At a glance
TrustCo Bank Corp NY is worth $965.5M, about 17 times its fiscal 2025 earnings. Revenue grew 9.4% to $187.9M in fiscal 2025, with 32.5% kept as profit; over 5 years it has grown 1.9% a year. It pays a 2.72% dividend yield, and returned $183.6M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +53.0% over the past year with dividends reinvested and +16.1% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 41.9% in the 2020 crash (S&P 500: 33.7%) and 14.6% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 12 months and 2 months after the lows.
The business in plain English
TrustCo Bank Corp NY, based in Glenville, New York, owns Trustco Bank, a federal savings bank. The bank takes deposits from individuals and businesses through checking, savings and money market accounts and certificates of deposit, then lends that money out. Most home mortgages it makes are fixed-rate loans it keeps on its own books. It also makes home equity, commercial, commercial real estate and consumer loans. As of December 31, 2025, it had $6.4 billion in assets and $5.6 billion in deposits.
Most revenue is net interest income: the gap between the interest it earns on loans and investments and the interest it pays on deposits and borrowings. In 2025 that came to $169.0 million of $187.9 million in revenue. The other $18.9 million was noninterest income, such as fees. Its trust department, Trustco Financial Services, handles estates, personal trusts, wealth management and employee benefit plans, with about $1.27 billion under trust, custody or management as of December 31, 2025.
Its main markets are New York's Capital District, around Albany, and central Florida. At year-end 2025 it ran 134 branches and 154 ATMs in eastern New York and Florida, plus a county each in Vermont, Massachusetts and New Jersey. It is the largest for-profit bank based in the Capital District. TrustCo does not break out revenue by region.
Price history
The interactive chart needs JavaScript.
TRST +53.0% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $51.5M, up 10.5% from a year earlier, and net income was $17.0M (+12.8%).
- For fiscal 2025, revenue was $187.9M (+9.4% year over year; +1.9% a year from FY2020 to FY2025) with a 32.5% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +1.9% watch |
|---|---|
| Return on equity | 8.9% watch |
| Net income / revenue | 32.5% good |
| Deposits | $5.68B |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $170.8M | $52.5M | — |
| FY2021 | $178.3M | $61.5M | — |
| FY2022 | $199.4M | $75.2M | — |
| FY2023 | $190.2M | $58.6M | — |
| FY2024 | $171.8M | $48.8M | — |
| FY2025 | $187.9M | $61.1M | — |
Valuation snapshot
| Market value | $965.5M |
|---|---|
| P/E ratio | 17.4 |
| Dividend yield | 2.72% |
Rank among 1514 US companies
Market value at each year end
TrustCo Bank Corp NY’s market value went from $837.4M at the end of 2016 to $965.5M on Oct 28, 2026, up 15%; since the end of 2025 it is up 27%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $965.5M | +26.8% |
| 2025 | $761.5M | +20.2% |
| 2024 | $633.2M | +7.2% |
| 2023 | $590.7M | -17.5% |
| 2022 | $716.2M | +11.9% |
| 2021 | $640.2M | -0.5% |
| 2020 | $643.2M | -23.5% |
| 2019 | $840.3M | +26.7% |
| 2018 | $663.1M | -25.0% |
| 2017 | $884.2M | +5.6% |
| 2016 | $837.4M |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| TRST price data to Oct 28, 2026 | +40.3% | +53.0% | +36.4% | +16.1% | +9.2% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +40.3% |
| 2025 | +29.3% |
| 2024 | +12.4% |
| 2023 | -13.3% |
| 2022 | +17.6% |
| 2021 | +4.0% |
| 2020 | -19.7% |
| 2019 | +30.9% |
| 2018 | -22.9% |
| 2017 | +8.8% |
| 2016 | +48.5% |
| 2015 | -11.7% |
| 2014 | +5.4% |
| 2013 | +42.6% |
| 2012 | -0.8% |
| 2011 | -6.8% |
| 2010 | +5.3% |
| 2009 | -30.3% |
| 2008 | +16.6% |
| 2007 | +20.6% |
| 2006 | +17.6% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 42.5% over that stretch · deepest drop along the way 62.3%, back to its old high 102.6 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 41.9% over that stretch · deepest drop along the way 41.9%, back to its old high 11.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 1.7% over that stretch · deepest drop along the way 14.6%, back to its old high 1.8 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 7 open-market purchases ($80K) and 0 sales ($0.00).
