TrustCo Bank Corp NY (TRST) Income Statement Analysis

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Complete financial analysis of TrustCo Bank Corp NY (TRST) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of TrustCo Bank Corp NY, a leading company in the Banks – Regional industry within the Financial Services sector.

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TrustCo Bank Corp NY (TRST)

Industry: Banks - Regional

Sector: Financial Services

Website: https://www.trustcobank.com

About TrustCo Bank Corp NY

TrustCo Bank Corp NY operates as the holding company for Trustco Bank, a federal savings bank that provides personal and business banking services to individuals, partnerships, and corporations. The company accepts deposits; and offers loans and investments. It also operates as a real estate investment trust that acquires, holds, and manages real estate mortgage assets, including residential mortgage loans and mortgage-backed securities. In addition, the company serves as the executor of estates and trustee of personal trusts; provides asset and wealth management, estate planning and related advice, and custodial services; and acts as trustee for various types of employee benefit plans, and corporate pension and profit-sharing trusts. As of December 31, 2021, it operated through 147 banking offices and 163 automatic teller machines in New York, New Jersey, Vermont, Massachusetts, and Florida. The company was founded in 1902 and is headquartered in Glenville, New York.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988	1987	1986	1985
Revenue	190.16M	189.95M	178.35M	170.75M	174.40M	178.77M	172.74M	165.07M	161.02M	161.36M	155.53M	155.95M	150.89M	36.53M	131.17M	115.15M	114.20M	113.13M	132.16M	131.99M	126.04M	123.01M	121.70M	114.42M	108.60M	107.80M	102.70M	94.60M	95.50M	84.20M	91.20M	82.30M	52.40M	38.80M	38.00M	0.00	0.00	0.00	0.00
Cost of Revenue	44.06M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-109.55M	0.00	-155.00K	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	146.10M	189.95M	178.35M	170.75M	174.40M	178.77M	172.74M	165.07M	161.02M	161.36M	155.53M	155.95M	150.89M	146.08M	131.17M	115.30M	114.20M	113.13M	132.16M	131.99M	126.04M	123.01M	121.70M	114.42M	108.60M	107.80M	102.70M	94.60M	95.50M	84.20M	91.20M	82.30M	52.40M	38.80M	38.00M	0.00	0.00	0.00	0.00
Gross Profit Ratio	76.83%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	399.90%	100.00%	100.13%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	0.00%	0.00%	0.00%	0.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	55.54M	49.06M	60.12M	55.62M	56.02M	52.35M	51.25M	48.69M	44.72M	42.14M	41.52M	40.22M	38.51M	38.97M	40.31M	30.40M	20.27M	18.43M	20.62M	20.70M	20.45M	22.34M	25.88M	23.25M	25.00M	23.40M	23.20M	21.50M	19.90M	18.20M	16.60M	15.90M	11.70M	9.90M	9.30M	0.00	0.00	0.00	0.00
