TrustCo Bank Corp NY (TRST) 8-K Results of Operations and Financial Condition

Exhibit 99(a)

  News Release  

5 Sarnowski Drive, Glenville, New York, 12302

(518) 377-3311  Fax:  (518) 381-3668

Subsidiary:  Trustco Bank		NASDAQ -- TRST
Contact:	Kevin T. Timmons
	Vice President/Treasurer
	(518) 381-3607

FOR IMMEDIATE RELEASE:

TrustCo Announces First Quarter Pretax Earnings Up 25%;

Net Income Up 21%

Glenville, New York –April 23, 2012

TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced net income for the first quarter of 2012 of $8.9 million, up 20.7% over the prior-year period and equal to diluted earnings per share of $0.095, compared to net income of $7.4 million and diluted earnings per share of $0.096 for the first quarter of 2011.  First quarter 2012 per share results include the full quarter effect of the common stock offering completed on July 6, 2011.

On a pre-tax basis, earnings were up 24.6% from $11.4 million in the first quarter of 2011 to $14.2 million in the first quarter of 2012.  The first quarter of 2012 also saw continued core balance sheet growth.  Robert J. McCormick, President and Chief Executive Officer noted, “We are pleased that the first quarter resulted in solid earnings gains and continued core loan and deposit growth.  We look forward to the rest of 2012 with optimism, though we note that our industry continues to face challenges.  Return on average equity and return on average assets were 10.45% and 0.84%, respectively, for the first quarter of 2012, compared to 11.61% and 0.75% for the first quarter of 2011.  Increased capital from the common stock offering led to a lower return on average equity for the first quarter of 2012.  The efficiency ratio was 52.51% for the first quarter of 2012, compared to 52.18% for the first quarter of 2011.

Mr. McCormick also noted “We continue to see some signs of economic improvement in the markets in which we operate, although some core problems remain, particularly high levels of unemployment. We believe our long-term focus on traditional lending criteria and conservative balance sheet management has helped us avoid most of the problems that have affected many banks, which has enabled us to maintain a strong balance sheet with continued profitability.  As a result, we have been able to focus on conducting business, which has put us in a position to take advantage of the significant upheaval that customers of other banks have seen.  We are particularly encouraged by the continued growth of our core loan and deposit portfolios.”

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TrustCo continued to report solid growth in loans and deposits on a year-over-year basis.  For the quarter ended March 31, 2012, average loans were up $171.2 million or 7.3% compared to the same period in 2011, while average deposits increased $197.6 million or 5.5% over the same period.  One new office was added to the branch network, with 137 offices open at the end of the quarter.  Mr. McCormick noted that, “In addition to growth throughout the franchise, we are especially pleased with the progress that we have made in growing loans and deposits through our recently completed branch expansion program.  We remain mindful that fully achieving our goals for our newer branches will take time and continued hard work.  We believe our success in growing customer relationships provides the basic building blocks that will help drive profit growth over the coming years.”

Nonperforming loans were $51.2 million as of March 31, 2012, compared to $48.8 million at December 31, 2011 and $50.4 million at March 31, 2011.  Nonperforming assets were $54.9 million at March 31, 2012, compared to $54.0 million at December 31, 2011 and $57.1 million at March 31, 2011.  At March 31, 2012, nonperforming loans were equal to 2.03% of total loans, compared to 1.93% at December 31, 2011 and 2.14% at March 31, 2011.  Nonperforming assets to total assets fell to 1.25% at March 31, 2012, compared to 1.27% at December 31, 2011 and 1.42% at March 31, 2011.  The allowance for loan losses as a percentage of gross loans and as a multiple of net charge-offs remains strong.  Allowance to total loans were 1.92% at March 31, 2012, compared to 1.85% at March 31, 2011, and covered annualized first quarter net charge-offs by 3.7 times, compared to an annualized 3.9 times for the first quarter of 2011.  The coverage ratio, or allowance for loan losses to nonperforming loans was 94.9% at March 31, 2012, compared to 99.9% at December 31, 2011 and 86.7% at March 31, 2011.

Net interest margin for the first quarter of 2012 was 3.23%, down from 3.35% in the fourth quarter of 2011 and from 3.40% in the first quarter of 2011.  The decline in the margin reflects the continued effect of the low rate environment on both the loan and investment portfolios, partly offset by lower deposit pricing as well as management’s decision to maintain a higher level of short term liquidity.

