Every material Form 8-K TrustCo Bank Corp NY filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
TrustCo reported third quarter 2024 net income of $12.9 million, or $0.68 per diluted share, up from $12.6 million in the second quarter but down from $14.7 million, or $0.77 per share, in the third quarter of 2023. Net interest income was $38.7 million, up from $37.8 million in the prior quarter but down from $42.2 million a year earlier, so shareholders see sequential improvement alongside a year-over-year decline.
Net income $12.9 million ($0.68 diluted EPS) vs. $12.6 million ($0.66) in Q2 2024 and $14.7 million ($0.77) in Q3 2023
Net interest income $38.7 million, up from $37.8 million in Q2 2024 and $42.2 million in Q3 2023
Net interest margin 2.61%, up from 2.53% in Q2 2024 and down from 2.85% in Q3 2023
Nine-month net income $37.6 million ($1.97 diluted EPS) vs. $48.9 million ($2.57) for the same period in 2023
TrustCo Bank Corp NY reported second quarter 2024 net income of $12.6 million, or $0.66 per diluted share, compared with $16.4 million, or $0.86 per diluted share, a year earlier, and up from $12.1 million in the first quarter of 2024. Average loans grew 3.8% year over year, and the net interest margin rose to 2.53% from 2.44% in the prior quarter, while net interest income fell from $44.1 million a year earlier. For shareholders, quarterly profit was lower than a year ago but higher than the first quarter.
Net income $12.6 million ($0.66 diluted EPS) for Q2 2024, versus $16.4 million ($0.86) for Q2 2023 and $12.1 million for Q1 2024
Net interest income $37.8 million, up from $36.6 million in Q1 2024 but down from $44.1 million in Q2 2023
Average loans up $182.2 million, or 3.8%, year over year; net interest margin 2.53%, up from 2.44% in Q1 2024
Q2 2024 results include a $1.4 million gain on Visa Class C shares; book value per share was $34.46 at June 30, 2024
TrustCo Bank Corp NY appointed Robert M. Leonard as Chief Operating Officer of the company and its principal subsidiary, Trustco Bank, effective July 16, 2024. Leonard has been Executive Vice President of Corporate Services and Risk since 2013 and has held executive officer roles at the company since 2003. The filing states there have been no material changes to his compensation arrangements.
Robert M. Leonard, age 61, appointed Chief Operating Officer effective July 16, 2024
Previously Executive Vice President Corporate Services and Risk since 2013; joined the company in 1986
Filing reports no material changes to his compensation, which is described in the April 1, 2024 proxy statement
No related party transactions or family relationships requiring disclosure
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.
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.
TrustCo Bank Corp NY disclosed that director Dennis A. DeGennaro resigned from the company's Board and from his director role at its subsidiary Trustco Bank, effective February 28, 2024. The filing states the resignation was not due to any disagreement with the company on its operations, policies or practices, so it does not signal a dispute over company direction.
Dennis A. DeGennaro notified the company of his resignation on February 28, 2024
Resignation covers his director roles at TrustCo Bank Corp NY and Trustco Bank, effective February 28, 2024
The filing states the resignation was not the result of a disagreement with the company
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every TrustCo Bank Corp NY filing is on SEC EDGAR ↗. 8-K briefs of other companies →