TrustCo Bank Corp NY
- Open
- 54.95
- Day high
- 55.82
- Day low
- 54.69
- Prev close
- 54.91
- Volume
- 14K
- Mkt cap
- $977M
- P/E (TTM)
- 16.4
- EPS (TTM)
- $3.40
- P/B
- 1.5
- P/S
- 3.5
- Yield
- 1.36%
- Per share
- $0.76
- ▲Insiders net buying $10K over the last 3 months (2 open-market buys, 0 sales)
- 🏛Institutions mixed (13F)
TrustCo Bank Corp NY (TRST) is a Financial Services company listed on NASDAQ. The stock is up 59% over the past year. Over the trailing 3 months, insiders filed 2 open-market buys and 0 sales (SEC Form 4).
TrustCo Bank Corp NY (TRST) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TRST earnings date, history & EPS estimates
| 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% |
TRST insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 8, 2026 | LUCARELLI LISA Mdirector | Buy | 100 | $52.29 |
| Apr 28, 2026 | Silverman Frank Bdirector | Buy | 105 | $46.18 |
| Mar 12, 2026 | CURLEY KEVIN Mofficer: EXECUTIVE VICE PRESIDENT & COO | Buy | 588 | $42.55 |
| Dec 1, 2025 | LUCARELLI LISA Mdirector | Buy | 200 | $42.69 |
| Nov 24, 2025 | LEONARD ROBERT Mofficer: EVP & CHIEF OPERATING OFFICER | Option | 1,600 | — |
| Nov 24, 2025 | OZIMEK MICHAEL Mofficer: EXECUTIVE VICE PRESIDENT & CFO | Tax | 435 | $41.54 |
| Nov 24, 2025 | CURLEY KEVIN Mofficer: EXECUTIVE VICE PRESIDENT & CBO | Option | 1,107 | — |
| Nov 24, 2025 | CURLEY KEVIN Mofficer: EXECUTIVE VICE PRESIDENT & CBO | Tax | 461 | $41.54 |
| Nov 24, 2025 | LEONARD ROBERT Mofficer: EVP & CHIEF OPERATING OFFICER | Tax | 755 | $41.54 |
| Nov 24, 2025 | MCCORMICK ROBERT Jdirector, officer: CHAIRMAN, PRESIDENT & CEO | Option | 4,184 | — |
| Nov 24, 2025 | HALL MICHAEL JAMESofficer: GENERAL COUNSEL & SECRETARY | Option | 271 | — |
| Nov 24, 2025 | OZIMEK MICHAEL Mofficer: EXECUTIVE VICE PRESIDENT & CFO | Option | 1,107 | — |
| Nov 24, 2025 | MCCORMICK ROBERT Jdirector, officer: CHAIRMAN, PRESIDENT & CEO | Tax | 2,112 | $41.54 |
| Nov 21, 2025 | CURLEY KEVIN Mofficer: EXECUTIVE VICE PRESIDENT & CBO | Option | 1,100 | — |
| Nov 21, 2025 | LEONARD ROBERT Mofficer: EVP & CHIEF OPERATING OFFICER | Option | 1,283 | — |
Source: TRST SEC Form 4 filings, latest Jun 8, 2026. For informational purposes only — not investment advice.
See the full TRST insider & 13F page →TrustCo Bank Corp NY company profile
Overview
TrustCo Bank Corp NY (NASDAQ:TRST) is a regional bank holding company founded in 1902 and headquartered in Glenville, New York. The company operates as the holding company for Trustco Bank, a federal savings bank that has grown from its upstate New York roots to serve customers across five states. With over 120 years of banking experience, TrustCo has established itself as a conservative, relationship-focused community bank that emphasizes traditional banking services while maintaining strong credit quality and capital ratios.
Business
TrustCo Bank Corp operates in the regional banking industry, providing traditional banking services to individuals, partnerships, and corporations across New York, New Jersey, Vermont, Massachusetts, and Florida. The company operates through 147 banking offices and 163 automatic teller machines as of recent reports. The company's core business consists of several key segments. **Retail and commercial banking** represents the primary revenue driver, offering deposit products including checking accounts, savings accounts, and certificates of deposit, alongside various loan products. The **residential mortgage lending** segment focuses heavily on purchase money mortgages and home equity lines of credit, with the bank maintaining a portfolio lending approach rather than selling mortgages to secondary markets. **Commercial lending** provides business loans and lines of credit to small and medium-sized enterprises, though this represents a smaller portion of the overall loan portfolio. Additionally, TrustCo operates a **wealth management and trust services** division that manages approximately $1.3 billion in assets under management. This division provides estate planning, asset management, custodial services, and acts as trustee for employee benefit plans and corporate pension trusts. The company also functions as a **real estate investment trust (REIT)** that acquires, holds, and manages real estate mortgage assets, including residential mortgage loans and mortgage-backed securities. The loan portfolio of approximately $5.1 billion is predominantly composed of residential real estate loans (roughly 85-90% of total loans), with commercial loans, home equity lines of credit, and installment loans making up the remainder. The deposit base of approximately $5.4 billion provides the primary funding source for the bank's lending activities.
