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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest and dividend income:    
Interest and fees on loans $ 49,804 $ 44,272
Interest and dividends on securities available for sale:    
U. S. government sponsored enterprises 906 692
Mortgage-backed securities and collateralized mortgage obligations - residential 1,494 1,585
Corporate bonds 476 521
Small Business Administration-guaranteed participation securities 100 117
Other securities 3 2
Total interest and dividends on securities available for sale 2,979 2,917
Interest on held to maturity securities:    
Mortgage-backed securities and collateralized mortgage obligations-residential 68 78
Total interest on held to maturity securities 68 78
Federal Home Loan Bank stock 152 110
Interest on federal funds sold and other short-term investments 6,750 6,555
Total interest income 59,753 53,932
Interest on deposits:    
Interest-bearing checking 240 66
Savings accounts 712 530
Money market deposit accounts 2,342 814
Time deposits 19,677 5,272
Interest on short-term borrowings 204 285
Total interest expense 23,175 6,967
Net interest income 36,578 46,965
Provision for credit losses 600 300
Net interest income after provision for credit losses 35,978 46,665
Noninterest income:    
Trustco financial services income 1,816 1,774
Fees for services to customers 2,745 2,648
Other 282 247
Total noninterest income 4,843 4,669
Noninterest expenses:    
Salaries and employee benefits 11,427 13,283
Net occupancy expense 4,611 4,598
Equipment expense 1,738 1,962
Professional services 1,460 1,607
Outsourced services 2,501 2,296
Advertising expense 408 390
FDIC and other insurance 1,094 1,052
Other real estate expense, net 74 225
Other 1,590 2,266
Total noninterest expenses 24,903 27,679
Income before taxes 15,918 23,655
Income taxes 3,792 5,909
Net income $ 12,126 $ 17,746
Net income per share:    
Basic (in dollars per share) $ 0.64 $ 0.93
Diluted (in dollars per share) $ 0.64 $ 0.93