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    Trustco Bank N Y (TRST)

    Market Price (8/8/2026): $55.05 | Market Cap: $980.6 MilSector: Financials | Industry: Regional Banks

    Trustco Bank N Y (TRST)

    Market Price (8/8/2026): $55.05
    Market Cap: $980.6 Mil
    Sector: Financials
    Industry: Regional Banks

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.2%, Dividend Yield is 2.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.9%, FCF Yield is 6.0%

    Cash is significant % of market cap
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -12%

    Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31%

    Low stock price volatility
    Vol 12M is 25%

    Megatrend and thematic drivers
    Megatrends include Local Financial Services. Themes include Community Lending, Mortgage Origination, and Deposit Management.

    Trading close to highs
    Dist 52W High is -4.7%, Dist 3Y High is -4.7%

    Weak revenue growth
    Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.9%

    Key risks
    TRST key risks include [1] a muted growth outlook, Show more.

    0 Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.2%, Dividend Yield is 2.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.9%, FCF Yield is 6.0%
    1 Cash is significant % of market cap
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -12%
    2 Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31%
    3 Low stock price volatility
    Vol 12M is 25%
    4 Megatrend and thematic drivers
    Megatrends include Local Financial Services. Themes include Community Lending, Mortgage Origination, and Deposit Management.
    5 Trading close to highs
    Dist 52W High is -4.7%, Dist 3Y High is -4.7%
    6 Weak revenue growth
    Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.9%
    7 Key risks
    TRST key risks include [1] a muted growth outlook, Show more.

    TRST in ETFs

    Weight = TRST's share of each fund

    ITOT0.00%
    IWM0.03%
    IJR0.05%
    KRE0.18%
    AVUV0.10%
    SLYV0.06%
    IJS0.06%
    IWN0.06%
    +9 more covered ETFs

    Valuation & Metrics

    null
    TRSTS&P 500
    REVENUE GROWTH 
    Rev LTM ($ Bil)0.2
    Rev Chg Q9.3%9.4%
    Rev Chg LTM9.3%8.1%
    Rev Chg 3Y Avg-1.9%5.9%
    PROFITABILITYVERY GOOD
    Op Inc LTM ($ Bil)�
    CFO LTM ($ Bil)0.1
    Net Inc LTM ($ Bil)0.1
    CFO/Rev LTM35.5%21.9%
    Net Inc Mgn32.9%13.1%
    VALUATIONMODERATE
    P/S5.13.3
    P/CFO14.415.9
    P/FCF16.620.3
    P/E15.523.7

    AI Analysis | Feedback

    MetricValueDateSource
    Number of Banking Offices1369302025Link
    Assets Under Management (Wealth Management)1.25 billion9302025Link
    Number of Employees7339302025Link
    Net Interest Margin2.79%9302025Link
    Efficiency Ratio54.89%9302025Link
    Number of ATMs1564012024Link
    Loans to Deposits Ratio94%11102025Link

    Price Chart

    Recent
    7/21/2026Earnings ReleaseRev: $50 Mil (A) vs. $null (E)
    EPS: 0.98 (A) vs. $- (E)
    Upcoming
    10/20/2026Earnings ReleaseRev: -
    EPS: -

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 8/1/2026

    Trustco Bank N Y (TRST) stock has gained about 15% since 4/30/2026 because of the following key factors:

    1. Trustco Bank N Y (TRST) experienced robust financial growth in fiscal Q2 2026, which ended on June 30, 2026. The company reported a 12.8% year-over-year increase in net income, reaching $17 million. Basic earnings per share (EPS) for fiscal Q2 2026 rose to $0.98, up from $0.79 in the same period a year prior. Additionally, net interest income increased by 9.2% to $45.6 million, and the net interest margin expanded to 2.87% as loan and investment repricing positively impacted the bank.

    2. The company demonstrated solid operational expansion with significant loan and deposit growth. Average loans reached an all-time high of $5.3 billion in fiscal Q2 2026, reflecting a 3.8% increase year-over-year. Total deposits also grew to $5.7 billion, an increase of $191 million year-over-year, indicating strong customer confidence and supporting the loan growth.

