Eagles announce 2025 open practice and single-game tickets go on sale Thursday
The Super Bowl LIX champions also announced their only open practice at Lincoln Financial Field, scheduled for Sunday, Aug. 10.
Additionally, the Birds announced players will report to the NovaCare Complex in South Philly for training camp on Tuesday, July 22.
How to get single-game tickets for the 2025 season
The Eagles say fans can buy single-game tickets for the 2025 season beginning at 10 a.m. Thursday on Ticketmaster.com. The team says there is a four-ticket limit per household.
"Due to high demand, fans are encouraged to visit Ticketmaster as soon as they go on sale," the Eagles wrote in a news release.
How to get tickets for the Eagles' only open practice in 2025
The Eagles will have only one open practice at the Linc this summer, and fans can also begin buying their tickets Thursday morning.
General admission tickets for the public practice are $10 and will go on sale at 10 a.m. Thursday on Ticketmaster.
The team will also sell $40 VIP tickets for the open practice, which will provide fans with a chance to enjoy a "special on-field experience" before the event.
The team also stated that anyone over the age of 2 will require a ticket. Unlike single-game tickets, there are no ticket limitations for the open practice. Parking is free.
The public practice is scheduled for 6:30 p.m. on Sunday, Aug. 10.
Ticket proceeds will go toward the Eagles Autism Foundation, the team said.
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TrustCo disclaims, however, any intent or obligation to update forward-looking statements, either as a result of future developments, new information or otherwise, except as may be required by BANK CORP NY GLENVILLE, NY FINANCIAL HIGHLIGHTS (dollars in thousands, except per share data) (Unaudited) Three months ended 6/30/2025 3/31/2025 6/30/2024 Summary of operations Net interest income $ 41,746 $ 40,373 $ 37,788 Provision for credit losses 650 300 500 Net gains on equity securities - - 1,360 Noninterest income, excluding net gains on equity securities 4,852 4,974 4,291 Noninterest expense 26,223 26,329 26,459 Net income 15,039 14,275 12,551 Per share Net income per share: - Basic $ 0.79 $ 0.75 $ 0.66 - Diluted 0.79 0.75 0.66 Cash dividends 0.36 0.36 0.36 Book value at period end 36.75 36.16 34.46 Market price at period end 33.42 30.48 28.77 At period end Full time equivalent employees 733 740 753 Full service banking offices 136 136 138 Performance ratios Return on average assets 0.96 % 0.93 % 0.82 % Return on average equity 8.73 8.49 7.76 Efficiency ratio (GAAP) 56.27 58.06 60.91 Adjusted Efficiency ratio (1) 55.15 58.00 62.84 Net interest spread 2.28 2.21 2.09 Net interest margin 2.71 2.64 2.53 Dividend payout ratio 45.27 47.97 54.57 Capital ratios at period end Consolidated equity to assets 10.91 % 10.85 % 10.73 % Consolidated tangible equity to tangible assets (1) 10.91 % 10.84 % 10.72 % Asset quality analysis at period end Nonperforming loans to total loans 0.35 % 0.37 % 0.38 % Nonperforming assets to total assets 0.30 0.33 0.35 Allowance for credit losses on loans to total loans 0.99 0.99 0.99 Coverage ratio (2) 2.9x 2.7x 2.6x (1) Non-GAAP Financial Measure, see Non-GAAP Financial Measures Reconciliation. (2) Calculated as allowance for credit losses on loans divided by total nonperforming loans. FINANCIAL HIGHLIGHTS, Continued (dollars in thousands, except per share data) (Unaudited) Six Months Ended 06/30/25 06/30/24 Summary of operations Net interest income $ 82,119 74,366 Provision for credit