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Trustco Bank Ny's Business Segments
Trustco Bank Ny's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of FY
Reportable Segments
2
Largest Segment
Wealth Management Fees
Total Revenue
$ 51
Regions Reported
-
Revenue Share by Reportable Segment - FY
- Wealth Management Fees8.1%
- Interchange Income2.6%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Wealth Management Fees | $ 4 | 8.1% |
| Interchange Income | $ 1 | 2.6% |
Annual Results
Revenue Share by Reportable Segment - FY
- Wealth Management Fees8.1%
- Interchange Income2.6%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Wealth Management Fees | $ 4 | 8.1% |
| Interchange Income | $ 1 | 2.6% |
Description of Trustco Bank Ny
TrustCo Bank Corp NY is a savings and loan holding company having its principal
place of business at 5 Sarnowski Drive, Glenville, New York 12302. TrustCo was
incorporated under the laws of New York in 1981 to be the parent holding company
of The Schenectady Trust Company, which subsequently was renamed to Trustco Bank
New York and, later, to Trustco Bank, National Association. The Company’s
principal subsidiary, Trustco Bank, is the successor by merger to Trustco Bank,
National Association.
TrustCo Bank Corp NY, operating as Trustco Bank, offers a range of banking products and services aimed at both personal and commercial customers. Below is an extensive description of the segments, products, and services offered by Trustco Bank:
1. Personal Banking Services
a. Checking Accounts
- Basic Checking: No monthly maintenance fees, unlimited check writing, and access to online banking.
- Premium Checking: Higher interest earnings on balances, no fees with direct deposits or specific balance thresholds.
b. Savings Accounts
- Regular Savings Accounts: Offers competitive interest rates, low minimum balance requirements, and easy access.
- High-Yield Savings Accounts: Higher interest rates for savers looking to grow their savings over time with tiered balances.
c. Certificates of Deposit (CDs)
- Various term lengths available, typically ranging from a few months to several years, with fixed interest rates that increase with longer terms.
d. Money Market Accounts
- These accounts usually offer higher interest rates than standard savings accounts with features that combine aspects of checking and savings.
e. Personal Loans
- Unsecured Personal Loans: For various personal uses, such as home improvements, medical expenses, or consolidating debt.
- Home Equity Loans: Secured by the borrowers home equity, offering funds at competitive interest rates for larger expenses.
f. Mortgages
- Offering a variety of mortgage products such as fixed-rate mortgages, adjustable-rate mortgages (ARMs), and refinancing options for homebuyers and those looking to renegotiate existing loans.
Commercial Banking Services
a. Business Checking Accounts
- Tailored for small to medium-sized enterprises, offering features such as free online banking, various transaction limits, and merchant services.
b. Business Savings and Money Market Accounts
- Designed for businesses looking to earn interest on their excess funds with flexibility for withdrawals.
c. Commercial Loans
- Inclusive of various loan products such as lines of credit, equipment financing, and term loans to support business expansion or operations.
d. Commercial Real Estate Financing
- Providing financing solutions for purchasing, refinancing, or developing commercial properties, including multifamily housing.
Investment Services
- Trustco Bank may offer investment services, including retirement accounts like IRAs, as well as access to a range of investment products, helping clients save for retirement or other long-term goals.
Insurance Services
- The bank may provide insurance products that include life insurance, property insurance, and various types of coverage tailored to meet personal and business needs.
Online and Mobile Banking
- Intuitive online banking platforms allow customers to manage accounts, pay bills, transfer funds, and deposit checks using mobile devices or PCs.
Financial Planning and Advisory Services
- While specific services can vary, Trustco Bank may provide resources or partner with financial advisors to assist clients with financial planning, retirement savings strategies, and investment guidance.
Additional Services
- Customer Support: Extensive customer service options via phone, in-person at branches, and online chat.
- ATM Services: Nationwide ATM access with features like surcharge-free withdrawals through partner networks.
- Safe Deposit Boxes: Available for customers wishing to secure their important personal documents or valuables.
In summary, Trustco Bank Corp NY offers a comprehensive suite of products and services tailored to both retail and commercial customers. From everyday banking needs to larger investment and loan services, the bank positions itself as a versatile financial institution catering to various customer segments.
1. Personal Banking Services
a. Checking Accounts
- Basic Checking: No monthly maintenance fees, unlimited check writing, and access to online banking.
- Premium Checking: Higher interest earnings on balances, no fees with direct deposits or specific balance thresholds.
b. Savings Accounts
- Regular Savings Accounts: Offers competitive interest rates, low minimum balance requirements, and easy access.
- High-Yield Savings Accounts: Higher interest rates for savers looking to grow their savings over time with tiered balances.
c. Certificates of Deposit (CDs)
- Various term lengths available, typically ranging from a few months to several years, with fixed interest rates that increase with longer terms.
d. Money Market Accounts
- These accounts usually offer higher interest rates than standard savings accounts with features that combine aspects of checking and savings.
e. Personal Loans
- Unsecured Personal Loans: For various personal uses, such as home improvements, medical expenses, or consolidating debt.
- Home Equity Loans: Secured by the borrowers home equity, offering funds at competitive interest rates for larger expenses.
f. Mortgages
- Offering a variety of mortgage products such as fixed-rate mortgages, adjustable-rate mortgages (ARMs), and refinancing options for homebuyers and those looking to renegotiate existing loans.
Commercial Banking Services
a. Business Checking Accounts
- Tailored for small to medium-sized enterprises, offering features such as free online banking, various transaction limits, and merchant services.
b. Business Savings and Money Market Accounts
- Designed for businesses looking to earn interest on their excess funds with flexibility for withdrawals.
c. Commercial Loans
- Inclusive of various loan products such as lines of credit, equipment financing, and term loans to support business expansion or operations.
d. Commercial Real Estate Financing
- Providing financing solutions for purchasing, refinancing, or developing commercial properties, including multifamily housing.
Investment Services
- Trustco Bank may offer investment services, including retirement accounts like IRAs, as well as access to a range of investment products, helping clients save for retirement or other long-term goals.
Insurance Services
- The bank may provide insurance products that include life insurance, property insurance, and various types of coverage tailored to meet personal and business needs.
Online and Mobile Banking
- Intuitive online banking platforms allow customers to manage accounts, pay bills, transfer funds, and deposit checks using mobile devices or PCs.
Financial Planning and Advisory Services
- While specific services can vary, Trustco Bank may provide resources or partner with financial advisors to assist clients with financial planning, retirement savings strategies, and investment guidance.
Additional Services
- Customer Support: Extensive customer service options via phone, in-person at branches, and online chat.
- ATM Services: Nationwide ATM access with features like surcharge-free withdrawals through partner networks.
- Safe Deposit Boxes: Available for customers wishing to secure their important personal documents or valuables.
In summary, Trustco Bank Corp NY offers a comprehensive suite of products and services tailored to both retail and commercial customers. From everyday banking needs to larger investment and loan services, the bank positions itself as a versatile financial institution catering to various customer segments.