    Show more
    Updated on 8/1/2026

    Trustco Bank N Y (TRST) stock has gained about 15% since 4/30/2026 because of the following key factors:

    1. Trustco Bank N Y (TRST) experienced robust financial growth in fiscal Q2 2026, which ended on June 30, 2026. The company reported a 12.8% year-over-year increase in net income, reaching $17 million. Basic earnings per share (EPS) for fiscal Q2 2026 rose to $0.98, up from $0.79 in the same period a year prior. Additionally, net interest income increased by 9.2% to $45.6 million, and the net interest margin expanded to 2.87% as loan and investment repricing positively impacted the bank.

    2. The company demonstrated solid operational expansion with significant loan and deposit growth. Average loans reached an all-time high of $5.3 billion in fiscal Q2 2026, reflecting a 3.8% increase year-over-year. Total deposits also grew to $5.7 billion, an increase of $191 million year-over-year, indicating strong customer confidence and supporting the loan growth.

    3. Proactive capital management and consistent shareholder returns further bolstered investor confidence. TrustCo Bank has been actively repurchasing its common stock, with 10.5% of outstanding common stock repurchased under the 2025 and 2026 programs, including over 1 million shares acquired in 2026. This commitment to returning capital to shareholders was complemented by the declaration of a quarterly dividend of $0.38 per share on May 20, 2026, maintaining an uninterrupted dividend record.

    4. Investor engagement regarding potential value enhancement contributed to the positive sentiment. On July 28, 2026, HoldCo Advisors, LP announced that it had engaged in discussions with TrustCo Bank's management and Board of Directors regarding opportunities to enhance shareholder value, suggesting potential for strategic initiatives benefiting investors.

    Show less
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    Stock Movement Drivers

    Fundamental Drivers

    The 16.6% change in TRST stock from 4/30/2026 to 8/7/2026 was primarily driven by a 10.0% change in the company's P/E Multiple.
    (LTM values as of)43020268072026Change
    Stock Price ($)47.2655.0916.6%
    Change Contribution By: 
    Total Revenues ($ Mil)1881922.2%
    Net Income Margin (%)32.5%32.9%1.0%
    P/E Multiple14.115.510.0%
    Shares Outstanding (Mil)18182.6%
    Cumulative Contribution16.6%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    4/30/2026 to 8/7/2026
    ReturnCorrelation
    TRST16.6% 
    Market (SPY)7.6%16.9%
    Sector (XLF)10.5%45.2%

    Fundamental Drivers

    The 29.0% change in TRST stock from 1/31/2026 to 8/7/2026 was primarily driven by a 10.3% change in the company's P/E Multiple.
    (LTM values as of)13120268072026Change
    Stock Price ($)42.7255.0929.0%
    Change Contribution By: 
    Total Revenues ($ Mil)1831924.9%
    Net Income Margin (%)31.1%32.9%5.8%
    P/E Multiple14.115.510.3%
    Shares Outstanding (Mil)19185.3%
    Cumulative Contribution29.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    1/31/2026 to 8/7/2026
    ReturnCorrelation
    TRST29.0% 
    Market (SPY)12.1%16.1%
    Sector (XLF)8.3%42.2%

    Fundamental Drivers

    The 69.8% change in TRST stock from 7/31/2025 to 8/7/2026 was primarily driven by a 28.4% change in the company's P/E Multiple.
    (LTM values as of)73120258072026Change
    Stock Price ($)32.4455.0969.8%
    Change Contribution By: 
    Total Revenues ($ Mil)1761929.3%
    Net Income Margin (%)29.0%32.9%13.3%
    P/E Multiple12.115.528.4%
    Shares Outstanding (Mil)19186.8%
    Cumulative Contribution69.8%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    7/31/2025 to 8/7/2026
    ReturnCorrelation
    TRST69.8% 
    Market (SPY)23.4%26.1%
    Sector (XLF)11.3%47.6%

    Fundamental Drivers

    The 106.5% change in TRST stock from 7/31/2023 to 8/7/2026 was primarily driven by a 132.3% change in the company's P/E Multiple.
    (LTM values as of)73120238072026Change
    Stock Price ($)26.6855.09106.5%
    Change Contribution By: 
    Total Revenues ($ Mil)206192-6.6%
    Net Income Margin (%)36.9%32.9%-10.9%
    P/E Multiple6.715.5132.3%
    Shares Outstanding (Mil)19186.8%
    Cumulative Contribution106.5%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    7/31/2023 to 8/7/2026
    ReturnCorrelation
    TRST106.5% 
    Market (SPY)74.9%39.9%
    Sector (XLF)70.4%57.7%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    TRST Return4%18%-13%12%29%38%113%
    Peers Return16%-19%25%0%49%20%109%
    S&P 500 Return27%-19%24%23%16%13%105%

