TRST FY 2021 Earnings Report — TrustCo Bank Corp NY Revenue & Financial Results | Market Cap Arena

TrustCo Bank Corp NYTRST

FY 2021 Earnings

Reported February 25, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$186M	—	$195M	—	-4.9%
Op. Income	$82M	—	$69M	—	18.3%
Gross Margin	98.9%	—	84.5%	—	14.4pp
Net Margin	33.1%	—	26.8%	—	6.3pp
EPS (Diluted)	$3.19	—	$2.72	—	17.3%
Free Cash Flow	$53M	—	$58M	—	-9.9%

Revenue Flow

Item	Amount
REVENUE	$186M
Cost of Revenue	$2M
GROSS PROFIT	$184M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$52M
SG&A Expenses	$54M
Other Expenses	$48M
Operating Expenses	$102M
Cost & Expenses	$104M
OPERATING INCOME	$82M
Interest Income	$168M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$82M
Income Tax Expense	$21M
Net Income from Continuing Ops	$62M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$62M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$62M
D&A	$11M
EBIT	$82M
EBITDA	$93M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$186M
Cost of Revenue	$2M
GROSS PROFIT	$184M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$52M
SG&A Expenses	$54M
Other Expenses	$48M
Operating Expenses	$102M
Cost & Expenses	$104M
OPERATING INCOME	$82M
Interest Income	$168M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$82M
Income Tax Expense	$21M
Net Income from Continuing Ops	$62M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$62M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$62M
D&A	$11M
EBIT	$82M
EBITDA	$93M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$62M
Depreciation & Amortization	$11M
Stock-Based Compensation	$0
Deferred Income Tax	-$238.0K
Other Non-Cash Items	-$2M
Change in Working Capital	-$15M
OPERATING CASH FLOW	$55M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	-$140M
Sales/Maturities of Investments	$162M
Other Investing Activities	-$194M
NET CASH FROM INVESTING	-$175M
Net Debt Issuance	$30M
Common Stock Repurchased	-$3M
Common Dividends Paid	-$26M
Other Financing Activities	$231M
NET CASH FROM FINANCING	$232M
FREE CASH FLOW	$53M
Net Change in Cash	$112M

Balance Sheet

Item	Amount
Cash & Equivalents	$48M
Short-Term Investments	$408M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$456M
PP&E (Net)	$81M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$4.4B
Tax Assets	$0
Other Non-Current Assets	$1.3B
TOTAL NON-CURRENT ASSETS	$5.7B
TOTAL ASSETS	$6.2B
Account Payables	$0
Short-Term Debt	$245M
Deferred Revenue	$0
Other Current Liabilities	$5.3B
TOTAL CURRENT LIABILITIES	$5.5B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$53M
TOTAL LIABILITIES	$5.6B
Common Stock	$20M
Additional Paid-In Capital	$257M
Retained Earnings	$349M
Treasury Stock	-$37M
Accum. Other Comp. Income	$12M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$601M
Minority Interest	$0
TOTAL EQUITY	$601M
TOTAL LIABILITIES & EQUITY	$6.2B
Total Debt	$297M
Net Debt	$249M