TrustCo Bank Corp NY

Live  

TrustCo Bank Corp NY is a bank holding company headquartered in Glenville, New York. It was founded in 1902 as Schenectady Trust Company and has since grown to become a well-known financial institution in the Northeastern United States. The company operates as the parent company of its primary subsidiary, Trustco Bank, a full-service community bank with over 145 branches across New York, New Jersey, Vermont, Massachusetts, and Florida.
TrustCo Bank Corp NY offers a range of traditional banking products and services, including checking and savings accounts, loans, mortgages, and investment services. The bank also offers online and mobile banking options for customers to manage their accounts anytime, anywhere.
The company's mission is to provide high-quality financial services to individuals, families, and businesses while maintaining strong relationships with its customers and communities. TrustCo Bank Corp NY prides itself on its commitment to customer service and community involvement, with a focus on supporting local charitable organizations and initiatives.
TrustCo Bank Corp NY is publicly traded on the NASDAQ Global Select Market under the ticker symbol TRST. As of 2021, the company has over $5 billion in assets and employs more than 700 people.

Okay! So, TrustCo Bank is like a big special piggy bank for people and businesses. When you have extra money, you can give it to the bank to keep safe, and they pay you a little bit of money called interest for keeping it safe. This is called a savings account. People like to use TrustCo Bank because they can trust the bank to take care of their money.
Now, TrustCo Bank also gives out loans, which is like lending your toys to a friend, but with money! If someone wants to buy a house or start a business but doesn’t have enough money, they can ask TrustCo Bank for a loan. The bank gives them the money and then, over time, they pay it back with extra money called interest, which is how the bank makes more money.
TrustCo Bank is successful for a few reasons. First, they build strong relationships with their customers and take good care of their money. Second, they have been around for a long time, so people know they can trust them. Finally, they help people and businesses achieve their dreams by providing loans, which makes more people want to bank with them.
As for the future, TrustCo Bank likely will continue to be successful because they adapt to changes and look for ways to help customers better. They also think ahead about what people might need, like new banking technology or more options for saving and borrowing money. Since they are good at what they do, people will keep coming to them for help with their money.

