Quarterly ResultMay 8, 2026, 03:31 PM
TrustCo Bank Q1 Net Income $16.29M, EPS $0.91; Net Interest Income Up 10.7%
AI Summary
TrustCo Bank Corp NY reported a strong first quarter for 2026, with net income increasing to $16.29 million and basic earnings per share rising to $0.91. Net interest income also saw a significant increase of 10.7% year-over-year. However, the company experienced a substantial increase in its provision for credit losses and a decrease in comprehensive income due to unrealized losses on available-for-sale securities. Total assets and deposits grew compared to the end of 2025.
Key Highlights
- Net income for Q1 2026 increased 14.1% to $16.29 million from $14.28 million in Q1 2025.
- Basic EPS for Q1 2026 rose 21.3% to $0.91 from $0.75 in Q1 2025.
- Net interest income grew 10.7% to $44.71 million in Q1 2026 from $40.37 million in Q1 2025.
- Provision for credit losses increased significantly to $0.95 million in Q1 2026 from $0.30 million in Q1 2025.
- Total assets increased to $6.51 billion as of March 31, 2026, from $6.44 billion at December 31, 2025.
- Total deposits grew to $5.65 billion as of March 31, 2026, from $5.56 billion at December 31, 2025.
- Cash dividend declared was $0.38 per share for Q1 2026, up from $0.36 per share in Q1 2025.
- Purchases of treasury stock amounted to $23.91 million in Q1 2026.
Price Impact
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