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TrustCo Reports Q2 Book Value Per Share of $38.53
Reports Q2 book value per share $38.53. Chairman, president, and CEO, Robert McCormick, said "We are very pleased to report another quarter of stellar results. As expected, we have seen favorable repricing in our loan portfolio that has contributed to improving net interest margin. We also have seen steady growth in loans and deposits - each of which is up 3.8% year over year. This kind of symmetry in loan and deposit growth represents the ongoing realization of one of our long-time business goals. We take the deposits that we gather and lend those funds right back out into the communities that we serve. We also are realizing success on our long-term capital allocation strategy which has seen the company repurchase two million shares over the past year and a half, and we are on pace to purchase another million shares by the end of this year, which would bring the total for 2025-2026 to nearly 16% of TrustCo's outstanding shares. We also are pleased to announce that we have moved into the building that we repurposed into our regional corporate headquarters in historic Longwood, Florida, which speaks volumes about our commitment to that great state."
Trustco Bank Reports Q4 Tangible Book Value of $38.05
Reports Q4 tangible book value per share $38.05. Chairman, president, and CEO, Robert McCormick said, "The results announced today are absolutely stellar. Our team performed extraordinarily well on all levels. We have long-served Trustco Bank customers in a manner that has generated trust and earned loyalty. With this foundation, our retail area has been able to control cost of funds, which, in turn, expanded margin. The lenders finished strong, with the best quarterly loan growth of the year. The management team successfully executed a million-share buyback and then immediately sought and received regulatory approval for a further two-million share buyback, which we then fully funded. Thus, between what we have done, and what we are likely to do, we will have re-purchased more than 16% of the outstanding shares of our stock over the two-year period - and may not be done. Perhaps even more significantly, we grew total shareholder return 29% over the year, outpacing a major regional bank index and our proxy peers by a factor of more than three times. With our capital position still strong, and our credit quality remaining exceptional, I look forward to seeing our team deliver even greater value to our shareholders in 2026 and beyond."
Trustco Bank raises quarterly dividend by 5.6% to 38 cents per share
The board of directors of TrustCo Bank declared an increased quarterly cash dividend of 38c per share. The declared dividend represents an increase of 5.6% over the prior dividend amount. The dividend will be payable on October 1 to shareholders of record at the close of business on September 5.
Trustco Bank reports Q2 EPS 79c vs. 66c last year
Reports Q2 book value per share $36.75. Chairman, president, and CEO, Robert McCormick said, "Part of our long-term strategy is having the right mix of products available so that we can sell the right thing, to the right customer, at the right time. It is our ability to do this with agility and skill that has produced the standout results announced today. We saw double digit growth in our return metrics year over year, as return on average assets improved 17%, and return on average equity grew 12.5%. Our margin improved 7% year over year, in tandem with a 12% year over year improvement in adjusted efficiency ratio. Our ability to sell home equity products at a time of high market demand for the flexibility they offer has been key to this success. Home equity credit lines are up 18% year over year. Likewise, we strategically grew commercial loans 11% year over year - which we have done without exposure to risky multi-family loans or other industry-specific concentrations. We lowered non-performing loans to total loans by 7% year over year, and booked a second consecutive quarter of net recoveries. These exceptional results in the first half of 2025 provide a foundation for positive momentum moving into 2026."
Trustco Bank reports Q1 EPS 75c vs. 64c last year
Reports Q1 book value per share $36.16. Reports Q1 CET1 capital ratio 10.84%. Chairman, president, and CEO, Robert McCormick said "We are very pleased to announce today that tried and true Trustco Bank strategy has once again yielded exceptional results. We added loans at current market rates, which repriced our current loan portfolio higher, supporting long-term profitability. This was funded entirely by our own deposits, and we did so while holding the line on board rates. Despite aggressive market competition, we have favorably repriced our time deposits with the help of strong brand loyalty and digital engagement. These efforts yielded net income of $14.3 million and boosted all return metrics significantly year-over-year. Credit quality remains exceptional, with non-performing loans holding steady at a negligible 0.37%. The Bank also grew capital and thus maintains its position of strength. Based upon what we have seen in the first quarter, we anticipate that good things are likely in the future."
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