- TrustCo Bank
Infobox Company
name = TrustCo Bank Corp. NY
company_
type = Public (nyse|TRST
slogan = Your Home Town Bank
foundation =Upstate New York , (1902)
location=Glenville,New York ,United States
key_people =Robert Joseph McCormick , President, Chief Exec. Officer
Robert Thomas Cushing , Executive VP, Chief Financial OfficerJoseph Anthony Lucarelli , Director, Chairman of Compensation Committee, Pres of Traditional Builders
industry =Banking
products =Financial Services
revenue = $111.7 million USD (2007)
net_income = $39.47 million USD (2007)
homepage = [http://www.trustcobank.com Official website]TrustCo Bank (abbreviation of TrustCo Bank Corp. NY) (NYSE|TRST) is a commercial bank within the
United States . Trustco was founded in New York in 1902 and is now headquartered in Glenville, NY. Trustco has 115 branches withinNew York ,Florida ,Massachusetts , andNew Jersey . Presently, Trustco operates under the slogan, "Your Hometown Bank."Services
The Group's principal activity is to provide general commercial banking business to individuals, partnerships, corporations and governments of New York. The Group provides commercial, construction, residential mortgage, home equity lines of credit and installment loans. It also accepts demand, savings, checking accounts, money market accounts and certificates of deposit from customers. Its commercial lending activities are focused on balancing the Company's commitment to meeting the credit needs of businesses in its market area with the necessity of managing its credit risk. During 2007, 16 new branches were added to the franchise. The Group operates 108 automatic teller machines and 107 banking offices in Albany, Columbia, Dutchess, Greene, Montgomery, Rensselaer, Rockland, Saratoga, Schenectady, Schoharie, Warren, Washington and Westchester.
Recently they have released two new banking services in the accounts category. First is their free checking with interest account, which has a no minimum balance, no fee's, free checks for life, and earns interest at the same rate as a savings account. They have also introduced their free business checking which has no transaction limits.
Trustco bank is a portfolio lender, which means it does not sell or trade any loans. Trustco bank offers first and second mortgages, and has a full service commercial lending department.
Trustcos current account promotion is a $75 gas card receivable when a customer opens a new checking account and receives a first direct deposit into that account. This promotion can also be redeemed at $100 is the customer also opens a new savings and retains at least the minimum balance during the period in which the direct deposit is received.
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