VHJ1c3RDby BCYW5rIENv cnAgTlkgaX MgYSBmYW1p bHktb3duZW QgYW5kIG9w ZXJhdGVkIH JlZ2lvbmFs IGJhbmsgaG VhZHF1YXJ0 ZXJlZCBpbi BHbGVudmls bGUsIE5ldy BZb3JrLiBJ dCBoYXMgYm VlbiBpbiBv cGVyYXRpb2 4gc2luY2Ug MTkwMiBhbm QgaGFzIGdy b3duIGludG 8gYSBtdWx0 aS1iaWxsaW 9uIGRvbGxh ciBmaW5hbm NpYWwgaW5z dGl0dXRpb2 4gd2l0aCBt b3JlIHRoYW 4gMTQwIGJy YW5jaGVzIG Fjcm9zcyBz ZXZlcmFsIH N0YXRlcyBp biB0aGUgTm 9ydGhlYXN0 ZXJuIFVuaX RlZCBTdGF0 ZXMuPGJyPl NvbWUgdW5p cXVlIGFzcG VjdHMgb2Yg VHJ1c3RDby BCYW5rIENv cnAgTlkgaW 5jbHVkZSBp dHMgZm9jdX Mgb24gY29t bXVuaXR5IG Jhbmtpbmcg YW5kIGNvbW 1pdG1lbnQg dG8gcHJvdm lkaW5nIHBl cnNvbmFsaX plZCBhbmQg aGlnaC1xdW FsaXR5IGN1 c3RvbWVyIH NlcnZpY2Uu IFRoZSBiYW 5rIGFsc28g cHJpb3JpdG l6ZXMgbG9j YWwgbGVuZG luZywgaW52 ZXN0aW5nIG luIHNtYWxs IGJ1c2luZX NzZXMsIGFu ZCBzdXBwb3 J0aW5nIGNv bW11bml0eS BldmVudHMg YW5kIG9yZ2 FuaXphdGlv bnMuIEl0IG hhcyBhIHN0 cm9uZyByZX B1dGF0aW9u IGZvciBmaW 5hbmNpYWwg c3RhYmlsaX R5IGFuZCBo YXMgY29uc2 lzdGVudGx5 IGJlZW4gcm Vjb2duaXpl ZCBmb3IgaX RzIHN0cm9u ZyBlYXJuaW 5ncyBhbmQg cGVyZm9ybW FuY2UuPGJy PlRydXN0Q2 8gQmFuayBD b3JwIE5ZIG lzIGFsc28g a25vd24gZm 9yIGl0cyBj b25zZXJ2YX RpdmUgYXBw cm9hY2ggdG 8gYmFua2lu ZyBhbmQgaG FzIG1haW50 YWluZWQgYS Bsb3ctcmlz ayBwcm9maW xlLCBhbGxv d2luZyBpdC B0byB3ZWF0 aGVyIGVjb2 5vbWljIGRv d250dXJucy BhbmQgbWFp bnRhaW4gdG hlIHRydXN0 IG9mIGl0cy BjdXN0b21l cnMuIEFkZG l0aW9uYWxs eSwgdGhlIG JhbmsgaGFz IGEgc3Ryb2 5nIGN1bHR1 cmUgb2YgZW 1wbG95ZWUg ZW5nYWdlbW VudCBhbmQg ZGV2ZWxvcG 1lbnQsIHdo aWNoIGhhcy Bjb250cmli dXRlZCB0by BpdHMgc3Vj Y2VzcyBhbm QgcG9zaXRp dmUgcmVwdX RhdGlvbi4=

VHJ1c3RDby BCYW5rIENv cnAgTlkgaX MgYSBiYW5r IGhvbGRpbm cgY29tcGFu eSB0aGF0IG 9wZXJhdGVz IHRocm91Z2 ggaXRzIHN1 YnNpZGlhcn ksIFRydXN0 Y28gQmFuay 4gSXRzIGJ1 c2luZXNzIG 1vZGVsIGlz IHRvIHByb3 ZpZGUgYSBy YW5nZSBvZi BiYW5raW5n IGFuZCBmaW 5hbmNpYWwg cHJvZHVjdH MgYW5kIHNl cnZpY2VzIH RvIGluZGl2 aWR1YWwgYW 5kIGJ1c2lu ZXNzIGN1c3 RvbWVycy4g VGhpcyBpbm NsdWRlcyB2 YXJpb3VzIG RlcG9zaXQg YWNjb3VudH MsIGxvYW5z LCBhbmQgaW 52ZXN0bWVu dCBzZXJ2aW Nlcy4gVGhl IGNvbXBhbn kgYWxzbyBl YXJucyBpbm NvbWUgdGhy b3VnaCB0aG UgaW50ZXJl c3QgYW5kIG ZlZXMgY2hh cmdlZCBvbi BpdHMgbG9h bnMgYW5kIH NlcnZpY2Vz LiBJdHMgc3 RyYXRlZ3kg aXMgdG8gZm 9jdXMgb24g ZGV2ZWxvcG luZyBsb25n LXRlcm0gY3 VzdG9tZXIg cmVsYXRpb2 5zaGlwcyBi eSBwcm92aW RpbmcgcGVy c29uYWxpem VkIGFuZCBx dWFsaXR5IH NlcnZpY2Vz IHdoaWxlIG 1haW50YWlu aW5nIGEgc3 Ryb25nIGZp bmFuY2lhbC Bwb3NpdGlv bi4gQWRkaX Rpb25hbGx5 LCB0aGUgY2 9tcGFueSBh aW1zIHRvIG dyb3cgaXRz IGJ1c2luZX NzIHRocm91 Z2ggYWNxdW lyaW5nIHNt YWxsIGNvbW 11bml0eSBi YW5rcyBhbm QgZXhwYW5k aW5nIGl0cy BicmFuY2gg bmV0d29yay 4=

AI does pose some potential threats to TrustCo Bank Corp NY’s products, services, and competitive positioning, although the extent of these threats can vary based on how the bank adapts to technology changes.
