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): September 24, 2002
(September 25, 2002)
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.)
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 September 24, 2002 declaring on
August 22, 2002 Trustco Bank N.A. ("Trustco") entered into a
formal agreement with the Office of the Comptroller of the
Currency (OCC). The agreement related to technical violations
of the Federal Bank Secrecy Act and the U.S.A. Patriot Act.
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 September
24, 2002 declaring on August 22,
2002 Trustco Bank N.A.
("Trustco") entered into a formal
agreement with the Office of
the Comptroller of the Currency
(OCC). The agreement relates to
technical violations of the
Federal Bank Secrecy Act and the
U.S.A. Patriot Act.
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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: September 25, 2002
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 September 24, 5-6
2002, declaring on August 22, 2002
Trustco Bank N.A. ("Trustco") entered
into a formal agreement with the Office
of the Comptroller of the Currency
(OCC). The agreement relates to
technical violations of the Federal Bank
Secrecy Act and the U.S.A. Patriot Act.
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Exhibit 99(a)
TRUSTCO
Bank Corp NY News Release
- -----------------------------------------------------------------
5 Sarnowski Drive, Glenville, New York, 12302
(518) 377-3311 Fax: (518) 381-3668
Subsidiaries: Trustco Bank NASDAQ - TRST
Trustco Savings
Robert M. Leonard
Vice President
518-381-3693
FOR IMMEDIATE RELEASE:
Glenville, New York - September 24, 2002
TrustCo Bank Corp NY (NASDAQ : TRST) On August 22, 2002 Trustco Bank N.A.
("Trustco") entered into a formal agreement with the Office of the Comptroller
of the Currency (OCC). The agreement relates to technical violations of the
Federal Bank Secrecy Act and the U.S.A. Patriot Act.
Trustco takes issue with the OCC's findings regarding the cited violations. In
particular, Trustco believes that the OCC's requirement that the matter be
resolved through a formal agreement was unwarranted given the technical nature
of the violations and the fact that Trustco is a compliance company.
Nevertheless, Trustco entered into the agreement in order to avoid protracted
regulatory and administrative proceedings, has already implemented many of the
measures required under the agreement and is well on its way to full compliance
with the agreement.
Trustco does not believe that the agreement will have any material effect with
respect to the financial condition of Trustco Bank, its parent company, TrustCo
Bank Corp N.Y., or its shareholders or customers.
Trustco Bank Corp NY is a $2.8 billion bank holding company and through its two
subsidiary banks, Trustco Bank, National Association and Trustco Savings Bank,
operates 62 offices in Albany, Columbia, Dutchess, Greene, Montgomery,
Rensselaer, Rockland, Saratoga, Schenectady, Schoharie, Warren, Washington, and
Westchester Counties in New York and Bennington County in Vermont. In addition,
the bank operates a full service Trust Department that has $1.07 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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Trustco wishes to caution readers not to place undo 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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