TrustCo Bank Q1 net income rises 14% on loan repricing

TrustCo Bank NY

21/04/2026 21:27

Overview

U.S. savings and loan bank's Q1 net income rose 14% yr/yr, driven by loan repricing

Diluted EPS for Q1 increased 21.3% yr/yr

Company repurchased 2.9% of shares in Q1, on pace for 11.1% in 2026

Outlook

TrustCo expects net interest income growth to remain sustainable in coming quarters

Company says ongoing asset repricing and strong liquidity will support future growth

TrustCo plans to complete repurchase of up to 2 mln shares, or 11.1%, in 2026

Result Drivers

ASSET REPRICING & DEPOSIT STRATEGY - Higher net interest income and margin expansion driven by loan repricing at higher yields and disciplined deposit pricing, per management

LOAN & DEPOSIT GROWTH - Steady growth in average loans and deposits, especially in residential mortgages, home equity lines, and time deposits

CREDIT QUALITY & RESERVES - Credit quality metrics remained stable, with modestly higher reserves reflecting a cautious economic outlook

Company press release: ID:nGNX8h2v6V

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.91
Q1 Net Income
$16.29 mln
Q1 Net Interest Income
$44.71 mln
Q1 Credit Loss Provision
$950,000
Q1 Net Interest Margin
2.84%


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(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.)