TrustCo Bank (TRST) to seek approval of reverse stock split

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TrustCo to seek approval of reverse stock split

February 16, 2021 4:30 PM EST

GLENVILLE, N.Y., Feb. 16, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it plans to seek approval for a reverse stock split of TrustCos common stock at the upcoming annual meeting of TrustCos shareholders. The proposal will include a 1 for 5 reverse stock split and the reduction of the number of authorized shares of common stock from 150,000,000 to 30,000,000, as determined by TrustCos Board of Directors. This proposed reduction in authorized shares would become effective at the same time as the... More