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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.
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.
Tompkins Financial Corporation (NYSE American: TMP) reported diluted earnings per share of $1.45 for Q3 2021, down from $1.63 in Q3 2020. Net income decreased to $21.3 million from $24.2 million YoY, affected by $4.1 million in nonrecurring expenses. Year-to-date EPS increased 31.5% to $4.72. Net interest income rose to $56.1 million from the previous quarter. Noninterest income grew 10.4% YoY. Total loans decreased to $5.1 billion, driven by a decline in PPP loans. The company announced a new stock repurchase program for 400,000 shares.
Tompkins Financial Corporation (NYSE American: TMP) reported diluted earnings per share of $1.54 for Q2 2021, a 6.9% increase from $1.44 in Q2 2020. Net income rose to $22.8 million from $21.4 million year-over-year. For the first half of 2021, EPS increased 65.5% to $3.26, with net income of $48.5 million, up 64.9%. Although the net interest margin narrowed to 2.91%, total deposits grew 7.2% to $6.8 billion. Noninterest income also rose 9.8% to $18.9 million. The company continues to show strong earnings trends despite challenges in the current interest rate environment.
Tompkins Financial Corporation (TMP) has declared a quarterly cash dividend of $0.54 per share, set to be paid on August 13, 2021, to shareholders on record as of August 3, 2021. The company operates multiple financial services across New York and Pennsylvania and is preparing for a significant rebranding. This involves merging its banking subsidiaries into a single entity named Tompkins Community Bank, pending regulatory approval. For further details, visit www.tompkinsfinancial.com.
Tompkins Financial Corporation (TMP) has declared a quarterly cash dividend of $0.54 per share, scheduled for payment on May 17, 2021. Shareholders on record as of May 11, 2021, will be eligible for this dividend. The corporation provides financial services across New York's Central, Western, and Hudson Valley regions, as well as southeastern Pennsylvania. Its subsidiaries include Tompkins Trust Company and Tompkins Bank of Castile, among others.
Tompkins Financial Corporation (TMP) reported record earnings for Q1 2021, with diluted EPS at $1.72, up 224.5% year-over-year. Net income surged to $25.6 million, a 222.4% increase from $7.9 million in Q1 2020. Total loans reached $5.3 billion, marking a 7.2% increase, largely due to the PPP. Deposits rose 28.4% to $6.9 billion. Noninterest income was $20.0 million, up 5.4%. However, net interest margin decreased to 3.01% compared to 3.44% a year prior. The provision for credit losses showed a credit of $2.5 million versus a $16.3 million expense in Q1 2020.
The Board of Directors of Tompkins Mahopac Bank has announced the retirement of Gerald J. Klein, Jr. as president and CEO after 26 years of service. In preparation for this transition, David DeMilia, the current senior vice president, has been appointed as the new president and CEO. Klein, who became CEO in January 2007, will assist with the leadership change during the first half of the year before retiring mid-year.
Tompkins Financial Corporation (NYSE American: TMP) announced a quarterly cash dividend of $0.54 per share, an increase of 3.8% from last year's $0.52. The dividend is set to be paid on February 16, 2021, to shareholders of record on February 9, 2021. This reflects the company's commitment to returning value to its shareholders amidst ongoing operations in the Central, Western, and Hudson Valley regions of New York and Southeastern Pennsylvania.
Tompkins Financial Corporation (TMP) reported a diluted EPS of $1.61 for Q4 2020, marking a 15.0% increase from Q4 2019. Net income reached $24.0 million, a rise of $2.9 million year-over-year. However, for the full year, EPS declined by 3.2% to $5.20, with net income of $77.6 million, down from $81.7 million in 2019, largely impacted by a $16.3 million provision for credit losses due to the COVID-19 pandemic. Total loans were $5.3 billion, up 7.0%, and deposits increased to $6.4 billion, reflecting a 23.5% growth.
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