2021 Q4 Form 10-Q Financial Statement

#000114036121036838 Filed on November 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $41.66M
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.000M $1.100M $1.000M
YoY Change 0.0% 10.0% 0.0%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $1.775M
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $21.63M $22.29M $18.83M
YoY Change 21.38% 18.37% -3.44%
Income Tax $5.390M $5.520M $4.760M
% Of Pretax Income 24.92% 24.76% 25.28%
Net Earnings $16.24M $16.76M $14.07M
YoY Change 17.6% 19.12% -4.33%
Net Earnings / Revenue 40.23%
Basic Earnings Per Share $0.87 $0.73
Diluted Earnings Per Share $845.0K $0.87 $0.73
COMMON SHARES
Basic Shares Outstanding 19.22M 19.25M 19.29M
Diluted Shares Outstanding 19.25M 19.29M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $1.219B $1.193B $956.3M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $33.03M $79.10M $81.60M
YoY Change -4.02% -3.06% -2.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $6.197B $6.135B $5.736B
YoY Change 4.99% 6.95% 9.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $82.60M $76.40M $82.90M
YoY Change 1.1% -7.84% -1.31%
Deferred Revenue
YoY Change
Short-Term Debt $244.7M $230.8M $193.5M
YoY Change 13.94% 19.28% 28.06%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $82.60M $76.40M $82.90M
YoY Change 1.1% -7.84% -1.31%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $82.60M $76.40M $82.90M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $5.595B $5.548B $5.175B
YoY Change 4.91% 7.2% 10.2%
SHAREHOLDERS EQUITY
Retained Earnings $349.1M
YoY Change 11.17%
Common Stock $276.7M
YoY Change 0.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $601.1M $586.7M $560.5M
YoY Change
Total Liabilities & Shareholders Equity $6.197B $6.135B $5.736B
YoY Change 4.99% 6.95% 9.83%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $16.24M $16.76M $14.07M
YoY Change 17.6% 19.12% -4.33%
Depreciation, Depletion And Amortization $1.000M $1.100M $1.000M
YoY Change 0.0% 10.0% 0.0%
Cash From Operating Activities $11.30M $16.40M $19.60M
YoY Change -20.98% -16.33% 1.03%
INVESTING ACTIVITIES
Capital Expenditures -$800.0K -$600.0K -$1.400M
YoY Change -20.0% -57.14% 27.27%
Acquisitions
YoY Change
Other Investing Activities -$18.80M -$200.0K -$58.00M
YoY Change 22.88% -99.66% -44.81%
Cash From Investing Activities -$19.70M -$800.0K -$59.40M
YoY Change 20.86% -98.65% -44.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 34.60M -4.700M 43.40M
YoY Change -77.36% -110.83% -292.04%
NET CHANGE
Cash From Operating Activities 11.30M 16.40M 19.60M
Cash From Investing Activities -19.70M -800.0K -59.40M
Cash From Financing Activities 34.60M -4.700M 43.40M
Net Change In Cash 26.20M 10.90M 3.600M
YoY Change -82.63% 202.78% -103.29%
FREE CASH FLOW
Cash From Operating Activities $11.30M $16.40M $19.60M
Capital Expenditures -$800.0K -$600.0K -$1.400M
Free Cash Flow $12.10M $17.00M $21.00M
YoY Change -20.92% -19.05% 2.44%

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OtherRealEstateMortgageLoans
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FinancingReceivableRecordedInvestmentNonaccrualStatusAndOtherNonperformingRealEstateMortgages
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OtherRealEstateMortgageLoans
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CY2020Q4 trst Financing Receivable Recorded Investment Nonaccrual Status And Other Nonperforming Real Estate Mortgages
FinancingReceivableRecordedInvestmentNonaccrualStatusAndOtherNonperformingRealEstateMortgages
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CY2021Q3 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
511000
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RealEstateAcquiredThroughForeclosure
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4396729000
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P90D
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0
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FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
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CY2021Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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FinancingReceivableAllowanceForCreditLossWriteoffAfterRecovery
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CY2021Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
47350000
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FinancingReceivableAllowanceForCreditLosses
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FinancingReceivableAllowanceForCreditLossesWriteOffs
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FinancingReceivableAllowanceForCreditLossesRecovery
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FinancingReceivableAllowanceForCreditLossWriteoffAfterRecovery
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ProvisionForLoanLossesExpensed
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FinancingReceivableAllowanceForCreditLosses
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FinancingReceivableAllowanceForCreditLosses