    Monthly Win Rates [3]
    TRST Win Rate50%50%42%42%58%75% 
    Peers Win Rate33%50%54%46%69%64% 
    S&P 500 Win Rate75%42%67%75%67%50% 

    Max Drawdowns [4]
    TRST Max Drawdown-22%-15%-34%-16%-19%-8% 
    Peers Max Drawdown-16%-31%-31%-26%-21%-20% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: NEWT, ATLO, FCBM, CBC, NU.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 8/7/2026 (YTD)

    How Low Can It Go

    EventTRSTS&P 500
    2025 US Tariff Shock
      % Loss-16.3%-18.8%
      % Gain to Breakeven19.5%23.1%
      Time to Breakeven76 days79 days
    Summer-Fall 2023 Five Percent Yield Shock
      % Loss-16.3%-9.5%
      % Gain to Breakeven19.4%10.5%
      Time to Breakeven44 days24 days
    2023 SVB Regional Banking Crisis
      % Loss-25.3%-6.7%
      % Gain to Breakeven33.8%7.1%
      Time to Breakeven434 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-10.2%-24.5%
      % Gain to Breakeven11.3%32.4%
      Time to Breakeven41 days427 days
    2020 COVID-19 Crash
      % Loss-41.9%-33.7%
      % Gain to Breakeven72.1%50.9%
      Time to Breakeven350 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-21.6%-19.2%
      % Gain to Breakeven27.6%23.8%
      Time to Breakeven63 days105 days

    Compare to NEWT, ATLO, FCBM, HAPN, CBC

    In The Past

    Trustco Bank N Y's stock fell -16.3% during the 2025 US Tariff Shock. Such a loss loss requires a 19.5% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    EventTRSTS&P 500
    2023 SVB Regional Banking Crisis
      % Loss-25.3%-6.7%
      % Gain to Breakeven33.8%7.1%
      Time to Breakeven434 days31 days
    2020 COVID-19 Crash
      % Loss-41.9%-33.7%
      % Gain to Breakeven72.1%50.9%
      Time to Breakeven350 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-21.6%-19.2%
      % Gain to Breakeven27.6%23.8%
      Time to Breakeven63 days105 days
    2014-2016 Oil Price Collapse
      % Loss-20.7%-6.8%
      % Gain to Breakeven26.2%7.3%
      Time to Breakeven92 days15 days
    2010 Eurozone Sovereign Debt Crisis / Flash Crash
      % Loss-21.4%-15.4%
      % Gain to Breakeven27.2%18.2%
      Time to Breakeven154 days125 days
    2008-2009 Global Financial Crisis
      % Loss-50.7%-53.4%
      % Gain to Breakeven102.9%114.4%
      Time to Breakeven2724 days1085 days

    Compare to NEWT, ATLO, FCBM, HAPN, CBC

    In The Past

    Trustco Bank N Y's stock fell -16.3% during the 2025 US Tariff Shock. Such a loss loss requires a 19.5% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Trustco Bank N Y (TRST)

    TrustCo Bank Corp NY (TRST) operates as the holding company for Trustco Bank, a federal savings bank. Its primary business involves providing a comprehensive suite of personal and business banking services to individuals, partnerships, and corporations. Key offerings include accepting various types of deposits and originating a range of loans. The bank serves customers through a network of banking offices and ATMs located across New York, New Jersey, Vermont, Massachusetts, and Florida.

    Beyond traditional banking, TrustCo also functions as a real estate investment trust (REIT), engaging in the acquisition, holding, and management of real estate mortgage assets, such as residential mortgage loans and mortgage-backed securities. Additionally, the company provides extensive trust and wealth management services. These services encompass acting as an executor of estates, trustee of personal trusts, offering asset and wealth management, estate planning advice, and custodial services. TrustCo also serves as a trustee for various employee benefit plans and corporate pension and profit-sharing trusts, catering to a diverse set of financial and asset management needs.

    AI Analysis | Feedback

    Here are 1-2 brief analogies for Trustco Bank N Y (TRST):

    • It's like a regional KeyBank, but with a stronger specialization in residential mortgages and wealth management.
    • Imagine a smaller, multi-state Wells Fargo, known for its personal and business banking, but with a deeper focus on trusts and mortgage investments.

