How do people evaluate various sources of information to make trust judgments? Specifically, how do people weight the different signals that are presented to them in a cooperative context? Although previous research has investigated the impact of perceived facial trustworthiness and reputation on cooperative behavior, there remains a gap in understanding how reputation is dynamically formed and evolves to influence decisions of trust. In this study (N = 1,778), we explored people’s tendency in partner selection and the amount of investment for the chosen partner in a trust game. We explored the influence of the biases in facial trustworthiness on the emergence of reputation (e.g. other’s preferences) and its development. Notably, our experiment allowed us to examine these signals in real-time as the reputation information was updated after each decision was made. We also manipulated the salience of reputation with one group viewing faces in descending order of their reputation numbers (the actual choices of prior participants), while another group observing faces presented in a randomized order. We found that when people are presented with male faces, but not with female faces, partner selection is affected by the type of information. In addition, the information type did not affect the investment amount on partners. These findings offer new insights into the dynamic nature of trust judgments in the context of cooperation, and it emphasizes the need for closer examination of the interaction of different informational signals in decision-making.