GLENVILLE, N.Y., Aug. 19, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on August 19, 2025 declared an increased quarterly cash dividend of $0.38 per share, or $1.52 per share on an annualized basis. The declared dividend represents an increase of 5.6% over the prior dividend amount. The dividend will be payable on October 1, 2025 to shareholders of record at the close of business on September 5, 2025. Chairman, President, and Chief Executive Officer Robert ...

Core Insights - Pathfinder Bancorp reported a significant decline in net income for the second quarter of 2025, with net income attributable to common shareholders at $31,000, down from $3.0 million in the previous quarter and $2.0 million in the same quarter last year [2][21] - The company undertook proactive measures to mitigate credit risk, including the sale of $9.3 million in nonperforming and classified loans, which resulted in a pre-tax loss of $3.1 million [7][11] - Nonperforming loans decreased to $11.7 million, representing 1.28% of total loans, showing improvement from 1.45% in the previous quarter and 2.76% a year ago [27][30] Financial Performance - Net interest income for the second quarter of 2025 was $10.8 million, a decrease of 5.2% from the first quarter, but an increase of 14.1% from the second quarter of 2024 [5][9] - The net interest margin (NIM) was 3.11%, down from 3.31% in the first quarter of 2025, but up from 2.78% in the second quarter of 2024 [8][10] - Total deposits were $1.22 billion, a decrease from $1.26 billion in the previous quarter, but an increase of 11.0% from the same period last year [24][32] Asset Quality - The company recorded net charge-offs of $2.6 million, with a provision for credit loss expense of $1.2 million in the second quarter of 2025 [28][29] - The Allowance for Credit Losses (ACL) was $16.0 million, representing 1.76% of total loans, down from 1.91% in the previous quarter [30] - The efficiency ratio improved to 65.66%, compared to 67.19% in the linked quarter and 74.36% in the year-ago period, indicating better management of non-interest expenses [20] Liquidity and Capital - The company maintained a strong liquidity profile with total assets of $1.51 billion as of June 30, 2025, compared to $1.50 billion in the previous quarter [22] - Core deposits increased to 78.47% of total deposits, up from 78.31% in the previous quarter and 67.98% a year ago, reflecting a focus on low-cost funding [32] - Shareholders' equity totaled $124.4 million, a slight decrease from the previous quarter but an increase from the same period last year [25] Dividend Declaration - The Board of Directors declared a cash dividend of $0.10 per share, scheduled for disbursement on August 8, 2025, with an annualized dividend yield of 2.61% based on the closing stock price of $15.34 as of June 30, 2025 [35][36]

Financial Performance - For the quarter ended June 2025, SmarFinancial (SMBK) reported revenue of $49.24 million, up 21.8% year-over-year [1] - EPS for the quarter was $0.69, compared to $0.46 in the same quarter last year [1] - The reported revenue exceeded the Zacks Consensus Estimate of $48.71 million by +1.09% [1] - EPS also surpassed the consensus estimate of $0.66 by +4.55% [1] Key Metrics - Efficiency Ratio was 66.1%, better than the three-analyst average estimate of 67% [4] - Net Interest Margin was reported at 3.3%, matching the average estimate [4] - Net charge-offs to average loans were 0%, compared to the two-analyst average estimate of 0.1% [4] - Average Balance of Total interest earning assets was $4.96 billion, in line with estimates [4] - Total noninterest income was $8.9 million, exceeding the average estimate of $8.61 million [4] - Interchange and debit card transaction fees were $1.34 million, slightly above the average estimate of $1.32 million [4] - Service charges on deposit accounts were $1.77 million, slightly below the average estimate of $1.79 million [4] - Other noninterest income was $2.17 million, significantly above the two-analyst average estimate of $1.85 million [4] - Investment services revenue was $1.44 million, below the average estimate of $1.55 million [4] - Insurance commissions were $1.55 million, exceeding the average estimate of $1.33 million [4] - Net interest income (FTE) was $40.69 million, above the two-analyst average estimate of $40.19 million [4] Stock Performance - Shares of SmarFinancial have returned +14.7% over the past month, outperforming the Zacks S&P 500 composite's +5.4% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [3]