    AI Analysis | Feedback

    • Deposit Services: Trustco Bank accepts various types of deposits from individuals, partnerships, and corporations.
    • Loan Services: The bank offers personal loans, business loans, and residential mortgage loans to its customers.
    • Wealth Management & Advisory Services: Trustco Bank provides asset and wealth management, estate planning and related advice, and custodial services.
    • Trust Services: The company serves as the executor of estates, trustee of personal trusts, and trustee for various employee benefit and corporate pension plans.

    AI Analysis | Feedback

    ```html

    Trustco Bank N Y (TRST) primarily serves the following categories of customers:

    • Individuals: For personal banking services, residential mortgage loans, wealth management, estate planning, and trust services.
    • Partnerships: For business banking services, loans, and investments.
    • Corporations: For business banking services, loans, investments, and corporate trust services (e.g., employee benefit plans, pension, and profit-sharing trusts).
    ```

    AI Analysis | Feedback

    null

    AI Analysis | Feedback

    Robert J. McCormick Chairman, President, and Chief Executive Officer

    Robert J. McCormick joined Trustco Bank in 1995. He has served as President and Chief Executive Officer of TrustCo Bank Corp NY since January 2004 and Chief Executive Officer of Trustco Bank since November 2002. He has also held the position of Chairman at TrustCo at various times, including from 2009 to 2010 and from 2019 to the present. His background focuses on his long tenure and leadership within Trustco Bank.

    Michael M. Ozimek Executive Vice President and Chief Financial Officer

    Michael M. Ozimek joined Trustco Bank in 2002. He was appointed Senior Vice President and Chief Financial Officer of TrustCo Bank Corp NY and Trustco Bank in December 2014, and subsequently promoted to Executive Vice President and Chief Financial Officer in 2018. Prior to joining Trustco, Mr. Ozimek worked at KPMG LLP, an audit, tax, and advisory firm.

    Robert M. Leonard Executive Vice President and Chief Operating Officer

    Robert M. Leonard began his career with Trustco Bank in 1986. He has held various positions within the company, including Senior Vice President and Chief Risk Officer since 2016 and Executive Vice President Corporate Services and Risk since 2013. In July 2024, he was appointed Chief Operating Officer of TrustCo Bank Corp NY and Trustco Bank.

    Kevin M. Curley Executive Vice President and Chief Banking Officer

    Kevin M. Curley joined Trustco Bank in 1990 and has served in numerous roles throughout his tenure. He was promoted to Executive Vice President in December 2018 and, in July 2024, was named Chief Banking Officer. He previously served as Head of Retail Banking, a role he assumed in 2022.

    Michael Hall General Counsel and Corporate Secretary

    Michael Hall joined Trustco Bank in 2015, having previously served as one of the bank's outside attorneys. He became General Counsel and Corporate Secretary of TrustCo Bank Corp NY and Trustco Bank in 2018. In July 2024, he formally assumed responsibility for Investor Relations.

    AI Analysis | Feedback

    Trustco Bank N Y (TRST) faces several key risks to its business operations and financial performance.

    1. Regulatory and Compliance Risks, Including ESG Scrutiny: Trustco Bank is navigating a landscape of heightened environmental, social, and governance (ESG) scrutiny from various stakeholders, leading to increased compliance costs. Any misalignment with emerging regulations or stakeholder expectations could damage the bank's reputation, hinder partnerships, and negatively affect its stock value. This follows a history of regulatory challenges, including a 2016 order from the federal Office of the Comptroller of the Currency (OCC) for Trustco to enhance internal controls and review its loan portfolio due to past consumer banking law violations, which incurred ongoing costs and oversight.

    2. Interest Rate Risk and Macroeconomic Conditions: As a financial institution, Trustco Bank is significantly exposed to fluctuations in interest rates, inflation, and broader economic conditions. Changes in monetary and fiscal policies, including those by the Federal Reserve, directly impact the bank's operations, liquidity, capital position, and the financial health of its borrowers and customers. Given that a substantial portion of Trustco's loan portfolio consists of residential mortgage loans, its performance is particularly sensitive to housing market trends, interest rates, and employment levels.

    3. Muted Growth Outlook and Competition: Despite recent profitability gains, analysts project flat revenues and limited prospects for significant earnings expansion for Trustco Bank. The company aims to maintain its focus on loan growth and competitive deposit offerings and is exploring expansion opportunities, such as in Pasco County, Florida. However, the regional banking sector remains highly competitive, posing a continuous challenge to achieving substantial growth.

