TrustCo Reports 2025 Net Income of $61.1 Million for the Year; Posts Total Shareholder Return Three Times That Of Peers

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]