TrustCo Initiates 2M Share Buyback Program

Dow Jones12-20 05:23

By Elias Schisgall

TrustCo Bank Corp NY will buyback 2 million shares of its common stock.

The bank holding company said Friday that its board had approved the repurchase program, which amounts to 11% of its outstanding shares.

Chief Executive Officer Robert McCormick said the buyback was made possible by the company's capital-building strategy.

"As a Company, we have determined that the best investment we can make is in ourselves," he said. "Our business model is sound and the transactional risk is low. This announced substantial share repurchase program is intended to fulfill our ever-present goal of increasing shareholder value."

Open market repurchases will be made over the next 12 months, the company said.

TrustCo completed a previous repurchase authorization for 1 million shares earlier this month

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

December 19, 2025 16:23 ET (21:23 GMT)

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