On July 6, 2011 the Company completed an offering of 15.6 million common shares, raising net proceeds of $67.6 million.  The additional capital significantly improved the Company’s capital position.  At March 31, 2012 the tangible equity ratio was 7.87% compared to 6.44% at March 31, 2011.  Tangible book value per share also increased, from $3.34 per share to $3.68 per share over that period.

TrustCo Bank Corp NY is a $4.4 billion savings and loan holding company and through its subsidiary, Trustco Bank, operated 137 offices in New York, New Jersey, Vermont, Massachusetts, and Florida at March 31, 2011.

In addition, the Bank’s Financial Services Department offers a full range of investment services, retirement planning and trust and estate administration services. The common shares of TrustCo are traded on the NASDAQ Global Select Market under the symbol TRST.

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A conference call to discuss first quarter 2012 results will held at 9:00 a.m. Eastern Time on April 24, 2012.  Those wishing to participate in the call may dial toll-free 1-877-317-6789.  International callers must dial + 1-412-317-6789.   A replay of the call will be available until July 24, 2012 by dialing 1-877-344-7529 (1-412-317-0088 for international callers), Conference Number 10012389. The call will also be audio webcast at: http://services.choruscall.com/links/trst120424.html, and will be available until April 24, 2013.

Safe Harbor Statement

All statements in this news release that are not historical are forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended. The “forward-looking statements” may include statements regarding future events or performance and statements regarding TrustCo’s ability to offer and sell securities under its shelf registration statement. Such forward-looking statements are subject to factors that could cause actual results to differ materially for TrustCo from those discussed. TrustCo wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The following important factors, among others, in some cases have affected and in the future could affect our actual results and could cause our actual financial performance to differ materially from that expressed in any forward-looking statement: credit risk, the effects of and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System, inflation, interest rates, market and monetary fluctuations, competition, the effect of changes in financial services laws and regulations (including laws concerning taxation, banking and securities), real estate and collateral values, changes in accounting policies and practices, as may be adopted by the bank regulatory agencies, the Financial Accounting Standards Board (“FASB”) or the Public Company Accounting Oversight Board; changes in local market areas and general business and economic trends and the matters described under the heading “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2011, as amended, and in our subsequent securities filings.

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TRUSTCO BANK CORP NY

GLENVILLE, NY

FINANCIAL HIGHLIGHTS

(dollars in thousands, except per share data)

(Unaudited)

	Three Months Ended
	03/31/12			12/31/11			03/31/11
Summary of operations
Net interest income (TE)	$	33,637		$	34,220			32,924
Provision for loan losses		3,100			4,200			4,600
Net securities transactions		677			132			287
Noninterest income		3,841			3,604			3,984
Noninterest expense		20,644			18,909			20,846
Net income		8,909			8,714			7,382
Per common share
Net income per share:
- Basic	$	0.095		$	0.093			0.096
- Diluted		0.095			0.093			0.096
Cash dividends		0.066			0.066			0.066
Tangible Book value at period end		3.68			3.62			3.34
Market price at period end		5.71			5.61			5.93
At period end
Full time equivalent employees		734			726			740
Full service banking offices		137			136			134
Performance ratios
Return on average assets		0.84	%		0.83	%		0.75
Return on average equity		10.45			10.15			11.61
Efficiency (1)		52.51			46.68			52.18
Net interest spread (TE)		3.14			3.26			3.31
Net interest margin (TE)		3.23			3.35			3.40
Dividend payout ratio		68.91			70.50			68.67
Capital ratio at period end
Consolidated tangible equity to tangible assets (2)		7.87			7.97			6.44
Asset quality analysis at period end
Nonperforming loans to total loans		2.03			1.93			2.14
Nonperforming assets to total assets		1.25			1.27			1.42
Allowance for loan losses to total loans		1.92			1.93			1.85
Coverage ratio (3)		0.9	X		1.0			0.9

(1) Calculated as noninterest expense (excluding ORE income/expense) divided by taxable equivalent net interest income plus noninterest income (excluding net securities transactions).

(2) The tangible equity ratio excludes $553,000 of intangibles from both equity and assets.

(3) Calculated as allowance for loan losses divided by total nonperforming loans.

TE = Taxable equivalent.

