v3.26.3
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Interest and dividend income:        
Interest and fees on loans $ 60,875 $ 55,953 $ 177,197 $ 163,960
Interest and dividends on securities available for sale:        
U. S. government sponsored enterprises 86 599 346 1,809
State and political subdivisions 0 1 0 1
Mortgage-backed securities and collateralized mortgage obligations - residential 1,509 1,583 4,464 4,679
Corporate bonds 820 265 2,290 735
Small Business Administration-guaranteed participation securities 56 72 178 228
Other securities 8 7 23 22
Total interest and dividends on securities available for sale 2,479 2,527 7,301 7,474
Interest on held to maturity securities:        
Mortgage-backed securities and collateralized mortgage obligations - residential 43 52 134 163
Total interest on held to maturity securities 43 52 134 163
Federal Home Loan Bank stock 112 125 361 405
Interest on federal funds sold and other short-term investments 6,098 7,376 18,547 21,320
Total interest income 69,607 66,033 203,540 193,322
Interest on deposits:        
Interest-bearing checking 642 483 1,726 1,577
Savings accounts 730 741 2,108 2,208
Money market deposit accounts 1,597 2,065 4,780 6,140
Time deposits 19,245 19,427 56,465 57,605
Interest on short-term borrowings 354 198 1,124 554
Total interest expense 22,568 22,914 66,203 68,084
Net interest income 47,039 43,119 137,337 125,238
Provision for credit losses 850 250 2,450 1,200
Net interest income after provision for credit losses 46,189 42,869 134,887 124,038
Noninterest income:        
Trustco financial services income 2,059 1,967 6,174 5,905
Fees for services to customers 2,409 2,429 7,236 7,340
Net gains on equity securities [1] 56 0 900 0
Other 294 293 1,261 1,270
Total noninterest income 4,818 4,689 15,571 14,515
Noninterest expenses:        
Salaries and employee benefits 12,776 12,727 38,042 36,497
Net occupancy expense 4,526 4,470 13,449 13,542
Equipment expense 2,306 1,938 6,410 5,800
Professional services 1,744 1,571 5,238 5,183
Outsourced services 2,800 2,492 8,204 7,652
Advertising expense 468 290 1,448 955
FDIC and other insurance 1,104 1,052 3,358 3,376
Other real estate (income) expense, net (12) 8 150 558
Other 2,307 1,694 7,035 5,231
Total noninterest expenses 28,019 26,242 83,334 78,794
Income before taxes 22,988 21,316 67,124 59,759
Income taxes 5,670 5,058 16,556 14,187
Net income $ 17,318 $ 16,258 $ 50,568 $ 45,572
Net income per share:        
- Basic (in Dollars per share) $ 1.03 $ 0.87 $ 2.92 $ 2.41
- Diluted (in Dollars per share) $ 1.02 $ 0.86 $ 2.91 $ 2.41
[1] Not within the scope of ASC 606.