TrustCo Bank Corp NY (NASDAQ:TRST) Q2 2024 Earnings Conference Call July 23, 2024 9:00 AM ET Company Participants Robert McCormick - Chairman, President & CEO Michael Ozimek - CFO Kevin Curley - EVP & Chief Banking Officer Conference Call Participants Ian Lapey - Gabelli Funds Operator Good day, and welcome to the TrustCo Bank Corp Earnings Call Webcast. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation there will be an opportunity to ask questions. [Operator I ...

Exhibit 99(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 FOR IMMEDIATE RELEASE: TRUSTCO DELIVERS ONCE AGAIN WITH SECOND QUARTER RESULTS NET INTEREST MARGIN UP 3.7% ON LOAN GROWTH OF 3.8% Executive Snapshot: • Continued solid financial results: o Consolidated equity to assets increased 4.9% to 10.73% as of June 30, 2024 from 10.23% as of June 30, 2023 Page ...

Superior asset quality: TrustCo Bank Corp NY (TrustCo, NASDAQ: TRST) today announced second quarter 2024 net income of $12.6 million or $0.66 diluted earnings per share, compared to net income of $16.4 million or $0.86 diluted earnings per share for the second quarter 2023; and net income of $24.7 million or $1.30 diluted earnings per share for the six months ended June 30, 2024, compared to net income of $34.1 million or $1.79 diluted earnings per share for the six months ended June 30, 2023. Average loan ...

Executive Summary - TrustCo Bank Corp NY reported a net income of $12.6 million for the second quarter of 2024, an increase from $12.1 million in the first quarter of 2024, but a decrease from $16.4 million in the second quarter of 2023 [2][4] - Average loans increased by $182.2 million or 3.8% compared to the same period in 2023, with significant growth in residential and commercial loans [5][6] - The bank's net interest income rose to $37.8 million, up from $36.6 million in the previous quarter, driven by loan growth at higher interest rates [6][14] Financial Performance - Net income for the second quarter of 2024 was $12.6 million, or $0.66 diluted earnings per share, compared to $16.4 million, or $0.86 diluted earnings per share for the same quarter in 2023 [2][14] - Net interest income for the second quarter of 2024 was $37.8 million, a 3.3% increase from the previous quarter [6][14] - Return on average assets (ROAA) improved to 0.82% from 0.80% in the first quarter of 2024, while return on average equity (ROAE) increased to 7.76% from 7.54% [2][14] Asset Quality - Nonperforming loans (NPLs) decreased to $19.2 million as of June 30, 2024, down from $19.4 million a year earlier, with NPLs to total loans at 0.38% compared to 0.40% [2][7] - The allowance for credit losses on loans was $49.8 million, representing 0.99% of total loans, up from 0.96% a year earlier [7][15] - Nonperforming assets (NPAs) to total assets was 0.35%, slightly up from 0.34% in the previous year [2][15] Capital Position - Consolidated equity to assets ratio increased to 10.73% as of June 30, 2024, from 10.23% a year earlier [2][8] - Book value per share rose to $34.46, up 5.5% from $32.66 a year earlier [8][14] - Average deposits increased by $77.4 million or 1.5% compared to the same period in 2023, reflecting customer preference for the bank's conservative banking approach [5][6] Strategic Insights - The bank's growth in loans and deposits is attributed to competitive pricing and exceptional customer service, with a focus on maintaining net interest margins despite upward pressure on deposit rates [4][6] - The strategic decision to retain Visa Class C shares resulted in a gain of $1.4 million, showcasing the bank's effective asset management [3][4]

GLENVILLE, N.Y., July 16, 2024 (GLOBE NEWSWIRE) -- Robert J. McCormick, Chairman, President, and Chief Executive Officer of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) and Trustco Bank, a subsidiary of TrustCo, announced the appointment of Executive Vice President Robert M. Leonard as Chief Operating Officer of TrustCo and Trustco Bank. Executive Vice President Kevin M. Curley has been named Chief Banking Officer. The following changes also have been made: Mr. McCormick also announced that Michael Hall, th ...

The common shares of TrustCo are traded on The NASDAQ Global Select Market under the symbol TRST. | --- | --- | |--------------------------|--------------------------| | | | | Subsidiary: Trustco Bank | | | Contact: Robert Leonard | Executive Vice President | GLENVILLE, N.Y., July 10, 2024 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it will release second quarter 2024 results after the market close on July 22, 2024. Results are released on the 21st of the reporting ...

The call will also be audio webcast at https://events.q4inc.com/attendee/723112639, and will be available for one year. 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. Forward-Looking Statements In addition, the B ...

GLENVILLE, N.Y., May 21, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY ((TrustCo, NASDAQ:TRST) on May 21, 2024, declared a quarterly cash dividend of $0.36 per share, or $1.44 per share on an annualized basis. The dividend will be payable on July 1, 2024 to shareholders of record at the close of business on June 7, 2024. Chairman, President, and Chief Executive Officer Robert J. McCormick said: "In uncertain times, reliability is a virtue. TrustCo shareholders know that the Company ...

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 March 31, 2024 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 NY (Exact name of registrant as specified in its charter) NEW YORK 14-1630287 (State or other ...

TrustCo Bank Corp NY (NASDAQ:TRST) Q1 2024 Earnings Conference Call April 23, 2024 9:00 AM ET Company Participants Robert McCormick - Chairman, President & CEO Michael Ozimek - CFO Scot Salvador - EVP Commercial Banking Conference Call Participants Alexander Twerdahl - Piper Sandler Operator Good day, and welcome to the TrustCo Bank Corp Earnings Call and Webcast. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. ...