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EX-99.A

2 ef20071047_ex99a.htm

EXHIBIT 99(A)

Exhibit 99(a)

5 Sarnowski Drive, Glenville, New York, 12302

News Release

Subsidiary:        Trustco Bank

Nasdaq -- TRST

Contact:

Robert Leonard

Executive Vice President

(518) 381-3693

Lauren A. McCormick

Vice President, Treasurer, and

Assistant Corporate Secretary

(518) 381-3673

FOR IMMEDIATE RELEASE:

TrustCo Reports First Quarter 2026 Net Income of $16.3 Million;

Notes Loan Portfolio Repricing

Executive Snapshot:

•

Financial results:

o

Key metrics for the first quarter 2026 compared to the first quarter of 2025:

◾

Net income of $16.3 million increased 14.1% compared to $14.3 million

◾

Diluted earnings per share of $0.91 increased 21.3% compared to $0.75

◾

Net interest margin of 2.84%, up 20 basis points from 2.64%

◾

Return on Average Assets of 1.02%, up 9.7% from 0.93%

◾

Return on Average Equity of 9.66%, up 13.8% from 8.49%

◾

Net interest income of $44.7 million, up 10.7% from $40.4 million

•

Capital position and Stock Repurchase Program:

o

Book value per share as of March 31, 2026 was $38.32, up from $36.16 as of March 31, 2025

o

More than a half million shares (522,226), or 2.9%, of TrustCo common stock were purchased under the Stock Repurchase Program during the first quarter of 2026

o

On pace to complete the repurchase of two million shares or 11.1% of TrustCo common stock during 2026

Glenville, New York – April 21, 2026

TrustCo Bank Corp NY (TrustCo, NASDAQ: TRST) today announced strong financial results for the first quarter of 2026 highlighted by a substantial increase in net interest income, continued margin expansion, and sustained loan and deposit growth across core lending and deposit categories.  For the three months ended March 31, 2026, net interest income increased 10.7% year over year to $44.7 million, supported by the ongoing asset repricing across our loan portfolio at higher yields and effective execution of deposit pricing strategies, which together more than offset competitive pressures on deposit pricing.  For the three months ended March 31, 2026, net interest margin expanded to 2.84% from 2.64% in the prior year period, driven by enhanced asset yields and disciplined deposit pricing strategies.  This resulted in first quarter 2026 net income of $16.3 million, or $0.91 diluted earnings per share, compared to net income of $14.3 million, or $0.75 diluted earnings per share, for the first quarter 2025.  Loan balances expanded throughout the quarter, with total average loans increasing $158.9 million for the first quarter 2026 over the same period in 2025.  Following this period of sustained growth, TrustCo remains confident in the quality of its loan portfolio amid broader market concerns.  We believe that our continued focus on solid underwriting within our loan portfolio and conservative lending standards positions us to manage credit risk effectively in the current environment.

Page | 1

Overview

Chairman, President, and CEO, Robert J. McCormick said “Our shareholders can be proud of the net income of $16.3 million we posted for the quarter, a 14% increase year-over-year.  As expected, this performance is due in significant part to repricing in our loan portfolio, which now exceeds $5.29 billion.  Our trademark discipline with respect to deposit pricing resulted in a 4% year-over-year improvement in interest expense.  Together, these successes contributed to margin expansion of 7.6% over the year.  Nonperforming loans remain immaterial as we continue to prioritize high-quality credit and maintain a clean asset profile, while reaching another all-time high in our loan portfolio.  Over the latest one-year period, our share price is up $13 and while we realize that market valuation is always a moving target, delivering a 49% total return with dividends reinvested represents substantial value creation for our owners and is a testament to the effectiveness our team’s strategy.”

Details

We have continued to see meaningful net interest income improvement, and management expects net interest income improvement to remain sustainable.  The Bank’s loan and investment portfolios continue to reprice upward as lower yielding assets mature and are replaced with higher rate loan originations and investment purchases, driving steady improvement in overall asset yields.  We believe that this ongoing repricing reflects disciplined loan production aligned with current market conditions. Complementing this, the Bank maintains a strong liquidity position, providing flexibility to support future growth as funding conditions continue to evolve.  We believe that, together, these factors position the Bank to continue net interest income growth in the coming quarters and deliver long-term value to shareholders.  Net interest income was $44.7 million for the first quarter of 2026, an increase of $4.3 million, or 10.7%, compared to the first quarter of 2025, driven by loan growth at higher interest rates, and a decrease

false0000357301NY00003573012026-01-212026-01-21

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported):  January 21, 2026

TrustCo Bank Corp NY

(Exact name of registrant as specified in its charter)

New York

0-10592

14-1630287

State or Other Jurisdiction of Incorporation or Organization

Commission File No.

I.R.S. Employer Identification Number

5 SARNOWSKI DRIVE, GLENVILLE, NEW YORK 12302

(Address of principal executive offices)

(518) 377-3311

(Registrant’s Telephone Number,

Including Area Code)

NOT APPLICABLE

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $1.00 par value

TRST

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

TrustCo Bank Corp NY

Item 2.02.

Results of Operations and Financial Condition

On January 21, 2026 TrustCo Bank Corp NY (“TrustCo”) issued a press release with results for the quarter ending December 31, 2025. Attached is a copy of the press release labeled as Exhibit 99(a).

Item 9.01.

Financial Statements and Exhibits

(d)          Exhibits

Reg S-K Exhibit No.

Description

99(a)

Press release dated January 21, 2026 for the period ending December 31, 2025, regarding quarterly results.

104

Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document.

-2-

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated: January 21, 2026

TrustCo Bank Corp NY

(Registrant)

By:

/s/ Michael M. Ozimek

Michael M. Ozimek

Executive Vice President and

Chief Financial Officer

-3-