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TrustCo net income up in first quarter

By Bethany Bump
Thursday, May 9, 2013

TrustCo Bank Corp NY had a net income of $9.2 million in the first quarter of the year, up 2.9 percent from last year.

The holding company for Glenville-based Trustco Bank also saw nonperforming loans fall from 1.96 percent at the end of 2012 to 1.84 percent by March 31 of this year. Delinquent loans also fell during this time, from 0.3 percent of total loans to 0.24 percent.

Average deposits were up $31 million and average loans were up $168 million in the first quarter compared to last year.

The company highlighted its first quarter financial results in an April 24 brochure mailed to shareholders, which was included in a filing made this week with the U.S. Securities and Exchange Commission.

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