secwatch.observer — SEC 8-K summary
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Issuer:     TRUSTCO BANK CORP N Y (TRST)
CIK:        0000357301
Form:       8-K
Filed at:   2024-07-22T23:59:59+00:00
Accession:  0001140361-24-033737
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TrustCo Q2 net income $12.6M ($0.66 EPS); loan growth 3.8% YoY, NIM up 9bps to 2.53%
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- Net income $12.6M vs $16.4M in Q2 2023; diluted EPS $0.66 down 23% YoY but up 4% from Q1 2024.
- Net interest income $37.8M, up 3.3% from prior quarter; net interest margin 2.53% (up 9 bps QoQ).
- Average loans grew $182.2M (+3.8% YoY); residential, home equity, and commercial all increased.
- Nonperforming loans $19.2M (0.38% of total loans); allowance coverage ratio 259.4%.
- Book value per share $34.46 (+5.5% YoY); equity-to-assets ratio 10.73%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/357301/000114036124033737/0001140361-24-033737-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/357301/000114036124033737/ef20032698_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-033737

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