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Buoyed by Strong Liquidity and Deposit Stability, TrustCo Declares Dividend
GLENVILLE, N.Y., Aug. 15, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on August 15, 2023, declared a
About this update from Trustco Bank Corp Ny
[{"type":"text","content":"GLENVILLE, N.Y., Aug. 15, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on August 15, 2023, declared a quarterly cash dividend of $0.36 per share, or $1.44 per share on an annualized basis. The dividend will be payable on October 2, 2023 to shareholders of record at the close of business on September 1, 2023. Chairman, President, and Chief Executive Officer Robert J. McCormick said: “Offering industry-leading mortgage products enabled us to grow our total loans under challenging economic and market conditions. That loan growth is supported by deposit stability that is the product of deep Home-Town ties and strong customer relationships. We are very proud to maintain our century-long history of meaningful quarterly dividends.” About TrustCo Bank Corp NY TrustCo Bank Corp NY is a $6.1 billion savings and loan holding company. Through its subsidiary, Trustco Bank, Trustco operates 143 offices in New York, New Jersey, Vermont, Massachusetts and Florida. Trustco has a more than 100-year tradition of providing high-quality services, including a wide variety of deposit and loan products. In addition, Trustco Bank’s Financial Services Department offers a full range of investment services, retirement planning and trust and estate administration services. Trustco Bank is rated as one of the best performing savings banks in the country. The common shares of TrustCo are traded on the NASDAQ Global Select Market under the symbol TRST. For more information, visit www.trustcobank.com. Forward-Looking Statements All statements in this news release that are not historical are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as \"anticipate,\" \"intend,\" \"plan,\" \"goal,\" \"seek,\" \"believe,\" \"project,\" \"estimate,\" \"expect,\" \"strategy,\" \"future,\" \"likely,\" \"may,\" \"should,\" \"will\" and similar references to future developments, results or periods. TrustCo wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and such forward-looking statements are subject to factors and uncertainties that could cause actual results to differ materially for TrustCo from the v...