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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest and dividend income:        
Interest and fees on loans $ 38,956 $ 36,662 $ 77,047 $ 72,706
Interest and dividends on securities available for sale:        
U. S. government sponsored enterprises 787 607 1,537 1,202
State and political subdivisions 6 11 13 23
Mortgage-backed securities and collateralized mortgage obligations 1,670 1,965 3,475 3,946
Corporate bonds 150 154 283 305
Small Business Administration-guaranteed participation securities 333 394 685 809
Other securities 4 4 9 8
Total interest and dividends on securities available for sale 2,950 3,135 6,002 6,293
Interest on held to maturity securities:        
Mortgage-backed securities and collateralized mortgage obligations-residential 244 296 504 612
Corporate bonds 0 154 0 308
Total interest on held to maturity securities 244 450 504 920
Federal Reserve Bank and Federal Home Loan Bank stock 198 134 275 268
Interest on federal funds sold and other short-term investments 2,467 1,727 4,484 2,973
Total interest income 44,815 42,108 88,312 83,160
Interest on deposits:        
Interest-bearing checking 112 134 218 258
Savings 420 435 839 865
Money market deposit accounts 452 468 891 934
Time deposits 3,439 2,181 6,299 4,464
Interest on short-term borrowings 283 349 641 698
Total interest expense 4,706 3,567 8,888 7,219
Net interest income 40,109 38,541 79,424 75,941
Provision for loan losses 300 550 600 1,150
Net interest income after provision for loan losses 39,809 37,991 78,824 74,791
Noninterest income:        
Trustco financial services income 1,596 1,425 3,411 3,283
Fees for Services to Customers 2,677 2,797 5,322 5,434
Other 222 282 441 514
Total noninterest income 4,495 4,504 9,174 9,231
Noninterest expenses:        
Salaries and employee benefits 10,741 9,559 21,163 19,769
Net occupancy expense 4,101 4,267 8,416 8,376
Equipment expense 1,793 1,428 3,544 2,984
Professional services 1,814 1,963 3,244 3,891
Outsourced services 1,825 1,500 3,750 3,000
Advertising expense 670 607 1,300 1,320
FDIC and other insurance 514 1,012 1,537 2,059
Other real estate income net   (4)    
Other real estate expense net 294   666 495
Other 2,343 2,581 4,630 5,038
Total noninterest expenses 24,095 22,913 48,250 46,932
Income before taxes 20,209 19,582 39,748 37,090
Income taxes 4,804 7,342 9,535 13,903
Net income $ 15,405 $ 12,240 $ 30,213 $ 23,187
Net income per share:        
Basic (in dollars per share) $ 0.160 $ 0.127 $ 0.313 $ 0.242
Diluted (in dollars per share) $ 0.160 $ 0.127 $ 0.313 $ 0.241