Overview

* TrustCo Q3 net income rises 26.3% yr/yr to $16.3 mln, driven by higher net interest income

* Net interest income for Q3 increased 11.5% yr/yr to $43.1 mln

* TrustCo repurchased 467,000 shares, 2.5% of total, under stock buyback program

Outlook

* TrustCo Bank expects continued net interest income growth in upcoming quarters

* Company anticipates ongoing asset yield improvement due to loan repricing

* TrustCo Bank maintains strong liquidity to support future growth

Result Drivers

* LOAN REPRICING - Higher yields from loan portfolio repricing contributed to increased net interest income

* LOAN AND DEPOSIT GROWTH - Average loans increased by $125.9 mln and deposits by $251.1 mln, supporting income growth

* CREDIT QUALITY - Improvement in credit quality with a decrease in nonperforming loans

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.86

Q3 Net $16.25

Income mln

Q3 Net $43.11

Interest mln

Income

Q3 $250,000

Credit

Loss

Provisio

n

Q3 Net 2.79%

Interest

Margin

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)