Quarterly ResultJul 21, 2026, 04:02 PM
TrustCo Q2 Net Income +12.8% to $17M; EPS $0.98
AI Summary
TrustCo Bank Corp NY reported strong financial results for the second quarter of 2026, with net income increasing 12.8% to $17.0 million and diluted EPS rising 24.1% to $0.98. The company saw a 9.2% increase in net interest income to $45.6 million and an expansion of its net interest margin to 2.87%. Both average loans and deposits grew by 3.8%, and TrustCo continued its share repurchase program, acquiring 10.5% of its outstanding common stock in the first half of the year.
Key Highlights
- Net income increased 12.8% to $17.0 million for Q2 2026.
- Diluted earnings per share rose 24.1% to $0.98.
- Net interest income grew 9.2% to $45.6 million.
- Net interest margin expanded 16 basis points to 2.87%.
- Average loans and average deposits both increased 3.8% year-over-year.
- Repurchased 10.5% of outstanding common stock in the first half of 2026.
- Book value per share increased 4.8% to $38.53 as of June 30, 2026.
- Recognized an $844 thousand unrealized gain on equity securities.
Price Impact
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