Trust Company


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Trust Company

A corporation formed for the purpose of managing property set aside to be used for the benefit of individuals or organizations.

The settlor (the individual who creates the trust) names the trust company in order to ascertain that the property will be handled in accordance with his or her wishes as delineated in the terms of the trust.

Trust companies sometimes act as fiscal agents for corporations by attending to the registration and transfer of their stocks and bonds, serving as a trustee for their bond and mortgage creditors, and transacting general banking and loan business.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
Optima Bank and Trust Company has approximately USD 524m in total assets, and operates six New Hampshire locations.
* Midwest Banc Holdings, Inc., Melrose Park, Illinois, and Midwest Bank and Trust Company, Elmwood Park, Illinois
As Alaska's first and only independent trust company, it has become a leader in providing traditional trust services and is considered the leading expert in the country on Alaska's special trust arrangements.
Gary Anetsberger, CEO of Millennium Trust Company, said, "We're thrilled to receive this recognition from Crain's as one of Chicago's fastest-growing companies, an honor that serves as a testament to our exceptional talent and dedication to advisors, financial institutions, businesses and individuals.
Farmers and Merchants Trust Company is the oldest, continuously operating trust company in California, serving multiple generations since 1920.
Taylor, vice president of corporate real estate for Northern Trust Company.
The order requires the First Bank and Trust Company to pay a civil money penalty of $7,750, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund.
Orange Bank & Trust Company has announced the promotion of Jayne Rzeczkowski to the role of Senior Vice President and Chief Operating Officer, heading the Bank's operational departments while continuing to serve as the Bank's Compliance Officer and Corporate Secretary, the company said.
6 December 2018 - Massachusetts, US-based Cambridge Bancorp, the holding company for Cambridge Trust Company and New Hampshire-based Optima Bank and Trust Company have agreed to a merger under which Optima will merge with and into Cambridge Trust in a stock and cash transaction, the company said.
Lakeville, CT: Salisbury Bank and Trust Company completed its acquisition of the Fishkill, New York branch of Orange Bank & Trust Company, the wholly owned bank subsidiary of Orange County Bancorp, Inc.