Gregory Roeder's questions to TrustCo Bank Corp NY (TRST) leadership • Q4 2024
Question
Gregory Roeder of Adirondack Funds asked about TrustCo's appetite for increasing its commercial loan exposure and sought details on the new cannabis banking initiative, including its geographic scope and operational focus.
Answer
President Robert McCormick confirmed TrustCo's interest in opportunistically growing its commercial loan portfolio in a 'slow and steady' manner, particularly in 2026 and 2027. Regarding the cannabis initiative, McCormick stated it is available across their entire market, with most activity currently in New York and Massachusetts, and is focused on providing deposit services to retail operators.