TrustCo Bank Corp NY delivered a solid start to 2025 (QQ1 2025) with earnings strength supported by expanding net interest income and a favorable margin trajectory. Net income of $14.3 million rose 17.7% year over year, while return on assets (ROA) and return on equity (ROE) jumped to 0.93% and 8.49%, respectively. The bank benefited from deposit growth, a loan book that expanded by 2.1% year over year to roughly $5.1 billion, and a 2.64% net interest margin (NIM) that benefits from a relatively low-cost funding base and an increasing focus on single-network deposit growth funded lending. Wealth management remained a meaningful non-interest income contributor, with assets under management near $1.1 billion as of March 31, 2025, underscoring recurring revenue diversity. Management signaled ongoing capital discipline, announcing a stock repurchase program up to 5% of outstanding shares, to be deployed from a position of strength given a TCE ratio of 10.85%. Despite strong performance, TrustCo emphasizes a prudent approach to expenses and asset quality, noting a very low non-performing loan (NPL) ratio of 0.37% and a modest provision for credit losses of $0.3 million in Q1 2025. The management commentary also highlighted favorable expectations around a potential lower-for-longer rate environment and the resulting opportunity to manage deposit costs more efficiently, supporting continued margin resilience.