TrustCo Bank Corp NY Management
Management criteria checks 4/4
TrustCo Bank Corp NY's CEO is Rob McCormick, appointed in Jan 2004, has a tenure of 20.33 years. total yearly compensation is $3.06M, comprised of 34.5% salary and 65.5% bonuses, including company stock and options. directly owns 1.88% of the company’s shares, worth $10.23M. The average tenure of the management team and the board of directors is 14.3 years and 6.5 years respectively.
Key information
Rob McCormick
Chief executive officer
US$3.1m
Total compensation
| CEO salary percentage | 34.5% |
| CEO tenure | 20.3yrs |
| CEO ownership | 1.9% |
| Management average tenure | 14.3yrs |
| Board average tenure | 6.5yrs |
Recent management updates
Recent updates
Results: TrustCo Bank Corp NY Exceeded Expectations And The Consensus Has Updated Its Estimates
Apr 26
TrustCo Bank: Back To A 5.5% Yield, It Is A Buy
Apr 22TrustCo Bank Corp NY (NASDAQ:TRST) Is Due To Pay A Dividend Of $0.36
Nov 25Should You Be Adding TrustCo Bank Corp NY (NASDAQ:TRST) To Your Watchlist Today?
Mar 24TrustCo Bank Corp NY (NASDAQ:TRST) Is Increasing Its Dividend To $0.36
Feb 25TrustCo Bank Corp NY (NASDAQ:TRST) Will Pay A Dividend Of $0.35
Aug 20TrustCo Bank: Stable And Attractively Valued
Aug 20TrustCo Bank: A 4.5% Yield For A Bank Trading At TBV
May 24TrustCo Bank: An Attractive 4% Dividend Yield For New York And Florida Real Estate Exposure
Jan 10TrustCo Bank: Tremendously Positioned For Rate Hikes
Oct 25TrustCo Bank: The Recent Pullback Is All About Interest Rates
Aug 22Shareholders May Be More Conservative With TrustCo Bank Corp NY's (NASDAQ:TRST) CEO Compensation For Now
May 14TrustCo Bank Corp NY (NASDAQ:TRST) Pays A US$0.068 Dividend In Just Four Days
Feb 27Here's How We Evaluate TrustCo Bank Corp NY's (NASDAQ:TRST) Dividend
Feb 16
What Type Of Shareholders Make Up TrustCo Bank Corp NY's (NASDAQ:TRST) Share Registry?
Jan 19TrustCo Bank: Securing A 4% Yield With New York Residential Mortgages
Jan 04CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2024 | n/a | n/a | US$53m |
| Dec 31 2023 | US$3m | US$1m | US$59m |
| Sep 30 2023 | n/a | n/a | US$70m |
| Jun 30 2023 | n/a | n/a | US$74m |
| Mar 31 2023 | n/a | n/a | US$76m |
| Dec 31 2022 | US$3m | US$975k | US$75m |
| Sep 30 2022 | n/a | n/a | US$71m |
| Jun 30 2022 | n/a | n/a | US$68m |
| Mar 31 2022 | n/a | n/a | US$65m |
| Dec 31 2021 | US$3m | US$975k | US$62m |
| Sep 30 2021 | n/a | n/a | US$59m |
| Jun 30 2021 | n/a | n/a | US$56m |
| Mar 31 2021 | n/a | n/a | US$53m |
| Dec 31 2020 | US$3m | US$975k | US$52m |
| Sep 30 2020 | n/a | n/a | US$53m |
| Jun 30 2020 | n/a | n/a | US$53m |
| Mar 31 2020 | n/a | n/a | US$57m |
| Dec 31 2019 | US$3m | US$975k | US$58m |
| Sep 30 2019 | n/a | n/a | US$60m |
| Jun 30 2019 | n/a | n/a | US$60m |
| Mar 31 2019 | n/a | n/a | US$61m |
| Dec 31 2018 | US$2m | US$975k | US$61m |
| Sep 30 2018 | n/a | n/a | US$53m |
| Jun 30 2018 | n/a | n/a | US$50m |
| Mar 31 2018 | n/a | n/a | US$47m |
| Dec 31 2017 | US$2m | US$880k | US$43m |
Compensation vs Market: Rob's total compensation ($USD3.06M) is about average for companies of similar size in the US market ($USD2.41M).
Compensation vs Earnings: Rob's compensation has been consistent with company performance over the past year.
CEO
Rob McCormick (59 yo)
20.3yrs
Tenure
US$3,060,935
Compensation
Mr. Robert Joseph McCormick, also known as Rob, has been President and Chief Executive Officer of TrustCo Bank Corp NY since January 2004 and its Chairman of the Board since January 01, 2019. He also serve...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 20.3yrs | US$3.06m | 1.88% $ 10.2m | |
| Executive VP & CFO | 9.4yrs | US$1.22m | 0.15% $ 794.6k | |
| Executive Vice President of Commercial Banking | 20.3yrs | US$1.15m | 0.26% $ 1.4m | |
| Executive Vice President of Corporate Services & Risk | 14.3yrs | US$1.50m | 0.17% $ 925.2k | |
| Executive Vice President of Retail Banking | 5.4yrs | US$1.24m | 0.18% $ 998.6k | |
| General Counsel & Corporate Secretary | 9.3yrs | no data | 0.050% $ 272.9k | |
| Executive VP & Treasurer | 14.3yrs | US$526.72k | 0.22% $ 1.2m |
14.3yrs
Average Tenure
57yo
Average Age
Experienced Management: TRST's management team is seasoned and experienced (14.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 19.3yrs | US$3.06m | 1.88% $ 10.2m | |
| Honorary Director | no data | US$525.73k | no data | |
| Honorary Director | no data | US$867.22k | no data | |
| Independent Director | 29.3yrs | US$153.52k | 0.13% $ 709.0k | |
| Honorary Director | no data | no data | no data | |
| Independent Director | 18.8yrs | US$153.52k | 0.085% $ 462.1k | |
| Independent Director | 8.3yrs | US$153.52k | 0.014% $ 74.4k | |
| Lead Independent Director | 6.5yrs | US$153.52k | 0.014% $ 77.8k | |
| Independent Director | 3.8yrs | US$153.52k | 0.025% $ 134.4k | |
| Independent Director | 3.8yrs | US$153.52k | 0.025% $ 136.9k | |
| Independent Director | 2.7yrs | US$153.52k | 0.0094% $ 51.1k | |
| Independent Director | less than a year | US$42.02k | no data |
6.5yrs
Average Tenure
67yo
Average Age
Experienced Board: TRST's board of directors are considered experienced (6.5 years average tenure).