TrustCo Bank Corp NY (TRST) Income Statement

30Y historyFree accessUpdated daily

Net interest income accelerated 9.2% year-over-year to $45.6M in Q2 2026, with NIM improving from 0.6% to 0.7%, though a negative $38.5M non-interest income swing created significant revenue instability.

Annual statement

TRST Income Statement

TrustCo Bank Corp NY (TRST) annual income statement — 30-year revenue, gross profit & net income history

Annual Quarterly

Metric	TTM	Dec'25	Dec'24	Dec'23	Dec'22	Dec'21	Dec'20	Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08	Dec'07	Dec'06	Dec'05	Dec'04	Dec'03	Dec'02	Dec'01	Dec'00	Dec'99	Dec'98	Dec'97	Dec'96

Net Interest Income	177.15M	168.97M	151.94M	171.84M	180.13M	160.41M	153.58M	155.81M	160.69M	154.37M	146.06M	143.15M	141.45M	135.76M	134.99M	134.5M	127.13M	111.91M	96.86M	96.43M	98.27M	104.52M	100.03M	96.39M	95.72M	95.9M	98.05M	93.2M	85.7M	85.5M	84.3M
NII Growth %	43.87%	11.21%	-11.58%	-4.6%	12.3%	4.45%	-1.43%	-3.04%	4.09%	5.69%	2.03%	1.2%	4.19%	0.57%	0.36%	5.8%	13.6%	15.53%	0.44%	-1.87%	-5.98%	4.49%	3.77%	0.71%	-0.19%	-2.2%	5.21%	8.75%	0.23%	1.42%	3.56%
Net Interest Margin %	2.71%	2.62%	2.44%	2.79%	3%	2.59%	2.6%	2.98%	3.24%	3.15%	3%	3.02%	3.05%	3%	3.11%	3.17%	3.21%	3.04%	2.76%	2.86%	3.11%	3.59%	3.49%	3.47%	3.55%	3.72%	3.99%	3.94%	3.45%	3.6%	3.73%
Interest Income	266.06M	259.42M	243.32M	226.21M	186.6M	167.98M	178.29M	192.13M	180.91M	168.96M	161.36M	159.34M	156.94M	151.05M	154.96M	160.75M	162.12M	161.36M	170.92M	189.42M	169.21M	150.17M	138.79M	137.13M	153.74M	168.66M	173.7M	167.2M	174.1M	172M	166.6M
Interest Expense	88.91M	90.44M	91.38M	54.36M	6.47M	7.57M	24.71M	36.32M	20.23M	14.59M	15.3M	16.2M	15.49M	15.28M	19.98M	26.24M	35M	49.45M	74.06M	92.98M	70.94M	45.66M	38.76M	40.74M	58.02M	72.76M	75.65M	74M	88.4M	86.5M	82.3M
Loan Loss Provision	1.55M	1.2M	2M	1.25M	-341K	-5.45M	5.6M	159K	1.4M	2M	2.95M	3.7M	5.1M	7M	12M	18.75M	23.2M	11.31M	4.2M	2.5M	-3.58M	-6.26M	450K	1.2M	1.42M	4.94M	4.11M	5.1M	4.55M	5.4M	6.6M
Non-Interest Income	-24.61M	18.92M	19.83M	18.32M	19.26M	17.94M	17.17M	18.59M	18.08M	18.37M	19.01M	17.87M	19.91M	19.77M	20.96M	18.77M	20.88M	19.26M	18.44M	17.76M	14.86M	25.29M	31.96M	29.65M	27.3M	25.8M	16.37M	15.4M	22.07M	17.2M	10.3M
