SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 16, 2003
(December 16, 2003)
TrustCo Bank Corp NY
(Exact name of registrant as specified in its charter)
New York
(State or other jurisdiction of incorporation)
0-10592 14-1630287
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(Commission File Number) (IRS Employer Identification No.)
5 Sarnowski Drive, Glenville, New York 12302
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (518) 377-3311
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TrustCo Bank Corp NY
Item 5. Other Events
A press release was issued on December 16, 2003 declaring
Trustco Restructures To Guide Growth. Attached is the press
release labeled as exhibit 99(a).
Item 7 (c) Exhibits
Reg S-K Exhibit No. Description
99(a) Press release dated December 16, 2003,
declaring Trustco Restructures To
Guide Growth.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: December 16, 2003
TrustCo Bank Corp NY
(Registrant)
By:/s/ Robert T. Cushing
----------------------------
Robert T. Cushing
President and
Chief Executive Officer
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Exhibits Index
The following exhibits are filed herewith:
Reg S-K Exhibit No. Description Page
------------------ ---------------------------- ----------
99(a) Press release dated December 16, 5 - 6
2003, declaring Trustco Restructures
To Guide Growth.
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TRUSTCO
Bank Corp NY News Release
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5 Sarnowski Drive, Glenville, New York, 12302
(518) 377-3311 Fax: (518) 381-3668
Subsidiary: Trustco Bank NASDAQ - TRST
Robert M. Leonard
Vice President
518-381-3693
FOR IMMEDIATE RELEASE:
TRUSTCO RESTRUCTURES TO GUIDE GROWTH
Glenville, New York - December 16, 2003
In response to "unprecedented opportunities for growth", Trustco Bank has
refocused management responsibilities at the top level, Chairman Robert A.
McCormick announced today.
Effective January 1, 2004, Robert J. McCormick, President and CEO of Trustco
Bank will become President and CEO of both Trustco Bank and TrustCo Bank Corp
NY, the holding Company. Robert T. Cushing will become Executive Vice President
and Chief Financial Officer of Trustco Bank and TrustCo Bank Corp NY.
"Our expansion in Florida and downstate New York is going well, presenting new
levels of challenge in financial and managerial aspects of our business", stated
Chairman McCormick. "Clear lines of responsibility are imperative."
In their new roles, Rob McCormick will guide overall activities of the bank and
holding company, with Bob Cushing focused on the financial implications of
Trustco Bank's continuing expansion.
"Working together, Rob McCormick and Bob Cushing have successfully guided our
company through a period of immense change, including the first stages of our
expansion initiative, the combination of our Savings and Commercial operations,
the conversion of our computer system, and my transition from President and CEO
to Chairman in October of 2002. This restructuring allows them to better
concentrate their efforts as we move forward."
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Robert J. McCormick and Robert T. Cushing added, "we believe these changes
strengthen the overall management of the Company and provide a better mechanism
for the future." In the continuing growth initiative in downstate New York and
the Orlando, Florida region, Trustco has opened 13 offices with an additional 12
sites in various stages of approval.
In other changes, also effective January 1, Scot R. Salvador will become
Executive Vice President of Trustco Bank. As previously announced, Senior Vice
President Nancy A. McNamara will retire in May of 2004.
TrustCo Bank Corp is a $2.7 billion bank holding company and through its
subsidiary, Trustco Bank, operates 68 offices in New York, Vermont, and Florida.
The common shares of TrustCo are traded on the Nasdaq National Market tier of
the Nasdaq Stock Market under the symbol TRST.
Except for the historical information contained herein, the matters discussed in
this news release and other information contained in TrustCo's Securities and
Exchange Commission filings may express "forward-looking statements". Those
"forward-looking statements" may involve risk and uncertainties, including
statements concerning future events or performance and assumptions and other
statements that are other than statements of historical facts.
TrustCo wishes to caution readers not to place undue reliance on any
forward-looking statements, which speak only as of the date made. Readers are
advised that various risk factors, including, but not limited to: (1) credit
risk, (2) interest rate risk, (3) competition, (4) changes in the regulatory
environment, and (5) changes in general business and economic trends, could
cause the actual results or circumstances for future periods to differ
materially from those anticipated or projected in the forward-looking
statements.
TrustCo does not undertake, and specifically disclaims any obligation to
publicly release the results of any revisions that may be made to any
forward-looking statements to reflect the occurrence of unanticipated events or
circumstances after the date of such statement.
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