The consistent beat on prior-year comparisons and margin expansion validate the loan repricing thesis. With management on pace to repurchase 3M shares (15.8% of outstanding) by year-end, EPS growth should continue to outpace net income growth. Monitor the Q3 earnings call for any change in the repurchase pace or signs of deposit cost pressure as the rate environment evolves.
Price Chart
Executive Summary
TrustCo Bank Corp NY reported Q2 2026 net income of $17.0M ($0.98 diluted EPS), a 12.8% increase from $15.0M ($0.79) in Q2 2025, driven by 9.2% net interest income growth to $45.6M and net interest margin expansion to 2.87%. The quarter also included an $844K unrealized gain from Visa share conversion, while aggressive share repurchases (1M shares YTD) boosted EPS growth above net income growth. The consistent beat on prior-year comparisons and continued margin expansion signal sustained operational momentum for this community bank.
Key Financial Metrics
Key Facts
- Net income of $17.0M in Q2 2026, up 12.8% from $15.0M in Q2 2025
- Diluted EPS of $0.98, up 24.1% from $0.79 in Q2 2025
- Net interest income of $45.6M, up 9.2% from $41.7M in Q2 2025
- Net interest margin expanded to 2.87% from 2.71% in Q2 2025
- Average loans and deposits each grew 3.8% year-over-year
- Repurchased 1M shares (5.6% of outstanding) in first half of 2026
- Book value per share rose to $38.53 from $36.75 a year ago
- Nonperforming loans to total loans at 0.40%, stable and well-covered
Financial Impact
Net income increased $1.9M (12.8%) year-over-year; EPS grew $0.19 (24.1%) driven by earnings growth and share buybacks
Risk Factors
- NPLs increased to $21.8M from $17.9M year-over-year, though still low at 0.40% of loans
- Equity-to-assets ratio declined to 10.05% from 10.91% due to aggressive buybacks
- Net interest margin expansion may slow if the Fed cuts rates and loan repricing benefits diminish
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001140361-26-029118 |
| Document: ef20078312_8k.htm | 0001140361-26-029118 |
| Document: 0001140361-26-029118-index-headers.html | 0001140361-26-029118 |
| Document: 0001140361-26-029118-index.html | 0001140361-26-029118 |
| Document: 0001140361-26-029118.txt | 0001140361-26-029118 |
| 8-K Data (Synthetic) | 0001140361-26-029118 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | 8-K | $55.47 $55.73 | ▲ +0.47% | ▲ +0.99% | $56.23 (+1.37%) |
Oct 21, 2026 5d ago | Press Release | $55.47 $55.73 | ▲ +0.47% | ▲ +0.99% | $56.23 (+1.37%) |
Oct 13, 2026 13d ago | 8-K | $53.87 $54.02 | ▲ +0.28% | ▼ −0.01% | $56.23 (+4.38%) |
Oct 13, 2026 13d ago | Press Release | $53.87 $54.02 | ▲ +0.28% | ▼ −0.01% | $56.23 (+4.38%) |
Jul 21, 2026 13w ago | 8-K | $55.94 $56.45 | ▲ +0.91% | ▲ +2.15% | $56.23 (+0.52%) |
Jul 21, 2026 13w ago | Press Release | $55.94 $56.45 | ▲ +0.91% | ▲ +2.15% | $56.23 (+0.52%) |
Jul 10, 2026 15w ago | 8-K | $54.68 $54.59 | ▼ −0.17% | ▼ −0.53% | $56.23 (+2.83%) |
Jul 10, 2026 15w ago | Press Release | $54.68 $54.59 | ▼ −0.17% | ▼ −0.53% | $56.23 (+2.83%) |
May 22, 2026 22w ago | S-3ASR | $50.26 $51.37 | ▲ +2.21% | ▲ +1.62% | $56.23 (+11.88%) |
May 20, 2026 22w ago | 8-K | $50.08 $49.90 | ▼ −0.36% | ▼ −0.80% | $56.23 (+12.29%) |
US Market Status
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