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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Interest and dividend income:      
Interest and fees on loans $ 143,679 $ 141,887 $ 135,960
Interest and dividends on securities available for sale:      
U. S. government sponsored enterprises 1,489 1,418 1,417
State and political subdivisions 52 87 179
Mortgage-backed securities and collateralized mortgage obligations-residential 7,963 9,132 12,150
Corporate bonds 246 1 65
Small Business Administration-guaranteed participation securities 1,801 2,004 2,154
Mortgage-backed securities and collateralized mortgage obligations-commercial 133 149 151
Other 16 16 16
Total interest and dividends on securities available for sale 11,700 12,807 16,132
Interest on held to maturity securities:      
Mortgage-backed securities and collateralized mortgage obligations-residential 1,454 1,844 2,259
Corporate bonds 617 615 615
Total interest on held to maturity securities 2,071 2,459 2,874
Federal Reserve Bank and Federal Home Loan Bank stock 502 467 511
Interest on federal funds sold and other short-term investments 3,407 1,725 1,464
Total interest and dividend income 161,359 159,345 156,941
Interest expense:      
Interest on deposits 14,213 14,983 14,091
Interest on short-term borrowings 1,091 1,214 1,397
Total interest expense 15,304 16,197 15,488
Net interest income 146,055 143,148 141,453
Provision for loan losses 2,950 3,700 5,100
Net interest income after provision for loan losses 143,105 139,448 136,353
Noninterest income:      
Trustco Financial Services income 5,886 5,971 5,837
Fees for services to customers 10,857 10,689 10,844
Net gain on securities transactions 668 251 717
Other 1,601 961 2,508
Total noninterest income 19,012 17,872 19,906
Noninterest expense:      
Salaries and employee benefits 36,508 32,521 32,879
Net occupancy expense 16,078 15,799 16,251
Equipment expense 6,320 6,871 7,219
Professional services 8,200 7,878 5,807
Outsourced services 6,216 5,860 5,350
Advertising expense 2,515 2,593 2,487
FDIC and other insurance expense 5,967 6,339 3,907
Other real estate expense, net 2,558 2,001 1,009
Other 9,465 10,698 9,761
Total noninterest expense 93,827 90,560 84,670
Income before income taxes 68,290 66,760 71,589
Income taxes 25,689 24,522 27,396
Net income $ 42,601 $ 42,238 $ 44,193
Earnings per share:      
Basic (in dollars per share) $ 0.446 $ 0.444 $ 0.467
Diluted (in dollars per share) $ 0.445 $ 0.444 $ 0.466