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CONSOLIDATED STATEMENTS OF INCOME

(dollars in thousands, except per share data)

(Unaudited)

	Three Months Ended
	3/31/2012		12/31/2011		9/30/2011		6/30/2011		3/31/2011
Interest and dividend income:
Interest and fees on loans	$	32,425		32,711		32,640		32,184		31,677
Interest and dividends on securities available for sale:
U. S. government sponsored enterprises		2,304		2,661		3,347		3,791		3,199
State and political subdivisions		410		490		557		640		784
Mortgage-backed securities and collateralized mortgage obligations-residential		1,093		1,083		778		622		608
Corporate bonds		822		886		953		1,081		1,139
Other securities		95		85		89		89		61
Total interest and dividends on securities available for sale		4,724		5,205		5,724		6,223		5,791
Interest on held to maturity securities:
U. S. government sponsored enterprises		25		97		164		-		-
Mortgage-backed securities and collateralized mortgage obligations-residential		1,290		1,151		1,186		1,240		1,188
Corporate bonds		509		590		565		595		715
Total interest on held to maturity securities		1,824		1,838		1,915		1,835		1,903
Interest on federal funds sold and other short-term investments		320		284		318		254		246
Total interest income		39,293		40,038		40,597		40,496		39,617
Interest expense:
Interest on deposits:
Interest-bearing checking		78		76		74		70		65
Savings		1,102		1,018		952		885		933
Money market deposit accounts		923		1,030		1,158		1,184		1,227
Time deposits		3,418		3,552		3,904		4,099		4,443
Interest on short-term borrowings		388		401		384		382		407
Total interest expense		5,909		6,077		6,472		6,620		7,075
Net interest income		33,384		33,961		34,125		33,876		32,542
Provision for loan losses		3,100		4,200		5,100		4,850		4,600
Net interest income after provision for loan losses		30,284		29,761		29,025		29,026		27,942
Noninterest income:
Trust department income		1,394		1,086		1,242		1,186		1,574
Fees for services to customers		2,240		2,305		2,189		2,325		2,094
Net gain on securities transactions		677		132		158		851		287
Other		207		213		214		209		316
Total noninterest income		4,518		3,736		3,803		4,571		4,271
Noninterest expenses:
Salaries and employee benefits		7,743		7,638		7,087		7,000		7,026
Net occupancy expense		3,795		3,664		3,614		3,672		3,737
Equipment expense		1,520		1,200		1,639		1,481		1,332
Professional services		1,436		1,411		1,152		1,681		1,485
Outsourced services		1,250		1,050		1,350		1,350		1,350
Advertising expense		809		607		763		708		706
FDIC and other insurance		880		577		835		1,392		1,851
Other real estate expense, net		966		1,254		754		2,095		1,590
Other		2,245		1,508		1,249		2,173		1,769
Total noninterest expenses		20,644		18,909		18,443		21,552		20,846
Income before taxes		14,158		14,588		14,385		12,045		11,367
Income taxes		5,249		5,874		5,160		4,279		3,985
Net income	$	8,909		8,714		9,225		7,766		7,382
Net income per Common Share:
- Basic	$	0.095		0.093		0.100		0.100		0.096
- Diluted		0.095		0.093		0.100		0.100		0.096
Average basic shares (thousands)		93,546		93,308		92,124		77,363		77,241
Average diluted shares (thousands)		93,546		93,308		92,124		77,363		77,241
Note:  Taxable equivalent net interest income		33,637		34,220		34,390		34,183		32,924

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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(dollars in thousands)

(Unaudited)

