TrustCo Announces the Addition of Steffani Cotugno to the Board of Directors

GLENVILLE, N.Y., Oct. 17, 2023 (GLOBE NEWSWIRE) -- On October 17, 2023, TrustCo Bank Corp NY (the "Company") (Nasdaq: TRST) announced that Steffani Cotugno, D.O. was elected to the Boards of Directors of the Company and its subsidiary, Trustco Bank.

Dr. Cotugno is a primary care physician with Community Care Physicians in Clifton Park, New York. Dr. Cotugno is board certified in family medicine and is the school physician for the Shenendehowa Central School District, the Niskayuna School District, and the North Colonie School District in upstate New York. Dr. Cotugno has served as a teaching preceptor at Albany Medical College and has received awards in connection with that work.

Dr. Cotugno was found by the board to qualify as an independent director and was appointed to the Audit, Compensation, Compliance, Fiduciary, Nominating and Corporate Governance, and Risk Committees of the board of directors of the Company.

Making the announcement were Chairman, President, and Chief Executive Officer Robert J. McCormick and Lead Independent Director Dennis DeGennaro. Mr. McCormick said "We are very pleased to have Dr. Cotugno join our board. Dr. Cotugno’s long service as a family physician, school physician, and teaching preceptor gives her unique insight into the needs and views of the members of the communities that Trustco Bank serves in the Northeast. Dr. Cotugno also brings business experience gained from her role in her medical practice, as well as deep family ties to the community that will bring meaningful value to our shareholders and elevate our board discourse."

TrustCo Bank Corp NY is a $6.1 billion savings and loan holding company and through its subsidiary, Trustco Bank, operated 144 offices in New York, New Jersey, Vermont, Massachusetts, and Florida at June 30, 2023.

In addition, the Bank’s Financial Services Department offers a full range of investment services, retirement planning and trust and estate administration services. The common shares of TrustCo are traded on the Nasdaq Global Select Market under the symbol TRST.

Forward-Looking Statements

All statements in this news release that are not historical are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "will," "may," "should," "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely" and similar references to future periods. Such forward-looking statements are subject to factors that could cause actual results to differ materially for TrustCo from those discussed. TrustCo wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. There are a number of risks, uncertainties and assumptions that could cause actual results to differ materially from the forward-looking statements made herein, including the risks and uncertainties described in TrustCo’s filings with the Securities and Exchange Commission. These forward-looking statements represent TrustCo’s judgment as of the date of this release. TrustCo disclaims, however, any intent or obligation to update these forward-looking statements, either as a result of future developments, new information or otherwise, except as may be required by law.

Subsidiary: Trustco Bank