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    Ian Lapey • Gabelli Funds

    Ian Lapey's questions to Cavco Industries Inc (CVCO) leadership

    Ian Lapey's questions to Cavco Industries Inc (CVCO) leadership • Q1 2026

    Question

    Ian Lapey from Gabelli Funds inquired about the drivers for the quarter's higher capital expenditures and whether spending would return to lower, more typical levels in the future.

    Answer

    President and CEO William Boor and EVP and CFO Allison Aden clarified that the increased CapEx was not related to the recent brand realignment but was driven by a series of successful, high-return investments in plant modernization and efficiency. They indicated that while spending can be lumpy based on project timing, the Q1 level does not signal a new, sustained upward trend in capital spending.

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    Ian Lapey's questions to TrustCo Bank Corp NY (TRST) leadership

    Ian Lapey's questions to TrustCo Bank Corp NY (TRST) leadership • Q2 2025

    Question

    Ian Lapey of Gabelli Funds asked about the geographic source of strong loan demand, comparing Florida to the Northeast. He also inquired about the interest rates on maturing CDs versus new offerings and the composition of the commercial loan portfolio.

    Answer

    President, CEO & Chairman Robert McCormick confirmed strong loan demand in both Florida and the Northeast, with Florida being slightly stronger. EVP & CFO Michael Ozimek noted that maturing CDs average a 3.91% rate, while new CDs are being issued around 4%. McCormick added that over 90% of the commercial loan portfolio is secured by real estate, focusing on smaller multifamily and office projects.

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