Parent Company Only (Tables)

12 Months Ended

Dec. 31, 2018

Parent Company Only [Abstract]

Statements of Comprehensive Income

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

 Statements of Comprehensive Income

(dollars in thousands)	Years ended December 31,
	2018			2017			2016
Income:
Dividends and interest from subsidiaries	$	24,920			24,510			24,498
Net gain on securities transactions		-			-			-
Miscellaneous income		-			-			-
Total income		24,920			24,510			24,498
Expense:
Operating supplies		122			26			21
Professional services		438			122			461
Miscellaneous expense		1,755			2,573			1,258
Total expense		2,315			2,721			1,740
Income before income taxes and subsidiaries’ undistributed earnings		22,605			21,789			22,758
Income tax benefit		(523	)		(1,171	)		(578	)
Income before subsidiaries’ undistributed earnings		23,128			22,960			23,336
Equity in undistributed earnings of subsidiaries		38,317			20,185			19,265
Net income	$	61,445			43,145			42,601
Change in other comprehensive (loss) income		(7,157	)		4,445			(1,470	)
Comprehensive income	$	54,288			47,590			41,131

Statements of Condition

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

Statements of Condition

(dollars in thousands)	December 31,
	2018		2017
Assets:
Cash in subsidiary bank	$	22,665		21,773
Investments in subsidiaries		474,838		443,692
Securities available for sale		35		35
Other assets		683		771
Total assets		498,221		466,271
Liabilities and shareholders’ equity:
Accrued expenses and other liabilities		8,350		7,964
Total liabilities		8,350		7,964
Shareholders’ equity		489,871		458,307
Total liabilities and shareholders’ equity	$	498,221		466,271

Statements of Cash Flows

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

Statements of Cash Flows

(dollars in thousands)	Years ended December 31,
	2018			2017			2016
Increase/(decrease) in cash and cash equivalents:
Cash flows from operating activities:
Net income	$	61,445			43,145			42,601
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries		(38,317	)		(20,185	)		(19,265	)
Stock based compensation expense		173			150			224
Net change in other assets and accrued expenses		214			853			(196	)
Total adjustments		(37,930	)		(19,182	)		(19,237	)
Net cash provided by operating activities		23,515			23,963			23,364
Cash flows from financing activities:
Proceeds from exercise of stock options		1,259			5,236			1,368
Dividends paid		(25,555	)		(25,184	)		(25,055	)
Payments to acquire treasury stock		(718	)		(4,608	)		(701	)
Proceeds from sales of treasury stock		2,391			2,480			2,447
Net cash used in financing activities		(22,623	)		(22,076	)		(21,941	)
Net increase in cash and cash equivalents		892			1,887			1,423
Cash and cash equivalents at beginning of year		21,773			19,886			18,463
Cash and cash equivalents at end of year	$	22,665			21,773			19,886