1. Substitution: AI technologies, particularly in fintech, can offer automated solutions that may compete with traditional banking services. For example, robo-advisors can provide investment management services at a lower cost compared to human advisors, which could attract customers seeking lower fees or more innovative options. If TrustCo does not enhance its own product offerings or integrate AI into its services, it may lose market share to more tech-savvy competitors.
2. Disintermediation: AI can facilitate direct interactions between customers and financial services, bypassing traditional banks. For instance, peer-to-peer lending platforms and cryptocurrency exchanges leverage AI to streamline processes and reduce reliance on traditional banking intermediaries. If consumers prefer these alternatives, TrustCo could experience a reduction in customer deposits and lending business.
3. Margin Pressure: As banks increasingly adopt AI technologies, competition may drive down fees and interest rates. If TrustCo does not invest in AI effectively, it could find it challenging to maintain competitive pricing, leading to margin pressure. Additionally, the costs associated with developing and maintaining AI systems could strain profitability, particularly if these investments do not yield immediate returns.
In conclusion, TrustCo Bank Corp NY faces potential risks from AI through substitution, disintermediation, and margin pressure. However, proactive adaptation and integration of AI solutions could also offer opportunities for the bank to enhance its offerings and maintain competitiveness.

TrustCo Bank Corp NY, like many financial institutions, has a business model that is significantly influenced by interest rates. The sensitivity of its earnings, cash flow, and valuation to changes in interest rates can be analyzed through a few key factors:
1. Net Interest Margin (NIM): TrustCo’s earnings primarily come from the difference between the interest income generated from loans and the interest paid on deposits. A rise in interest rates typically improves net interest margins, enhancing earnings. Conversely, a decline in rates can compress margins, negatively impacting profitability.
2. Loan Portfolio Composition: The sensitivity to interest rates also depends on the composition of TrustCo’s loan portfolio. If a substantial portion of loans is at fixed rates, then rising rates may not affect earnings immediately. However, if loans are variable rate or if refinancing occurs, the sensitivity increases, as borrowers may pay higher costs under rising rates.
3. Deposit Structure: The bank’s funding costs and responsiveness of deposits to interest rate changes also matter. If TrustCo can manage its deposit rates effectively, it can maintain or improve its net interest margin during changing interest rates. However, if depositors demand higher interest due to rate increases, profitability could be squeezed.
4. Loan Demand: Higher interest rates often dampen demand for new loans, which can affect both earnings and cash flow. This could lead to slower growth in the loan portfolio, impacting future revenue generation and overall valuation metrics.
5. Valuation Metrics: Changes in interest rates can influence investor sentiment and valuations of banks. Higher rates could lead to higher profitability forecasts, potentially boosting the bank’s stock price. However, if increasing rates lead to economic slowdowns that affect credit quality, this could be detrimental to valuation.
6. Economic Environment: The broader economic backdrop plays a critical role. In periods of increasing rates, if accompanied by robust economic growth, TrustCo’s earnings may benefit from higher demand for loans. In contrast, if rates rise amid economic uncertainty, this could heighten risks and negatively impact earnings.
In conclusion, TrustCo Bank Corp NY’s earnings, cash flow, and overall valuation are quite sensitive to changes in interest rates, influenced by their loan and deposit strategies, the economic context, and market dynamics.

