TrustCo Q1 net income $12.1M, book value $34.12, loan growth 5.2% at annual meeting

TRUSTCO BANK CORP N Y

Net income $12.1M in Q1 2024, up from $9.8M in Q4 2023 (ROAA 0.80%, ROAE 7.54%).
Book value $34.12, up $1.81 from Q1 2023; consolidated equity to assets 10.51%.
Loan growth 5.2% YoY; NPLs 0.37% of total loans; net recoveries for seven consecutive quarters.
Dividend yield in top 90th percentile of peer group; $755M dividends paid since 2000.
All director nominees elected with >90% support; say-on-pay approved 87.22%; auditor ratified 97.74%.

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