TrustCo Bank NY (TRST) investor relations material

Executive summary

• Q3 net income was $17.318 million, up 6.5% YoY; diluted EPS rose 18.6% to $1.02 from $0.86.

• Loan repricing and growth, deposit growth, and lower funding costs lifted net interest income and margin.

• Management cited a resilient balance sheet and optimism for continued positive momentum into 2027.

Financial highlights

• Q3 net interest income rose 9.1% to $47.0 million; interest income was $69.6 million and interest expense $22.6 million.

• Q3 provision for credit losses was $850,000; noninterest income was $4.8 million and noninterest expense was $28.0 million.

• Nine-month net income increased to $50.568 million from $45.572 million; net interest income rose to $137.337 million from $125.238 million.

• Nine-month noninterest income increased $1.1 million to $15.6 million; noninterest expenses rose $4.5 million to $83.3 million.

Outlook and guidance

• Management expects loan and investment repricing, liquidity, and continued loan growth to support earnings; it expressed optimism about momentum into 2027.

• 2026 recurring noninterest expense, net of ORE expense, is expected at $27.8 million-$28.2 million per quarter; anticipated ORE expense is capped at $200,000 quarterly.

• Management cited market volatility tied to inflation, tariffs, geopolitical conflict, and potential Federal Reserve rate changes; these may affect results, deposit costs, and margins.

• Long-term balance-sheet growth is expected to be profitable, but growth may be limited or the balance sheet reduced if conditions warrant; liquidity is considered adequate for obligations and commitments.