Selling & Marketing	1.88M	2.05M	1.98M	1.92M	2.52M	3.02M	2.58M	2.52M	2.59M	2.49M	2.83M	3.84M	2.78M	2.72M	2.96M	2.35M	2.34M	2.28M	1.42M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	900.00K	1.00M	2.20M	1.50M	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	94.44M	51.11M	62.09M	57.54M	58.54M	55.37M	53.83M	51.21M	47.31M	44.62M	44.35M	44.06M	41.29M	41.69M	43.27M	32.75M	22.61M	20.70M	20.62M	20.70M	20.45M	22.34M	25.88M	23.25M	25.00M	23.40M	23.20M	21.50M	19.90M	19.10M	17.60M	18.10M	13.20M	9.90M	9.30M	0.00	0.00	0.00	0.00
Other Expenses	0.00	-30.52M	-158.30M	-158.84M	-156.43M	-134.25M	-135.23M	-132.68M	-125.38M	-118.91M	-121.07M	-120.06M	-113.55M	-108.85M	-81.71M	-23.69M	14.28M	4.75M	-17.30M	-30.56M	-29.40M	-21.06M	-9.37M	515.00K	-1.70M	11.60M	11.70M	12.20M	3.10M	-7.10M	-14.30M	2.80M	10.50M	14.00M	7.20M	7.80M	6.80M	5.70M	4.90M
Operating Expenses	94.44M	2.05M	-96.21M	-101.30M	-97.89M	-78.89M	-81.40M	-81.47M	-78.06M	-74.28M	-76.72M	-76.00M	-72.26M	-67.17M	-38.44M	9.06M	36.89M	25.45M	3.33M	-9.86M	-8.95M	1.27M	16.51M	23.77M	23.30M	35.00M	34.90M	33.70M	23.00M	12.00M	3.30M	20.90M	23.70M	23.90M	16.50M	7.80M	6.80M	5.70M	4.90M
Cost & Expenses	94.44M	2.05M	-96.21M	-101.30M	-97.89M	-78.89M	-81.40M	-81.47M	-78.06M	-74.28M	-76.72M	-76.00M	-72.26M	-109.55M	-38.44M	-155.00K	36.89M	25.45M	3.33M	-9.86M	-8.95M	1.27M	16.51M	23.77M	23.30M	35.00M	34.90M	33.70M	23.00M	12.00M	3.30M	20.90M	23.70M	23.90M	16.50M	7.80M	6.80M	5.70M	4.90M
Interest Income	226.21M	186.60M	167.98M	178.29M	192.13M	180.91M	168.96M	161.36M	159.35M	156.94M	151.05M	154.96M	160.75M	39.61M	161.36M	170.92M	189.42M	169.21M	150.17M	138.79M	137.13M	153.74M	168.66M	173.70M	167.20M	174.10M	172.00M	166.60M	161.60M	140.30M	133.70M	143.30M	100.90M	81.50M	73.20M	0.00	0.00	0.00	0.00
Interest Expense	54.36M	6.47M	7.57M	24.71M	36.32M	20.23M	14.59M	15.30M	16.20M	15.49M	15.28M	19.98M	26.24M	7.68M	49.45M	74.06M	92.98M	70.94M	45.66M	38.76M	40.74M	58.02M	72.76M	75.65M	74.00M	88.40M	86.50M	82.30M	80.20M	60.70M	61.70M	76.40M	58.30M	48.40M	41.70M	0.00	0.00	0.00	0.00
Depreciation & Amortization	10.79M	10.55M	10.58M	10.14M	9.99M	4.11M	3.82M	4.04M	4.55M	4.78M	5.02M	5.03M	4.84M	4.73M	4.50M	3.78M	3.12M	2.67M	2.69M	1.90M	2.49M	2.17M	2.72M	2.74M	2.20M	2.50M	3.30M	3.00M	3.60M	2.70M	2.40M	2.20M	1.20M	900.00K	900.00K	0.00	0.00	0.00	0.00
EBITDA	88.40M	109.97M	92.72M	79.58M	86.50M	83.76M	80.56M	72.33M	71.31M	76.37M	68.55M	65.01M	57.22M	48.64M	47.78M	54.09M	61.22M	70.31M	92.53M	85.29M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	7.80M	6.80M	5.70M	4.90M
EBITDA Ratio	46.49%	55.74%	52.00%	46.63%	49.57%	58.17%	55.09%	53.09%	54.35%	56.92%	53.90%	54.49%	55.32%	228.98%	74.13%	111.28%	135.03%	124.86%	104.55%	93.97%	94.88%	102.80%	115.80%	123.17%	123.48%	134.79%	137.20%	138.79%	127.85%	117.46%	106.25%	128.07%	147.52%	163.92%	145.79%	0.00%	0.00%	0.00%	0.00%
Operating Income	94.47M	95.33M	82.13M	69.45M	76.51M	99.88M	91.34M	83.59M	82.96M	87.08M	78.81M	79.95M	78.63M	78.91M	92.73M	124.37M	151.09M	138.58M	135.49M	122.14M	117.09M	124.29M	138.21M	138.19M	131.90M	142.80M	137.60M	128.30M	118.50M	96.20M	94.50M	103.20M	76.10M	62.70M	54.50M	7.80M	6.80M	5.70M	4.90M
