Trust Company of America is headquartered in Centennial and is the 13th largest bank in the state of Colorado. It is also the 1,040th largest bank in the nation. It was established in 1992 and as of September of 2016, it had grown to 175 employees at 1 location. Trust Company of America has a B health rating.
I have had an IRA account with this firm for more than 25 years, with very little activity over that time (I was required to have an account with a trust company in order to hold the type of asset as an IRA). They did send me quarterly statements, as required, and have lately been charging me $175 annually for this. Recently, the asset in the account was sold, and I decided to roll the IRA to Vanguard, whose fees on IRAs are zero. I then got a notice from Trust Company of America that they were raising the annual account fee to $550, effective immediately, AND imposing a 1% fee on any transfers to other institutions. Total additional cost to me: $1500. Vanguard says its highly unusual for a firm to impose a big charge on an IRA rollover. But The Colorado Department of Bank Regulation says there's no law against the practice in Colorado. I'm closing my account, and would advise others to stay away from them.
|FDIC Certificate #||33639|
|Return on Assets - YTD||1.33%|
|Return on Equity - YTD||20.61%|
|Annual Interest Income||$6.8MM|
|Assets and Liabilities|
|Assets||Q3 2016vs Q3 2015||$700.3MM$807.3MM|
|Loans||Q3 2016vs Q3 2015||$0$0|
|Deposits||Q3 2016vs Q3 2015||$652.6MM$762.7MM|
|Equity Capital||Q3 2016vs Q3 2015||$45.5MM$42.3MM|
|Loan Loss Allowance||Q3 2016vs Q3 2015||$0$0|
|Unbacked Noncurrent Loans||Q3 2016vs Q3 2015||$0$0|
|Real Estate Owned||Q3 2016vs Q3 2015||$0$0|
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|Trust Company of America Locations|
|Trust Company Of America||7103 South Revere Parkway||Centennial, CO 80112|