    AI Analysis | Feedback

    • Digital-first banks and neobanks: These entities leverage technology to offer banking services with significantly lower overhead than traditional branch-based banks, often leading to better rates, lower fees, and superior mobile and online user experiences. They are actively competing for deposits and basic banking services, attracting customers who prioritize convenience and digital access.
    • Online lenders and specialized digital mortgage platforms: Companies focused solely on online lending have streamlined the loan application and approval process, particularly for mortgages. They often offer faster services and competitive rates, siphoning off a significant portion of the lending market from traditional banks.
    • Robo-advisors and digital wealth management platforms: For Trustco Bank's asset and wealth management, estate planning, and trust services, these platforms provide automated, lower-cost investment advice and portfolio management. They appeal to clients seeking efficient, transparent, and digitally accessible financial guidance, challenging traditional, human-centric advisory models.

    AI Analysis | Feedback

    Trustco Bank N Y (symbol: TRST) operates in several key financial service markets across New York, New Jersey, Vermont, Massachusetts, and Florida. While specific market sizes for these individual states are not readily available across all product categories, the addressable markets for its main products and services can be estimated at the U.S. level. The main addressable markets for Trustco Bank's offerings include: * Retail Banking Services: The U.S. retail banking market generated an estimated revenue of USD 454.3 billion in 2024 and is projected to grow to USD 678.3 billion by 2033. * Commercial Banking Services: The United States Commercial Banking Market was valued at approximately USD 222.5 billion in 2023 and is anticipated to reach USD 320.5 billion by 2033. * Residential Mortgage Loans: The U.S. home mortgage market size was approximately USD 180.91 billion in 2023 and is projected to grow to about USD 501.67 billion by 2032. Mortgage originations in the U.S. totaled USD 1.69 trillion in 2024. * Wealth Management and Trust Services: The United States Private Banking Market, which includes wealth management, is valued at approximately USD 110–115 billion. This market is projected to increase from US$132.7 billion in 2026 to US$235.3 billion by 2033. The broader U.S. trust and corporate service market is estimated at US$2.2 billion in 2024.

    AI Analysis | Feedback

    Here are the expected drivers of future revenue growth for Trustco Bank N Y (TRST) over the next 2-3 years:

    1. Sustained Growth in Loan Portfolio, particularly Residential Mortgages and Home Equity: Trustco Bank has consistently demonstrated loan growth, with a strong focus on its residential real estate portfolio and home equity lines of credit. Management commentary and financial reports indicate continued increases in these lending categories, which are expected to drive net interest income. For example, average loans rose 3.8% year-over-year to $5 billion in Q2 2024, led by residential real estate and home equity lines. Similarly, in Q4 2023, total loans increased by $43 million quarterly and $270 million year-over-year, primarily driven by residential and home equity products.
    2. Net Interest Margin (NIM) Expansion and Effective Asset-Liability Management: After facing industry-wide margin compression, Trustco Bank's management anticipates that its net interest margin will trough in 2024 and gradually recover. This recovery is expected to be driven by time deposits rolling off and asset yields repricing, alongside disciplined deposit cost control. The bank has already shown an improving trend, with its net interest margin increasing in consecutive quarters in 2024, reaching 2.61% in Q3 2024, up from 2.53% in Q2 2024. The net interest margin for Q4 2025 was 2.82%, up 22 basis points from the prior year quarter.
    3. Strategic Geographic Expansion and Deposit Growth in Targeted Markets: Trustco Bank is focused on deepening its presence within its established regional markets, with a particular emphasis on expansion in Central and West Florida metros such as Orlando and Tampa. The bank plans to open 2-3 new branches per year through 2026, aiming for 5-7 net new Florida branches by year-end 2026. This expansion strategy, coupled with competitive product offerings and aggressive marketing, is designed to attract new customer bases and grow deposits, thereby supporting further loan growth.
    4. Expansion of Wealth Management Services and Digital Offerings: Trustco Bank aims to diversify its revenue streams by expanding its wealth management and trust services. The bank has demonstrated growth in assets under management within its wealth management segment, with fees increasing significantly. Additionally, strategic investments in digital transformation, including online banking accessibility and a digital mortgage portal, are expected to enhance customer experience, improve retention, and boost origination fees and efficiency, contributing to overall revenue growth.

