TrustCo reports record FY2022 net income $75.2M, up 22.3%; Q4 EPS $1.10 vs $0.85 YoY

TRUSTCO BANK CORP N Y

2022-FY EPS reported $3.93

Full year net income $75.2M ($3.93 diluted EPS) vs $61.5M ($3.19 EPS) in 2021, up 22.3%.
Q4 2022 net income $20.9M ($1.10 diluted EPS) vs $16.2M ($0.85 EPS) in Q4 2021.
Net interest margin expanded to 3.34% from 2.69% YoY; efficiency ratio improved to 48.75% from 58.50%.
Average loans up $253.2M (+5.7%) in Q4 vs year ago, led by residential mortgages.
Book value per share $31.54, up 0.8% YoY; equity to assets ratio 10.00% vs 9.70%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TRUSTCO BANK CORP N Y reported the three months ended December 31, 2022 results: net income $20.9 million, EPS $1.10 diluted earnings per share.

Period: the three months ended December 31, 2022
Net income: $20.9 million
EPS: $1.10 diluted earnings per share
Result: reported results

Exact text from the filing

and net income of $20.9 million or $1.10 diluted earnings per share for the three months ended December 31, 2022 which is another record quarter, compared to net income of $16.2 million or $0.85 diluted earnings per share for the three months ended December 31, 2021

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TRUSTCO BANK CORP N Y reported full year 2022 results: net income $75.2 million, EPS $3.93 diluted earnings per share.

Period: full year 2022
Net income: $75.2 million
EPS: $3.93 diluted earnings per share
Result: reported results

Exact text from the filing

TrustCo Bank Corp NY (TrustCo, NASDAQ: TRST) today announced full year 2022 net income of $75.2 million or $3.93 diluted earnings per share, compared to net income of $61.5 million or $3.19 diluted earnings per share for the full year 2021

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Source: SEC EDGAR

accession 0001140361-23-002432

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