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Trustco Bank

Headquarters: 5 Sarnowski Dr.
Glenville, NY 12305
Employees: 737
CEO: Robert McCormick
Stock Symbol: TRST

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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 operates 144 banking offices in Albany, Columbia, Dutchess, Greene, Rensselaer, Rockland, Saratoga, Schenectady, Schoharie, Ulster, Warren, Washington and Westchester counties of New York; Massachusetts; Sarasota, Seminole, and Orange counties in Florida; Bennington County in Vermont; and Bergen County in New Jersey.

TrustCo has assets of $4.6 billion. It reported net income in 2014 of $44.2 million, up 11%.

TrustCo reported loans of $3.16 billion and deposits of $4.03 billion at the end of 2014.

Robert McCormick, President and Chief Executive Officer said, "Our results for 2014 represented another solid year of profit growth coupled with continued growth of core customer relationships which ultimately position our business well for the future. We continued to add profitable customer relationships on both the loan and deposit sides of the Bank despite the difficult interest rate environment. Our highly liquid balance sheet continues to allow us to fund our loan growth without having to overpay for deposits. We look forward to 2015 with optimism. We will continue taking advantage of opportunities as they are presented."

The company was founded in 1902 and is based in Glenville, NY.


Merit Increases
Formal job performance reviews are conducted after six months of employment and each year thereafter. Providing you are performing at an effective level, you will be eligible for a merit increase when your review is administered. Exempt employees will be eligible for yearly merit increases.

Paid Vacation
All employees, both full and part-time, are eligible for two weeks of paid vacation, based on authorized hours upon eligibility.

Holiday Pay
We're a bank! Holiday pay is one of our many perks. All employees, both full and part-time, are immediately eligible for paid holidays. We observe holidays on the Federal Reserve Schedule.

Health Plan
Trustco provides valuable medical benefits to all employees after six months of continuous service. Dental is offered after 6 months of service to all full-time employees. Employees choose the level of coverage that fits their specific needs.

401K Plan
Upon hire, all employees are eligible to participate in our 401(K) plan.

Tuition Reimbursement
Any financial or career-related courses that you enroll in after six months of employment qualify for our tuition reimbursement plan. Simply fill out an application, and send in your grades upon course completion. Full-time employees can receive up to $750 per semester, up to $1,500 per academic year, while part time employees can receive up to $300 per semester, up to $600 per academic year. Reimbursements will be awarded based on grades earned.

Other Benefits
Each of our employees can open a checking account free of monthly service charges, providing the account remains in good standing. Employees are eligible for reduced rates on loans after one year of service, if approved. Life insurance is offered to full time employees after six months of employment at minimal cost.

Updated January 25, 2015


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