Reported Q: Q1 2025 Rev YoY: +5.0% EPS YoY: +17.2% Move: -0.34%
TrustCo Bank Corp NY
TRST
$45.07 -0.34%
Exchange NASDAQ Sector Financial Services Industry Banks Regional
Q1 2025
Published: Mar 31, 2025

Company Status Snapshot

Fast view of the latest quarter outcome for TRST

Reported

Report Date

Mar 31, 2025

Quarter Q1 2025

Revenue

67.76M

YoY: +5.0%

EPS

0.75

YoY: +17.2%

Market Move

-0.34%

Previous quarter: Q4 2024

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Earnings Highlights

  • Revenue of $67.76M up 5% year-over-year
  • EPS of $0.75 increased by 17.2% from previous year
  • Net income of 14.28M
  • "We are very pleased to report that 2025 is off to a strong start. Every category deposits is up with low cost core and business accounts, including cannabis accounts making significant contributions." - Robert J. McCormick
TRST
Company TRST

Executive Summary

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.

Key Performance Indicators

Revenue
Increasing
67.76M
QoQ: 2 561.55% | YoY: 5.02%
Operating Income
Increasing
18.72M
QoQ: 26.94% | YoY: 9.55%
Net Income
Increasing
14.28M
QoQ: 26.54% | YoY: 17.72%
EPS
Increasing
0.75
QoQ: 27.12% | YoY: 17.19%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 67.76 0.75 +5.0% View
Q4 2024 2.55 0.59 -11.2% View
Q3 2024 2.57 0.68 -94.5% View
Q2 2024 64.86 0.66 +33.3% View
Q1 2024 64.52 0.64 +32.4% View