    AI Analysis | Feedback

    Capital Allocation Decisions (Last 3-5 Years) for Trustco Bank N Y (TRST)

    Share Repurchases

    • TrustCo Bank Corp NY's Board of Directors approved a new stock repurchase program in December 2025, authorizing the repurchase of up to 2 million shares, or approximately 11% of its outstanding common stock, to be executed over the next twelve months.
    • During 2025, TrustCo repurchased 1 million shares, representing 5.3% of its common stock, under a previously authorized program that was completed in December 2025.
    • In the fourth quarter of 2025, TrustCo repurchased 533,000 shares of common stock.

    Share Issuance

    • The number of outstanding shares for TrustCo Bank slightly decreased from 19.21 million in 2021 to 18.75 million in 2025, indicating a net reduction in shares.

    Capital Expenditures

    • In the third quarter of 2025, TrustCo Bank Corp NY invested $2.8 million in capital expenditures.
    • This Q3 2025 capital expenditure represented a 32.8% increase from the prior quarter.
    • The primary focus of these capital expenditures was to fund long-term assets and infrastructure.

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    Peer Comparisons

    Peers to compare with:

    Financials

    TRSTNEWTATLOFCBMCBCNUMedian
    NameTrustco .NewtekOneAmes Nat.First Ca.Central .Nu  
    Mkt Price55.0913.5331.2512.4933.5113.8422.55
    Mkt Cap1.00.40.3-402.667.21.0
    Rev LTM19227270-1,00011,915272
    Op Inc LTM-------
    FCF LTM59-77622-45786859
    FCF 3Y Avg50-34817--1,71234
    CFO LTM68-77623-4911,20168
    CFO 3Y Avg58-34819--1,95238

    Growth & Margins

    TRSTNEWTATLOFCBMCBCNUMedian
    NameTrustco .NewtekOneAmes Nat.First Ca.Central .Nu  
    Rev Chg LTM9.3%10.5%21.7%--39.5%16.1%
    Rev Chg 3Y Avg-1.9%32.1%5.4%--51.8%18.8%
    Rev Chg Q9.3%8.0%17.8%--57.2%13.5%
    QoQ Delta Rev Chg LTM2.2%1.9%4.1%--12.1%3.2%
    Op Inc Chg LTM-------
    Op Inc Chg 3Y Avg-------
    Op Mgn LTM-------
    Op Mgn 3Y Avg-------
    QoQ Delta Op Mgn LTM-------
    CFO/Rev LTM35.5%-285.4%32.5%-49.1%10.1%32.5%
    CFO/Rev 3Y Avg31.7%-134.4%31.4%--22.3%26.8%
    FCF/Rev LTM30.8%-285.4%31.2%-45.7%7.3%30.8%
    FCF/Rev 3Y Avg27.4%-134.5%28.6%--19.6%23.5%

    Valuation

    TRSTNEWTATLOFCBMCBCNUMedian
    NameTrustco .NewtekOneAmes Nat.First Ca.Central .Nu  
    Mkt Cap1.00.40.3-402.667.21.0
    P/S5.11.44.0-402.55.65.1
    P/Op Inc-------
    P/EBIT-------
    P/E15.56.012.8-1,072.721.115.5
    P/CFO14.4-0.512.3-820.556.014.4
    Total Yield9.2%24.4%10.5%-0.1%4.7%9.2%
    Dividend Yield2.8%7.6%2.7%-0.0%0.0%2.7%
    FCF Yield 3Y Avg7.2%-92.0%8.8%--2.6%4.9%
    D/E0.21.40.1-0.00.00.1
    Net D/E-0.10.4-1.7--0.0-0.4-0.1

