TrustCo Bank Corp NY (TRST) 8-K Results of Operations and Financial Condition

TRUSTCO	Exhibit 99 (a)
Bank Corp NY	News Release
5 Sarnowski Drive, Glenville, New York, 12302
(518) 377-3311  Fax:  (518) 381-3668

Subsidiary:  Trustco Bank NASDAQ -- TRST

Contact: Kevin T. Timmons

Vice President/Treasurer

(518) 381-3607

FOR IMMEDIATE RELEASE

TrustCo Announces First Quarter Profits

Up 12.6% from Fourth Quarter of 2007

Glenville, New York – April 15, 2008

TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced net income for the first quarter of 2008 of $9.4 million, equal to diluted earnings per share of $0.125, as compared to net income of $8.4 million and diluted earnings per share of $0.111 for the immediately preceding quarter.  Return on average equity and return on average assets were 16.48% and 1.13%, respectively, for the first quarter of 2008, compared to 14.56% and 1.00% for the fourth quarter of 2007.  Making the earnings announcement was Robert J. McCormick, President and Chief Executive Officer.  Mr. McCormick noted, "The difficult operating conditions facing the banking industry in 2007 continued into the first quarter of 2008, causing significant problems for some banks.  TrustCo has never been involved in subprime lending, which has been the biggest cause of these widely reported problems.  TrustCo's long-term focus on traditional lending criteria has helped it avoid any direct impact from these problems.  This has enabled us to report return on equity levels that remain among the leaders in our industry, and perhaps more importantly, maintain an extremely strong balance sheet."

In the first quarter of 2007, net income was $12.3 million and earnings per share were $0.164. This resulted in return on average equity and return on average assets of 21.67% and 1.57%, respectively, for the first quarter of 2007.  Results for the first quarter of 2007 included unrealized trading gains of $3.4 million, compared to $0.7 million in the first quarter of 2008, skewing comparisons between the two periods.

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TrustCo continued to report impressive growth in both deposits and loans on a year-over-year basis.  For the quarter ended March 31, 2008, average deposits were up $183.1 million, an increase of 6.5% compared to the first quarter of 2007.  Average loans showed similar results, rising $167.9 million or 9.4% compared to the same period in 2007.  During the first quarter of 2008, TrustCo opened four offices to bring the total to 111.  Sixteen offices were opened during 2007.  Current plans call for the expansion program to continue in 2008 with new branches planned in the markets currently served.  Mr. McCormick noted that, "We are pleased with the results of our expansion program but are mindful that achieving our profit goals will take time and continued hard work."

The Company's net interest margin was 3.07% for the first quarter of 2008, compared to 3.16% for the first quarter of 2007, but equal to the level recorded in the fourth quarter of 2007.  Net income was also impacted by a loan loss provision of $0.3 million for the first quarter of 2008, compared to a zero provision in the first quarter of 2007 and a provision of $2.5 million for the fourth quarter of 2007.

Nonperforming loans continue at low levels and reserve coverage of those loans remains strong.  At March 31, 2008, nonperforming loans were equal to 0.89% of total loans, while the allowance for loan losses was 2.0 times nonperforming loans.

TrustCo Bank Corp is a $3.4 billion bank holding company and through its subsidiary, Trustco Bank, operates 111 offices in New York, New Jersey, Vermont, Massachusetts, and Florida.

In addition, the Bank operates a full service Trust Department.  The common shares of TrustCo are traded on The NASDAQ Global Select Market under the symbol TRST.

Except for the historical information contained herein, the matters discussed in this news release and other information contained in TrustCo's Securities and Exchange Commission filings may express "forward-looking statements."  Those "forward-looking statements" may involve risk and uncertainties, including statements containing future events or performance and assumptions and other statements of historical facts.

TrustCo wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made.  The following important factors, among others, in some cases have affected and in the future could affect TrustCo's actual results, and could cause TrustCo's actual financial performance to differ materially from that expressed in any forward-looking statement:  (1) credit risk, (2) interest rate risk, (3) competition, (4) changes in the regulatory environment, (5) real estate and collateral values, and (6) changes in local market areas and general business and economic trends.  The foregoing list should not be construed as exhaustive, and the

Company disclaims any obligation to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements, or to reflect the occurrence of anticipated or unanticipated events.