	3/31/2012			12/31/2011			9/30/2011			6/30/2011			3/31/2011
ASSETS:
Cash and due from banks	$	39,426			44,395			40,875			41,229			37,022
Federal funds sold and other short term investments		486,055			488,548			434,950			479,647			353,566
Total cash and cash equivalents		525,481			532,943			475,825			520,876			390,588
Securities available for sale:
U. S. government sponsored enterprises		744,725			563,460			633,812			676,062			753,546
States and political subdivisions		38,367			43,968			51,289			57,670			70,393
Mortgage-backed securities and collateralized mortgage obligations-residential		219,301			204,022			200,516			66,333			67,334
Corporate bonds		81,654			96,608			97,464			103,194			116,561
Other securities		9,664			9,664			7,521			7,522			7,632
Total securities available for sale		1,093,711			917,722			990,602			910,781			1,015,466
Held to maturity securities:
U. S. government sponsored enterprises		-			15,000			25,000			-			-
Mortgage-backed securities and collateralized mortgage obligations-residential		143,629			141,857			109,603			105,509			112,315
Corporate bonds		35,312			59,431			59,555			49,019			59,036
Total held to maturity securities		178,941			216,288			194,158			154,528			171,351
Loans:
Commercial		235,513			248,163			244,389			249,124			250,851
Residential mortgage loans		1,970,278			1,955,951			1,925,144			1,876,699			1,813,611
Home equity line of credit		314,668			313,038			305,587			298,314			290,829
Installment loans		3,855			4,151			3,829			3,837			3,838
Loans, net of deferred fees and costs		2,524,314			2,521,303			2,478,949			2,427,974			2,359,129
Less:
Allowance for loan losses		48,535			48,717			47,782			45,561			43,680
Net loans		2,475,779			2,472,586			2,431,167			2,382,413			2,315,449
Bank premises and equipment, net		37,099			37,006			35,946			36,032			36,275
Other assets		63,432			67,099			65,261			65,696			78,761
Total assets	$	4,374,443			4,243,644			4,192,959			4,070,326			4,007,890
LIABILITIES:
Deposits:
Demand	$	281,628			267,776			269,958			259,459			247,803
Interest-bearing checking		507,510			489,227			472,908			461,976			443,133
Savings accounts		1,068,058			978,819			923,893			891,181			859,799
Money market deposit accounts		631,761			635,434			642,054			638,774			626,669
Certificates of deposit (in denominations of $100,000 or more)		467,447			460,971			461,081			453,303			455,563
Other time accounts		894,946			903,746			910,633			947,838			960,074
Total deposits		3,851,350			3,735,973			3,680,527			3,652,531			3,593,041
Short-term borrowings		159,002			147,563			143,081			128,807			137,710
Due to broker		-			-			10,000			-			-
Accrued expenses and other liabilities		19,445			21,592			21,541			20,039			18,667
Total liabilities		4,029,797			3,905,128			3,855,149			3,801,377			3,749,418
SHAREHOLDERS' EQUITY:
Capital stock		98,912			98,912			98,806			83,166			83,166
Surplus		176,199			176,638			177,448			126,196			126,638
Undivided profits		122,235			119,465			116,894			113,782			111,093
Accumulated other comprehensive income (loss), net of tax		53			(2,493	)		258			2,846			(4,176	)
Treasury stock at cost		(52,753	)		(54,006	)		(55,596	)		(57,041	)		(58,249	)
Total shareholders' equity		344,646			338,516			337,810			268,949			258,472
Total liabilities and shareholders' equity	$	4,374,443			4,243,644			4,192,959			4,070,326			4,007,890
Outstanding shares (thousands)		93,549			93,315			93,154			77,367			77,244

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NONPERFORMING ASSETS

(dollars in thousands)

(Unaudited)

Nonperforming Assets

	03/31/12		12/31/11		09/30/11		06/30/11		03/31/11
New York and other states*
Loans in nonaccrual status:
Commercial	$	5,667		4,981		5,086		5,090		5,697
Real estate mortgage - 1 to 4 family		29,894		27,820		25,932		24,148		22,712
Installment		9		3		4		13		13
Total non-accrual loans		35,570		32,804		31,022		29,251		28,422
Other nonperforming real estate mortgages - 1 to 4 family		306		312		317		324		330
Total nonperforming loans		35,876		33,116		31,339		29,575		28,752
Other real estate owned		2,411		2,382		2,372		725		1,481
Total nonperforming assets	$	38,287		35,498		33,711		30,300		30,233
Florida
Loans in nonaccrual status:
Commercial	$	5,874		5,000		5,400		7,186		7,786
Real estate mortgage - 1 to 4 family		9,404		10,662		10,231		12,770		13,860
Installment		-		-		-		-		-
Total non-accrual loans		15,278		15,662		15,631		19,956		21,646
Other nonperforming real estate mortgages - 1 to 4 family		-		-		-		-		-
Total nonperforming loans		15,278		15,662		15,631		19,956		21,646
Other real estate owned		1,293		2,883		3,739		4,119		5,219
Total nonperforming assets	$	16,571		18,545		19,370		24,075		26,865
Total
Loans in nonaccrual status:
Commercial	$	11,541		9,981		10,486		12,276		13,483
Real estate mortgage - 1 to 4 family		39,298		38,482		36,163		36,918		36,572
Installment		9		3		4		13		13
Total non-accrual loans		50,848		48,466		46,653		49,207		50,068
Other nonperforming real estate mortgages - 1 to 4 family		306		312		317		324		330
Total nonperforming loans		51,154		48,778		46,970		49,531		50,398
Other real estate owned		3,704		5,265		6,111		4,844		6,700
Total nonperforming assets	$	54,858		54,043		53,081		54,375		57,098