| Date | Insider | Type | Value |
|---|---|---|---|
| Mar 12, 2026 | Kevin M Curley EXECUTIVE VICE PRESIDENT & COO | buy | $25K |
| Sep 2, 2026 | Lauren Ann McCormick VP,Treasurer, Asst. Corp. Sec. | buy | $25K |
| Nov 26, 2025 | Lisa M Lucarelli Director | buy | $9K |
| Aug 12, 2026 | Lauren Ann McCormick VP,Treasurer, Asst. Corp. Sec. | buy | $6K |
| Jun 4, 2026 | Lisa M Lucarelli Director | buy | $5K |
Who owns it
Large shareholders (13G filings)
| SYSTEMATIC FINANCIAL MANAGEMENT LP | 6.3% | Dec 31, 2025 |
| Vanguard Capital Management | 5.38% | Mar 31, 2026 |
| STATE STREET CORPORATION | 5% | Mar 31, 2026 |
ETFs with the most weight in TRST
| SVAL iShares US Small Cap Value Factor ETF | 0.45% |
| ROSC Hartford Multifactor Small Cap ETF | 0.41% |
| SMLV SPDR SSGA US Small Cap Low Volatility Index ETF | 0.33% |
| QABA First Trust NASDAQ ABA Community Bank Index Fund | 0.31% |
| IWC iShares Micro-Cap ETF | 0.17% |
| PSCF Invesco S&P SmallCap Financials ETF | 0.17% |
| BSVO EA Bridgeway Omni Small-Cap Value ETF | 0.15% |
| KRE SPDR S&P Regional Banking ETF | 0.11% |
What could go wrong
- Long fixed-rate loans, shorter-term deposits. Many TrustCo loans carry fixed rates, or rates fixed for five to 10 years, and run longer than the deposits funding them. If deposit costs rise faster than loan rates, its interest earnings shrink.
- Concentrated in two regional markets. Its main markets are New York's Capital District and central Florida. A local slowdown, fewer home purchases or falling property values there could hurt loan demand and the value of property backing its loans.
- Little income outside of lending. In 2025, net interest income was $169.0 million of TrustCo's $187.9 million in revenue. With only $18.9 million from fees and other sources, there is little cushion when lending profits fall.
- Rising rates can dent bond holdings. TrustCo classifies most securities as available for sale. When rates rise, fixed-rate bonds lose value, and those paper losses cut shareholders' equity on the books, even if nothing is sold.
- Falling rates speed up loan payoffs. After Fed rate cuts in 2024 and 2025, more homeowners may refinance and repay mortgages early. TrustCo may then have to reinvest that cash at lower rates than the loans it lost.
- Fierce competition for deposits and loans. TrustCo competes with large national banks, credit unions, money market funds and internet-based rivals. Its annual report says competition for loans increased as rates stayed elevated and housing inventory tightened.
Recent events
- Quarterly results released
- Other company announcement
- Executive or board change; Other company announcement
- Other company announcement
- Quarterly results released
- Other company announcement
- Executive or board change; Shareholder vote results; Other company announcement
- Other company announcement
- Quarterly results released
- Other company announcement
For income and retirement investors
TrustCo's dividend has grown slowly. Dividends per share rose from about $1.36 in fiscal 2020 to $1.48 in fiscal 2025, or roughly 1.7% a year. They stayed flat at $1.44 in 2023 and 2024, so the streak of increases stood at one year after fiscal 2025. The 2025 dividend used about 45% of earnings, which leaves some room if profits dip. The dividend yield was 2.72% as of October 28, 2026. Buybacks jumped to $38.1 million in fiscal 2025, and the share count fell 11.4% from October 2021 to July 2026.
The shares have fallen hard in crises. They dropped 62.3% from September 2008 to March 2009 and took about 103 months, until September 2017, to get back to their earlier high. In the 2020 COVID crash they fell 41.9% and recovered in about 11.5 months. The 2022 bear market was milder: a 14.6% drop, made up in under two months. Single stocks, especially a single regional bank, carry more risk than diversified funds.
Questions investors ask
Does TrustCo Bank raise its dividend every year?
No. TrustCo pays a dividend but has not raised it every year. Regular dividends per share held at $1.44 in 2023 and 2024, then rose to $1.48 in 2025, so its streak of increases was one year. From 2020 to 2025, the dividend grew about 1.7% a year. The 2025 dividend used 45.2% of earnings, and the yield was 2.72% as of October 28, 2026.
How does TrustCo Bank make money?
Mostly from interest on loans and investments. TrustCo takes deposits and lends the money out as home mortgages, home equity lines, commercial, commercial real estate and consumer loans. In 2025, net interest income, the gap between interest earned and interest paid, was $169.0 million of $187.9 million in revenue. Noninterest income, such as fees, added $18.9 million, and net income was $61.1 million. Its trust department oversaw about $1.27 billion in trust, custody and managed assets as of December 31, 2025.
Where does TrustCo Bank have branches?
Mostly in New York and Florida. At year-end 2025, TrustCo ran 134 banking offices and 154 ATMs. In New York, they run from the Capital District, including Albany, Saratoga and Schenectady counties, south through the Hudson Valley to Westchester and Rockland. In Florida, they include central counties such as Orange, Seminole and Polk, plus Palm Beach and Sarasota. It also has offices in Bennington County, Vermont; Berkshire County, Massachusetts; and Bergen County, New Jersey.
How did TrustCo stock do in the 2008 financial crisis?
Poorly. The share price fell 62.3% from its September 19, 2008 peak to March 9, 2009, and it did not return to that level until September 27, 2017, about 103 months later. In the 2020 COVID crash the stock fell 41.9% and took about 11.5 months to recover. Its drop in the 2022 bear market was a smaller 14.6%. Over about 21 years of price history, its largest decline was 66.1%.
How has TRST stock performed over the long term?
Strongly over the last three years, more modestly over the long run. Based on share prices as of October 28, 2026, TrustCo returned 53% over one year and 40.3% year to date. Average annual returns were 36.4% over three years, 16.1% over five years, 9.2% over 10 years and 7.1% over about 21 years. Calendar-year results swing widely, from a 13.3% loss in 2023 to a 29.3% gain in 2025.