TrustCo Bank Corp NY (TRST) 10-Year Financial Performance & Capital Metrics

TRST • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutTrustCo 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.Show more

Net Interest Income $152M -11.6%
Total Revenue $263M +7.6%
Net Income $49M -16.7%
Return on Equity 7.39% -21.5%
Net Interest Margin 2.44% -12.6%
Efficiency Ratio 40.18% -11.7%
ROA 0.79% -18.3%
Equity / Assets 10.84% +3.6%
Book Value per Share 35.53 +4.7%
Tangible BV/Share 35.53 +4.7%
Debt/Equity 0.18 -10.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 40.2% efficiency ratio
✓Well capitalized: 10.8% equity/assets
✓Healthy dividend yield of 3.3%
✓Trading near 52-week high
✓Trading at only 1.2x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.05%

5Y4.54%

3Y12.28%

TTM-

Profit (Net Income) CAGR

10Y1%

5Y-3.33%

3Y-7.41%

TTM19.94%

EPS CAGR

10Y0.99%

5Y-2.92%

3Y-6.95%

TTM19.6%

ROCE

10Y Avg14.29%

5Y Avg12.42%

3Y Avg12.6%

Latest8.59%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	143.15M	146.06M	154.37M	160.69M	155.81M	153.58M	160.41M	180.13M	171.84M	151.94M
NII Growth %	0.01%	0.02%	0.06%	0.04%	-0.03%	-0.01%	0.04%	0.12%	-0.05%	-0.12%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	159.34M	161.36M	168.96M	180.91M	192.13M	178.29M	167.98M	186.6M	226.21M	243.32M
Interest Expense	16.2M	15.3M	14.59M	20.23M	36.32M	24.71M	7.57M	6.47M	54.36M	91.38M
Loan Loss Provision	3.7M	2.95M	2M	1.4M	159K	5.6M	-5.45M	-341K	1.25M	2M
Non-Interest Income+	17.87M	19.01M	18.37M	18.08M	18.59M	17.17M	17.94M	19.26M	18.32M	19.83M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	177.22M	180.37M	187.33M	199M	210.72M	195.46M	185.92M	205.86M	244.52M	263.15M
Revenue Growth %	0%	0.02%	0.04%	0.06%	0.06%	-0.07%	-0.05%	0.11%	0.19%	0.08%
Non-Interest Expense	90.56M	93.83M	93.99M	97.71M	97.73M	95.7M	101.66M	100.32M	111.3M	105.73M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	66.76M	68.29M	76.75M	79.65M	76.51M	69.45M	82.13M	99.42M	77.61M	64.05M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.07%	0.02%	0.12%	0.04%	-0.04%	-0.09%	0.18%	0.21%	-0.22%	-0.17%
Pretax Income+	66.76M	68.29M	76.75M	79.65M	76.51M	69.45M	82.13M	99.42M	77.61M	64.05M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	24.52M	25.69M	33.6M	18.21M	18.67M	16.99M	20.61M	24.18M	18.97M	15.21M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	42.24M	42.6M	43.15M	61.45M	57.84M	52.45M	61.52M	75.23M	58.65M	48.83M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.04%	0.01%	0.01%	0.42%	-0.06%	-0.09%	0.17%	0.22%	-0.22%	-0.17%
Net Income (Continuing)	42.24M	42.6M	43.15M	61.45M	57.84M	52.45M	61.52M	75.23M	58.65M	48.83M
EPS (Diluted)+	2.22	2.23	2.24	3.18	2.98	2.72	3.19	3.93	3.08	2.57
EPS Growth %	-0.05%	0%	0%	0.42%	-0.06%	-0.09%	0.17%	0.23%	-0.22%	-0.17%
EPS (Basic)	2.22	2.23	2.25	3.18	2.99	2.72	3.19	3.93	3.08	2.57
Diluted Shares Outstanding	19.04M	19.13M	19.24M	19.33M	19.39M	19.3M	19.26M	19.13M	19.02M	19.04M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	41.7M	48.72M	44.13M	49.26M	48.2M	47.2M	48.36M	43.43M	49.27M	47.36M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	3.91B	4.05B	4.19B	4.35B	4.61B	4.65B	4.81B	5.18B	5.41B	5.41B
