TrustCo Bank (TRST) Reports Q4 EPS of $0.85 with 11.2% Revenue Growth
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: seekingalpha
- Earnings Highlights: TrustCo Bank reported a Q4 GAAP EPS of $0.85, indicating robust profitability and reflecting the company's strong financial health in a competitive market.
- Revenue Growth: The bank's revenue reached $48.16 million in Q4, marking an 11.2% year-over-year increase, primarily driven by effective business expansion and an increasing customer base, further solidifying its market position.
- Net Interest Margin Improvement: The net interest margin rose from 2.60% to 2.82%, an increase of 22 basis points, demonstrating TrustCo's effectiveness in asset-liability management and enhancing its profitability.
- Return on Assets Enhancement: The return on average assets improved to 0.97%, up 32.9% from 0.73%, showcasing significant improvements in resource allocation and profitability, thereby boosting investor confidence.
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About TRST
TrustCo Bank Corp NY is a savings and loan holding company. The Company operates, through its principal subsidiary, Trustco Bank (the Bank). The Bank is a federal savings bank engaged in providing general banking services to individuals and businesses. The Bank provides a wide range of both personal and business banking services, including a full array of deposit products for both individuals and businesses. The Bank also offers trust and investment services through its Financial Services Department. Trustco Financial Services, the name under which the Bank’s trust department operates, serves as executor of estates and trustee of personal trusts, provides asset and wealth management services, provides estate planning and related advice, provides custodial services, and acts as trustee for various types of employee benefit plans and corporate pension and profit-sharing trusts. The Bank operates about 154 automatic teller machines and 136 banking offices.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
