TrustCo Bank (TRST) Suspends Stock Repurchase Plan

TrustCo Bank Corp NY (Nasdaq: TRST) today announced that the Company has chosen to suspend the stock repurchase program where TrustCo may repurchase up to 1,000,000 shares of its common stock, or approximately 1% of its current outstanding shares.

The repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The repurchase program does not obligate TrustCo to purchase any particular number of shares.

The Company repurchased 489,000 shares of common stock during the first quarter of 2020 for an aggregate purchase price of approximately $3.5 million under its repurchase program.

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