Core Viewpoint - The Bank of New York Mellon Corporation (BK) reported strong second-quarter 2025 adjusted earnings of $1.94 per share, exceeding expectations and reflecting a 28% year-over-year increase [1][8]. Financial Performance - Adjusted earnings surpassed the Zacks Consensus Estimate of $1.74, with net income applicable to common shareholders (GAAP basis) reaching $1.39 billion, a 22% increase from the previous year [3][8]. - Total revenues increased by 9% year over year to $5.03 billion, marking the first time quarterly revenues exceeded $5 billion, and surpassing the Zacks Consensus Estimate of $4.86 billion [4][8]. - Net interest income (NII) rose 17% year over year to $1.20 billion, driven by reinvestment of maturing investment securities at higher yields [4][8]. - Total fees and other revenues increased by 7% year over year to $3.83 billion, supported by higher investment services fees and foreign exchange revenues [5][8]. Expense Analysis - Total non-interest expenses (GAAP basis) were $3.21 billion, up 4% from the prior-year quarter, influenced by increases in nearly all cost components [6][8]. Asset Management - As of June 30, 2025, assets under management (AUM) were $2.11 trillion, a 3% increase year over year, while assets under custody and/or administration (AUC/A) rose 13% to $55.8 trillion [7][8]. Credit Quality - The allowance for loan losses as a percentage of total loans decreased to 0.38%, and non-performing assets fell to $161 million from $227 million in the prior year [8][9]. Capital Position - The common equity Tier 1 ratio improved to 11.5% from 11.4% year over year, and the Tier 1 leverage ratio increased to 6.1% from 5.8% [10][12]. Share Repurchase - In the reported quarter, the company repurchased shares worth $895 million [11]. Future Outlook - The company is expected to benefit from relatively higher interest rates, global expansion efforts, and a strong balance sheet, although there are concerns regarding concentration risk due to dependence on fee-based revenues and elevated expenses [12].

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 - Danske Bank reported a net profit of DKK 5.8 billion for Q1 2025, a 2% increase from DKK 5.6 billion in Q1 2024, driven by strong customer activity and credit quality [3][9] - The return on shareholders' equity rose to 13.3% in Q1 2025, up from 12.9% in Q1 2024, while the cost/income ratio improved slightly from 45.4% to 45.2% [2][9] - Total income for Q1 2025 was DKK 13.9 billion, compared to DKK 14.0 billion in Q1 2024, with operating expenses remaining stable at DKK 6.3 billion [9] Business Segments - The Personal Customers segment saw a profit before tax decrease of 18% to DKK 2.25 billion, primarily due to higher loan impairment charges and the divestment of the personal customer business in Norway [13] - The Business Customers segment experienced a profit before tax increase of 64% to DKK 2.83 billion, supported by loan impairment reversals and increased net fee income [14] - The Large Corporates & Institutions segment reported a profit before tax of DKK 2.4 billion, a 12% decrease from the previous year, attributed to higher loan impairment charges [15] Market Conditions - The Nordic economies demonstrated resilience amid global uncertainty, with promising growth and inflation outlooks, and robust employment [10] - Despite challenges such as US tariffs and potential recession risks, the foundation for decent economic outlook remains, supported by lower interest rates and increasing real incomes [12] Strategic Initiatives - Danske Bank continues to invest in technology and customer offerings as part of its Forward '28 strategy, aiming to enhance its position as a strong financial partner [2][6] - The bank published its Climate Action Plan Progress Report 2024, reaffirming its commitment to sustainability [6] Outlook - The company maintains its guidance for 2025, expecting net profit to be in the range of DKK 21-23 billion, subject to economic conditions [19]