---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-019878"
form_type: "8-K"
ticker: "TRST"
cik: "0000357301"
company_name: "TRUSTCO BANK CORP N Y"
filed_at: "2023-04-24T23:59:59+00:00"
generated_at: "2026-06-16T19:52:12.135750+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# TrustCo Q1 net income $17.7M, EPS $0.93; loan growth 7% YoY

## Summary
- Net income of $17.7M ($0.93 diluted EPS) vs $17.1M ($0.89) YoY, up 3.8%.
- Net interest income $47.0M, up 17.1% from $40.1M; net interest margin 3.21% vs 2.66%.
- Average loans grew 7.0% YoY ($312M increase), led by residential mortgages up 5.1%.
- Nonperforming loans improved to 0.40% of loans; net recoveries of $53k in quarter.
- Book value per share $32.31, up 4.7%; equity-to-assets ratio 10.17%.

## SEC filing metadata
- accession: 0001140361-23-019878
- form_type: 8-K
- ticker: TRST
- cik: 0000357301
- company_name: TRUSTCO BANK CORP N Y
- filed_at: 2023-04-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/357301/000114036123019878/0001140361-23-019878-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/357301/000114036123019878/brhc20051769_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-019878
- JSON: https://secwatch.observer/filing/0001140361-23-019878.json
- Plain text: https://secwatch.observer/filing/0001140361-23-019878.txt

## Key facts
- Earnings Releases
  TRUSTCO BANK CORP N Y reported first quarter 2023 results: revenue $47.0 million, net income $17.7 million, EPS $0.93 diluted earnings per share.
  - Period: first quarter 2023
  - Revenue: $47.0 million
  - Net income: $17.7 million
  - EPS: $0.93 diluted earnings per share
  - Result: reported results
  source text: when the depositors would start to absorb the funds. This gave us flexibility to strategically price deposits while retaining core customers. Page 2 Net interest income was $47.0 million for the first quarter 2023, an increase of $6.9 million or 17.1% compared to the same period in 2022, driven by solid liquidity, loan growth, and the recent increases in the
  evidence_url: https://www.sec.gov/Archives/edgar/data/357301/000114036123019878/0001140361-23-019878-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.