TrustCo Q3 net income $14.7M ($0.77 EPS), down from $19.4M Q3 2022; loans hit all-time high $5.0B

TRUSTCO BANK CORP N Y

2023-Q3 EPS reported $2.57

Net income $14.7M ($0.77 diluted EPS) vs $19.4M ($1.01) in Q3 2022 and $16.4M ($0.86) in Q2 2023.
Net interest income $42.2M, down 11.7% YoY; net interest margin 2.85% vs 3.16% Q3 2022.
Total loans $5.0B, up $330.8M (7.1%) YoY; residential mortgages led growth.
Nonperforming loans improved to 0.36% of total loans from 0.40% a year ago; seven consecutive quarters of net recoveries.
Book value per share $32.80, up 6.2% from $30.89; equity-to-assets ratio 10.31% vs 9.69%.

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 third quarter 2023 results: net income $14.7 million, EPS $0.77 diluted earnings per share.

Period: third quarter 2023
Net income: $14.7 million
EPS: $0.77 diluted earnings per share
Result: reported results

Exact text from the filing

On October 23, 2023 TrustCo Bank Corp NY ("TrustCo") issued a press release with results for the quarter ending September 30, 2023.

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Source: SEC EDGAR

accession 0001140361-23-049173

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