Revenue model
TrustCo generates revenue primarily through **net interest income**, which is the difference between interest earned on loans and investments and interest paid on deposits and borrowings. The bank's customers are primarily individual consumers seeking mortgages and banking services, small to medium-sized businesses requiring commercial loans, and affluent individuals utilizing wealth management services. The company's business model centers on **relationship banking**, where they attract deposits from customers in their local markets and deploy those funds into loans, primarily residential mortgages. Unlike many banks that originate mortgages and sell them to government-sponsored enterprises, TrustCo employs a **portfolio lending strategy**, keeping most loans on their balance sheet to generate long-term interest income. Revenue streams include net interest income (the primary source), wealth management fees from their $1.3 billion in assets under management, and various banking service fees. The bank has maintained a conservative approach, avoiding brokered deposits and external borrowings, instead funding growth through customer deposits. Several factors influence TrustCo's profitability margins. **Interest rate environment** significantly impacts net interest margin - rising rates can benefit the bank if they can reprice deposits slower than loan yields adjust, though the opposite occurs in falling rate environments. **Credit quality** directly affects margins through loan loss provisions and charge-offs. **Competition for deposits** in their markets affects funding costs, while **housing market conditions** influence loan demand and credit quality. **Regulatory changes** in banking requirements can impact capital allocation and operational costs. The bank's **efficiency ratio** of approximately 61.5% indicates relatively good cost control, though this could be pressured by technology investments and regulatory compliance costs.
Competitive moat
TrustCo's competitive moat is **moderate but not particularly strong**. The bank benefits from several defensive characteristics typical of well-established community banks. Their **long-standing customer relationships** built over 120+ years provide some customer stickiness, particularly in their core upstate New York markets where they have deep community ties. The bank's **conservative underwriting standards** and focus on residential real estate in stable markets has historically resulted in exceptionally low credit losses, with net charge-offs of just 0.01% of average loans. However, TrustCo faces significant competitive pressures that limit the strength of their moat. **Geographic concentration** in slower-growth northeastern markets constrains expansion opportunities compared to banks in faster-growing regions. The **commoditized nature of basic banking services** means customers can easily switch to competitors offering better rates or more convenient digital services. **Larger regional and national banks** possess superior technology platforms, broader product offerings, and greater marketing resources. The bank's **limited scale** compared to larger regional competitors restricts their ability to invest heavily in technology and digital banking capabilities that increasingly drive customer acquisition and retention. **Fintech disruption** poses ongoing threats to traditional banking relationships, particularly among younger demographics. While TrustCo's wealth management division provides some differentiation, it operates in a highly competitive market with numerous larger, more sophisticated competitors. The company's moat is primarily defensive rather than offensive - their conservative approach and strong capital position help them weather economic downturns better than more aggressive competitors, but this same conservatism limits their growth potential and competitive positioning in expanding markets.
Risks & safety
TrustCo demonstrates a **strong margin of safety** from a financial stability perspective, though growth prospects remain limited. **Liquidity and Solvency:** - Strong capital position with 10.84% equity-to-assets ratio, well above regulatory minimums - No external debt, funding operations entirely through customer deposits - $47.4 million in cash and short-term investments provides adequate liquidity buffer - Deposit base of $5.4 billion provides stable funding source **Valuation Metrics:** - Price-to-earnings ratio of 14.0x appears reasonable for a regional bank - Price-to-book ratio of 0.94x suggests trading below tangible book value - Return on equity of 7.5% is modest but sustainable - Dividend yield supported by consistent earnings **Credit Quality:** - Exceptionally low non-performing loans at 0.37% of total loans - Minimal net charge-offs (0.01% of average loans) - Conservative underwriting standards maintained through economic cycles - Geographic concentration in stable northeastern housing markets **Other Considerations:** - Efficiency ratio of 61.5% indicates reasonable cost control - Limited growth opportunities may constrain future earnings expansion - Interest rate sensitivity could pressure margins in changing rate environment
Recent development
Over the past few years, TrustCo has pursued several strategic initiatives while maintaining its conservative banking approach. The bank has **significantly expanded its home equity lending business**, with home equity lines of credit growing 17.9% year-over-year in 2024, representing one of their fastest-growing loan categories. This growth has been driven by both existing customers and new customer acquisition, with the bank offering competitive rates and up to 90% loan-to-value ratios for existing mortgage customers. The company has made **selective expansions in commercial lending**, growing this portfolio by 4.3% in 2024, though management remains cautious about rapid expansion. They have indicated potential to gradually increase commercial loans by $300-$325 million over the long term while maintaining conservative underwriting standards. **Technology investments** have been a consistent theme, with management emphasizing continued investment in digital banking capabilities and customer experience enhancements across all business lines. The bank has also **explored new market opportunities**, including entry into cannabis industry banking services, offering deposit services to retail operators in states with active cannabis markets, particularly New York and Massachusetts. **Branch optimization** efforts have continued, with TrustCo closing underperforming locations while considering expansion opportunities in attractive markets. The bank has maintained its **wealth management focus**, with assets under management reaching approximately $1.3 billion, supported by strong team performance and proactive fee management. Management has also **reauthorized share buyback programs** and increased dividend payments, demonstrating commitment to returning capital to shareholders while maintaining strong capital ratios for future opportunities.
TRST company profile · for informational purposes only — not investment advice.
Track TRST with Drillr
SEC filings, earnings calls, insider activity, alt-data signals — all queryable through Drillr's AI terminal and MCP API.
Try Drillr for free