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us-gaap Financing Receivable Allowance For Credit Losses Recovery
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FinancingReceivableAllowanceForCreditLosses
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FinancingReceivableAllowanceForCreditLosses
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us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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FinancingReceivableAllowanceForCreditLossesRecovery
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us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
FinancingReceivableAllowanceForCreditLossWriteoffAfterRecovery
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us-gaap Provision For Loan Losses Expensed
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CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
49123000
CY2021Q3 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
0
us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
FinancingReceivableAllowanceForCreditLossWriteoffAfterRecovery
-205000
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
-2450000
CY2021Q3 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
47350000
CY2021Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
47350000
CY2021Q3 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
19813000
CY2021Q3 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
4376916000
CY2021Q3 us-gaap Notes Receivable Gross
NotesReceivableGross
4396729000
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
0
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
49595000
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
49595000
CY2020Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
21581000
CY2020Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
4222889000
CY2020Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
4244470000
CY2021Q3 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
19813000
CY2021Q3 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
20351000
CY2021Q3 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
0
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
20744000
CY2020Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
21581000
CY2020Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
22253000
CY2020Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
0
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ImpairedFinancingReceivableAverageRecordedInvestment
20814000
CY2021Q3 trst Tdr S Classifications From Previously Performing Loans
TdrSClassificationsFromPreviouslyPerformingLoans
10900000
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TdrSClassificationsFromPreviouslyPerformingLoans
11700000
trst Deferral Period Of Past Due Loans
DeferralPeriodOfPastDueLoans
P60M
trst Number Of Days Past Due When Loans Considered In Payment Default Under Modified Terms
NumberOfDaysPastDueWhenLoansConsideredInPaymentDefaultUnderModifiedTerms
P90D
trst Number Of Days Past Due Loan Considered In Payment Default
NumberOfDaysPastDueLoanConsideredInPaymentDefault
P30D
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ImpairedLoansIncludedInClassifiedLoans
297000
CY2020Q4 trst Impaired Loans Included In Classified Loans
ImpairedLoansIncludedInClassifiedLoans
796000
CY2020Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2020Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2021Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2021Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2021Q3 trst Other Real Estate Owned Commercial Real Estate Fair Value Disclosure
OtherRealEstateOwnedCommercialRealEstateFairValueDisclosure
0
CY2021Q3 us-gaap Real Estate Owned Valuation Allowance Amounts Applied
RealEstateOwnedValuationAllowanceAmountsApplied
0
us-gaap Real Estate Owned Valuation Allowance Amounts Applied
RealEstateOwnedValuationAllowanceAmountsApplied
121000
CY2021Q3 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
19800000
CY2021Q3 trst Collateral Dependent Impaired Financing Receivable Recorded Investment
CollateralDependentImpairedFinancingReceivableRecordedInvestment
0
CY2021Q3 us-gaap Real Estate Owned Valuation Allowance
RealEstateOwnedValuationAllowance
0
CY2021Q3 trst Gross Charge Offs Residential Impaired Loans
GrossChargeOffsResidentialImpairedLoans
0
trst Gross Charge Offs Residential Impaired Loans
GrossChargeOffsResidentialImpairedLoans
0
CY2020 us-gaap Real Estate Owned Valuation Allowance Amounts Applied
RealEstateOwnedValuationAllowanceAmountsApplied
120000
CY2020Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
21600000
CY2020Q4 trst Collateral Dependent Impaired Financing Receivable Recorded Investment
CollateralDependentImpairedFinancingReceivableRecordedInvestment
211000
CY2020Q4 us-gaap Real Estate Owned Valuation Allowance
RealEstateOwnedValuationAllowance
0
CY2020 trst Gross Charge Offs Residential Impaired Loans
GrossChargeOffsResidentialImpairedLoans
10000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1193339000
CY2021Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
434552000