losses 950 1,100 Net gains on equity securities - 1,360 Noninterest income, excluding net gains on equity securities 9,826 9,134 Noninterest expense 52,552 51,362 Net income 29,314 24,677 Per share Net income per share: - Basic $ 1.54 1.30 - Diluted 1.54 1.30 Cash dividends 0.72 0.72 Book value at period end 36.75 34.46 Market price at period end 33.42 28.77 Performance ratios Return on average assets 0.94 % 0.81 Return on average equity 8.61 7.65 Efficiency ratio (GAAP) 57.16 60.53 Adjusted Efficiency ratio (1) 56.56 61.40 Net interest spread 2.24 2.05 Net interest margin 2.68 2.48 Dividend payout ratio 46.58 55.51 (1) Non-GAAP Financial Measure, see Non-GAAP Financial Measures Reconciliation. CONSOLIDATED STATEMENTS OF INCOME (dollars in thousands, except per share data) (Unaudited) Three months ended 6/30/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 Interest and dividend income: Interest and fees on loans $ 54,557 $ 53,450 $ 53,024 $ 52,112 $ 50,660 Interest and dividends on securities available for sale: U. S. government sponsored enterprises 614 596 680 718 909 State and political subdivisions - - - - 1 Mortgage-backed securities and collateralized mortgage obligations - residential 1,613 1,483 1,418 1,397 1,451 Corporate bonds 210 260 358 361 362 Small Business Administration - guaranteed participation securities 75 81 84 90 94 Other securities 8 7 6 2 2 Total interest and dividends on securities available for sale 2,520 2,427 2,546 2,568 2,819 Interest on held to maturity securities: obligations - residential 54 57 59 62 65 Total interest on held to maturity securities 54 57 59 62 65 Federal Home Loan Bank stock 129 151 152 153 147 Interest on federal funds sold and other short-term investments 7,212 6,732 6,128 6,174 6,894 Total interest income 64,472 62,817 61,909 61,069 60,585 Interest expense: Interest on deposits: Interest-bearing checking 536 558 397 311 288 Savings 733 734 719 770 675 Money market deposit accounts 2,086 1,989 2,024 2,154 2,228 Time deposits 19,195 18,983 19,680 18,969 19,400 Interest on short-term borrowings 176 180 187 194 206 Total interest expense 22,726 22,444 23,007 22,398 22,797 Net interest income 41,746 40,373 38,902 38,671 37,788 Less: Provision for credit losses 650 300 400 500 500 Net interest income after provision for credit losses 41,096 40,073 38,502 38,171 37,288 Noninterest income: Trustco Financial Services income 1,818 2,120 1,778 2,044 1,609 Fees for services to customers 2,266 2,645 2,226 2,482 2,399 Net gains on equity securities - - - 23 1,360 Other 768 209 405 382 283 Total noninterest income 4,852 4,974 4,409 4,931 5,651 Noninterest expenses: Salaries and employee benefits 11,876 11,894 12,068 12,134 12,520 Net occupancy expense 4,518 4,554 4,563 4,271 4,375 Equipment expense 1,918 1,944 2,404 1,757 1,990 Professional services 1,886 1,726 1,782 1,863 1,570 Outsourced services 2,460 2,700 3,051 2,551 2,755 Advertising expense 304 361 590 339 466 FDIC and other insurance 1,136 1,188 1,113 1,112 797 Other real estate expense, net 522 28 476 204 16 Other 1,603 1,934 2,118 1,969 1,970 Total noninterest expenses 26,223 26,329 28,165 26,200 26,459 Income before taxes 19,725 18,718 14,746 16,902 16,480 Income taxes 4,686 4,443 3,465 4,027 3,929 Net income $ 15,039 $ 14,275 $ 11,281 $ 12,875 $ 12,551 Net income per common share: - Basic $ 0.79 $ 0.75 $ 0.59 $ 0.68 $ 0.66 - Diluted 0.79 0.75 0.59 0.68 0.66 Average basic shares (in thousands) 18,965 19,020 19,015 19,010 19,022 Average diluted shares (in thousands) 18,994 19,044 19,045 19,036 19,033 