Non-Interest Income %	-16.13%	10.07%	11.55%	9.63%	9.66%	10.06%	10.06%	10.66%	10.11%	10.64%	11.52%	11.1%	12.34%	12.71%	13.44%	12.25%	14.11%	14.69%	15.99%	15.55%	13.13%	19.48%	24.22%	23.52%	22.19%	21.2%	14.3%	14.18%	20.48%	16.75%	10.89%
Total Net Revenue	152.54M	187.89M	171.77M	190.16M	199.4M	178.34M	170.75M	174.4M	178.77M	172.74M	165.07M	161.02M	161.36M	155.53M	155.95M	153.28M	148.01M	131.17M	115.3M	114.2M	113.13M	129.81M	131.99M	126.04M	123.01M	121.7M	114.42M	108.6M	107.77M	102.7M	94.6M
Revenue Growth %	-14.7%	9.38%	-9.67%	-4.63%	11.8%	4.45%	-2.09%	-2.44%	3.49%	4.65%	2.51%	-0.21%	3.75%	-0.27%	1.75%	3.56%	12.83%	13.76%	0.97%	0.95%	-12.85%	-1.66%	4.72%	2.46%	1.08%	6.36%	5.36%	0.77%	4.94%	8.56%	-0.94%
Non-Interest Expense	108.22M	105.5M	105.73M	111.3M	100.32M	101.66M	95.7M	97.73M	97.71M	93.99M	93.83M	90.56M	84.67M	85M	83.98M	82.14M	80.89M	76.58M	60.79M	53.59M	49.06M	46.23M	48.16M	48.49M	55.33M	51.31M	47.77M	45.6M	48.82M	46.2M	42M
Efficiency Ratio	70.94%	56.15%	61.55%	58.53%	50.31%	57%	56.05%	56.04%	54.66%	54.41%	56.84%	56.24%	52.47%	54.65%	53.85%	53.59%	54.66%	58.38%	52.73%	46.93%	43.37%	35.62%	36.49%	38.47%	44.98%	42.16%	41.75%	41.99%	45.3%	44.99%	44.4%
Operating Income	42.77M	81.21M	64.05M	77.61M	99.42M	82.13M	69.45M	76.51M	79.65M	76.75M	68.29M	66.76M	71.59M	63.53M	59.98M	52.38M	43.91M	43.28M	50.31M	58.1M	67.64M	89.83M	83.38M	76.35M	66.27M	65.45M	62.54M	57.9M	54.4M	51.1M	46M
Operating Margin %	28.04%	43.22%	37.29%	40.81%	49.86%	46.05%	40.67%	43.87%	44.56%	44.43%	41.37%	41.46%	44.37%	40.85%	38.46%	34.18%	29.67%	33%	43.63%	50.88%	59.79%	69.21%	63.17%	60.58%	53.87%	53.78%	54.66%	53.31%	50.48%	49.76%	48.63%
Operating Income Growth %	-	26.81%	-17.48%	-21.93%	21.04%	18.27%	-9.23%	-3.95%	3.79%	12.38%	2.29%	-6.75%	12.69%	5.93%	14.49%	19.3%	1.46%	-13.97%	-13.41%	-14.1%	-24.71%	7.74%	9.2%	15.22%	1.25%	4.65%	8.01%	6.43%	6.46%	11.09%	20.1%
Pretax Income	86.51M	80.81M	64.05M	77.61M	99.42M	82.13M	69.45M	76.51M	79.65M	76.75M	68.29M	66.76M	71.59M	63.53M	59.98M	52.38M	43.91M	43.28M	50.31M	58.1M	67.64M	89.83M	83.38M	76.35M	66.27M	65.45M	62.54M	57.9M	54.4M	51.1M	46M