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3MvTk EzRmc5T01Q WEphTDNzY2 ZUeXMud2Vi cCIgYWx0PS JUcnVzdENv IEJhbmsgQ2 9ycCBOWSIg dGl0bGU9Il RydXN0Q28g QmFuayBDb3 JwIE5ZIiAg Y2xhc3M9Im ltZy1mbHVp ZCIgaGVpZ2 h0PTkwIHdp ZHRoPTkwIG xvYWRpbmc9 J2xhenknIH N0eWxlPSdi b3JkZXItcm FkaXVzOiA2 cHg7Jz4KCi AgICAgICAg ICAgICAgIC AgICAgPGRp diBzdHlsZT 0nZmxleDog MTsgdGV4dC 1hbGlnbjog Y2VudGVyOy BtYXJnaW4t bGVmdDogNX B4Oyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgID xwIHN0eWxl PSdmb250LX NpemU6IDI2 cHg7IGNvbG 9yOiAjMzMz OyBtYXJnaW 4tYm90dG9t OiAxNXB4Oy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Dwn5OIIFdh bnQgdG8gcm VhZCBtb3Jl IGFib3V0IF RydXN0Q28g QmFuayBDb3 JwIE5ZPwog ICAgICAgIC AgICAgICAg ICAgICAgIC A8L3A+Cgog ICAgICAgIC AgICAgICAg ICAgICAgIC A8YSBocmVm PSdpbmRleC 5waHA/cGFn ZT1zaWdudX AnIHN0eWxl PScKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGJhY2tncm 91bmQtY29s b3I6ICMwMD dCRkY7CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBjb2xv cjogI2ZmZj sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIH BhZGRpbmc6 IDEwcHggMj BweDsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGJvcmRl ci1yYWRpdX M6IDVweDsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIHRl eHQtZGVjb3 JhdGlvbjog bm9uZTsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGZvbn Qtd2VpZ2h0 OiBib2xkOw ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgbW FyZ2luLXJp Z2h0OiAxMH B4OwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgdHJhbnNp dGlvbjogYm Fja2dyb3Vu ZC1jb2xvci AwLjNzIGVh c2U7JwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgb25tb3 VzZW92ZXI9 J3RoaXMuc3 R5bGUuYmFj a2dyb3VuZE NvbG9yPSIj MDA1NmIzIi cKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG 9ubW91c2Vv dXQ9J3RoaX Muc3R5bGUu YmFja2dyb3 VuZENvbG9y PSIjMDA3Qk ZGIic+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBTaWdu IHVwIGZvci BmcmVlCiAg ICAgICAgIC AgICAgICAg ICAgICAgID wvYT4KCiAg ICAgICAgIC AgICAgICAg ICAgICAgID xzcGFuIHN0 eWxlPSdtYX JnaW46IDAg OHB4OyBjb2 xvcjogIzU1 NTsnPm9yPC 9zcGFuPgoK ICAgICAgIC AgICAgICAg ICAgICAgIC AgPGEgaHJl Zj0naW5kZX gucGhwP3Bh Z2U9bG9naW 4nIHN0eWxl PScKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGNvbG9yOi AjMDA3QkZG OwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg dGV4dC1kZW NvcmF0aW9u OiB1bmRlcm xpbmU7CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBmb250 LXdlaWdodD