TRST FY 2020 Earnings Report — TrustCo Bank Corp NY Revenue & Financial Results | Market Cap Arena

TrustCo Bank Corp NYTRST

FY 2020 Earnings

Reported February 26, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$195M	—	$211M	—	-7.2%
Op. Income	$69M	—	$77M	—	-9.2%
Gross Margin	84.5%	—	82.8%	—	1.7pp
Net Margin	26.8%	—	27.4%	—	-0.6pp
EPS (Diluted)	$2.72	—	$2.98	—	-8.7%
Free Cash Flow	$58M	—	$60M	—	-2.6%

Revenue Flow

Item	Amount
REVENUE	$195M
Cost of Revenue	$30M
GROSS PROFIT	$165M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$48M
SG&A Expenses	$50M
Other Expenses	$46M
Operating Expenses	$96M
Cost & Expenses	$126M
OPERATING INCOME	$69M
Interest Income	$178M
Interest Expense	$25M
Other Income/Expenses	$0
INCOME BEFORE TAX	$69M
Income Tax Expense	$17M
Net Income from Continuing Ops	$52M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$52M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$52M
D&A	$10M
EBIT	$69M
EBITDA	$80M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$195M
Cost of Revenue	$30M
GROSS PROFIT	$165M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$48M
SG&A Expenses	$50M
Other Expenses	$46M
Operating Expenses	$96M
Cost & Expenses	$126M
OPERATING INCOME	$69M
Interest Income	$178M
Interest Expense	$25M
Other Income/Expenses	$0
INCOME BEFORE TAX	$69M
Income Tax Expense	$17M
Net Income from Continuing Ops	$52M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$52M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$52M
D&A	$10M
EBIT	$69M
EBITDA	$80M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$52M
Depreciation & Amortization	$10M
Stock-Based Compensation	$15.0K
Deferred Income Tax	-$1M
Other Non-Cash Items	$8M
Change in Working Capital	-$8M
OPERATING CASH FLOW	$62M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$145M
Sales/Maturities of Investments	$291M
Other Investing Activities	-$178M
NET CASH FROM INVESTING	-$35M
Net Debt Issuance	$66M
Common Stock Repurchased	-$3M
Common Dividends Paid	-$26M
Other Financing Activities	$587M
NET CASH FROM FINANCING	$623M
FREE CASH FLOW	$58M
Net Change in Cash	$650M

Balance Sheet

Item	Amount
Cash & Equivalents	$47M
Short-Term Investments	$439M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$486M
PP&E (Net)	$82M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$4.2B
Tax Assets	$0
Other Non-Current Assets	$1.1B
TOTAL NON-CURRENT ASSETS	$5.4B
TOTAL ASSETS	$5.9B
Account Payables	$0
Short-Term Debt	$215M
Deferred Revenue	$0
Other Current Liabilities	$5.0B
TOTAL CURRENT LIABILITIES	$5.3B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$53M
TOTAL LIABILITIES	$5.3B
Common Stock	$20M
Additional Paid-In Capital	$257M
Retained Earnings	$314M
Treasury Stock	-$34M
Accum. Other Comp. Income	$12M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$568M
Minority Interest	$0
TOTAL EQUITY	$568M
TOTAL LIABILITIES & EQUITY	$5.9B
Total Debt	$268M
Net Debt	$220M