XML 14 R2.htm IDEA: XBRL DOCUMENT v3.25.3
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest and dividend income:        
Interest and fees on loans $ 55,953 $ 52,112 $ 163,960 $ 152,576
Interest and dividends on securities available for sale:        
U. S. government sponsored enterprises 599 718 1,809 2,533
State and political subdivisions 1 0 1 1
Mortgage-backed securities and collateralized mortgage obligations - residential 1,583 1,397 4,679 4,342
Corporate bonds 265 361 735 1,199
Small Business Administration-guaranteed participation securities 72 90 228 284
Other securities 7 2 22 7
Total interest and dividends on securities available for sale 2,527 2,568 7,474 8,366
Interest on held to maturity securities:        
Mortgage-backed securities and collateralized mortgage obligations-residential 52 62 163 195
Total interest on held to maturity securities 52 62 163 195
Federal Home Loan Bank stock 125 153 405 452
Interest on federal funds sold and other short-term investments 7,376 6,174 21,320 19,818
Total interest income 66,033 61,069 193,322 181,407
Interest on deposits:        
Interest-bearing checking 483 311 1,577 839
Savings accounts 741 770 2,208 2,157
Money market deposit accounts 2,065 2,154 6,140 6,724
Time deposits 19,427 18,969 57,605 58,046
Interest on short-term borrowings 198 194 554 604
Total interest expense 22,914 22,398 68,084 68,370
Net interest income 43,119 38,671 125,238 113,037
Provision for credit losses 250 500 1,200 1,600
Net interest income after provision for credit losses 42,869 38,171 124,038 111,437
Noninterest income:        
Trustco financial services income 1,967 2,044 5,905 5,469
Fees for services to customers 2,429 2,482 7,340 7,626
Net gains on equity securities [1] 0 23 0 1,383
Other 293 382 1,270 947
Total noninterest income 4,689 4,931 14,515 15,425
Noninterest expenses:        
Salaries and employee benefits 12,727 12,134 36,497 36,081
Net occupancy expense 4,470 4,271 13,542 13,257
Equipment expense 1,938 1,757 5,800 5,485
Professional services 1,571 1,863 5,183 4,893
Outsourced services 2,492 2,551 7,652 7,807
Advertising expense 290 339 955 1,213
FDIC and other insurance 1,052 1,112 3,376 3,003
Other real estate expense, net 8 204 558 294
Other 1,694 1,969 5,231 5,529
Total noninterest expenses 26,242 26,200 78,794 77,562
Income before taxes 21,316 16,902 59,759 49,300
Income taxes 5,058 4,027 14,187 11,748
Net income $ 16,258 $ 12,875 $ 45,572 $ 37,552
Net income per share:        
- Basic (in Dollars per share) $ 0.87 $ 0.68 $ 2.41 $ 1.97
- Diluted (in Dollars per share) $ 0.86 $ 0.68 $ 2.41 $ 1.97
[1] Not within the scope of ASC 606.