Q2 2026 Earnings

Nonperforming loans

$21.8

Nonperforming loans and foreclosed real estate : Total NPLs were $21.8 million at June 30, 2026, compared to $20.7 million at December 31, 2025. There were no loans as of June 30, 2026 and December 31, 2025 that were past due 90 days or more and still accruing interest.

Nonperforming loans to total loans

0.4%

At June 30, 2026, the allowance for credit losses on loans was $54.1 million, compared to $52.2 million at December 31, 2025. The allowance represents 1.01% of the loan portfolio at June 30, 2026 and 0.99 % at December 31, 2025. The coverage ratio, or the allowance for credit losses on loans to NPLs, was 248.6% and 252.5% as of June 30, 2026 and December 31, 2025, respectively. The ratio of non-performing loans to total loans was 0.40% and 0.39% as of June 30, 2026 and December 31, 2025, respectively.

Average interest-earning assets

$6.35

Total average interest earning assets increased from $6.15 billion in the second quarter of 2025 to $6.35 billion in the same period of 2026 with an average yield of 4.27% in the second quarter of 2026 and 4.19% in the second quarter of 2025.

Yield on interest-earning assets

4.3%

Total average interest earning assets increased from $6.15 billion in the second quarter of 2025 to $6.35 billion in the same period of 2026 with an average yield of 4.27% in the second quarter of 2026 and 4.19% in the second quarter of 2025.

Average interest-bearing deposits

$4.85

Total average interest-bearing deposits (which includes interest bearing checking, money market accounts, savings and time deposits) increased $169.9 million to $4.85 billion for the second quarter of 2026 versus the second quarter in the prior year, and the average rate paid decreased from 1.93% for 2025 to 1.80% for 2026.

Average rate on interest-bearing deposits

1.8%

Total average interest-bearing deposits (which includes interest bearing checking, money market accounts, savings and time deposits) increased $169.9 million to $4.85 billion for the second quarter of 2026 versus the second quarter in the prior year, and the average rate paid decreased from 1.93% for 2025 to 1.80% for 2026.

Average rate on interest-bearing liabilities

1.8%

The average balance of interest-bearing liabilities increased $197.8 million and the average rate paid decreased 12 basis points to 1.79% in the second quarter of 2026 compared to the same period in 2025 resulting in less interest expense.

Average short-term borrowings

$108.9

Average short-term borrowings for the second quarter were $108.9 million in 2026 compared to $81.1 million in 2025. The increase in the average balance from the prior year period is primarily a result of increases in customer balances. The weighted average interest rate for short-term borrowings during the second quarter increased during this time period from 0.87% in 2025 to 1.36% in 2026.

Uninsured deposits

$1.25

As of June 30, 2026 and December 31, 2025, approximately $1.25 billion and $1.22 billion, respectively, of our deposit portfolio were uninsured. The uninsured amounts are estimates based on the methodologies and assumptions used for the Bank's regulatory reporting requirements.

Weighted-average rate on short-term borrowings

1.4%

Average short-term borrowings for the second quarter were $108.9 million in 2026 compared to $81.1 million in 2025. The increase in the average balance from the prior year period is primarily a result of increases in customer balances. The weighted average interest rate for short-term borrowings during the second quarter increased during this time period from 0.87% in 2025 to 1.36% in 2026.

Average loan portfolio

$5.33

The average loan portfolio grew by $197.5 million to $5.33 billion and the average yield increased 16 basis points to 4.41% in the second quarter of 2026 compared to the same period in 2025. This resulted in an increase in interest income.

Average loan yield

4.4%

The average loan portfolio grew by $197.5 million to $5.33 billion and the average yield increased 16 basis points to 4.41% in the second quarter of 2026 compared to the same period in 2025. This resulted in an increase in interest income.

Available FHLBNY borrowing capacity

$1.02

As of June 30, 2026 the Company also has borrowing capacity of $1.02 billion available with the FHLBNY and $530 thousand available with the FRBNY. The borrowing capacity is secured by the loans pledged by the Company. As of June 30, 2026 and December 31, 2025, the Company had no outstanding borrowings with the FHLBNY or the FRBNY.

Available FRBNY borrowing capacity

$530

As of June 30, 2026 the Company also has borrowing capacity of $1.02 billion available with the FHLBNY and $530 thousand available with the FRBNY. The borrowing capacity is secured by the loans pledged by the Company. As of June 30, 2026 and December 31, 2025, the Company had no outstanding borrowings with the FHLBNY or the FRBNY.

Net interest margin

2.9%

Net interest income increased by $3.8 million to $45.6 million in the second quarter of 2026 compared to the same period in 2025 driven by loan growth at higher interest rates and lower interest expense, partially offset by lower investment interest income and a decrease in interest income on Federal Funds sold and other short-term investments. The net interest spread was up 20 basis points to 2.48% in the second quarter of 2026 compared to the same period in 2025. As previously noted, the net interest margin was up 16 basis points to 2.87% for the second quarter of 2026 compared to the same period in 2025.

Net interest spread

2.5%

Net interest income increased by $3.8 million to $45.6 million in the second quarter of 2026 compared to the same period in 2025 driven by loan growth at higher interest rates and lower interest expense, partially offset by lower investment interest income and a decrease in interest income on Federal Funds sold and other short-term investments. The net interest spread was up 20 basis points to 2.48% in the second quarter of 2026 compared to the same period in 2025. As previously noted, the net interest margin was up 16 basis points to 2.87% for the second quarter of 2026 compared to the same period in 2025.

Return on average assets

1.0%

TrustCo recorded net income of $17.0 million, or $0.98 of diluted earnings per share, for the three-months ended June 30, 2026, compared to net income of $15.0 million, or $0.79 of diluted earnings per share, in the same period in 2025. Return on average assets was 1.04% and 0.96%, respectively, for the three months ended June 30, 2026 and 2025. Return on average equity was 10.22% and 8.73%, respectively, for the three-months ended June 30, 2026 and 2025.

Return on average equity

10.2%

TrustCo recorded net income of $17.0 million, or $0.98 of diluted earnings per share, for the three-months ended June 30, 2026, compared to net income of $15.0 million, or $0.79 of diluted earnings per share, in the same period in 2025. Return on average assets was 1.04% and 0.96%, respectively, for the three months ended June 30, 2026 and 2025. Return on average equity was 10.22% and 8.73%, respectively, for the three-months ended June 30, 2026 and 2025.

Assets under management

$1.4

The fair value of assets under management was $1.4 billion at June 30, 2026, $1.3 billion at December 31, 2025, and $1.2 billion at June 30, 2025.

Full-time equivalent headcount

742

Full time equivalent headcount was 733 as of June 30, 2025, 743 as of December 31, 2025, and 742 as of June 30, 2026. Changes in headcount represent normal fluctuations.