TrustCo Bank Corp NY delivered a solid Q3 2024 performance characterized by resilient credit quality, modest net income growth, and a meaningful margin recovery versus the prior quarter. Net income reached $12.9 million, supported by a net interest income of $38.7 million and a net interest margin of 2.61%, the latter marking an eighth-basis-point improvement from Q2 2024 and the continuation of two consecutive quarterly NIM gains. Deposits remained a key strength, ending the quarter at $5.3 billion, as the bank emphasized deposit retention and disciplined pricing on time deposits to structurally reduce funding costs. Loan growth remained positive, with average loans at roughly $5.0 billion and residential real estate, home equity, and small business lending contributing to a diversified loan mix. Asset quality remained stellar, with nonperforming loans at 0.38% of total loans and an ample allowance for loan losses (approximately $50 million) providing robust coverage (around 257%). Wealth Management continued to contribute a steady noninterest income stream, with about $1.3 billion of assets under management. Management signaled a constructive outlook, noting ongoing margin improvement and a willingness to pursue capital deployment options such as share repurchases and selective branch expansion, while keeping a tight rein on recurring expenses. While the quarterly revenue base reflected the bank’s size and the industry backdrop, the combination of deposit productivity, balance-sheet liquidity, and improving NIM supports a cautiously favorable longer-term earnings trajectory, provided rate stability and credit conditions remain manageable.