XML 30 R2.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest and dividend income:        
Interest and fees on loans $ 35,631 $ 34,421 $ 105,957 $ 100,909
Interest and dividends on securities available for sale:        
U. S. government sponsored enterprises 584 297 1,162 1,184
State and political subdivisions 23 38 71 150
Mortgage-backed securities and collateralized mortgage obligations-residential 2,230 3,040 6,899 9,417
Corporate bonds 0 2 1 63
Small Business Administration-guaranteed participation securities 497 535 1,522 1,630
Mortgage-backed securities and collateralized mortgage obligations-commercial 37 38 112 114
Other securities 4 4 12 12
Total interest and dividends on securities available for sale 3,375 3,954 9,779 12,570
Interest on held to maturity securities:        
Mortgage-backed securities and collateralized mortgage obligations-residential 461 545 1,419 1,747
Corporate bonds 153 153 461 461
Total interest on held to maturity securities 614 698 1,880 2,208
Federal Reserve Bank and Federal Home Loan Bank stock 113 127 347 388
Interest on federal funds sold and other short-term investments 408 374 1,231 1,101
Total interest income 40,141 39,574 119,194 117,176
Interest on deposits:        
Interest-bearing checking 117 94 333 267
Savings 603 644 1,860 1,999
Money market deposit accounts 537 648 1,701 1,865
Time deposits 2,544 2,213 7,478 6,199
Interest on short-term borrowings 290 327 936 1,062
Total interest expense 4,091 3,926 12,308 11,392
Net interest income 36,050 35,648 106,886 105,784
Provision for loan losses 800 1,100 2,400 4,100
Net interest income after provision for loan losses 35,250 34,548 104,486 101,684
Noninterest income:        
Trustco financial services income 1,351 1,471 4,482 4,386
Fees for services to customers 2,770 2,838 7,985 8,091
Net gain on securities transactions 0 376 249 382
Other 244 205 726 2,295
Total noninterest income 4,365 4,890 13,442 15,154
Noninterest expenses:        
Salaries and employee benefits 7,834 8,272 24,479 23,876
Net occupancy expense 3,929 4,013 11,915 12,382
Equipment expense 1,596 1,725 5,341 5,300
Professional services 2,238 1,547 5,811 4,271
Outsourced services 1,425 1,375 4,275 4,125
Advertising expense 668 629 2,001 1,885
FDIC and other insurance 2,202 1,054 4,284 2,958
Other real estate expense, net 806 1,001 1,431 168
Other 2,766 2,576 7,915 7,465
Total noninterest expenses 23,464 22,192 67,452 62,430
Income before taxes 16,151 17,246 50,476 54,408
Income taxes 5,535 6,532 18,418 20,875
Net income $ 10,616 $ 10,714 $ 32,058 $ 33,533
Net income per share:        
Basic (in dollars per share) $ 0.112 $ 0.113 $ 0.337 $ 0.354
Diluted (in dollars per share) $ 0.111 $ 0.113 $ 0.337 $ 0.354