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Trustco Bank Corp NY (TRST)
NASDAQ:TRST
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Earnings Data
Report Date
Jan 21, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
―Last Year’s EPS
0.64Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2018
|% Change Since: -1.66%
|Next Earnings Date:Jul 23, 2018
Earnings Call Sentiment|Positive
The earnings call reflects a generally positive outlook with significant growth in net income, strong loan growth, and stable credit quality. However, there are some challenges with a slight decline in net interest margin and increased noninterest expenses. The expansion into the cannabis industry presents new opportunities for growth.Company Guidance
During the TrustCo Bancorp Q4 2024 earnings call, the company provided several key metrics reflecting their financial health and strategic direction. TrustCo reported a net income of $48.8 million for the year, with a fourth-quarter net income of $11.3 million, marking a 14.6% increase from the previous year. The efficiency ratio was noted at 61.5%, while the return on average equity was nearly 7.5%. The capital ratio stood strong at 10.84%, up from 10.46% the prior year, and the book value per share increased by 4.8% to $35.56. The bank also saw growth in average loans, which rose by 2.1% year-over-year to $5.1 billion, driven by a 17.9% increase in home equity lines of credit. TrustCo emphasized their focus on maintaining credit quality, with nonperforming loans at 0.37% of total loans and net charge-offs at 0.01%. Looking ahead, the bank remains optimistic about real estate opportunities and is expanding into the cannabis industry, leveraging its extensive branch network to support cash-intensive retail outlets.Increase in Net Income and Return on Equity
The company's net income for the fourth quarter of 2024 was $11.3 million, a 14.6% increase over the prior year quarter, with a return on average equity of 6.70%.
Strong Loan Growth
Average loans for the fourth quarter of 2024 grew by 2.1% or $104.9 million, reaching an all-time high of $5.1 billion. Home equity lines of credit increased by 17.9%.
Stable Capital Position
The consolidated equity to assets ratio was 10.84% for the fourth quarter of 2024, up from 10.46% in the fourth quarter of 2023.
Low Nonperforming Loans and Net Charge-offs
Nonperforming loans stood at 0.37% of total loans, while net charge-offs for the quarter amounted to $102,000, showing strong credit quality.
Expansion into Cannabis Industry
The company is offering its services to the cannabis industry, leveraging its extensive branch network to serve cash-intensive retail outlets.
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TRST Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TRST Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 21, 2025 | $32.51 | $31.55 | -2.95% |
| Oct 21, 2024 | $32.26 | $33.14 | +2.73% |
| Jul 22, 2024 | $32.35 | $34.01 | +5.13% |
| Apr 22, 2024 | $25.89 | $26.97 | +4.17% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Trustco Bank Corp NY (TRST) report earnings?
Trustco Bank Corp NY (TRST) is schdueled to report earning on Jan 21, 2025, TBA Not Confirmed.
What is Trustco Bank Corp NY (TRST) earnings time?
Trustco Bank Corp NY (TRST) earnings time is at Jan 21, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TRST EPS forecast?
Currently, no data Available
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