Operating Income Ratio	49.68%	50.19%	46.05%	40.67%	43.87%	55.87%	52.88%	50.64%	51.52%	53.96%	50.67%	51.27%	52.11%	216.03%	70.70%	108.00%	132.30%	122.50%	102.52%	92.53%	92.90%	101.04%	113.57%	120.77%	121.45%	132.47%	133.98%	135.62%	124.08%	114.25%	103.62%	125.39%	145.23%	161.60%	143.42%	0.00%	0.00%	0.00%	0.00%
Total Other Income/Expenses	-16.86M	-13.57M	-12.12M	-10.61M	-11.07M	-14.25M	-14.79M	-17.99M	-19.04M	-14.68M	-16.50M	-7.04M	-4.84M	-4.73M	-4.50M	0.00	0.00	0.00	0.00	0.00	-40.74M	-58.02M	-72.76M	-75.65M	-74.00M	-88.40M	-86.50M	-82.30M	-80.20M	-60.70M	-58.40M	-76.40M	-58.30M	-48.40M	-41.70M	0.00	0.00	0.00	0.00
Income Before Tax	77.61M	99.42M	82.13M	69.45M	76.51M	79.65M	76.75M	68.29M	66.76M	71.59M	63.53M	59.98M	52.39M	10.37M	43.28M	50.31M	58.10M	67.64M	89.83M	83.38M	76.35M	66.27M	65.45M	62.54M	57.90M	54.40M	51.10M	46.00M	38.30M	35.50M	36.10M	26.80M	17.80M	14.30M	12.80M	0.00	0.00	0.00	0.00
Income Before Tax Ratio	40.81%	52.34%	46.05%	40.67%	43.87%	44.56%	44.43%	41.37%	41.46%	44.37%	40.85%	38.46%	34.72%	28.39%	33.00%	43.69%	50.88%	59.79%	67.97%	63.17%	60.58%	53.87%	53.78%	54.66%	53.31%	50.46%	49.76%	48.63%	40.10%	42.16%	39.58%	32.56%	33.97%	36.86%	33.68%	0.00%	0.00%	0.00%	0.00%
Income Tax Expense	18.97M	24.18M	20.61M	16.99M	18.67M	18.21M	33.60M	25.69M	24.52M	27.40M	23.72M	22.44M	19.30M	3.47M	15.16M	16.23M	18.64M	22.31M	30.85M	26.84M	23.32M	17.02M	19.94M	20.84M	19.70M	19.40M	18.90M	17.30M	12.80M	12.60M	12.50M	9.30M	4.90M	3.70M	3.40M	-7.80M	-6.80M	-5.70M	-4.90M
Net Income	58.65M	75.23M	61.52M	52.45M	57.84M	61.45M	43.15M	42.60M	42.24M	44.19M	39.81M	37.53M	33.09M	6.90M	28.12M	34.08M	39.47M	45.33M	58.99M	56.54M	53.03M	49.24M	45.51M	41.70M	38.20M	35.00M	32.20M	28.70M	25.50M	22.90M	20.30M	17.50M	12.90M	10.60M	9.40M	7.80M	6.80M	5.70M	4.90M
Net Income Ratio	30.84%	39.61%	34.49%	30.72%	33.17%	34.37%	24.98%	25.81%	26.23%	27.39%	25.60%	24.07%	21.93%	18.90%	21.44%	29.59%	34.56%	40.07%	44.63%	42.84%	42.07%	40.03%	37.40%	36.45%	35.17%	32.47%	31.35%	30.34%	26.70%	27.20%	22.26%	21.26%	24.62%	27.32%	24.74%	0.00%	0.00%	0.00%	0.00%
EPS	3.08	3.93	3.19	2.72	2.99	3.18	2.25	2.23	2.22	2.34	2.11	2.00	1.95	0.45	1.84	2.25	2.63	3.03	3.94	3.81	3.57	3.39	3.20	2.95	2.69	2.46	3.00	2.70	1.76	1.45	1.48	1.25	1.21	1.10	0.98	0.83	0.72	0.61	0.53
EPS Diluted	3.08	3.93	3.19	2.72	2.98	3.18	2.24	2.23	2.22	2.33	2.11	2.00	1.95	0.45	1.84	2.25	2.63	3.02	3.91	3.77	3.52	3.30	3.10	2.86	2.58	2.38	2.90	2.60	1.76	1.45	1.44	1.25	1.21	1.10	0.98	0.83	0.72	0.61	0.53
Weighted Avg Shares Out	19.02M	19.13M	19.26M	19.30M	19.37M	19.30M	19.22M	19.11M	19.02M	18.93M	18.83M	18.73M	17.01M	15.39M	15.30M	15.15M	15.04M	14.98M	14.99M	14.86M	14.88M	14.53M	14.22M	14.15M	14.22M	14.24M	10.73M	10.63M	14.45M	15.79M	13.75M	14.01M	10.65M	9.66M	9.55M	9.37M	9.46M	9.41M	9.25M
Weighted Avg Shares Out (Dil)	19.03M	19.13M	19.26M	19.30M	19.39M	19.33M	19.24M	19.13M	19.04M	18.95M	18.84M	18.73M	17.01M	15.39M	15.30M	15.16M	15.04M	15.03M	15.09M	15.02M	15.07M	14.92M	14.68M	14.60M	14.79M	14.69M	11.10M	11.04M	14.46M	15.79M	14.12M	14.01M	10.65M	9.66M	9.55M	9.37M	9.46M	9.41M	9.25M

