secwatch.observer — SEC 8-K summary
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Issuer:     TRUSTCO BANK CORP N Y (TRST)
CIK:        0000357301
Form:       8-K
Filed at:   2023-04-24T23:59:59+00:00
Accession:  0001140361-23-019878
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/357301/000114036123019878/0001140361-23-019878-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/357301/000114036123019878/brhc20051769_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-019878

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