TrustCo Bank Corp NY reported solid Q2 2024 results characterized by modest year-over-year declines in some profitability metrics but with meaningful sequential improvement in net interest margin and resilient loan growth. Net income reached approximately $12.6 million for the quarter, up 3.5% from the prior quarter and delivering a ROA of 0.82% and a ROE of 7.76%. Revenue totaled roughly $64.9 million, and EPS was $0.66. Management highlighted that average loans rose to around $5.0 billion, led by residential real estate and home equity products, with HELOC volumes showing robust growth (20.1% YoY). The company continued to emphasize liquidity and capital strength, noting a high equity-to-assets ratio (10.73%) and a book value per share of $34.46, up about 5.5% YoY. Nonperforming loans remained low at 0.38% of total loans, supported by a strong allowance for credit losses (approximately $49.8 million) with a 259.4% coverage ratio. Wealth management contributed meaningful noninterest income with about $1.1 billion in assets under management, underscoring TrustCo’s diversified revenue profile beyond core net interest income.