    Returns

    TRSTNEWTATLOFCBMCBCNUMedian
    NameTrustco .NewtekOneAmes Nat.First Ca.Central .Nu  
    1M Rtn3.1%-3.8%8.4%-1.0%9.6%3.5%3.3%
    3M Rtn13.1%-3.9%10.1%-0.9%23.4%0.3%5.2%
    6M Rtn21.5%0.0%13.7%-0.9%39.4%-20.5%6.9%
    12M Rtn73.3%26.9%75.0%-0.9%85.0%11.5%50.1%
    3Y Rtn105.9%-15.0%83.0%-0.9%151.5%73.2%78.1%
    1M Excs Rtn-1.7%-8.9%4.8%-5.3%4.7%-1.6%-1.6%
    3M Excs Rtn8.8%-5.4%4.5%-6.6%17.2%-8.7%-0.5%
    6M Excs Rtn7.0%-11.2%0.9%-15.0%27.2%-31.8%-5.1%
    12M Excs Rtn50.1%6.3%52.9%-23.1%62.7%-9.0%28.2%
    3Y Excs Rtn35.0%-81.8%8.0%-72.8%75.7%5.3%6.6%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q2
    Period End3/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/2023
    Filing Date5/8/20263/16/202611/7/20258/8/20255/9/20253/14/202511/8/20248/9/20245/9/20243/11/202411/8/20238/8/2023
    Key Financials Quarterly            
    Total Revenue504848474543444341434749
    Net Income161616151411131312101516
    EPS0.910.850.870.790.750.590.680.660.640.520.770.86
    Key Financials TTM            
    Total Revenue TTM192188183179176172172175180190201206
    Net Income TTM636157535149474953597074
    Growth Rates Quarterly            
    Total Revenue Growth9.3%11.2%9.6%7.3%9.5%0.5%-6.8%-10.7%-19.8%-20.2%-10.3%1.4%
    Net Income Growth14.1%38.0%26.3%19.8%17.7%14.6%-12.3%-23.3%-31.7%-52.9%-24.2%-8.4%
    Margins Quarterly            
    Net Income Margin32.9%32.3%34.0%32.3%31.5%26.0%29.5%28.9%29.3%22.9%31.4%33.7%
    Cash & Debt            
    Total Cash269293294315373406433437471502496508
    Total Debt149361361221214013313213844149161
    Net Debt / (Cash)-120-257-159-193-253-365-300-306-333-457-348-347
    Cash Flows Quarterly            
    FCF from Operations12161327114161910181216
    Cash Flows TTM            
    FCF from Operations TTM685855595159635855646980
    Returns to Shareholders Quarterly            
    Dividends777777777777
    Share Repurchases2421125-0-0-0-0-0-0-0-0
    Return on Invested Capital (ROIC) Quarterly            
    ROIC------------
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM------------

    Segment Financials

    Revenue by Segment
    $ Mil20252024202320222021
    Banking188172190199178
    Total188172190199178


    Price Behavior

    Price Behavior
    Market Price$55.09 
    Market Cap ($ Bil)1.0 
    First Trading Date03/26/1990 
    Distance from 52W High-4.7% 
       50 Days200 Days
    DMA Price$54.51$46.02
    DMA Trendupup
    Distance from DMA1.1%19.7%
     3M1YR
    Volatility22.7%25.0%
    Downside Capture24.1920.81
    Upside Capture72.1778.22
    Correlation (SPY)16.5%26.6%
    TRST Betas & Captures as of 7/31/2026

     1M2M3M6M1Y3Y
    Beta0.810.110.280.250.510.72
    Up Beta0.41-1.05-0.59-0.100.620.77
    Down Beta0.970.130.210.110.410.68
    Up Capture117%80%97%66%73%53%
    Bmk +ve Days11223567138427
    Stock +ve Days16314381146385
    Down Capture60%12%19%13%26%84%
    Bmk -ve Days11212859114326
    Stock -ve Days6121944102362

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with TRST
    TRST72.7%24.9%2.14-
    Sector ETF (XLF)12.3%14.6%0.5747.3%
    Equity (SPY)23.3%12.8%1.3625.7%
    Gold (GLD)28.5%28.4%0.87-6.9%
    Commodities (DBC)32.9%19.8%1.32-15.0%
    Real Estate (VNQ)14.2%13.8%0.7236.2%
    Bitcoin (BTCUSD)-44.2%42.9%-1.239.9%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with TRST
    TRST15.2%26.7%0.53-
    Sector ETF (XLF)11.4%18.4%0.4855.2%
    Equity (SPY)13.5%17.2%0.6139.9%
    Gold (GLD)18.6%18.6%0.81-2.7%
    Commodities (DBC)8.2%19.6%0.315.7%
    Real Estate (VNQ)2.3%18.9%0.0244.3%
    Bitcoin (BTCUSD)8.8%53.0%0.3514.5%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with TRST
    TRST9.5%31.1%0.36-
    Sector ETF (XLF)13.6%22.1%0.5667.6%
    Equity (SPY)15.4%17.9%0.7351.8%
    Gold (GLD)12.1%16.2%0.61-2.8%
    Commodities (DBC)7.4%18.0%0.3314.3%
    Real Estate (VNQ)4.8%20.7%0.2052.0%
    Bitcoin (BTCUSD)58.2%66.2%0.9813.8%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date7152026
    Short Interest: Shares Quantity0.8 Mil
    Short Interest: % Change Since 63020266.0%
    Average Daily Volume0.1 Mil
    Days-to-Cover Short Interest9.3 days
    Basic Shares Quantity17.8 Mil
    Short % of Basic Shares4.6%

