Quarterly ResultJul 21, 2026, 04:03 PM
TrustCo Bank Q2 EPS $0.98, Net Income $17.0M; Buyback Progress
AI Summary
TrustCo Bank Corp NY reported strong financial results for Q2 2026, with diluted earnings per share increasing 24.1% to $0.98 and net income rising 12.8% to $17.0 million. Net interest income grew 9.2% to $45.6 million, and net interest margin expanded to 2.87%. The company also highlighted its ongoing stock repurchase program, having acquired over one million shares in H1 2026 and being on track to repurchase a total of three million shares (15.8% of common stock) by year-end 2026.
Key Highlights
- Diluted EPS increased 24.1% to $0.98 in Q2 2026 from $0.79 in Q2 2025.
- Net income rose 12.8% to $17.0 million in Q2 2026 from $15.0 million in Q2 2025.
- Net interest income grew 9.2% to $45.6 million, with net interest margin expanding to 2.87%.
- Average loans and deposits both increased by 3.8% year-over-year.
- Book value per share increased 4.8% to $38.53 as of June 30, 2026.
- Repurchased over one million shares in H1 2026, on track for 3 million shares (15.8%) by year-end 2026.
- Recognized an $844 thousand unrealized gain on equity securities from Visa shares.
Price Impact
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