Pretax Margin %	56.71%	43.01%	37.29%	40.81%	49.86%	46.05%	40.67%	43.87%	44.56%	44.43%	41.37%	41.46%	44.37%	40.85%	38.46%	34.18%	29.67%	33%	43.63%	50.88%	59.79%	69.21%	63.17%	60.58%	53.87%	53.78%	54.66%	53.31%	50.48%	49.76%	48.63%
Income Tax	21.43M	19.68M	15.21M	18.97M	24.18M	20.61M	16.99M	18.67M	18.21M	33.6M	25.69M	24.52M	27.4M	23.72M	22.44M	19.3M	14.59M	15.16M	16.23M	18.64M	22.31M	30.84M	26.84M	23.32M	17.02M	19.94M	20.84M	19.7M	19.4M	18.9M	17.3M
Effective Tax Rate %	24.78%	24.35%	23.75%	24.44%	24.32%	25.1%	24.47%	24.4%	22.86%	43.78%	37.62%	36.73%	38.27%	37.33%	37.42%	36.84%	33.23%	35.03%	32.26%	32.07%	32.99%	34.34%	32.19%	30.55%	25.69%	30.46%	33.32%	34.02%	35.66%	36.99%	37.61%
Net Income	65.07M	61.14M	48.83M	58.65M	75.23M	61.52M	52.45M	57.84M	61.45M	43.15M	42.6M	42.24M	44.19M	39.81M	37.53M	33.09M	29.32M	28.12M	34.08M	39.47M	45.33M	58.99M	56.54M	53.03M	49.24M	45.51M	41.7M	38.2M	35M	32.2M	28.7M
Net Margin %	42.66%	32.54%	28.43%	30.84%	37.73%	34.49%	30.72%	33.17%	34.37%	24.98%	25.81%	26.23%	27.39%	25.6%	24.07%	21.59%	19.81%	21.44%	29.55%	34.56%	40.07%	45.44%	42.84%	42.07%	40.03%	37.4%	36.45%	35.17%	32.48%	31.35%	30.34%
Net Income Growth %	21.7%	25.2%	-16.73%	-22.05%	22.29%	17.29%	-9.32%	-5.87%	42.42%	1.28%	0.86%	-4.42%	11%	6.07%	13.44%	12.84%	4.27%	-17.48%	-13.66%	-12.92%	-23.16%	4.33%	6.62%	7.69%	8.2%	9.13%	9.17%	9.14%	8.7%	12.2%	12.55%
Net Income (Continuing)	65.07M	61.14M	48.83M	58.65M	75.23M	61.52M	52.45M	57.84M	61.45M	43.15M	42.6M	42.24M	44.19M	39.81M	37.53M	33.09M	29.32M	28.12M	34.08M	39.47M	45.33M	58.99M	56.54M	53.03M	49.24M	45.51M	41.7M	38.2M	35M	32.2M	28.7M
EPS (Diluted)	3.69	3.25	2.57	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
EPS Growth %	28.11%	26.46%	-16.56%	-21.63%	23.2%	17.28%	-8.72%	-6.29%	41.96%	0.45%	0.45%	-4.72%	10.43%	5.5%	2.56%	333.33%	-75.54%	-18.22%	-14.45%	-12.91%	-22.76%	3.71%	7.1%	6.67%	6.45%	8.39%	10.85%	8.4%	-17.93%	11.54%	47.73%
EPS (Basic)	-	3.25	2.57	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
Diluted Shares Outstanding	17.63M	18.33M	19.04M	19.02M	19.13M	19.26M	19.3M	19.39M	19.33M	19.24M	19.13M	19.04M	18.95M	18.84M	18.73M	17.01M	15.39M	15.3M	15.16M	15.04M	15.03M	15.09M	15.02M	15.07M	14.92M	14.68M	14.6M	14.79M	14.69M	11.1M	11.04M

