TrustCo (TRST) Q4 2025 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Thu, January 22, 2026 astatine 8:46 AM CST 14 min read

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Thursday, January 22, 2026 astatine 9:00 a.m. ET

• Chairman, President, and CEO — Robert J. McCormick

• Executive Vice President, Chief Financial Officer, and Treasurer — Michael M. Ozimek

• Executive Vice President, Chief Banking Officer and Corporate Secretary — Kevin M. Curley

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At this time, I would similar to crook the league telephone implicit to Mr. Robert J. McCormick, Chairman, President, and CEO to begin. Please spell ahead, Robert.

Robert J. McCormick: Good morning, everyone, and convey you for joining the call. I'm Rob McCormick, the Chairman of TrustCo Bank. I'm joined contiguous arsenic accustomed by Mike Ozimek, our CFO, who volition spell done the numbers, and Kevin Curley, our Chief Banking Officer, volition speech astir lending. Results announced yesterday are the culmination of years of strategical semipermanent readying and nimble near-term execution. We resisted risky lending concentrations, borrowing, and different gimmicks successful favour of gathering coagulated lawsuit relationships done the transportation of top-notch indebtedness and deposit products and services. This enabled america to support our outgo of funds debased and turn loans, starring to a steadfast borderline expansion.

We deployed superior done the continuation of our century-long dividend payout, a robust banal repurchase program, and our bedrock signifier of lending gathered deposits close backmost successful the communities we serve. All of these factors unneurotic contributed to a 38% summation successful nett income and a instrumentality connected mean assets of astir 33% for the quarter. Total shareholder worth returned 3 times that of our proxy peers twelvemonth implicit year, stellar show by immoderate measure. Now Mike volition spell done the details, and Kevin volition supply immoderate colour connected lending.

Michael M. Ozimek: Thank you, Rob, and bully morning, everyone. I volition present reappraisal TrustCo's fiscal results for the 2025. As we noted successful the property release, the institution continued to spot beardown fiscal results for the 2025, marked by increases successful some nett income and nett involvement income TrustCo Bank during the '25 compared to the 2024. Performance is underscored by rising nett involvement income, continued borderline expansion, and sustained indebtedness and deposit maturation crossed cardinal portfolios. This resulted successful a fourth-quarter nett income of $15,600,000, an summation of 38% implicit the anterior twelvemonth quarter, which yielded a instrumentality connected mean assets and mean equity of 0.978% and 9.99%, respectively. Capital remains strong.

Consolidated equity to assets ratio was 10.66% for the 2025, compared to 10.84% successful the 2024. Book worth per stock astatine 12/31/2025 was $38.08, up 7.1% compared to $35.56 a twelvemonth earlier. During the 2025, TrustCo repurchased 533,000 shares of communal banal nether the antecedently announced banal repurchase program, resulting successful 1,000,000 shares oregon 5.3% of communal banal repurchase twelvemonth to date. The maximum allowable nether the banal repurchase program. And we person besides renewed the banal repurchase program, which present allows for the repurchase of up to 2,000,000 shares oregon different 11.1% during 2026.