CONSOLIDATED STATEMENTS OF INCOME, Continued (dollars in thousands, except per share data) (Unaudited) Six Months Ended 06/30/25 06/30/24 Interest and dividend income: Interest and fees on loans $ 108,007 100,464 Interest and dividends on securities available for sale: U. S. government sponsored enterprises 1,210 1,815 State and political subdivisions - 1 Mortgage-backed securities and collateralized mortgage obligations - residential 3,096 2,945 Corporate bonds 470 838 Small Business Administration - guaranteed participation securities 156 194 Other securities 15 5 Total interest and dividends on securities available for sale 4,947 5,798 Interest on held to maturity securities: Mortgage-backed securities-residential 111 133 Total interest on held to maturity securities 111 133 Federal Home Loan Bank stock 280 299 Interest on federal funds sold and other short-term investments 13,944 13,644 Total interest income 127,289 120,338 Interest expense: Interest on deposits: Interest-bearing checking 1,094 528 Savings 1,467 1,387 Money market deposit accounts 4,075 4,570 Time deposits 38,178 39,077 Interest on short-term borrowings 356 410 Total interest expense 45,170 45,972 Net interest income 82,119 74,366 Less: Provision for credit losses 950 1,100 Net interest income after provision for credit losses 81,169 73,266 Noninterest income: Trustco Financial Services income 3,938 3,425 Fees for services to customers 4,911 5,144 Net gains on equity securities - 1,360 Other 977 565 Total noninterest income 9,826 10,494 Noninterest expenses: Salaries and employee benefits 23,770 23,947 Net occupancy expense 9,072 8,986 Equipment expense 3,862 3,728 Professional services 3,612 3,030 Outsourced services 5,160 5,256 Advertising expense 665 874 FDIC and other insurance 2,324 1,891 Other real estate expense, net 550 90 Other 3,537 3,560 Total noninterest expenses 52,552 51,362 Income before taxes 38,443 32,398 Income taxes 9,129 7,721 Net income $ 29,314 24,677 Net income per common share: - Basic $ 1.54 1.30 - Diluted 1.54 1.30 Average basic shares (in thousands) 18,992 19,023 Average diluted shares (in thousands) 19,019 19,033 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (dollars in thousands) (Unaudited) 6/30/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 ASSETS: Cash and due from banks $ 45,218 $ 48,782 $ 47,364 $ 49,659 $ 42,193 Federal funds sold and other short term investments 668,373 707,355 594,448 473,306 493,920 Total cash and cash equivalents 713,591 756,137 641,812 522,965 536,113 Securities available for sale: U. S. government sponsored enterprises 71,241 65,942 85,617 90,588 106,796 States and political subdivisions 18 18 18 26 26 Mortgage-backed securities and collateralized mortgage obligations - residential 221,721 219,333 213,128 222,841 218,311 Small Business Administration - guaranteed participation securities 12,945 13,683 14,141 15,171 15,592 Corporate bonds 29,943 24,779 44,581 54,327 53,764 Other securities 698 698 700 701 688 Total securities available for sale 336,566 324,453 358,185 383,654 395,177 Held to maturity securities: Mortgage-backed securities and collateralized mortgage obligations-residential 4,836 5,090 5,365 5,636 5,921 Total held to maturity securities 4,836 5,090 5,365 5,636 5,921 Federal Reserve Bank and Federal Home Loan Bank stock 6,601 6,507 6,507 6,507 6,507 Loans: Commercial 314,273 302,753 286,857 280,261 282,441 Residential mortgage loans 4,394,317 4,380,561 4,388,302 4,382,674 4,370,640 Home equity line of credit 435,433 419,806 409,261 393,418 370,063 Installment