Executive Summary - TrustCo Bank Corp NY reported a fourth quarter 2024 net income of $11.3 million, an increase from $9.8 million in the same quarter of 2023, with diluted earnings per share rising to $0.59 from $0.52 [2][6] - For the full year 2024, net income was $48.8 million, down from $58.6 million in 2023, with diluted earnings per share decreasing to $2.57 from $3.08 [2][6] - Average loans increased by $104.9 million or 2.1% year-over-year in Q4 2024, driven by a significant rise in home equity lines of credit [2][4] Financial Performance - Net interest income for Q4 2024 was $38.9 million, a slight increase of $295 thousand or 0.8% compared to Q4 2023 [5][6] - The net interest margin decreased to 2.15%, down from 2.21% in Q4 2023, while the yield on interest-earning assets increased to 4.12% [5][6] - Average deposits rose by $31.7 million or 0.6% in Q4 2024, primarily due to an increase in time deposits [4][6] Asset Quality - The company recorded a provision for credit losses of $400 thousand in Q4 2024, with the allowance for credit losses on loans to total loans ratio at 0.99% [7][6] - Nonperforming loans (NPLs) were $18.8 million, representing 0.37% of total loans, compared to $17.7 million or 0.35% in the previous year [7][6] - The coverage ratio for allowance for credit losses on loans to NPLs was 267.3% as of December 31, 2024 [7][6] Capital Position - The consolidated equity to assets ratio increased to 10.84% as of December 31, 2024, up from 10.46% a year earlier [8][6] - Book value per share rose to $35.56, a 4.8% increase from $33.92 at the end of 2023 [8][6] - The company maintained a strong capital position while controlling costs and delivering returns to shareholders through dividends and price appreciation [3][6] Operational Highlights - TrustCo Bank operated 136 offices across New York, New Jersey, Vermont, Massachusetts, and Florida as of December 31, 2024 [10] - The company focused on leveraging customer relationships to increase lending volume, particularly in home equity loans [3][6] - Noninterest expenses decreased by $666 thousand compared to Q4 2023, reflecting a decline in full-time equivalent employees [5][6]

Core Viewpoint - TrustCo Bank Corp NY will release its fourth quarter 2024 results on January 21, 2025, with a conference call scheduled for January 22, 2025, to discuss the results [1][2]. Company Overview - TrustCo Bank Corp NY is a $6.1 billion savings and loan holding company operating 136 offices across New York, New Jersey, Vermont, Massachusetts, and Florida through its subsidiary, Trustco Bank [3]. - The common shares of TrustCo are traded on The NASDAQ Global Select Market under the symbol TRST [3]. - The Bank's Wealth Management Department provides a comprehensive range of investment services, retirement planning, and trust and estate administration services [3]. Conference Call Details - The conference call to discuss the fourth quarter results will take place at 9:00 a.m. Eastern Time on January 22, 2025, with toll-free dial-in numbers provided for participants in the United States and Canada [1]. - An audio webcast of the call will be available for one year, and the earnings press release will be posted on the Company's Investor Relations website [2].

Core Points - TrustCo Bank Corp NY will release its fourth quarter 2024 results after market close on January 21, 2025 [1] - A conference call to discuss the results is scheduled for January 22, 2025, at 9:00 a.m. Eastern Time [1] - TrustCo Bank Corp NY operates as a $6.1 billion savings and loan holding company with 136 offices across five states [3] Company Information - TrustCo Bank operates through its subsidiary, Trustco Bank, providing a full range of investment services, retirement planning, and trust and estate administration services [3] - The common shares of TrustCo are traded on NASDAQ under the symbol TRST [3] - The earnings press release will be available on the Company's Investor Relations website [2]

GLENVILLE, N.Y., Nov. 19, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on November 19, 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 January 2, 2025 to shareholders of record at the close of business on December 6, 2024. Chairman, President, and Chief Executive Officer Robert J. McCormick said: “TrustCo’s owners know that the company reliably has delivered a solid retu ...

Executive Snapshot: Average Loan portfolio continues to grow: On average, total loans were up $127.0 million or 2.6% for the third quarter 2024 compared to the third quarter 2023 Continued solid financial results: Key metrics for third quarter 2024: Net income of $12.9 million versus $12.6 million for the second quarter 2024 Net interest income of $38.7 million, up from $37.8 million compared to the second quarter of 2024 Return on average equity (ROAE) of 7.74% versus 7.76% for the second quarter 2024 Capi ...

GLENVILLE, N.Y., Oct. 10, 2024 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it will release third quarter 2024 results after the market close on October 21, 2024. Results are released on the 21st of the reporting months (January, April, July and October), or on the next day that equity markets are open if the 21st falls on a Friday, weekend or holiday. A conference call to discuss the results will be held at 9:00 a.m. Eastern Time on October 22, 2024. Those wishing t ...

GLENVILLE, N.Y., Aug. 20, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on August 20, 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 October 1, 2024 to shareholders of record at the close of business on September 6, 2024. Chairman, President, and Chief Executive Officer Robert J. McCormick said: "While investors and marketwatchers are speculating about what will happen w ...

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 ...