Welcome to our dedicated page for Trustco Bk N Y news (Ticker: TRST), a resource for investors and traders seeking the latest updates and insights on Trustco Bk N Y stock.
Trustco Bank Corp NY, established in 1902 in Schenectady, New York, has grown into a cornerstone of community banking. The bank has thrived by staying true to core banking principles, offering high-quality products and services without succumbing to fleeting industry trends. With a significant expansion beginning in 2002, Trustco now operates 147 branches across New York, Florida, Massachusetts, New Jersey, and Vermont, with 53 branches in Florida alone.
Trustco Bank is renowned for its old-school, personal service, greeting customers by name and providing a variety of deposit and loan products. The bank specializes in residential mortgage lending and has consistently paid dividends to its shareholders for over 100 years. As of December 31, 2021, the bank's assets totaled $6.2 billion.
The bank's core business revolves around accepting deposits and making loans and investments. It offers a comprehensive range of personal and business banking services, including savings accounts, retirement accounts, money market accounts, mortgages, building loans, and auto loans. Trustco operates as a community bank within its geographical footprint.
Trustco Bank's executive leadership, led by Chairman, President, and CEO Robert J. McCormick, emphasizes solid underwriting and responsible lending. The bank boasts seven consecutive quarters of net loan recoveries and continues to focus on liquidity management and capital preservation. Trustco's debt-free and well-capitalized status positions it to capitalize on future opportunities, regardless of market conditions.
Recent achievements include a 3% increase in residential loan production and a 13% growth in commercial loans compared to the first quarter of 2023. Non-interest income and capital ratios have improved, and the bank has maintained steady non-performing loans with consistent net recoveries, showcasing its commitment to excellent credit quality.
For the latest updates, visit the company's Investor Relations website.
TrustCo Bank Corp NY (TRST) reported a net income of $52.5 million for the full year 2020, with earnings per share at $0.543. For Q4 2020, net income was $13.8 million or $0.143 per share. Residential loans surged by 5.9% to a record $3.8 billion. The bank's community support included a $40,000 donation to housing agencies and 2,000 turkeys for food banks. As of December 31, 2020, only 0.04% of loans were in deferral. TrustCo continues to adapt to market conditions while prioritizing customer needs during the pandemic.
TrustCo Bank Corp NY (TRST) will release its fourth quarter 2020 results on January 21, 2021, after market close. A conference call is scheduled for January 22, 2021, at 9:00 a.m. ET for discussion of the results. The call can be accessed via telephone or an audio webcast. TrustCo operates 148 offices across five states and has a total asset value of $5.7 billion. Investors can review the earnings report on the company’s Investor Relations website. Forward-looking statements in the release caution investors regarding potential future risks.
TrustCo Bank Corp NY (TRST) has declared a quarterly cash dividend of $0.068125 per share, amounting to $0.2725 annually. This dividend will be payable on January 4, 2021, to shareholders of record as of December 4, 2020. The bank has a longstanding history of dividend payments since 1904. CEO Robert J. McCormick emphasized that the bank's performance and commitment to growth allowed for this dividend, reflecting a tradition of meeting shareholder expectations.
TrustCo Bank Corp NY (TRST) reported a net income of $14.1 million for Q3 2020, translating to $0.146 per diluted share. Year-to-date, net income reached $38.6 million or $0.400 per diluted share. The Bank highlighted significant investments in online banking and community support, including donations to schools. Loan portfolios grew by 6.5%, while average deposits increased by 9.9%. Despite the pandemic, nonperforming loans remained stable, and the coverage ratio for loan losses improved. A conference call will discuss these results on October 22, 2020.
TrustCo Bank Corp NY (TRST) will announce its third quarter 2020 results on October 21, 2020, after market close. A conference call to discuss these results is scheduled for October 22, 2020, at 9:00 a.m. ET. Participants can join via a toll-free number or listen to an audio webcast available for a year. TrustCo, which operates with 148 offices across five states, is valued at $5.7 billion. Regulatory compliance and economic conditions remain potential challenges for the company, as highlighted in their forward-looking statements.
TrustCo Bank Corp NY, trading under the symbol TRST, appointed two new members to its Board of Directors effective August 18, 2020. Kimberly Adams Russell, President and COO of Frank Adams Jewelers, will serve on multiple committees including Audit and Risk. Frank B. Silverman, managing member of Vision Development and Management, brings expertise in real estate development and will enhance the Board’s geographical diversity. The company manages $5.7 billion in assets and operates 148 offices across several states.
The Board of Directors of TrustCo Bank Corp NY (NASDAQ: TRST) has declared a quarterly cash dividend of $0.068125 per share, amounting to $0.2725 annually. This dividend is scheduled for payment on October 1, 2020, to shareholders recorded by September 4, 2020. TrustCo has consistently paid dividends since 1904 and aims to maintain this tradition amidst economic uncertainties, highlighting strong performance and growth strategies.
TrustCo Bank Corp NY (NASDAQ: TRST) reported a net income of $11.3 million or $0.117 diluted earnings per share for Q2 2020, and $24.6 million or $0.254 for the first half of the year. The bank supported communities during COVID-19 with a designated COVID-19 Fund and financial relief programs. Average loans increased by 7.0% year-over-year, while average deposits grew by 6.2%. The bank maintained a strong liquidity position and continued hiring. A conference call will be held on July 22, 2020, to discuss results.
TrustCo Bank Corp NY (TRST) will announce its second quarter 2020 results after market close on July 21, 2020. A conference call to discuss these results will take place on July 22, 2020, at 9:00 a.m. Eastern Time. Participants can join by dialing the provided toll-free numbers. The earnings release will be available on the company's Investor Relations website. TrustCo operates 148 offices across multiple states and is a $5.3 billion savings and loan holding company. Key forward-looking statements caution against reliance on projected performance and highlight risks associated with economic conditions.
TrustCo Bank Corp NY (TRST) has declared a quarterly cash dividend of $0.068125 per share, amounting to $0.2725 annually. This dividend is set for payment on July 1, 2020, to shareholders recorded by June 5, 2020. TrustCo has a longstanding history of dividend payments, continuing this tradition since 1904. Robert J. McCormick, the CEO, emphasized that the bank's stable performance and management efforts have facilitated this dividend even amidst challenging economic conditions.
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