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TRUSTCO BANK CORP NY

GLENVILLE, NY

FINANCIAL HIGHLIGHTS

(dollars in thousands, except per share data)

(Unaudited)

				Three Months Ended
	03/31/08			12/31/07			03/31/07
Summary of operations
Net interest income (TE)	$	25,149			24,932			24,506
Provision for loan losses		300			2,500			-
Net securities transactions		(366	)		(12	)		-
Unrealized trading gains		717			(15	)		3,445
Noninterest income		4,190			4,344			4,103
Noninterest expense		14,564			13,832			12,706
Net income		9,427			8,406			12,314
Per common share
Net income per share:
- Basic	$	0.125			0.112			0.164
- Diluted		0.125			0.111			0.164
Cash dividends		0.110			0.160			0.160
Tangible Book value at period end		3.21			3.14			3.20
Market price at period end		8.89			9.92			9.58
At period end
Full time equivalent employees		680			670			570
Full service banking offices		111			107			95
Performance ratios
Return on average assets		1.13	%		1.00			1.57
Return on average equity (1)		16.48			14.56			21.67
Efficiency (2)		49.01			46.14			43.76
Net interest spread (TE)		2.68			2.63			2.73
Net interest margin (TE)		3.07			3.07			3.16
Dividend payout ratio		88.13			143.48			97.29
Capital ratios at period end (3)
Total equity to assets		6.88	%		6.82			7.24
Tier 1 risk adjusted capital		13.32			13.53			14.02
Total risk adjusted capital		14.58			14.79			15.28
Asset quality analysis at period end
Nonperforming loans to total loans		0.89	%		0.66			0.45
Nonperforming assets to total assets		0.55			0.39			0.26
Allowance for loan losses to total loans		1.77			1.79			1.96
Coverage ratio (4)		2.0	X		2.7			4.4

(1) Average equity excludes the effect of accumulated other comprehensive income.

(2) Calculated as noninterest expense (excluding ORE income/expense, specialized consulting and any one-time charges) divided by taxable equivalent net interest income plus noninterest income (excluding net securities transactions, unrealized trading gains and losses and one-time income items).

(3) Capital ratios exclude the effect of accumulated other comprehensive income.

(4) Calculated as allowance for loan losses divided by total nonperforming loans.

TE = Taxable equivalent.

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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(dollars in thousands)

(Unaudited)

	03/31/08		12/31/07		03/31/07
ASSETS
Loans, net	$	1,924,828		1,900,263		1,764,931
Trading securities		422,925		465,151		505,690
Securities available for sale		489,605		578,892		505,663
Held to maturity securities		15,000		15,000		-
Federal funds sold and other short-term investments		409,411		286,764		335,259
Total earning assets		3,261,769		3,246,070		3,111,543
Cash and due from banks		51,662		58,156		39,435
Bank premises and equipment		30,219		29,193		24,966
Other assets		54,128		44,132		68,921
Total assets	$	3,397,778		3,377,551		3,244,865
LIABILITIES
Deposits:
Demand	$	263,415		262,863		249,034
Interest-bearing checking		285,645		293,027		280,106
Savings		613,484		609,064		657,762
Money market		331,790		341,790		330,335
Certificates of deposit (in denominations of $100,000 or more)		400,724		390,328		332,134
Other time deposits		1,143,071		1,123,226		1,032,432
Total deposits		3,038,129		3,020,298		2,881,803
Short-term borrowings		91,898		92,220		97,064
Long-term debt		21		29		51
Other liabilities		24,737		27,936		25,967
Total liabilities		3,154,785		3,140,483		3,004,885
SHAREHOLDERS' EQUITY		242,993		237,068		239,980
Total liabilities and shareholders' equity	$	3,397,778		3,377,551		3,244,865
Number of common shares outstanding, in thousands		75,527		75,326		74,899

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CONSOLIDATED STATEMENTS OF INCOME

(dollars in thousands, except per share data)

(Unaudited)

				Three Months Ended
	03/31/08			12/31/07			03/31/07
Interest income
Loans	$	30,784			31,225			28,631
Investment securities		11,554			12,904			13,211
Federal funds sold and other short term investments		2,981			3,621			3,439
Total interest income		45,319			47,750			45,281
Interest expense
Deposits		20,345			22,776			20,566
Borrowings		576			798			994
Total interest expense		20,921			23,574			21,560
Net interest income		24,398			24,176			23,721
Provision for loan losses		300			2,500			-
Net interest income after provision for loan losses		24,098			21,676			23,721
Net securities transactions		(366	)		(12	)		-
Unrealized trading gains		717			(15	)		3,445
Noninterest income		4,190			4,344			4,103
Noninterest expense		14,564			13,832			12,706
Income before income taxes		14,075			12,161			18,563
Income tax expense		4,648			3,755			6,249
Net income	$	9,427			8,406			12,314
Net income per share:
- Basic	$	0.125			0.112			0.164
- Diluted	$	0.125			0.111			0.164
Avg equivalent shares outstanding, in thousands:
- Basic		75,507			75,326			74,952
- Diluted		75,517			75,416			75,054

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