Trustco Bank Corp. N Y
TrustCo Bank Corp NY, founded in 1902, is a publicly traded regional bank holding company headquartered in Glenville, New York. It operates as the parent company of Trustco Bank, serving individuals and businesses with a range of personal and business banking solutions, including deposits, lending, investment, asset and wealth management, estate planning, and custodial services. TrustCo also operates as a real estate investment trust, managing real estate mortgage assets, and acts as trustee for employee benefit and pension plans. As of the most recent filings, the firm employs approximately 791 people and operates bank branches across several states, primarily in New York and Florida, with additional offices in Vermont, Massachusetts, and New Jersey.
Investment Strategy
TrustCo Bank Corp NY’s investment strategy centers on conservative, relationship-based community banking. The company provides traditional banking services, including deposit accounts, residential and commercial lending, and investment management focused on the needs of individuals, small businesses, and local real estate professionals. TrustCo emphasizes low-cost deposit gathering and prudent mortgage lending, often holding residential loans on its balance sheet to manage interest rate risk. The firm’s trust and wealth management divisions provide long-term financial solutions, including estate planning and asset management, all aimed at prudent growth and capital preservation while serving as a stable financial partner to its clients.
Top Holdings
Equity Positions (67)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
G GE | GE AEROSPACE | 7.23% | $7.4M | 28,696 | $59.54 | $257.39 | +$2.1M |
J JPM | JP MORGAN CHASE & CO | 7.12% | $7.3M | 25,091 | $80.06 | $289.91 | +$1.7M |
M MSFT | MICROSOFT CORP | 6.14% | $6.3M | 12,607 | $62.58 | $497.41 | +$1.6M |
A AMAT | APPLIED MATERIALS INC | 5.08% | $5.2M | 28,360 | $41.72 | $183.07 | +$1.1M |
A AAPL | APPLE INC | 4.97% | $5.1M | 24,733 | $49.47 | $205.17 | -$420.6K |