loans 12,678 13,017 13,638 14,503 15,168 Loans, net of deferred net costs 5,156,701 5,116,137 5,098,058 5,070,856 5,038,312 Less: Allowance for credit losses on loans 51,265 50,606 50,248 49,950 49,772 Net loans 5,105,436 5,065,531 5,047,810 5,020,906 4,988,540 Bank premises and equipment, net 38,129 37,178 33,782 33,324 33,466 Operating lease right-of-use assets 36,322 34,968 36,627 37,958 38,376 Other assets 106,894 108,681 108,656 98,730 102,544 Total assets $ 6,348,375 $ 6,338,545 $ 6,238,744 $ 6,109,680 $ 6,106,644 LIABILITIES: Deposits: Demand $ 784,351 $ 793,306 $ 762,101 $ 753,878 $ 745,227 Interest-bearing checking 1,045,043 1,067,948 1,027,540 988,527 1,029,606 Savings accounts 1,082,489 1,094,968 1,086,534 1,092,038 1,144,427 Money market deposit accounts 467,087 478,872 465,049 477,113 517,445 Time deposits 2,111,344 2,061,576 2,049,759 1,952,635 1,840,262 Total deposits 5,490,314 5,496,670 5,390,983 5,264,191 5,276,967 Short-term borrowings 82,370 82,275 84,781 91,450 89,720 Operating lease liabilities 39,350 38,324 40,159 41,469 42,026 Accrued expenses and other liabilities 43,536 33,468 46,478 43,549 42,763 Total liabilities 5,655,570 5,650,737 5,562,401 5,440,659 5,451,476 SHAREHOLDERS' EQUITY: Capital stock 20,097 20,097 20,097 20,058 20,058 Surplus 259,490 259,182 258,874 257,644 257,490 Undivided profits 462,158 453,931 446,503 442,079 436,048 Accumulated other comprehensive income (loss), net of tax 1,663 (132 ) (3,861 ) (6,600 ) (14,268 ) Treasury stock at cost (50,603 ) (45,270 ) (45,270 ) (44,160 ) (44,160 ) Total shareholders' equity 692,805 687,808 676,343 669,021 655,168 Total liabilities and shareholders' equity $ 6,348,375 $ 6,338,545 $ 6,238,744 $ 6,109,680 $ 6,106,644 Outstanding shares (in thousands) 18,851 19,020 19,020 19,010 19,010 NONPERFORMING ASSETS (dollars in thousands) (Unaudited) 6/30/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 Nonperforming Assets New York and other states* Loans in nonaccrual status: Commercial $ 684 $ 688 $ 343 $ 466 $ 741 Real estate mortgage - 1 to 4 family 14,048 14,795 14,671 15,320 14,992 Installment 34 139 108 163 131 Total nonperforming loans 14,766 & 15,622 15,122 15,949 15,864 Other real estate owned 1,136 2,107 2,175 2,503 2,334 Total nonperforming assets $ 15,902 $ 17,729 $ 17,297 $ 18,452 $ 18,198 Florida Loans in nonaccrual status: Commercial $ - $ - $ - $ 314 $ 314 Real estate mortgage - 1 to 4 family 3,132 3,135 3,656 3,176 2,985 Installment 12 3 22 5 22 Total nonperforming loans 3,144 3,138 3,678 3,495 3,321 Other real estate owned - - - - - Total nonperforming assets $ 3,144 $ 3,138 $ 3,678 $ 3,495 $ 3,321 Total Loans in nonaccrual status: Commercial $ 684 $ 688 $ 343 $ 780 $ 1,055 Real estate mortgage - 1 to 4 family 17,180 17,930 18,327 18,496 17,977 Installment 46 142 130 168 153 Total nonperforming loans 17,910 18,760 18,800 19,444 19,185 Other real estate owned 1,136 2,107 2,175 2,503 2,334 Total nonperforming assets $ 19,046 $ 20,867 $ 20,975 $ 21,947 $ 21,519 Quarterly Net (Recoveries) Chargeoffs New York and other states* Commercial $ - $ (3 ) $ 62 $ 65 $ - Real estate mortgage - 1 to 4 family (121 ) 41 (316 ) 104 (74 ) Installment 18 4 41 11 (2 ) Total net chargeoffs (recoveries) $ (103 ) $ 42 $ (213 ) $ 180 $ (76 ) Florida Commercial $ - $ (315 ) $ 314 $ - $ - Real estate mortgage - 1 to 4 family - - - - 17 Installment 94 15 1 42 7 Total net (recoveries) chargeoffs $ 94 $ (300 ) $ 315 $ 42 $ 24 Total Commercial $ - $ (318 ) $ 376 $ 65 $ - Real estate mortgage - 1 to 4 family (121 ) 41 (316 ) 104 (57 ) Installment 