Trust company

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Trust company

An organization that acts as a fiduciary and administers trusts.

Trust Company

A company, usually a division of a bank or brokerage, that acts as a trustee. In this relationship, one party, known as the trustor, gives to the trustee the right to hold and invest assets or property on behalf of a third party, known as the beneficiary. Most trusts exist to provide for the financial future of a minor child or mentally incompetent person, or may benefit charitable organizations. Many trusts are exempt from taxation on money given to the beneficiary, but trust companies may charge a fee in order to administer the assets. See also: Trust.

References in periodicals archive ?

Examiners stated that Trust Company offered a number of innovative and flexible lending products to increase lending in LMI geographies and to LMI borrowers, including Federal Housing Administration ("FHA") mortgages, which were offered throughout Trust Company's assessment areas.

Trust Company made more than 19,800 small business loans during the review period, totaling more than $2.

During the evaluation period, Trust Company extended qualified community development loan commitments totaling $294 million and issued $35 million in letters of credit for affordable housing and other community development purposes.