Key Metrics

Growth RegimeAccelerating

ProfitabilityStrong

Balance SheetHealthy

Cash FlowStable

Top Statement Risk

Fee income volatility and NIM compression

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q2)

Net Interest Income Momentum Accelerates

Net interest income grew 9.2% year-over-year in Q2 2026 to $45.6 million, according to the latest quarterly report, marking the fifth consecutive quarter of accelerating growth.

The sequential climb from $36.6 million in Q1 2024 to $45.6 million in Q2 2026 reflects a steady repricing of the residential mortgage portfolio into higher yields. Management's commentary on favorable loan repricing aligns with the data, suggesting asset yields are outpacing deposit costs. This trajectory appears sustainable as long as the low-cost deposit base remains sticky, though investors should monitor deposit beta in a potential rate-cutting cycle.

NIM Expansion Despite Low Absolute Level

Net interest margin improved from 0.6% to 0.7% over the past year, as reported in financial statements, indicating gradual spread widening despite a modest absolute level.

The 10-basis-point improvement in NIM, while small in absolute terms, represents a 16.7% relative increase and underpins the earnings beat. This expansion appears driven by the portfolio lender model, where long-duration mortgages reprice favorably as older, lower-yielding loans mature. The sustainability of this trend hinges on deposit repricing discipline; if deposit costs rise faster than asset yields, the margin gains could reverse.

Efficiency Ratio Shows Operating Leverage

The efficiency ratio improved from 42.5% in Q4 2024 to 37.9% in Q1 2026, based on reported figures, indicating strong cost discipline relative to revenue growth.

The 460-basis-point improvement in efficiency demonstrates that revenue growth is translating into operating leverage, despite the branch-heavy model. The Q2 2026 spike to 97.1% is anomalous, driven by a negative non-interest income figure that appears to be a one-off accounting adjustment rather than a structural cost issue. Excluding that quarter, the trend suggests management is effectively controlling expenses while growing NII.

Minimal Provision Expense Signals Asset Quality

Provision for credit losses averaged just $390,000 per quarter over the last five quarters, as per the income statement data, reflecting a stable credit environment.

The consistently low provision expense, relative to a mortgage-heavy portfolio, suggests minimal credit deterioration in the residential book. This supports the bank's fortress-like balance sheet, but investors should note that CECL assumptions could change if regional real estate values soften. The $351,000 provision in Q2 2026, while slightly elevated, remains immaterial to overall profitability.

Fee Income Volatility Clouds Revenue Mix

Non-interest income swung from $4.9 million in Q1 2026 to negative $38.5 million in Q2 2026, based on the latest quarterly data, creating significant revenue instability.

The negative fee income in Q2 2026 appears to be a one-time event, likely related to a securities loss or accounting adjustment, but it underscores the bank's dependency on NII for stability. Excluding that quarter, fee income has been relatively flat at $4.4-$4.9 million, suggesting the trust department provides a steady but modest contribution. Investors should monitor whether this volatility recurs, as it could mask underlying earnings power.

Q2 2026 Marks Earnings Inflection

Q2 2026 EPS of $0.98 beat consensus by 42%, according to the earnings release, representing the strongest quarterly performance in the provided data.

The EPS surge, driven by a 24.1% year-over-year growth rate, appears to be a culmination of the loan repricing cycle and cost discipline. The beat suggests the bank is entering a phase of accelerated earnings power, but the negative fee income in the same quarter raises questions about earnings quality. If the fee volatility is isolated, the underlying trend remains positive; if not, the beat may be less sustainable than it appears.

Earnings Quality Questioned by Fee Swing

The Q2 2026 negative non-interest income of $38.5 million, as reported in the income statement, may indicate a one-off loss that could distort the apparent earnings acceleration.

The magnitude of the fee income swing, from positive $4.8 million in Q1 2026 to negative $38.5 million in Q2 2026, suggests a significant non-recurring item, possibly a securities portfolio loss or hedging adjustment. This raises concerns about the sustainability of the EPS beat, as the underlying NII growth of 9.2% may not fully compensate for such volatility. Investors should scrutinize the composition of non-interest income in the upcoming quarters to determine if this is an isolated event or a recurring drag on earnings quality.

TRST — Frequently Asked Questions

Quick answers to the most common questions about buying TRST stock.

What was TrustCo Bank Corp NY's (TRST) revenue in 2025?

For fiscal year 2025, TrustCo Bank Corp NY (TRST) reported total revenue of $187.9M. This represents a 98.6% increase compared to $94.6M in 1996.

Is TrustCo Bank Corp NY (TRST) profitable?

TrustCo Bank Corp NY (TRST) is profitable, generating $61.1M in net income for the fiscal year ending 2025 with a net profit margin of 22.0%.

What is TrustCo Bank Corp NY's operating profit margin?

TrustCo Bank Corp NY (TRST) reported an operating income of $81.2M, resulting in an operating profit margin of 29.2%. This margin reflects the operational efficiency of the business before interest and taxes.

What is TrustCo Bank Corp NY's gross profit and gross margin?

TrustCo Bank Corp NY (TRST) generated $186.7M in gross profit for the year, representing a gross profit margin of 67.1%. This demonstrates the company's core pricing power and production efficiency.