TRSTTRUSTCO BANK CORP N Y
State Commercial Banks
- Revenue
- —
- Operating margin
- —
- EBITDA
- —
- Market cap
- $958M
- Employees
- 819
- Net debt / EBITDA
- —
- AI in 10-K
- 4.9
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo94% of net incomeCash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowYes114% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo91% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo4.9 per 10K words · 82nd pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$958M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$80K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Net income | $62M | $75M | $59M | $49M | $61M | 25% |
| Operating cash flow | $55M | $79M | $64M | $59M | $58M | 3.1% |
| Capex | $3M | $4M | $6M | $5M | $12M | 143% |
| Stock-based comp | $0 | $0 | $103K | $720K | $1M | 76% |
| Buybacks | $2M | $7M | $0 | $374K | $38M | 10096% |
| Dividends | $26M | $27M | $27M | $27M | $28M | 0.8% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Jul 28, 2026 | HoldCo Asset Management, LP | SCHEDULE 13D | 5.1% | Passive |
Insider trading
- Open-market buys, 12 mo
- $80K · 7
- Open-market sells, 12 mo
- $0 · 0
- Net
- $80K
Pay vs performance
No pay-versus-performance disclosure yet.