secwatch.observer — SEC 8-K summary
======================================

Issuer:     TRUSTCO BANK CORP N Y (TRST)
CIK:        0000357301
Form:       8-K
Filed at:   2023-10-23T23:59:59+00:00
Accession:  0001140361-23-049173
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/357301/000114036123049173/0001140361-23-049173-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/357301/000114036123049173/ef20012912_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-049173

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer