Filed by TrustCo Bank Corp NY Pursuant to Rule 425
under the Securities Act of 1933 and deemed filed pursuant
to Rule 14d-2 of the Securities Exchange Act of 1934 Subject
Companie: Cohoes Bancorp, Inc.(Commission File No.
000-25027)
TRUSTCO
Bank Corp NY News Release
192 Erie Boulevard, Schenectady, New York, 12305
--------------------------------------------------------------------------------
(518) 377-3311 Fax: (518) 381-3668
Subsidiary: Trustco Bank NASDAQ -- TRST
Contact: William F. Terry
Secretary
518-381-3611
FOR IMMEDIATE RELEASE:
TRUSTCO NOMINATES CANDIDATES FOR COHOES BANCORP, INC.
BOARD OF DIRECTORS
Schenectady, New York - August 25, 2000
TrustCo Bank Corp NY (TrustCo) announced today that it has nominated Thomas
P. Collins, CPA, President of the Preferred Group of Albany, NY, employee
benefit plan advisor, and Thomas O. Maggs, President of Maggs & Zack, a business
insurance brokerage, as candidates for election to the Board of Directors in the
2000 annual meeting of Cohoes Bancorp Inc. (Cohoes).
On June 26, 2000, TrustCo announced its intention to offer Cohoes
shareholders $16 in TrustCo stock for each share of Cohoes. On August 17, 2000,
Cohoes shareholders rejected a proposal from the Cohoes management and Board of
Directors to sell Cohoes to Hudson River Bancorp, Inc.
"In light of the recent rejection by the Cohoes shareholders of the
proposed sale of the company to Hudson River Bancorp, Inc., we believe it is
important to elect directors who understand that the owners of the company (the
shareholders) must have their interests considered." Mr. McCormick added: "Our
nominees will, consistent with their fiduciary duties, seek a friendly merger of
Cohoes with TrustCo. We believe that a combined company should remain a
community oriented financial institution based in the Capital District."
TrustCo is a $2.4 billion bank holding company, and through its subsidiary
banks, Trustco Bank, N.A. and Trustco Savings Bank, operates 54 bank offices in
Albany, Columbia, Greene, Montgomery, Rensselaer, Saratoga, Schenectady, Warren,
and Washington counties. In addition, Trustco Bank, N.A. operates a full service
Trust Department with $1.34 billion of assets under management. The common
shares of TrustCo are traded on the Nasdaq National Market tier of the Nasdaq
Stock Market under the symbol TRST.
# # #