Quarterly Net Chargeoffs

	03/31/12			12/31/11			09/30/11			06/30/11			03/31/11
New York and other states*
Commercial	$	321			99			(3	)		(32	)		50
Real estate mortgage - 1 to 4 family		1,136			1,404			858			679			899
Installment		(8	)		5			17			8			9
Total net chargeoffs	$	1,449			1,508			872			655			958
Florida
Commercial	$	160			400			-			599			(3	)
Real estate mortgage - 1 to 4 family		1,673			1,359			2,006			1,715			1,876
Installment		-			(2	)		1			-			-
Total net chargeoffs	$	1,833			1,757			2,007			2,314			1,873
Total
Commercial	$	481			499			(3	)		567			47
Real estate mortgage - 1 to 4 family		2,809			2,763			2,864			2,394			2,775
Installment		(8	)		3			18			8			9
Total net chargeoffs	$	3,282			3,265			2,879			2,969			2,831

Asset Quality Ratios

	03/31/12			12/31/11			09/30/11			06/30/11			03/31/11
Total nonperforming loans(1)	$	51,154			48,778			46,970			49,531			50,398
Total nonperforming assets(1)		54,858			54,043			53,081			54,375			57,098
Total net chargeoffs(2)		3,282			3,265			2,879			2,969			2,831
Allowance for loan losses(1)		48,535			48,717			47,782			45,561			43,680
Nonperforming loans to total loans(1)		2.03	%		1.93	%		1.89	%		2.04	%		2.14	%
Nonperforming assets to total assets(1)		1.25	%		1.27	%		1.27	%		1.34	%		1.42	%
Allowance for loan losses to total loans(1)		1.92	%		1.93	%		1.93	%		1.88	%		1.85	%
Coverage ratio(1)		94.9	%		99.9	%		101.7	%		92.0	%		86.7	%
Annualized net chargeoffs to average loans(2)		0.52	%		0.52	%		0.47	%		0.50	%		0.48	%
Allowance for loan losses to annualized net chargeoffs(2)		3.7	x		3.7	x		4.1	x		3.8	x		3.9	x

* Includes New York, New Jersey, Vermont and Massachusetts.

(1)  At period-end

(2)  For the period ended

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DISTRIBUTION OF ASSETS, LIABILITIES AND SHAREHOLDERS' EQUITY-

INTEREST RATES AND INTEREST DIFFERENTIAL

(dollars in thousands)	Three months ended									Three months ended
(Unaudited)	March 31, 2012									March 31, 2011
	Average			Interest			Average			Average			Interest			Average
	Balance						Rate			Balance						Rate
Assets
Securities available for sale:
U. S. government sponsored enterprises	$	590,746			2,304			1.56	%	$	669,915			3,199			1.91	%
Mortgage backed securities and collateralized mortgage obligations-residential		204,659			1,093			2.14			69,787			608			3.49
State and political subdivisions		40,013			603			6.02			73,331			1,159			6.32
Corporate bonds		93,168			822			3.53			116,756			1,139			3.90
Other		9,664			95			3.96			7,724			61			3.17
Total securities available for sale		938,250			4,917			2.10			937,513			6,166			2.63
Federal funds sold and other short-term Investments		512,380			320			0.25			399,184			246			0.25
Held to maturity securities:
U. S. government sponsored enterprises		4,286			25			2.38			-			-			0.00
Corporate bonds		52,897			509			3.85			62,267			715			4.59
Mortgage backed securities and collateralized mortgage obligations-residential		143,146			1,290			3.60			117,467			1,188			4.05
Total held to maturity securities		200,329			1,824			3.64			179,734			1,903			4.23
Commercial loans		241,269			3,363			5.57			253,465			3,677			5.80
Residential mortgage loans		1,962,648			26,112			5.33			1,803,268			25,189			5.59
Home equity lines of credit		314,999			2,865			3.66			290,666			2,666			3.72
Installment loans		3,615			145			15.16			3,895			152			15.84
Loans, net of unearned income		2,522,531			32,485			5.16			2,351,294			31,684			5.40
Total interest earning assets		4,173,490			39,546			3.79			3,867,725			39,999			4.14
Allowance for loan losses		(49,840	)								(43,564	)
Cash & non-interest earning assets		143,702									144,341
Total assets	$	4,267,352								$	3,968,502
Liabilities and shareholders' equity
Deposits:
Interest bearing checking accounts	$	482,362			78			0.06	%	$	431,592			65			0.06	%
Money market accounts		631,892			923			0.59			616,838			1,227			0.81
Savings		1,019,597			1,102			0.43			816,581			933			0.46
Time deposits		1,365,104			3,418			1.01			1,452,592			4,443			1.24
Total interest bearing deposits		3,498,955			5,521			0.63			3,317,603			6,668			0.82
Short-term borrowings		145,484			388			1.07			129,966			407			1.27
Total interest bearing liabilities		3,644,439			5,909			0.65			3,447,569			7,075			0.83
Demand deposits		261,650									245,418
Other liabilities		18,230									17,551
Shareholders' equity		343,033									257,964
Total liabilities and shareholders' equity	$	4,267,352								$	3,968,502
Net interest income , tax equivalent					33,637									32,924
Net interest spread								3.14	%								3.31	%
Net interest margin (net interest income to total interest earning assets)								3.23	%								3.40	%
Tax equivalent adjustment					(253	)								(382	)
Net interest income					33,384									32,542

