Parent Company Only

12 Months Ended

Dec. 31, 2015

Parent Company Only [Abstract]

Parent Company Only

(19) Parent Company Only

The following statements pertain to TrustCo Bank Corp NY (Parent Company):

Statements of Income
(dollars in thousands)	Years Ended December 31,
Income:	2015			2014			2013
Dividends and interest from subsidiaries	$	24,501			24,499			24,491
Miscellaneous income		-			18			-
Total income		24,501			24,517			24,491
Expense:
Operating supplies		33			50			81
Professional services		577			557			491
Miscellaneous expense		664			1,350			1,042
Total expense		1,274			1,957			1,614
Income before income taxes and subsidiaries' undistributed earnings		23,227			22,560			22,877
Income tax benefit		(405	)		(663	)		(548	)
Income before subsidiaries' undistributed earnings		23,632			23,223			23,425
Equity in undistributed earnings of subsidiaries		18,606			20,970			16,387
Net income	$	42,238			44,193			39,812

Statements of Condition
(dollars in thousands)	December 31,
Assets:	2015		2014
Cash in subsidiary bank	$	18,463		17,034
Investments in subsidiaries		401,289		382,968
Securities available for sale		35		35
Other assets		967		918
Total assets		420,754		400,955
Liabilities and shareholders' equity:
Accrued expenses and other liabilities		7,444		7,511
Total liabilities		7,444		7,511
Shareholders' equity		413,310		393,444
Total liabilities and shareholders' equity	$	420,754		400,955

Statements of Cash Flows
(dollars in thousands)	Years Ended December 31,
	2015			2014			2013
Increase/(decrease) in cash and cash equivalents:
Cash flows from operating activities:
Net income	$	42,238			44,193			39,812
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries		(18,606	)		(20,970	)		(16,387	)
Stock based compensation expense		204			325			378
Net change in other assets and accrued expenses		(140	)		388			277
Total adjustments		(18,542	)		(20,257	)		(15,732	)
Net cash provided by operating activities		23,696			23,936			24,080
Cash flows from investing activities:
Purchases of securities available for sale		-			(25	)		-
Net cash used in investing activities		-			(25	)		-
Cash flows from financing activities:
Proceeds from exercise of stock options and related tax benefits		147			131			36
Dividends paid		(24,937	)		(24,839	)		(24,711	)
Payments to acquire treasury stock		(147	)		(282	)		-
Proceeds from sales of treasury stock		2,670			2,850			2,908
Net cash used in financing activities		(22,267	)		(22,140	)		(21,767	)
Net increase in cash and cash equivalents		1,429			1,771			2,313
Cash and cash equivalents at beginning of year		17,034			15,263			12,950
Cash and cash equivalents at end of year	$	18,463			17,034			15,263