accounts, and demand deposits [4][5]. - Net interest income for Q1 2025 was $40.4 million, a 10.4% increase from $36.6 million in Q1 2024, supported by loan growth at higher interest rates [5][8]. - Non-interest income increased to $5.0 million, primarily due to a 16.7% rise in wealth management and financial services fees [9]. Capital Position - The consolidated equity to assets ratio improved to 10.85% as of March 31, 2025, compared to 10.51% a year earlier [5][7]. - Book value per share increased to $36.16, up from $34.12 in the previous year [7][12]. - A stock repurchase program was announced, authorizing the buyback of up to one million shares, approximately 5% of the current outstanding common stock [7][12]. Asset Quality - Credit quality remained strong, with non-performing loans (NPLs) steady at 0.37% of total loans, and the allowance for credit losses on loans was $50.6 million [10][24]. - The coverage ratio for allowance for credit losses on loans to NPLs was 269.8% as of March 31, 2025, indicating strong asset quality management [10][24]. Market Position - TrustCo Bank operates 136 offices across New York, New Jersey, Vermont, Massachusetts, and Florida, with total assets of $6.3 billion as of March 31, 2025 [12][19]. - The bank's strategic focus on relationship banking and solid financial practices is expected to support continued success despite a complex economic environment [6].

Company Overview - TrustCo Bank Corp NY is a savings and loan holding company with a total asset value of $6.2 billion [3] - The company operates 136 offices across New York, New Jersey, Vermont, Massachusetts, and Florida through its subsidiary, Trustco Bank [3] - TrustCo's Wealth Management Department provides a comprehensive range of investment services, retirement planning, and trust and estate administration services [3] Upcoming Financial Results - TrustCo will release its first quarter 2025 results after the market close on April 21, 2025 [1] - A conference call to discuss the results is scheduled for 9:00 a.m. Eastern Time on April 22, 2025, with dial-in numbers provided for participants in the U.S. and Canada [1][2] - The earnings press release will be available on the company's Investor Relations website [2]