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Tompkins Financial Corporation (symbol: TMP) is a New York State-based financial services holding company with over $5 billion in assets. The company operates through three main business segments: community banking, insurance, and wealth management. Founded over 175 years ago, Tompkins has been dedicated to helping clients achieve their financial goals by providing high-quality financial products and exceptional service.
Community Banking: Tompkins Financial Corporation is the parent company of four community banks: Tompkins Trust Company, Tompkins Bank of Castile, Tompkins Mahopac Bank, and Tompkins VIST Bank. Together, these banks operate 67 branches and offer a wide range of commercial and consumer banking services, including deposit products, loans, leasing, and more. The company reinvests deposits as loans to local families and businesses, supporting the communities where it operates.
Insurance: Through its insurance segment, Tompkins offers property and casualty insurance services, as well as employee benefit consulting. This segment provides clients with comprehensive insurance solutions tailored to meet their individual and business needs, ensuring they are well-protected against risks.
Wealth Management: Tompkins' wealth management segment includes trust and investment management, financial planning, and wealth management services. The company focuses on creating long-term value for clients by offering personalized financial strategies and investment solutions that align with their specific goals.
Committed to responsible growth and strong return on equity, Tompkins Financial Corporation has been recognized as one of the nation's best-performing financial companies by independent analysts. The company's strategy emphasizes sustainable growth, community involvement, and shareholder value creation. Tompkins continues to play a crucial role in supporting local organizations and contributing to the economic well-being of the communities it serves.
Tompkins Financial Corporation (NYSE American: TMP) announced a quarterly cash dividend of $0.60 per share, set to be paid on November 15, 2022, to shareholders on record as of November 8, 2022. This marks a 5.3% increase from the previous quarter's dividend of $0.57 per share. The company operates within the banking and financial services sector, serving various regions in New York and Pennsylvania.
Tompkins Financial Corporation (TMP) reported a diluted EPS of $1.48 for Q3 2022, a slight increase from $1.45 in Q3 2021. Net income remained stable at $21.3 million, while year-to-date EPS decreased by 4% to $4.53, with a net income of $65.5 million, down 6.2% from 2021. The variance is primarily due to a provision for credit losses of $1.4 million in 2022, compared to a credit of $6.1 million in 2021. Total loans grew at an annualized rate of 3.8%, with total deposits at $6.9 billion, up 2.5% from the prior quarter.
Tompkins Financial Corporation (NYSE American: TMP) reported diluted earnings per share of $1.45 for Q2 2022, an 8.6% decline in net income to $20.9 million compared to Q2 2021. The decrease is largely attributed to a variance in provision for credit losses. Year-to-date EPS was $3.05, down 6.4% from the previous year. However, total revenue rose by 4.8% year-on-year, driven by an improved net interest margin of 3.09%. Total loans increased by $99.1 million, and nonperforming asset levels declined. Capital ratios remain above regulatory minimums.
Tompkins Financial Corporation (NYSE American: TMP) has announced a regular quarterly cash dividend of $0.57 per share. This dividend is scheduled for payment on August 12, 2022 to shareholders of record as of August 2, 2022. The dividend reflects the company’s ongoing commitment to returning value to its shareholders while continuing to serve the Central, Western, and Hudson Valley regions of New York and Southeastern Pennsylvania.
Tompkins Financial Corporation (NYSE American:TMP) has declared a quarterly cash dividend of
Tompkins Financial Corporation (NYSE: TMP) reported a diluted EPS of $1.60 for Q1 2022, a 7.0% decrease from $1.72 in Q1 2021. Net income fell 9.2% to $23.3 million, impacted by reduced income from PPP loans. Total loans slightly decreased to $5.1 billion, with nonperforming loans dropping to $30.3 million, or 0.60% of total loans. However, total deposits increased by 3.3% to $7.0 billion. The net interest margin improved to 3.04%, and net interest income rose to $56.6 million. The effective tax rate increased to 23.1% due to anticipated loss of New York State tax benefits.
Tompkins Financial Corporation (NYSE American:TMP) has declared a quarterly cash dividend of
Tompkins Financial Corporation (TMP) reported record diluted earnings per share of $6.05 for the year ended December 31, 2021, marking a 16.4% increase from 2020. Net income rose to $89.3 million, up $11.7 million year-over-year. However, Q4 diluted EPS dropped 17.4% to $1.33, with net income decreasing $4.5 million to $19.5 million, largely due to a higher provision for credit losses. Total loans declined to $5.1 billion, influenced by a fall in PPP loans. Nonperforming loans improved, dropping to 0.61% of total loans.
The Board of Directors of Tompkins VIST Bank has announced the retirement of Scott L. Gruber, who served as president and CEO for nearly nine years. Ginger G. Kunkel will succeed Gruber, currently serving as COO, ensuring a smooth transition. Gruber's leadership strengthened the bank and enhanced shareholder value. Additionally, Gary Moyer, the chief lending officer, will retire in 2022, with James Whitton taking over. Tompkins Financial Corporation, the bank's parent company, operates in the Central and Western New York and Southeastern Pennsylvania regions, providing diverse financial services.
Tompkins Financial Corporation (NYSE American: TMP) has declared a quarterly cash dividend of $0.57 per share, to be paid on November 15, 2021, for shareholders of record on November 2, 2021. This marks a 5.6% increase compared to the previous quarter's dividend. The company, headquartered in Ithaca, NY, serves the Central, Western, and Hudson Valley regions of New York and Southeastern Pennsylvania. Additionally, Tompkins Financial is merging its banking subsidiaries into a single entity named Tompkins Community Bank.
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