EXHIBIT 99.1
FOR MORE INFORMATION CONTACT:
James J. Byrnes, Chairman
James W. Fulmer, President
Richard D. Farr, CFO
Tompkins Trustco, Inc. 607.273.3210
FOR IMMEDIATE RELEASE
August 15, 2000
ITHACA, NY - TOMPKINS TRUSTCO, INC. (TMP - AMERICAN STOCK EXCHANGE)
Tompkins Trustco, Inc. announced today that its Board of Directors has
authorized the repurchase of up to 400,000 shares of the Company's outstanding
common stock. Purchases may be made on the open market or in privately
negotiated transactions, over the next 24 months.
James J. Byrnes, Chairman and Chief Executive Officer, commented, "We
believe that the repurchase of our stock represents a good investment
opportunity for the Company at this time and will provide long term benefit to
the Company and its shareholders."
Tompkins Trustco, Inc. is a three bank holding company, headquartered
in Ithaca, New York and operating three community banks: Tompkins County Trust
Company, The Bank of Castile and The Mahopac National Bank. Assets at June 30th
totaled approximately $1.3 billion. The Company currently has approximately
6,991,000 shares outstanding.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM OF 1995:
This press release may include forward-looking statements with respect
to revenue sources, growth, market risk, and corporate objectives. The Company
assumes no duty, and specifically disclaims any obligation, to update
forward-looking statements, and cautions that these statements are subject to
numerous assumptions, risk, and uncertainties, all of which could change over
time. Actual results could differ materially from forward-looking statements.
4
