secwatch.observer — SEC 8-K summary
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Issuer:     TRUSTCO BANK CORP N Y (TRST)
CIK:        0000357301
Form:       8-K
Filed at:   2024-10-21T23:59:59+00:00
Accession:  0001140361-24-043797
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TrustCo Q3 net income $12.9M, EPS $0.68; NIM expands to 2.61%
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- Net income $12.9M ($0.68 diluted EPS) vs $14.7M ($0.77) in Q3 2023; 9M 2024 net income $37.6M ($1.97) vs $48.9M ($2.57) prior year.
- Net interest income $38.7M, up 2.3% from Q2 2024; net interest margin 2.61%, up 8 bps from 2.53% in Q2 2024.
- Average loans grew 2.6% YoY; home equity lines up 18.7% YoY; residential loans up 1.2% YoY.
- Nonperforming loans $19.4M (0.38% of total loans); allowance for credit losses to loans 0.99%; coverage ratio 256.9%.
- Book value per share $35.19, up 7.3% from $32.80 a year ago; equity to assets 10.95%, up from 10.31%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/357301/000114036124043797/0001140361-24-043797-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/357301/000114036124043797/ef20037449_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-043797

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