Trustco Bank Reports Q4 Tangible Book Value of $38.05
Reports Q4 tangible book value per share $38.05. Chairman, president, and CEO, Robert McCormick said, "The results announced today are absolutely stellar. Our team performed extraordinarily well on all levels. We have long-served Trustco Bank customers in a manner that has generated trust and earned loyalty. With this foundation, our retail area has been able to control cost of funds, which, in turn, expanded margin. The lenders finished strong, with the best quarterly loan growth of the year. The management team successfully executed a million-share buyback and then immediately sought and received regulatory approval for a further two-million share buyback, which we then fully funded. Thus, between what we have done, and what we are likely to do, we will have re-purchased more than 16% of the outstanding shares of our stock over the two-year period - and may not be done. Perhaps even more significantly, we grew total shareholder return 29% over the year, outpacing a major regional bank index and our proxy peers by a factor of more than three times. With our capital position still strong, and our credit quality remaining exceptional, I look forward to seeing our team deliver even greater value to our shareholders in 2026 and beyond."
