TrustCo Reports Q1 2024 Net Income of $12.1 Million, Down From $17.7 Million a Year Earlier
TrustCo Bank Corp NY reported first quarter 2024 net income of $12.1 million, or $0.64 per diluted share, compared with $17.7 million, or $0.93 per diluted share, in the first quarter of 2023. Net income rose from $9.8 million in the fourth quarter of 2023, while net interest income fell 5.3% from the prior quarter, and average loans grew 5.2% year over year.
Key points
- Net income was $12.1 million ($0.64 diluted EPS) versus $17.7 million ($0.93) in Q1 2023 and $9.8 million ($0.52) in Q4 2023.
- Net interest income was $36.6 million, down $2.0 million or 5.3% from the prior quarter, with net interest margin at 2.44% versus 2.60% in Q4 2023.
- Average loans rose $249.4 million or 5.2% year over year; nonperforming loans were $18.3 million, or 0.37% of total loans, at March 31, 2024.
- Book value per share was $34.12 at March 31, 2024, up from $33.92 at December 31, 2023.
The filing
Written by AI on Nov 8, 2026, 6:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 22, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.