TrustCo Bank Corp NY delivered a solid QQ1 2024 performance driven by sustained loan growth, stable asset quality, and ongoing expense discipline. Net income reached $12.1 million, up 23.1% versus the prior quarter, as the company leveraged a high-quality loan book to support earnings despite net interest margin pressure from rate dynamics. Total loans surpassed the $5 billion mark, underpinned by residential real estate, commercial loans, and home equity products, with deposits totaling $5.4 billion and a continued emphasis on deposit retention amid a evolving rate environment. The bank reported a 2.44% net interest margin, down 77 basis points from the prior-year period, reflecting the competitive rate backdrop, but yielded a favorable yield on earning assets at 3.99%. Management remains constructive on the margin trajectory, highlighting progress toward the bottom of the rate cycle and the potential to reaccelerate loan growth in the spring selling season. The Wealth Management arm continued to contribute meaningfully to noninterest income, and the bank reaffirmed a disciplined expense plan, guiding quarterly noninterest expense ex-ORE to approximately $26.9-$27.4 million for 2024. Overall, TrustCo maintains a robust capital position, strong liquidity, and a conservative credit stance, with a focus on growing market share and deploying capital opportunistically through a reauthorized stock repurchase program.