Investments Growth %	0.01%	0.04%	0.03%	0.04%	0.06%	0.01%	0.04%	0.08%	0.05%	-0%
Long-Term Investments	3.31B	3.43B	3.62B	3.85B	4.04B	4.21B	4.4B	4.69B	4.96B	5.11B
Accounts Receivables	0	0	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
PP&E (Net)	37.64M	35.47M	35.16M	34.69M	86.1M	82.3M	81.12M	77.28M	74.55M	70.41M
Other Assets	749.61M	732.08M	636.97M	521.66M	476.71M	1.12B	1.25B	702.95M	631.32M	709.61M
Total Current Assets	642.74M	669.08M	616.09M	550.72M	622.02M	486.27M	456.07M	524.94M	501.56M	344.52M
Total Non-Current Assets	4.09B	4.2B	4.29B	4.41B	4.6B	5.42B	5.74B	5.48B	5.67B	5.89B
Total Assets+	4.73B	4.87B	4.91B	4.96B	5.22B	5.9B	6.2B	6B	6.17B	6.24B
Asset Growth %	0.02%	0.03%	0.01%	0.01%	0.05%	0.13%	0.05%	-0.03%	0.03%	0.01%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	191.23M	209.41M	242.99M	161.89M	205.22M	267.54M	297.41M	294.38M	133.46M	124.94M
Net Debt	149.53M	160.69M	198.87M	112.63M	157.02M	220.34M	249.05M	250.95M	84.19M	77.58M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Short-Term Debt	191.23M	209.41M	242.99M	161.89M	148.67M	214.75M	244.69M	245.4M	88.99M	84.78M
Other Liabilities	0	0	0	0	0	0	0	-122.7M	38.67M	46.48M
Total Current Liabilities	4.32B	4.44B	4.45B	4.47B	4.63B	5.28B	5.54B	5.47B	5.44B	5.48B
Total Non-Current Liabilities	0	0	0	0	56.55M	52.78M	52.72M	-73.72M	83.14M	86.64M
Total Liabilities	4.32B	4.44B	4.45B	4.47B	4.68B	5.33B	5.6B	5.4B	5.52B	5.56B
Total Equity+	413.31M	432.69M	458.31M	489.87M	538.26M	568.16M	601.13M	599.99M	645.28M	676.34M
Equity Growth %	0.05%	0.05%	0.06%	0.07%	0.1%	0.06%	0.06%	-0%	0.08%	0.05%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.1%	0.1%	0.1%	0.13%	0.11%	0.09%	0.11%	0.13%	0.09%	0.07%
Book Value per Share	21.70	22.62	23.82	25.34	27.77	29.43	31.21	31.36	33.92	35.53
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	98.97M	99.21M	100M	100.17M	100.2M	20.04M	20.05M	20.06M	20.06M	20.1M
Additional Paid-in Capital	171.44M	171.43M	175.65M	176.71M	176.43M	256.61M	256.66M	257.08M	257.18M	258.87M
Retained Earnings	184.01M	201.52M	219.44M	256.4M	288.07M	313.97M	349.06M	393.83M	425.07M	446.5M
Accumulated OCI	-4.78M	-6.25M	-1.81M	-10.31M	4.46M	11.94M	12.15M	-27.19M	-13.24M	-3.86M
Treasury Stock	-36.33M	-33.22M	-34.97M	-33.1M	-30.9M	-34.4M	-36.78M	-43.79M	-43.79M	-45.27M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	60.01M	54.89M	61.69M	67.64M	63.8M	62.16M	55.37M	78.63M	64.13M	59.44M
Operating CF Growth %	0.09%	-0.09%	0.12%	0.1%	-0.06%	-0.03%	-0.11%	0.42%	-0.18%	-0.07%
Net Income	42.24M	42.6M	43.15M	61.45M	57.84M	52.45M	61.52M	75.23M	58.65M	48.83M
Depreciation & Amortization	4.55M	4.04M	3.82M	4.11M	9.94M	10.18M	10.6M	10.55M	10.79M	11.44M
Deferred Taxes	3.01M	3.26M	-183K	2.56M	1.14M	-1.07M	-238K	4.11M	2.16M	1.99M
Other Non-Cash Items	9.71M	7.73M	6.52M	4.7M	2.18M	8.1M	-1.59M	1.56M	2.87M	1.89M
Working Capital Changes	296K	-2.96M	8.25M	-5.34M	-7.31M	-7.52M	-14.93M	-12.83M	-10.44M	-5.42M
Cash from Investing+	-61.27M	-157.79M	-144.88M	-173.82M	-248.76M	-35.35M	-175.26M	-416.63M	-233.59M	-3.75M