    Returns Analyses

    Earnings Returns History

    Updated 7/21/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    7/21/20251.3%-1.6%0.3%
    SUMMARY STATS   
    # Positive101
    # Negative010
    Median Positive1.3% 0.3%
    Median Negative -1.6% 
    Max Positive1.3% 0.3%
    Max Negative -1.6% 
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    7/21/20251.3%-1.6%0.3%
    SUMMARY STATS   
    # Positive101
    # Negative010
    Median Positive1.3% 0.3%
    Median Negative -1.6% 
    Max Positive1.3% 0.3%
    Max Negative -1.6% 

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    03/31/202605/08/202610-Q
    12/31/202503/16/202610-K
    09/30/202511/07/202510-Q
    06/30/202508/08/202510-Q
    03/31/202505/09/202510-Q
    12/31/202403/14/202510-K
    09/30/202411/08/202410-Q
    06/30/202408/09/202410-Q
    03/31/202405/09/202410-Q
    12/31/202303/11/202410-K
    09/30/202311/08/202310-Q
    06/30/202308/08/202310-Q
    03/31/202305/09/202310-Q
    12/31/202203/01/202310-K
    09/30/202211/07/202210-Q
    06/30/202208/08/202210-Q
     Collapse to Preview
    Report DateFiling DateFiling
    03/31/202605/08/202610-Q
    12/31/202503/16/202610-K
    09/30/202511/07/202510-Q
    06/30/202508/08/202510-Q
    03/31/202505/09/202510-Q
    12/31/202403/14/202510-K
    09/30/202411/08/202410-Q
    06/30/202408/09/202410-Q
    03/31/202405/09/202410-Q
    12/31/202303/11/202410-K
    09/30/202311/08/202310-Q
    06/30/202308/08/202310-Q
    03/31/202305/09/202310-Q
    12/31/202203/01/202310-K
    09/30/202211/07/202210-Q
    06/30/202208/08/202210-Q
    03/31/202205/06/202210-Q
    12/31/202102/25/202210-K
    09/30/202111/05/202110-Q
    06/30/202108/05/202110-Q
    03/31/202105/07/202110-Q
    12/31/202002/26/202110-K
    09/30/202011/06/202010-Q
    06/30/202008/06/202010-Q
    03/31/202005/08/202010-Q
    12/31/201902/28/202010-K
    09/30/201911/07/201910-Q
    06/30/201908/08/201910-Q

    Insider Activity

    Updated 6/8/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Lucarelli, Lisa M immediate family member 1Buy608202652.291005,2295,229Form
    2Lucarelli, Lisa M immediate family member 2Buy608202652.291005,2295,229Form
    3Silverman, Frank B DirectBuy428202646.181054,849225,913Form
    4Curley, Kevin MEXECUTIVE VICE PRESIDENT & COODirectBuy312202642.5558825,0191,743,869Form
    5Lucarelli, Lisa M DirectBuy1201202542.692008,538127,942Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Lucarelli, Lisa M immediate family member 1Buy608202652.291005,2295,229Form
    2Lucarelli, Lisa M immediate family member 2Buy608202652.291005,2295,229Form
    3Silverman, Frank B DirectBuy428202646.181054,849225,913Form
    4Curley, Kevin MEXECUTIVE VICE PRESIDENT & COODirectBuy312202642.5558825,0191,743,869Form
    5Lucarelli, Lisa M DirectBuy1201202542.692008,538127,942Form
    6Cotugno, Steffani DirectBuy605202531.1575023,36248,999Form

    Investor Activity (13F)

    Updated Aug 8, 2026
    13F holdings as of Mar 31, 2026 (Q1 2026)

    Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    HoldCo Asset Management, LP$38.2 Mil2.8%29Hold13F
    Active Manager
    Active Manager
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    HoldCo Asset Management, LP$38.2 Mil2.8%29Hold13F

    Trustco Bank N Y — Investor Video Playlist

    Industry Resources

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