ogNTAwOyc+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBs b2cgaW4KIC AgICAgICAg ICAgICAgIC AgICAgICAg PC9hPgoKCi AgICAgICAg ICAgICAgIC AgICAgICAg IDxwIHN0eW xlPSdtYXJn aW4tdG9wOi AxNXB4OyBm b250LXNpem U6IDEzcHg7 IGZvbnQtd2 VpZ2h0OiBi b2xkOyBjb2 xvcjogI2Qz MmYyZjsnPg ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAg4p yN77iPIFNp Z24gdXAgdG 8gZ2V0IDxp PiJUaGUgQ2 hlY2tsaXN0 IFZhbHVlIE ludmVzdG9y IOKAlCBBIF NtYXJ0ZXIg V2F5IHRvIF BpY2sgU3Rv Y2tzIjwvaT 4gZm9yIGZy ZWUKICAgIC AgICAgICAg ICAgICAgIC AgICAgPC9w PgoKICAgIC AgICAgICAg ICAgICAgIC AgICAgPCEt LQogICAgIC AgICAgICAg ICAgICAgIC AgICA8ZGl2 IHN0eWxlPS dtYXJnaW4t dG9wOiAxMn B4OyBmb250 LXNpemU6ID EzcHg7IGNv bG9yOiAjND Q0Oyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBTaWdu IHVwIG5vdy BhbmQgZ2V0 IG91ciBmcm VlIGVCb29r IAogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg PGI+VGhlIE NoZWNrbGlz dCBWYWx1ZS BJbnZlc3Rv ciDigJQgQS BTbWFydGVy IFdheSB0by BQaWNrIFN0 b2NrczwvYj 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgPC9kaX Y+CiAgICAg ICAgICAgIC AgICAgICAg ICAgIC0tPg ogICAgICAg ICAgICAgIC AgICAgICAg ICA8IS0tCi AgICAgICAg ICAgICAgIC AgICAgICAg IDxkaXYgc3 R5bGU9J21h cmdpbi10b3 A6IDE2cHg7 IGZvbnQtc2 l6ZTogMTRw eDsgY29sb3 I6ICM0NDQ7 IGZvbnQtZm FtaWx5OiAt YXBwbGUtc3 lzdGVtLCBC bGlua01hY1 N5c3RlbUZv bnQsIFNlZ2 9lIFVJLCBS b2JvdG8sIE hlbHZldGlj YSBOZXVlLC BzYW5zLXNl cmlmOyBsaW 5lLWhlaWdo dDogMS42Oy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC BIYXZlIHlv dSBoZWFyZC BhYm91dCBv dXIgc2hvcn QgPHN0cm9u ZyBzdHlsZT 0nZm9udC13 ZWlnaHQ6ID YwMDsnPkRh aWx5IFZpZG VvIE5ld3Ns ZXR0ZXI8L3 N0cm9uZz4/ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICA8 YSBocmVmPS dodHRwczov L3d3dy5pbn NpZ2h0ZnVs dmFsdWUuY2 9tL25ld3Ns ZXR0ZXIucG hwJyB0YXJn ZXQ9J19ibG Fuaycgc3R5 bGU9J2NvbG 9yOiAjMDA3 QkZGOyB0ZX h0LWRlY29y YXRpb246IG 5vbmU7IGZv bnQtd2VpZ2 h0OiA1MDA7 IG1hcmdpbi 1sZWZ0OiA2 cHg7Jz4KIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC BGaW5kIG91 dCBtb3JlCi AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICA8L2 E+CiAgICAg ICAgICAgIC AgICAgICAg ICAgIDwvZG l2PgogICAg ICAgICAgIC AgICAgICAg ICAgICAtLT 4KICAgICAg ICAgICAgIC AgICAgICA8 L2Rpdj4KIC AgICAgICAg ICAgICAgID wvZGl2Pgog ICAgICAgIC AgICA8L2Rp dj4KICAgIC AgICAgICAg CiAgICAgIC AgCiAgICAg ICAgPHNwYW 4gY2xhc3M9 J2JsdXJyZW QtdGV4dCc+ CiAgICAgIC AgICAgIExT QlVjblZ6ZE UgTnZJRUpo Ym1zZyBRMj l5Y0NCT1dT IEJwY3lCaE lIQjEgWW14 