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TrustCo Bank Corp NY operates as the holding company for Trustco Bank that provides personal and business banking services to individuals and businesses. It accepts deposits; and offers loans and investments. The company also operates as a real estate investment trust that acquires, holds, and manages real estate mortgage assets, including residential mortgage loans and mortgage-backed securities. In addition, it operates as the executor of estates and trustee of personal trusts; provides asset and wealth management, estate planning and related advice, and custodial services; and acts as trustee for various types of employee benefit plans, and corporate pension and profit-sharing trusts. The company operates through banking offices in Albany, Columbia, Dutchess, Greene, Montgomery, Orange, Putnam, Rensselaer, Rockland, Saratoga, Schenectady, Schoharie, Ulster, Warren, Washington, and Westchester counties of New York; Brevard, Charlotte, Flagler, Hillsborough, Indian River, Lake, Manatee, Martin, Orange, Osceola, Palm Beach, Polk, Sarasota, Seminole, and Volusia counties in Florida; Bennington County in Vermont; Berkshire County in Massachusetts; and Bergen County in New Jersey, as well as automatic teller machines. TrustCo Bank Corp NY was founded in 1902 and is headquartered in Glenville, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $188M | - | $61M | $46M | 8.9% | 9.4% | 25.2% |
| 2024 | $172M | - | $49M | $55M | 7.2% | -9.7% | -16.7% |
| 2023 | $190M | - | $59M | $58M | 9.1% | -4.6% | -22.0% |
| 2022 | $199M | - | $75M | $75M | 12.5% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 199.40 | 190.16 | 171.77 | 187.92 |
| Operating Revenue | - | 199.40 | 190.16 | 171.77 | 187.92 |
| Selling General And Administration | - | 51.11 | 57.42 | 54.07 | 54.83 |
| Interest Income | - | 186.60 | 226.21 | 243.32 | 259.42 |
| Interest Expense | - | 6.47 | 54.36 | 91.38 | 90.44 |
| Net Interest Income | - | 180.14 | 171.84 | 151.94 | 168.97 |
| Pretax Income | - | 99.42 | 77.61 | 64.05 | 80.81 |
| Tax Provision | - | 24.18 | 18.97 | 15.21 | 19.68 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 75.23 | 58.65 | 48.83 | 61.14 |
| Net Income From Continuing And Discontinued Operation | - | 75.23 | 58.65 | 48.83 | 61.14 |
| Net Income From Continuing Operation Net Minority Interest | - | 75.23 | 58.65 | 48.83 | 61.14 |
| Net Income | - | 75.23 | 58.65 | 48.83 | 61.14 |
| Net Income Common Stockholders | - | 75.23 | 58.65 | 48.83 | 61.14 |
| Net Income Including Noncontrolling Interests | - | 75.23 | 58.65 | 48.83 | 61.14 |
| Normalized Income | - | 75.23 | 58.65 | 48.83 | 61.14 |
| Diluted NI Availto Com Stockholders | - | 75.23 | 58.65 | 48.83 | 61.14 |
| Basic Average Shares | - | 19.13 | 19.02 | 19.02 | 18.75 |
| Diluted Average Shares | - | 19.13 | 19.02 | 19.04 | 18.79 |
| Reconciled Depreciation | - | 10.55 | 10.79 | 11.44 | 11.46 |
| Gain On Sale Of Security | - | 0 | 0 | 1.38 | 0 |
| General And Administrative Expense | - | 49.06 | 55.54 | 52.26 | 53.25 |
| Other Gand A | 8.38 | - | - | - | - |
| Salaries And Wages | - | 45.90 | 51.24 | 48.15 | 48.74 |
| Insurance And Claims | - | 3.16 | 4.30 | 4.12 | 4.51 |
| Selling And Marketing Expense | - | 2.05 | 1.88 | 1.80 | 1.58 |
| Occupancy And Equipment | - | 24.01 | 25.04 | 25.71 | 26.15 |
| Professional Expense And Contract Services Expense | - | 5.58 | 6.24 | 6.68 | 6.27 |
| Other Non Interest Expense | - | 19.62 | 22.60 | 19.27 | 18.25 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| TrustCo Bank Corp NYthis co. | TRST | $920M | 15.05↑ premium | 1.34 | 8.9% | - |
| Esquire Financial Holdings, Inc. | ESQ | $938M | 18.46 | 3.24 | 17.5% | - |
| Ategrity Specialty Insurance Company Holdings | ASIC | $934M | 12.62 | 1.52 | 12.0% | - |
| Business First Bancshares, Inc. | BFST | $928M | 10.56 | 1.12 | 10.7% | - |
| Five Star Bancorp | FSBC |
| - |
| - |
| - |
| - |
| - |
| $922M |
| 14.97 |
| 2.07 |
| 13.8% |
| - |
| CNB Financial Corporation | CCNE | $918M | 13.89 | 1.13 | 8.1% | - |
| Mercantile Bank Corporation | MBWM | $909M | 10.24 | 1.25 | 12.2% | - |
| Central Pacific Financial Corp. | CPF | $908M | 11.72 | 1.53 | 13.1% | - |
| Hanmi Financial Corporation | HAFC | $907M | 11.92 | 1.14 | 9.6% | - |
| Peer Median | - | 12.27 | 1.39 | 12.1% | - | |