TrustCo Bank Q2 net interest income rises driven by loan repricing

TrustCo Bank NY

21/07/2026 21:13

    

    Overview
  
US savings and loan's Q2 net interest income rose 9.2% yr/yr, driven by loan repricing
Diluted EPS for Q2 climbed 24.1% yr/yr to $0.98
Company repurchased over 1 mln shares in H1, on pace for 3 mln by year-end

    

    Outlook
  
TrustCo expects continued net income and net interest income growth in coming quarters
Co on pace to complete repurchase of 3 mln shares, or 15.8% of common stock, by end-2026

    

    Result Drivers
  
LOAN REPRICING - Co said higher net interest income was driven by ongoing asset repricing in the loan portfolio at higher yields
LOAN AND DEPOSIT GROWTH - Average loans and deposits each rose 3.8% yr/yr, with growth in residential loans, home equity lines, and commercial loans
LOWER FUNDING COSTS - Net interest margin improved as the cost of interest-bearing liabilities decreased compared to the prior year

    
Company press release: ID:nGNX3mMWCw

    

    Key Details
  

            Metric
          

            Beat/Miss
          

            Actual
          

            Consensus Estimate
          
Q2 EPS
 
$0.98
 
Q2 Net Income
 
$16.97 mln
 
Q2 Net Interest Income
 
$45.59 mln
 
Q2 Credit Loss Provision
 
$650,000
 
Q2 Net Interest Margin
 
2.87%
 

    

    Reuters Recommended Reads
  
July 20 - ServisFirst Bancshares Q2 EPS rises 40% on loan growth, higher net interest margin
July 21 - Southern First Bancshares' Q2 profit rises on loan growth and margin expansion
July 21 - KeyCorp Q2 net interest income rises on lower deposit costs

    
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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.)