112 19 42 53 5 Total net (recoveries) chargeoffs $ (9 ) $ (258 ) $ 102 $ 222 $ (52 ) Asset Quality Ratios Total nonperforming loans (1) $ 17,910 $ 18,760 $ 18,800 $ 19,444 $ 19,185 Total nonperforming assets (1) 19,046 20,867 20,975 21,947 21,519 Total net (recoveries) chargeoffs (2) (9 ) (258 ) 102 222 (52 ) Allowance for credit losses on loans (1) 51,265 50,606 50,248 49,950 49,772 Nonperforming loans to total loans 0.35 % 0.37 % 0.37 % 0.38 % 0.38 % Nonperforming assets to total assets 0.30 % 0.33 % 0.34 % 0.36 % 0.35 % Allowance for credit losses on loans to total loans 0.99 % 0.99 % 0.99 % 0.99 % 0.99 % Coverage ratio (1) 286.2 % 269.8 % 267.3 % 256.9 % 259.4 % Annualized net (recoveries) chargeoffs to average loans (2) 0.00 % -0.02 % 0.01 % 0.02 % 0.00 % Allowance for credit losses on loans to annualized net chargeoffs (2) N/A N/A 123.2x 56.3x N/A * Includes New York, New Jersey, Vermont and Massachusetts. (1) At period-end (2) For the three-month period ended DISTRIBUTION OF ASSETS, LIABILITIES AND SHAREHOLDERS' EQUITY - INTEREST RATES AND INTEREST DIFFERENTIAL (dollars in thousands) (Unaudited) Three months ended Three months ended June 30, 2025 June 30, 2024 Average Interest Average Average Interest Average Balance Rate Balance Rate Assets Securities available for sale: U. S. government sponsored enterprises $ 73,468 $ 614 3.34 % $ 113,844 $ 909 3.20 % Mortgage backed securities and collateralized mortgage obligations - residential 244,628 1,613 2.62 250,517 1,451 2.30 State and political subdivisions 18 0 6.77 26 1 6.75 Corporate bonds 25,707 210 3.26 55,065 362 2.63 Small Business Administration - guaranteed participation securities 14,083 75 2.14 17,436 94 2.15 Other 697 8 4.59 694 2 1.15 Total securities available for sale 358,601 2,520 2.81 437,582 2,819 2.58 Federal funds sold and other short-term Investments 648,457 7,212 4.46 506,493 6,894 5.48 Held to maturity securities: Mortgage backed securities and collateralized mortgage obligations - residential 4,970 54 4.37 6,054 65 4.28 Total held to maturity securities 4,970 54 4.37 6,054 65 4.28 Federal Home Loan Bank stock 6,591 129 7.83 6,340 147 9.27 Commercial loans 306,373 4,261 5.56 280,559 3,765 5.37 Residential mortgage loans 4,387,181 43,236 3.94 4,359,232 40,819 3.75 Home equity lines of credit 428,933 6,830 6.39 364,210 5,814 6.42 Installment loans 12,523 230 7.35 15,395 262 6.86 Loans, net of unearned income 5,135,010 54,557 4.25 5,019,396 50,660 4.04 Total interest earning assets 6,153,629 $ 64,472 4.19 5,975,865 $ 60,585 4.06 Allowance for credit losses on loans (50,777 ) (49,454 ) Cash & non-interest earning assets 204,006 181,688 Total assets $ 6,306,858 $ 6,108,099 Liabilities and shareholders' equity Deposits: Interest bearing checking accounts $ 1,039,242 $ 536 0.21 % $ 1,009,048 $ 288 0.11 % Money market accounts 470,824 2,086 1.78 524,068 2,228 1.71 Savings 1,087,467 733 0.27 1,145,922 675 0.24 Time deposits 2,085,329 19,195 3.69 1,873,139 19,400 4.17 Total interest bearing deposits 4,682,862 22,550 1.93 4,552,177 22,591 2.00 Short-term borrowings 81,055 176 0.87 93,703 206 0.89 Total interest bearing liabilities 4,763,917 $ 22,726 1.91 4,645,880 $ 22,797 1.97 Demand deposits 777,956 735,262 Other liabilities 73,903 76,258 Shareholders' equity 691,082 650,699 Total liabilities and shareholders' equity $ 6,306,858 $ 6,108,099 Net interest income $ 41,746 $ 37,788 Net interest spread 2.28 % 2.09 % Net interest margin (net interest income to total interest earning assets) 2.71 % 2.53 % DISTRIBUTION OF ASSETS, LIABILITIES AND