cFkyeDVJSC BSeVlXUmxa Q0JtIGFXNW hibU5wWVcg d2djMlZ5ZG 1saiBaWE1n YUc5c1pHIG x1WnlCamIy MXcgWVc1NU lHSmhjMiBW a0lHbHVJRW RzIFpXNTJh V3hzWlMgd2 dUbVYzSUZs diBjbXN1UE dKeVBpIDBn VkdobElHTn YgYlhCaGJu a2dkMiBGek lHWnZkVzVr IFpXUWdhVz RnTVQga3dN aUJoY3lCVC BZMmhsYm1W amRHIEZrZV NCVWNuVnog ZENCRGIyMX dZVyA1NUlH RnVaQ0JzIF lYUmxjaUJq YUcgRnVaMl ZrSUdsMCBj eUJ1WVcxbE lIIFJ2SUZS eWRYTjAgUT I4Z1FtRnVh eSBCcGJpQX hPVGc1IExq eGljajR0SU YgUnlkWE4w UTI4ZyBRbU Z1YXlCRGIz IEp3SUU1Wk lHOXcgWlhK aGRHVnpJRC BFME5pQmlZ VzVyIGFXNW 5JRzltWm0g bGpaWE1nYV c0ZyBUbVYz SUZsdmNtIH NzSUU1bGR5 QksgWlhKel pYa3NJRiBa bGNtMXZibl FzIElFMWhj M05oWTIgaD FjMlYwZEhN cyBJR0Z1Wk NCR2JHIDl5 YVdSaExqeG kgY2o0dElG Um9aUyBCam IyMXdZVzU1 IElHOW1abV Z5Y3kgQmhJ SGRwWkdVZy BjbUZ1WjJV Z2IyIFlnWm 1sdVlXNWog YVdGc0lIQn liMiBSMVkz UnpJR0Z1IF pDQnpaWEoy YVcgTmxjeU JwYm1OcyBk V1JwYm1jZ1 pHIFZ3YjNO cGRDQmggWT JOdmRXNTBj eSB3Z2JHOW hibk1zIElH MXZjblJuWV cgZGxjeXdn WVc1ayBJR2 x1YzNWeVlX IDVqWlM0OF luSSsgTFNC VWNuVnpkRS BOdklFSmhi bXNnIFEyOX ljQ0JPV1Mg Qm9ZWE1nWW 1WbCBiaUJ5 WldOdloyID VwZW1Wa0lH RnogSUc5dV pTQnZaaSBC QmJXVnlhV0 5oIDRvQ1pj eUExTUMgQk 5iM04wSUZS eSBkWE4wZD I5eWRHIGg1 SUVacGJtRn UgWTJsaGJD QkRiMiAxd1 lXNXBaWE1n IFlua2dSbT l5WW0gVnpJ RTFoWjJGNi BhVzVsTGp4 aWNqIDR0SU ZSb1pTQmog YjIxd1lXNT U0byBDWmN5 QnpkRzlqIG F5QnBjeUIw Y20gRmtaV1 FnYjI0ZyBk R2hsSUU1Ql UwIFJCVVNC emRHOWogYX lCbGVHTm9Z VyA1blpTQj FibVJsIGNp QjBhR1VnZE cgbGphMlZ5 SUhONSBiV0 p2YkNCVVVs IE5VTGp4aW NqNHQgSUVs dUlESXdNVC Brc0lGUnlk WE4wIFEyOG dRbUZ1YXkg QkRiM0p3SU U1WiBJSGRo Y3lCeVlXID VyWldRZ1lY TWcgZEdobE lIUm9hWCBK a0lHSmxjM1 FnIFltRnVh eUJwYmkgQk 9aWGNnV1c5 eSBheUJpZV NCR2IzIEpp WlhNZ1RXRm 4gWVhwcGJt VXVQRyBKeV BpMGdWR2hs IElHTnZiWE JoYm4ga2dh R0ZrSUhSdi BkR0ZzSUdG emMyIFYwY3 lCdlppQWsg TlM0MElHSn BiRyB4cGIy NGdZWE1nIG IyWWdSR1Zq WlcgMWlaWE lnTXpFcyBJ REl3TWpBdV BHIEp5UGkw Z1ZISjEgYz NSRGJ5QkNZ VyA1cklFTn ZjbkJ2IGNt RjBhVzl1NG 8gQ1pjeUJE YUdGcCBjbT FoYml3Z1VI IEpsYzJsa1 pXNTAgTENC aGJtUWdRMC BWUElHbHpJ Rkp2IFltVn lkQ0JLTGkg Qk5ZME52Y2 0xcCBZMnN1 UEdKeVBpID BnVkdobElH TnYgYlhCaG Jua2dhRyBG eklHSmxaVz RnIFkyOXRi V2wwZEcgVm tJSFJ2SUhO MSBjSEJ2Y2 5ScGJtIGNn ZEdobElHTn YgYlcxMWJt bDBhVyBWek lHbDBJSE5s IGNuWmxjeU IwYUggSnZk V2RvSUdOby BZWEpwZEdG aWJHIFVnWk c5dVlYUnAg YjI1eklHRn VaQyBCamIy MXRkVzVwIG RIa2diM1Yw Y20gVmhZMm dnY0hKdiBa M0poYlhNdQ ogICAgICAg IDwvc3Bhbj 4KICAgICAg ICAKICAgIC AgICA=