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TrustCo Bank Corp. NY Message Board

  • c_lafong c_lafong Feb 2, 2007 6:58 PM Flag

    Question for MTOBY

    hey mtoby,

    Please tell us why you say that TRST is "strong".

    I don't see any strength at all. Am I missing something?

    I'll reiterate some points of concern. I'm eager to hear about the strengths that I overooked.

    TRST problems.
    (1) Profits down 23% in 2006; lower than in 2001
    (2) Stock price 25% off its all-time high
    (3) Last year profits were 60 cents but the dividend is 64 cents - there could be a dividend cut
    (4) FDIC numbers for new branches are weak
    (5) Poor performance since big bob was appointed CEO by his daddy. He seems clueless. As CEO he was not permitted to speak at his first board meeting - daddy ran the show.
    (6) CEO and dad suck off $2,000,000 of the profits each year - very out of line for a bank of this size and one that's foundering under their management.
    (7) Old bob has total control of the board of directors - he seems like he's burned out
    (8) The only analyst that follows TRST predicts weak profits in 2007 and in 2008

    Your turn mtoby. Tell us about the good stuff.

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