SHAREHOLDERS' EQUITY - INTEREST RATES AND INTEREST DIFFERENTIAL, Continued (dollars in thousands) (Unaudited) Six Months Ended Six Months Ended June 30, 2025 June 30, 2024 Average Interest Average Average Interest Average Balance Rate Balance Rate Assets Securities available for sale: U. S. government sponsored enterprises $ 74,071 1,210 3.27 % $ 119,908 1,815 3.03 % Mortgage backed securities and collateralized mortgage obligations - residential 242,083 3,096 2.56 254,665 2,945 2.31 State and political subdivisions 18 - 6.77 26 1 6.82 Corporate bonds 32,823 470 2.86 64,345 838 2.60 Small Business Administration - guaranteed participation securities 14,540 156 2.15 17,830 194 2.18 Mortgage backed securities and collateralized mortgage obligations - commercial - - - - Other 698 15 4.30 695 5 1.44 Total securities available for sale 364,233 4,947 2.72 457,469 5,798 2.53 Federal funds sold and other short-term Investments 631,148 13,944 4.46 502,072 13,644 5.47 Held to maturity securities: Mortgage backed securities and collateralized mortgage obligations - residential 5,101 111 4.35 6,192 133 4.29 Total held to maturity securities 5,101 111 4.35 6,192 133 4.29 Federal Home Loan Bank stock 6,549 280 8.55 6,271 299 9.54 Commercial loans 302,173 8,426 5.58 278,871 7,425 5.33 Residential mortgage loans 4,386,418 85,851 3.92 4,359,351 81,236 3.73 Home equity lines of credit 421,498 13,265 6.35 358,607 11,277 6.32 Installment loans 12,744 465 7.36 15,761 526 6.72 Loans, net of unearned income 5,122,833 108,007 4.22 5,012,590 100,464 4.01 Total interest earning assets 6,129,864 127,289 4.16 5,984,594 120,338 4.03 Allowance for credit losses on loans (50,627 ) (49,139 ) Cash & non-interest earning assets 202,590 188,364 Total assets $ 6,281,827 $ 6,123,819 Liabilities and shareholders' equity Deposits: Interest bearing checking accounts $ 1,038,733 1,094 0.21 % $ 999,589 528 0.11 % Money market accounts 469,952 4,075 1.75 534,378 4,570 1.72 Savings 1,088,408 1,467 0.27 1,152,241 1,387 0.24 Time deposits 2,069,998 38,178 3.72 1,881,535 39,077 4.18 Total interest bearing deposits 4,667,091 44,814 1.94 4,567,743 45,562 2.01 Short-term borrowings 82,125 356 0.87 93,510 410 0.88 Total interest bearing liabilities 4,749,216 45,170 1.92 4,661,253 45,972 1.98 Demand deposits 769,923 730,781 Other liabilities 76,308 83,105 Shareholders' equity 686,380 648,680 Total liabilities and shareholders' equity $ 6,281,827 $ 6,123,819 Net interest income 82,119 74,366 Net interest spread 2.24 % 2.05 % Net interest margin (net interest income to total interest earning assets) 2.68 % 2.48 %Non-GAAP Financial Measures Reconciliation Tangible book value per share is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible book value by excluding the balance of intangible assets from total shareholders' equity divided by shares outstanding. We believe that this is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios. Additionally, we believe that this measure is important to many investors in the marketplace who are interested in relative changes from period to period in equity exclusive of changes in intangible assets. Tangible equity as a percentage of tangible assets at period end is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible equity and tangible assets by excluding the balance of intangible assets from total shareholders' equity and total assets, respectively. We calculate tangible equity as a percentage of tangible assets at period end by dividing tangible equity by tangible assets at period end. We believe that this