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Non-GAAP Financial Measures Reconciliation

Tangible book value per share and tangible equity as a percentage of tangible assets at period end are non-GAAP financial measures derived from GAAP-based amounts. We calculate tangible equity and tangible assets by excluding the balance of intangible assets from shareholders’ equity and total assets, respectively. We calculate tangible book value per share by dividing tangible equity by common shares outstanding, as compared to book value per common share, which we calculate by dividing shareholders’ equity by common shares outstanding. We calculate tangible equity as a percentage of tangible assets at period end by dividing tangible equity by tangible assets at period end. We believe that this is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios.

The efficiency ratio is a non-GAAP measure of expense control relative to recurring revenue.  We calculate the efficiency ratio by dividing total noninterest expenses as determined under GAAP, but excluding other real estate expense, net, which we refer to below as recurring expense, by net interest income (fully taxable equivalent) and total noninterest income as determined under GAAP, but excluding net gains on securities from this calculation, which we refer to below as recurring revenue.  We believe that this provides one reasonable measure of core expenses relative to core revenue.

We believe that these non-GAAP financial measures provide information that is important to investors and that is useful in understanding our financial position, results and ratios. However, these non-GAAP financial measures are supplemental and are not a substitute for an analysis based on GAAP measures. As other companies may use different calculations for these measures, this presentation may not be comparable to other similarly titled measures reported by other companies. A reconciliation of the non-GAAP measures of tangible common equity, tangible book value per share and efficiency ratio to the underlying GAAP numbers is set forth below.

	03/31/12			12/31/11			09/30/11			06/30/11			03/31/11
Tangible Book Value Per Share
Equity	$	344,646		$	338,516		$	337,810			268,949			258,472
Less: Intangible assets		553			553			553			553			553
Tangible equity		344,093			337,963			337,257			268,396			257,919
Shares outstanding		93,549			93,315			93,154			77,367			77,244
Tangible book value per share		3.68			3.62			3.62			3.47			3.34
Book value per share		3.68			3.63			3.63			3.48			3.35
Tangible Equity to Tangible Assets
Total Assets		4,374,443			4,243,644			4,192,959			4,070,326			4,007,890
Less: Intangible assets		553			553			553			553			553
Tangible assets		4,373,890			4,243,091			4,192,406			4,069,773			4,007,337
Tangible Equity to Tangible Assets		7.87	%		7.97	%		8.04	%		6.59	%		6.44	%
Equity to Assets		7.88	%		7.98	%		8.06	%		6.61	%		6.45	%

	3 Months Ended															Years Ended
Efficiency Ratio	03/31/12			12/31/11			09/30/11			06/30/11			03/31/11			12/31/11			12/31/10
Net interest income (fully taxable equivalent)	$	33,637			34,220			34,390			34,183			32,924			135,717			128,963
Non-interest income		4,518			3,736			3,803			4,571			4,271			16,381			18,951
Less:  Net gain on securities		677			132			158			851			287			1,428			3,352
Recurring revenue		37,478			37,824			38,035			37,903			36,908			150,670			144,562
Total Noninterest expense		20,644			18,909			18,443			21,552			20,846			79,750			78,964
Less:  Other real estate expense, net		966			1,254			754			2,095			1,590			5,693			5,565
Recurring expense		19,678			17,655			17,689			19,457			19,256			74,057			73,399
Efficiency Ratio		52.51	%		46.68	%		46.51	%		51.33	%		52.18	%		49.15	%		50.77	%

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