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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Interest and dividend income:      
Interest and fees on loans $ 141,887 $ 135,960 $ 127,944
Interest and dividends on securities available for sale:      
U. S. government sponsored enterprises 1,418 1,417 2,600
State and political subdivisions 87 179 562
Mortgage-backed securities and collateralized mortgage obligations-residential 9,132 12,150 11,385
Corporate bonds 1 65 812
Small Business Administration-guaranteed participation securities 2,004 2,154 2,180
Mortgage-backed securities and collateralized mortgage obligations-commercial 149 151 144
Other 16 16 17
Total interest and dividends on securities available for sale 12,807 16,132 17,700
Interest on held to maturity securities:      
Mortgage-backed securities and collateralized mortgage obligations-residential 1,844 2,259 2,840
Corporate bonds 615 615 833
Total interest on held to maturity securities 2,459 2,874 3,673
Federal Reserve Bank and Federal Home Loan Bank stock 467 511 490
Interest on federal funds sold and other short-term investments 1,725 1,464 1,240
Total interest and dividend income 159,345 156,941 151,047
Interest expense:      
Interest on deposits 14,983 14,091 13,800
Interest on short-term borrowings 1,214 1,397 1,483
Total interest expense 16,197 15,488 15,283
Net interest income 143,148 141,453 135,764
Provision for loan losses 3,700 5,100 7,000
Net interest income after provision for loan losses 139,448 136,353 128,764
Noninterest income:      
Trustco Financial Services income 5,971 5,837 5,301
Fees for services to customers 10,689 10,844 11,675
Net gain on securities transactions 251 717 1,622
Other 961 2,508 1,172
Total noninterest income 17,872 19,906 19,770
Noninterest expense:      
Salaries and employee benefits 32,521 32,879 32,424
Net occupancy expense 15,799 16,251 16,100
Equipment expense 6,871 7,219 6,381
Professional services 7,878 5,807 5,649
Outsourced services 5,860 5,350 5,125
Advertising expense 2,593 2,487 2,827
FDIC and other insurance expense 6,339 3,907 3,975
Other real estate expense, net 2,001 1,009 3,598
Other 10,698 9,761 8,926
Total noninterest expense 90,560 84,670 85,005
Income before income taxes 66,760 71,589 63,529
Income taxes 24,522 27,396 23,717
Net income $ 42,238 $ 44,193 $ 39,812
Earnings per share:      
Basic (in dollars per share) $ 0.444 $ 0.467 $ 0.422
Diluted (in dollars per share) $ 0.444 $ 0.466 $ 0.422