CY2021Q3 trst Debt Securities Held To Maturity Fair Value Disclosures
DebtSecuritiesHeldToMaturityFairValueDisclosures
11646000
CY2021Q3 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
4419921000
CY2021Q3 trst Interest Receivable Fair Value Disclosure
InterestReceivableFairValueDisclosure
9358000
CY2021Q3 trst Demand Deposit Accounts Fair Value Disclosure
DemandDepositAccountsFairValueDisclosure
790663000
CY2021Q3 trst Interest Bearing Deposit Fair Value Disclosure
InterestBearingDepositFairValueDisclosure
4449708000
CY2021Q3 us-gaap Shortterm Debt Fair Value
ShorttermDebtFairValue
230770000
CY2021Q3 trst Interest Payable Fair Value Disclosure
InterestPayableFairValueDisclosure
225000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1107099000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
439071000
CY2020Q4 trst Debt Securities Held To Maturity Fair Value Disclosures
DebtSecuritiesHeldToMaturityFairValueDisclosures
14988000
CY2020Q4 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
4287585000
CY2020Q4 trst Interest Receivable Fair Value Disclosure
InterestReceivableFairValueDisclosure
10031000
CY2020Q4 trst Demand Deposit Accounts Fair Value Disclosure
DemandDepositAccountsFairValueDisclosure
652756000
CY2020Q4 trst Interest Bearing Deposit Fair Value Disclosure
InterestBearingDepositFairValueDisclosure
4386439000
CY2020Q4 us-gaap Shortterm Debt Fair Value
ShorttermDebtFairValue
214755000
CY2020Q4 trst Interest Payable Fair Value Disclosure
InterestPayableFairValueDisclosure
474000
CY2021Q3 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-566000
CY2021Q3 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-30000
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-536000
CY2020Q3 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-198000
CY2020Q3 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
201000
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-399000
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-4405000
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
227000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-4632000
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
8432000
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
1356000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
7076000
CY2021Q3 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0
CY2020Q3 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
1155000
CY2021Q3 trst Other Non Interest Income
OtherNonInterestIncome
154000
CY2020Q3 trst Other Non Interest Income
OtherNonInterestIncome
419000
trst Other Non Interest Income
OtherNonInterestIncome
513000
trst Other Non Interest Income
OtherNonInterestIncome
1043000
CY2021Q3 us-gaap Noninterest Income
NoninterestIncome
4295000
CY2020Q3 us-gaap Noninterest Income
NoninterestIncome
4341000
us-gaap Noninterest Income
NoninterestIncome
13411000
us-gaap Noninterest Income
NoninterestIncome
13101000
CY2021Q3 trst Number Of Leases For Which Construction Not Started
NumberOfLeasesForWhichConstructionNotStarted
1
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y8M12D
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
2010000
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1966000
CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
499000
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
369000
CY2021Q3 us-gaap Lease Cost
LeaseCost
2509000
CY2020Q3 us-gaap Lease Cost
LeaseCost
2335000
us-gaap Operating Lease Cost
OperatingLeaseCost
6029000
us-gaap Operating Lease Cost
OperatingLeaseCost
5893000
us-gaap Variable Lease Cost
VariableLeaseCost
1508000
us-gaap Variable Lease Cost
VariableLeaseCost
1524000
us-gaap Lease Cost
LeaseCost
7537000
us-gaap Lease Cost
LeaseCost
7417000
us-gaap Operating Lease Payments
OperatingLeasePayments
6121000
us-gaap Operating Lease Payments
OperatingLeasePayments
6022000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2696000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
287000
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y8M12D
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y10M24D
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0307
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0325
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2072000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
8014000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
7719000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
7595000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
7223000
CY2021Q3 trst Lessee Operating Lease Liability To Be Paid Due After Year Four
LesseeOperatingLeaseLiabilityToBePaidDueAfterYearFour
25291000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
57914000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
7399000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
50515000
CY2020Q1 trst Reduction In Overnight Federal Funds Rate
ReductionInOvernightFederalFundsRate
0.0050
CY2020Q1 trst Reduction In Overnight Federal Funds Rate
ReductionInOvernightFederalFundsRate
0.0100

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