TrustCo Bank Corp. NY operates as the holding company for Trustco
Bank. The Bank provides personal and business banking services for
individuals, partnerships, corporations and other entities. The company
offers checking accounts, savings accounts, retirement accounts, time
deposits, money market accounts, and credit cards. Its loan portfolio
comprises residential and commercial mortgages, home equity lines of
credit, installment loans and commercial loans. In addition, the company
serves as executor of estates and trustee of personal trusts, employee
benefit plans, corporate pension, and profit sharing trusts. It also
provides asset and wealth management services, estate planning and
related advice, credit cards, trust and investment services, custodial
services, and online banking services.
The company currently operates 143 banking offices in Albany, Columbia,
Dutchess, Greene, Montgomery, Orange, Putnam, Rensselaer, Rockland,
Saratoga, Schenectady, Schoharie, Ulster, Warren, Washington, and
Westchester counties of New York, Brevard, Charlotte, Collier, Flagler,
Hillsborough, Flagler, Indian River, Lake, Manatee, Martin, Orange,
Osceola, Palm Beach, Polk, Sarasota, Seminole, and Volusia counties in
Florida, Bennington County in Vermont, Berkshire County in Massachusetts
and Bergen County in New Jersey. The largest part of such business
consists of accepting deposits and making loans and investments. Trustco
Bank also lends in Essex and Fulton counties of New York, Essex, Hudson,
Morris, and Passaic counties of New Jersey, Lee, Marion, Pasco,
Pinellas, St. Johns, St. Lucie, and Sumter counties of Florida, where it
has no physical locations. The company has focused on growing its branch
network outside of its traditional markets in the Capital Region of New
York State, opening offices in targeted markets in Florida and in and
around the Lower Hudson Valley region of New York. The expansion
strategy has enabled the company to significantly reinvigorate deposit
and loan growth beyond what it had been experiencing in its slower
growth traditional markets. Despite the branch expansion program, the
company has controlled expenses resulting in an efficiency ratio that
remains among the best in the industry.
The company was founded in 1902 and is headquartered in Glenville, New
York.