TRST · TrustCo Bank Corp NY Q2 FY2026 earnings call record财报电话会记录

“More detailed information about these and other risk factors can be found in our press release that preceded this call and in the Risk Factors and Forward-Looking Statements section of our annual report on Form 10-K and as updated by our quarterly reports on Form 10-Q.”

“Our buyback program began in 2020, and to date, has seen the reacquisition of more than 2.3 million shares of company stock.”

“The current phase of the program is expected to continue on pace, and if completed, we will have repurchased nearly 16% of TrustCo's outstanding shares during 2025 and 2026.”

“This resulted in second quarter net income of $17 million, an increase of 12.8% over the prior year quarter, which yielded a return on average assets and average equity of 1.04% and 10.22%, respectively.”

“TrustCo has also repurchased 10.5% of TrustCo outstanding common stock under the 2025 and 2026 stock repurchase programs through the acquisition of over 1 million shares in 2026 following the purchase of 1 million shares in 2025.”

“We believe the increase in these deposits compared to the same period in 2025 continues to indicate strong customer confidence in the bank's competitive deposit offerings.”

“Net interest margin for the second quarter of 2026 was 2.87%, up 16 basis points from the prior quarter.”

“The growth was centered in our residential loan portfolio with our first mortgage segment growing by $142 million or 3.2%, and our home equity loans growing by $44.8 million or 10.4% over last year.”

“Refinance activity was strongest earlier in the period as customers moved to lock in lower rates before market rates increased.”

“In addition, our home equity products continue to offer customers low-cost alternatives to other forms of credit, such as personal loans and credit cards.”

“The increase last quarter, you had guided to $26.7 million-$27.3 million, and it came in at $28.2 million.”

“You said, now the guidance is $27.3 million-$27.8 million.”