Purchase of Investments	-189.82M	-275.3M	-83.03M	-61.81M	-262.75M	-145.34M	-139.96M	-203.52M	-19.68M	-42.77M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	-141.16M	-139.29M	-205.8M	-237.25M	-187.88M	-177.65M	-194M	-295.48M	-267.96M	-97.25M
Cash from Financing+	47.97M	92.02M	-11.34M	-2.85M	138.1M	623.44M	232.26M	-230.87M	96.87M	8.12M
Dividends Paid	-24.95M	-25.06M	-25.2M	-25.57M	-26.39M	-26.33M	-26.28M	-26.99M	-27.39M	-27.41M
Share Repurchases	-147K	-701K	-4.61M	-718K	-35K	-3.49M	-2.59M	-7M	0	-374K
Stock Issued	2.67M	2.45M	2.48M	2.39M	1.79M	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	1000K	-1000K	-1000K	1000K	1000K	-1000K	-1000K	-1000K
Other Financing	68.28M	97.15M	-17.6M	102.14M	175.95M	587.18M	231.2M	-74.89M	157.97M	40.11M
Net Change in Cash+	46.71M	-10.88M	-94.53M	-109.03M	-46.86M	650.25M	112.37M	-568.87M	-72.59M	63.81M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	671.45M	718.16M	707.27M	612.74M	503.71M	456.85M	1.11B	1.22B	650.6M	578M
Cash at End	718.16M	707.27M	612.74M	503.71M	456.85M	1.11B	1.22B	650.6M	578M	641.81M
Interest Paid	16.24M	15.28M	14.58M	19.74M	35.89M	25.69M	7.88M	6.03M	51.35M	91.17M
Income Taxes Paid	21M	23.49M	26.13M	16.36M	16.81M	18.18M	20.49M	19.46M	19.06M	8.87M
Free Cash Flow+	56.26M	52.84M	58.08M	63.99M	59.9M	58.33M	52.52M	74.84M	58.46M	54.56M
FCF Growth %	0.21%	-0.06%	0.1%	0.1%	-0.06%	-0.03%	-0.1%	0.42%	-0.22%	-0.07%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	10.47%	10.07%	9.68%	12.96%	11.25%	9.48%	10.52%	12.53%	9.42%	7.39%
Return on Assets (ROA)	0.9%	0.89%	0.88%	1.25%	1.14%	0.94%	1.02%	1.23%	0.96%	0.79%
Net Interest Margin	3.02%	3%	3.15%	3.24%	2.98%	2.6%	2.59%	3%	2.79%	2.44%
Efficiency Ratio	51.1%	52.02%	50.17%	49.1%	46.38%	48.96%	54.68%	48.73%	45.52%	40.18%
Equity / Assets	8.73%	8.89%	9.34%	9.88%	10.31%	9.63%	9.7%	10%	10.46%	10.84%
Book Value / Share	21.7	22.62	23.82	25.34	27.77	29.43	31.21	31.36	33.92	35.53
NII Growth	1.2%	2.03%	5.69%	4.09%	-3.04%	-1.43%	4.45%	12.3%	-4.6%	-11.58%
Dividend Payout	59.07%	58.83%	58.4%	41.61%	45.62%	50.2%	42.72%	35.88%	46.7%	56.13%

Frequently Asked Questions

Valuation & Price

TrustCo Bank Corp NY (TRST) has a price-to-earnings (P/E) ratio of 17.1x. This is roughly in line with market averages.

Growth & Financials

TrustCo Bank Corp NY (TRST) grew revenue by 7.6% over the past year. This is steady growth.

Yes, TrustCo Bank Corp NY (TRST) is profitable, generating $56.9M in net income for fiscal year 2024 (18.6% net margin).

Dividend & Returns

Yes, TrustCo Bank Corp NY (TRST) pays a dividend with a yield of 3.28%. This makes it attractive for income-focused investors.

TrustCo Bank Corp NY (TRST) has a return on equity (ROE) of 7.4%. This is below average, suggesting room for improvement.

Industry Metrics

TrustCo Bank Corp NY (TRST) has a net interest margin (NIM) of 2.4%. NIM has been under pressure due to interest rate environment.

TrustCo Bank Corp NY (TRST) has an efficiency ratio of 40.2%. This is excellent, indicating strong cost control.

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