is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios. Additionally, we believe that this measure is important to many investors in the marketplace who are interested in relative changes from period to period in equity and total assets, each exclusive of changes in intangible assets. Adjusted efficiency ratio is a non-GAAP measures of expense control relative to revenue from net interest income and non-interest fee income. We calculate the efficiency ratio by dividing total non-interest expense by the sum of net interest income and total non-interest income. We calculate the adjusted efficiency ratio by dividing total noninterest expenses as determined under GAAP, excluding other real estate expense, net, by net interest income and total noninterest income as determined under GAAP, excluding net gains on equity securities. We believe that this provides a reasonable measure of primary banking expenses relative to primary banking revenue. Additionally, we believe this measure is important to investors looking for a measure of efficiency in our productivity measured by the amount of revenue generated for each dollar spent. We believe that these non-GAAP financial measures provide information that is important to investors and that is useful in understanding our financial results. Our management internally assesses our performance based, in part, on these measures. However, these non-GAAP financial measures are supplemental and not a substitute for an analysis based on GAAP measures. As other companies may use different calculations for these measures, this presentation may not be comparable to other similarly titled measures reported by other companies. A reconciliation of the non-GAAP measures of tangible book value to shares outstanding, tangible equity as a percentage of tangible assets, and efficiency ratio to the most directly comparable GAAP measures is set forth below. NON-GAAP FINANCIAL MEASURES RECONCILIATION (dollars in thousands) (Unaudited) 6/30/2025 3/31/2025 6/30/2024 Tangible Book Value Per Share Equity (GAAP) $ 692,805 $ 687,808 $ 655,168 Less: Intangible assets 553 553 553 Tangible equity (Non-GAAP) $ 692,252 $ 687,255 $ 654,615 Shares outstanding 18,851 19,020 19,010 Tangible book value per share 36.72 36.13 34.44 Book value per share 36.75 36.16 34.46 Tangible Equity to Tangible Assets Total Assets (GAAP) $ 6,348,375 $ 6,338,545 $ 6,106,644 Less: Intangible assets 553 553 553 Tangible assets (Non-GAAP) $ 6,347,822 $ 6,337,992 $ 6,106,091 Consolidated Equity to Assets (GAAP) 10.91 % 10.85 % 10.73 % Consolidated Tangible Equity to Tangible Assets (Non-GAAP) 10.91 % 10.84 % 10.72 % Three months ended Six Months Ended Efficiency and Adjusted Efficiency Ratios 6/30/2025 3/31/2025 6/30/2024 6/30/2025 6/30/2024 Net interest income (GAAP) A $ 41,746 $ 40,373 $ 37,788 $ 82,119 $ 74,366 Non-interest income (GAAP) B 4,852 4,974 5,651 9,826 10,494 Less: Net gains on equity securities - - 1,360 - 1,360 Revenue used for efficiency ratio (Non-GAAP) C $ 46,598 $ 45,347 $ 42,079 $ 91,945 $ 83,500 Total noninterest expense (GAAP) D $ 26,223 $ 26,329 $ 26,459 $ 52,552 $ 51,362 Less: Other real estate expense, net E 522 28 16 550 90 Expense used for efficiency ratio (Non-GAAP) F $ 25,701 $ 26,301 $ 26,443 $ 52,002 $ 51,272 Efficiency Ratio (GAAP) D/(A+B) 56.27 % 58.06 % 60.91 % 57.16 % 60.53 % Adjusted Efficiency Ratio (Non-GAAP) F/C 55.15 % 58.00 % 62.84 % 56.56 % 61.40 %Subsidiary: Trustco Bank Contact: Robert Leonard Executive Vice President (518) 381-3693Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
