TrustCo Bank Corp NY amended the company's corporate governance guidelines on directors' mandatory retirement age.

The updated guidelines, for both the Glenville, N.Y.-based company and subsidiary TrustCo Bank, require those who took board seats during or after calendar year 2017 to retire no later than Dec. 31 of the year they turn 72.

The mandatory retirement may be waived under certain conditions, but for intervals of no more than two years. Directors may not serve past Dec. 31 of the year they turn 76.