TrustCo Bank Corp NY Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 22, 2024 at 04:00 pm EST
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TrustCo Bank Corp. NY reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net interest income was USD 38.61 million compared to USD 49.19 million a year ago. Net income was USD 9.85 million compared to USD 20.91 million a year ago. Basic earnings per share from continuing operations was USD 0.52 compared to USD 1.1 a year ago. Diluted earnings per share from continuing operations was USD 0.52 compared to USD 1.1 a year ago.
For the full year, net interest income was USD 171.85 million compared to USD 180.14 million a year ago. Net income was USD 58.65 million compared to USD 75.23 million a year ago. Basic earnings per share from continuing operations was USD 3.08 compared to USD 3.93 a year ago. Diluted earnings per share from continuing operations was USD 3.08 compared to USD 3.93 a year ago.
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 operates over 156 automatic teller machines and approximately 140 banking offices in New York, New Jersey, Vermont, Massachusetts, and Florida. The Bankâs business consists of accepting deposits and making loans and investments. The Bank also lends in Essex and Fulton counties, Passaic counties, and Sumter counties. The Bank provides a range of both personal and business banking services, including a full array of deposit products for both individuals and businesses. Trustco Bank also offers trust and investment services through its Financial Services Department. In addition, the Companyâs Financial Services Department offers a range of retirement planning, and trust and estate administration services.