EXHIBIT 99.1
TROY FINANCIAL CORPORATION
P R E S S R E L E A S E
--------------------------------------------------------------------------------
FOR IMMEDIATE RELEASE For Further Information Contact:
December 28, 2000 Daniel J. Hogarty, Jr.
Chairman of the Board
President & Chief Executive Officer
(518) 270-3312
David J. DeLuca
Senior Vice President and
Chief Financial Officer
(518) 270-3206
TROY FINANCIAL CORPORATION APPOINTS
DAVID J. DELUCA
SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
TROY, NEW YORK (December 28, 2000) - Troy Financial
Corporation (NASDAQ:TRYF), Troy, New York announced today that David J. DeLuca
was appointed Senior Vice President and Chief Financial Officer for Troy
Financial Corporation and its principal operating subsidiaries, The Troy Savings
Bank and The Troy Commercial Bank. Mr. DeLuca will report directly to Daniel J.
Hogarty, Chairman, President and Chief Executive Officer.
Mr. DeLuca, a Certified Public Accountant, came to the company
in November 2000 as part of the acquisition of Catskill Financial Corporation.
Prior to the acquisition, since August 1996 Mr. DeLuca was Vice President and
Chief Financial Officer of Catskill Financial and its subsidiary Catskill
Savings Bank.
Prior to joining Catskill Financial Corporation Mr. DeLuca
worked for KeyCorp in Albany, New York as Senior Vice President with executive
responsibilities for corporate planning and forecasting.
Daniel J. Hogarty, Jr. Chairman, President and & CEO of Troy
Financial Corporation stated, "We are very pleased to have David DeLuca join our
senior management team. With over 25 years of financial management experience,
his knowledge and experience will contribute to achieving our strategic
objectives for the benefit of Troy Financial and its shareholders."
Troy is a community-based, full service financial services
company offering a wide variety of business, retail and municipal banking
products. Troy offers a full range of trust, insurance and investment services
and originates real estate mortgages, both residential and commercial, and
commercial business and consumer loans throughout its primary market area, which
consists of the eight New York counties of Albany, Greene, Rensselaer, Saratoga,
Schenectady, Schoharie, Warren and Washington. The Bank's web site is:
www.troysavingsbank.com.
Statements contained in this new release, which are not
historical facts, contain forward-looking statements as that term is defined in
the Private securities Litigation Reform Act of 1995. These statements are based
on the beliefs of management as well as assumptions made using information
currently available to management. Since these statements reflect the views of
management concerning future events, these statements involve risks,
uncertainties and assumptions. Therefore, actual results may differ
significantly from results discussed in forward-looking statements due to a
number of factors that include, but are not limited to, factors discussed in the
documents filed by the Company with the Securities and Exchange Commission from
time to time.
