TrustCo Bank Corp NY (TRST) Earnings
TrustCo Bank Corp NY is expected to report next earnings on July 20, 2026 (in NaN days). TRST has beaten EPS estimates in 8 of its last 8 reported quarters (average surprise +14.5% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 22, 2026 | — | $0.91 | — | $50M | — |
| Mar 16, 2026 | — | $0.85 | — | $71M | — |
| Oct 21, 2025 | $0.73 | $0.86 | +17.8% | $48M | +1.1% |
| Jul 21, 2025 | $0.69 | $0.79 | +14.5% | $47M | +0.9% |
| Mar 14, 2025 | — | $0.59 | — | $66M | — |
| Jul 22, 2024 | $0.53 | $0.66 | +24.5% | $43M | +6.0% |
| Mar 11, 2024 | — | $0.52 | — | $63M | — |
| Jul 24, 2023 | $0.85 | $0.86 | +1.2% | $49M | -0.2% |
| Jan 23, 2023 | $0.99 | $1.10 | +11.1% | $54M | +3.1% |
| Jul 21, 2022 | $0.77 | $0.93 | +20.8% | $48M | +4.6% |
| Apr 21, 2022 | $0.69 | $0.89 | +29.0% | $45M | +1.9% |
| Jan 24, 2022 | $0.74 | $0.85 | +14.9% | $45M | +0.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 22, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- 2026 started well with net income over $16 million, improved margin, positive return metrics, and progress in share buyback program. Net income improved due to strategic pricing of time deposit products reducing cost of funds and non-interest income from wealth management department increasing 9% q-o-q. Loan portfolio repricing is having a meaningful impact. - Mike reviewed first quarter financial results: net income increase, net interest income growth, capital remains strong, stock repurchase of 522,000 shares, credit quality consistent with some slight increases in non-performing loans and related ratios, loan growth with home equity lines of credit, residential real estate, and commercial loans increasing, deposits up with strong customer confidence. Net interest income and margin improved, yield on interest earning assets and cost of interest bearing liability changed. - Kevin discussed loan portfolio: average loans grew, growth centered in residential loan portfolio with first mortgage and home equity loans increasing, commercial loans also up, mortgage origination activity improved, rates had fluctuations but competitive mortgage rates offered, positive on loan growth moving forward. Asset quality remained very strong with stable early stage delinquencies, net recovery on charge-offs, non-performing loans and assets had slight increases but allowance for credit losses remained solid.
Guidance
- Continues to believe share repurchases will remain a centerpiece of capital deployment strategy. - Anticipates 2026's total recurring non-interest expense net of ORE expense to be in the range of $26.7 to $27.3 million. - Share repurchase is being done slowly and carefully to not jeopardize capital and liquidity position.
Segment performance
In the first quarter of 2026, Trasco Bancorp had a net income of $16.3 million, an increase of 14.1% over the prior year quarter. Net interest income was $44.7 million for the first quarter of 2026, an increase of $4.3 million or 10.7% compared to the prior year quarter. Average loans for the first quarter of 2026 grew 3.1% to $5.3 billion from $5.1589 billion in the first quarter of 2025, an all-time high. Total deposits ended the quarter at $5.7 billion, up $156 million compared to the prior year quarter. Non-interest income attributable to wealth management and financial services fees represent 44.1% of non-interest income.
Risks & headwinds
- Provision for credit losses increased more than tripled compared to a year ago, with about half due to loan growth and half due to forward-looking component of Moody's forecast with slightly negative economic factors. - Competitive pressure on deposit pricing with consumers pushing for higher CD rates and tough competition from credit unions.
Analyst Q&A
Q: The provision more than tripled compared to a year ago, despite solid portfolio metrics and stable early stage delinquency, and about a more cautious economic outlook. Are you still using the baseline Moody's forecast, or are you doing something else?
A: We are still using the baseline Moody's forecast. About half of the increase in provision is due to loan growth and about half is due to the forward-looking component of the Moody's forecast that has some slightly negative economic factors on the gold floor.
Q: Can you just talk about competitive pressure on deposit pricing, any new entrants or anything changing there?
A: Nothing really new, just consumers are pushing for obviously higher CD rates more than ever before in the career and there are tough competitors from credit unions from a rate perspective as they don't have the same motivation and issues we have.
Q: What's your comfort level in terms of where you'd like to see the tier one common equity ratio settle out as you continue to repurchase shares?
A: We're taking the share repurchase kind of one bite at a time and slower. We're fully committed to share repurchase but certainly not going to jeopardize our capital position or our liquidity position to repurchase shares. We've always been well capitalized and very liquid and wouldn't want to disrupt that. The CET1 ratio is trending down the same way the leverage ratio is trending down as we're putting that capital to work.