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): May 15, 2000
(May 16, 2000)
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
(Commission File Number) (IRS Employer Identification No.)
192 Erie Boulevard, Schenectady, New York 12305
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (518) 377-3311
TrustCo Bank Corp NY
Item 5. Other Events
Letter to Shareholders dated May 16, 2000 and Press Release
dated May 15, 2000, discussing results of the Annual Meeting
held May 15, 2000. Attached is a copy of the Press Release
labeled as Exhibit 99(a), and Letter to Shareholders,
labeled as Exhibit 99(b). Also, on May 16, 2000, TrustCo Bank
Corp NY ("TrustCo") issued a Press Release declaring a cash
dividend of $0.15 per share, payable July 3, 2000. Attached is
a copy of the Press Release Labeled as Exhibit 99(c).
Item 7 (c) Exhibits
Reg S-K Exhibit No. Description
99(a) Press Release of May 15, 2000, discussing
results of the Annual Meeting held on
May 15, 2000.
99(b) Letter to Shareholders dated May 16,
2000, discussing results of the
Annual Meeting held on May 15, 2000.
99(c) Press Release of May 16, 2000, declaring
a cash dividend of $0.15 payable on
July 3, 2000 to shareholders of record
June 9, 2000.
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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.
Date: May 16, 2000
TrustCo Bank Corp NY
(Registrant)
By:/s/ Robert T. Cushing
Robert T. Cushing
Vice President and
Chief Financial 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 May 15, 2000 5
discussing results of the Annual
Meeting held on May 15, 2000
99(b) Letter to Shareholders dated 6
May 16, 2000 discussing results
of the Annual Meeting held on
May 15, 2000.
99(c) Press Release dated May 16, 2000, 7
declaring a quarterly cash dividend
of $0.15 per share, payable
July 3, 2000, to the shareholders
of record at the close of business
on June 9, 2000.
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Exhibit 99(a)
TRUSTCO
Bank Corp NY News Release
___________________________________________________________________________
192 Erie Boulevard, Schenectady, New York, 12305
(518) 377-3311 Fax: (518) 381-3668
Subsidiary: Trustco Bank NASDAQ -- TRST
Contact: William F. Terry
Senior Vice President and Secretary
518-381-3611
FOR IMMEDIATE RELEASE:
TRUSTCO BANK CORP NY ANNUAL MEETING:
ANOTHER RECORD YEAR FOR THE COMPANY
Schenectady, New York, May 15, 2000 - Shareholders of TrustCo Bank Corp NY
elected five members to the Board of Directors at the Company' annual meeting
held today at the Company's headquarters. Directors Barton A. Andreoli, Nancy A.
McNamara, Dr. James H. Murphy, William J. Purdy were reelected to three-year
terms, expiring in 2003, and Joseph Lucarelli was elected to a one-year term
expiring in 2001, each by an overwhelming majority of the shareholders.
KPMG LLP's appointment as auditors for the Company in 2000 was overwhelmingly
ratified.
In his remarks to the gathering of several hundred shareholders, CEO and
President, Robert A. McCormick stated that "1999 was another good year at
TrustCo." He projected earnings of $41 million ($0.74 per share) for the current
year. Referring to the equity capital provided by shareholders, Mr. McCormick
said, "Management should be measured on the basis of how successfully it employs
that equity. TrustCo has historically provided returns on equity in excess of
its peer group, and our expectation of a 23% return on equity for 2000 will
stand out in any market. We anticipate continuing as the Capital Region leader
in the efficient delivery of banking services. Our efficiency level, at
approximately 38%, is world-class, and the best in our marketplace by far."
TrustCo Bank Corp NY is a $2.4 billion bank holding company, and through its
subsidiary bank, Trustco Bank, National Association, operates 53 bank offices in
Albany, Columbia, Greene, Rensselaer, Saratoga, Schenectady, Schoharie, Warren
and Washington counties. In addition, the bank operates a full service Trust
Department with $1.36 billion of assets under management. The common shares of
TrustCo are traded on the Nasdaq National Market tier of the Nasdaq Stock Market
under the symbol TRST.
# # #
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Exhibit 99(b)
TRUSTCO
Bank Corp NY News Release
_____________________________________________________________________________
192 Erie Boulevard, Schenectady, New York, 12305 Robert A. McCormick
(518) 377-3311 Fax: (518) 381-3668 President and
Chief Executive Officer
Subsidiary: Trustco Bank, National Association
May 16, 2000
TO OUR SHAREHOLDERS:
I would like to report to you the results of our Annual Meeting held May 15,
2000. The TrustCo shareholders were asked to vote on two proposals this year.
All proposals were approved by overwhelming majorities of the shares
outstanding.
The first proposal dealt with the election of four directors to serve for
three-year terms, and one director to serve a one-year term. All five were
elected and include:
Three-Year Term:
Barton A. Andreoli, President, Towne Construction & Paving Corp.
Nancy A. McNamara, Senior Vice President, Trustco Bank, N.A.
James H. Murphy, DDS, Orthodontist
William J. Purdy, President, Welbourne & Purdy Realty, Inc.
One-Year Term:
Joseph A. Lucarelli, President, Bellevue Builders Supply, Inc.
The second proposal ratified the adoption of KPMG LLP as the independent
certified public accountants for TrustCo for 2000.
We thank all the shareholders that returned their proxies. Your support and
confidence are greatly appreciated.
I would also like to report that today the Board of Directors declared a regular
quarterly dividend of $0.15 per share. The dividend is payable July 3, 2000 to
shareholders of record at the close of business on June 9, 1999.
Thank you for the confidence you have placed in TrustCo.
Sincerely,
/s/ Robert A. McCormick
# # #
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Exhibit 99(c)
TRUSTCO
Bank Corp NY News Release
____________________________________________________________________________
192 Erie Boulevard, Schenectady, New York, 12305
(518) 377-3311 Fax: (518) 381-3668
Subsidiary: Trustco Bank NASDAQ -- TRST
Contact: William F. Terry
Senior Vice President and Secretary
518-381-3611
FOR IMMEDIATE RELEASE:
TRUSTCO DECLARES CASH DIVIDEND
Schenectady, New York - May 16, 2000
On May 16, 2000 the Board of Directors of the Company declared a
quarterly dividend of $0.15 per share, payable July 3, 2000, to the
shareholders of record at the close of business on June 9, 2000.
TrustCo is a $2.4 billion bank holding company and through its
subsidiary bank, Trustco Bank, National Association, operates 53 bank
offices in Albany, Columbia, Greene, Rensselaer, Saratoga, Schenectady,
Schoharie, Warren, and Washington counties. In addition, the bank
operates a full service Trust Department with $1.36 billion of assets
under management. The common shares of TrustCo are traded on the
Nasdaq National Market tier of the Nasdaq Stock Market under the
symbol TRST.
# # #
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