TrustCo's Total Loans Surpass $5 Billion - Reach All-Time High; Nonperforming Assets to Total Assets at 0.29%, Lowest in 17 Years

January 22, 2024globenewswire.com

Executive Snapshot: Loan portfolio reaches all-time high: At $5.0 billion as of December 31, 2023, loans continued to set new all-time highs On average, total loans were up $309.9 million or 6.6% for the fourth quarter 2023 compared to fourth...

TrustCo to Release Fourth Quarter 2023 Results on January 22, 2024; Conference Call on January 23, 2024

January 10, 2024globenewswire.com

GLENVILLE, N.Y., Jan. 10, 2024 (GLOBE NEWSWIRE) -- TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it will release fourth quarter 2023 results after the market close on January 22, 2024. Results are released on the 21st of...

Trustco Bank's Upside Has Become Limited

December 26, 2023seekingalpha.com

Trustco Bank's shares have outperformed the market, up 9.2% compared to the S&P 500's 6.9% increase. The bank has seen a decline in the value of deposits and an uptick in uninsured deposit exposure. Despite weaknesses, the stock is still...

TrustCo (TRST) Surges 5.6%: Is This an Indication of Further Gains?

December 14, 2023zacks.com

TrustCo (TRST) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.

Strong Capital Supports TrustCo's Consistent Dividend; Annualized Payout of $1.44 per share

November 21, 2023globenewswire.com

GLENVILLE, N.Y., Nov. 21, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on November 21, 2023, declared a quarterly cash dividend of $0.36 per share, or $1.44 per share on an annualized...

TrustCo Bank Corp NY (TRST) Q3 2023 Earnings Call Transcript

October 24, 2023seekingalpha.com

TrustCo Bank Corp NY (NASDAQ:TRST ) Q3 2023 Earnings Call Transcript October 24, 2023 9:00 AM ET Company Participants Robert J. McCormick - Chairman, President and CEO Michael Ozimek - CFO Scot Salvador - EVP Commercial Banking Conference Call Participants...