Trade TrustCo Bank Corp NY - TRST CFD

TrustCo Bank Corp NY Company profile

About TrustCo Bank Corp NY

TrustCo Bank Corp NY is a savings and loan holding company. The Company's principal subsidiary is Trustco Bank (the Bank). The Bank focuses on providing service to the communities served by its branch-banking network. It operates through community banking segment. The Company operates in the geographical region of Upstate New York with branches also in Florida and the mid-Hudson valley region of New York. The Bank's subsidiary, Trustco Realty Corp., is a real estate investment trust (REIT) formed to acquire, hold and manage real estate mortgage assets, including residential mortgage loans and mortgage-backed securities. The Bank's trust department operates under the name, Trustco Financial Services, and serves as executor of estates and trustee of personal trusts, provides asset and wealth management services, and provides estate planning and related advice, provides custodial services.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, TrustCo Bank Corp NY interest income decreased 6% to $168M. Net interest income after loan loss provision increased 12% to $165.9M. Net income increased 17% to $61.5M. Net interest income after loan loss provision reflects increase in interest earning assets and decrease in interest bearing liabilities.

Equity composition

Common Stock $1 Par, 03/11, 150M auth., 83,166,423 issd., less 5,922,607 in Treas. @ $58.2M. Insiders control 4.60%. 7/82, Stock issd. as per reorg. of Schenectady Trust Co. Basis: 1-for-1. 8/95, 6-for-5 stock split; 11/99, 11/93, 2-for-1 stock splits; 10/01, 10/00, 10/98, 10/97, 10/96, 15% stock dividends.