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Tompkins Financial Corp (TMP) delivers essential financial services through its community banking, insurance, and wealth management divisions. This news hub provides investors and stakeholders with centralized access to the company's latest developments and historical announcements.
Track earnings reports, regulatory filings, and strategic initiatives impacting TMP's operations across New York communities. Our curated news collection includes updates on lending programs, insurance product enhancements, and wealth management service expansions.
Key updates cover leadership appointments, community reinvestment projects, and financial performance metrics. Stay informed about TMP's commitment to local economic growth through timely updates on small business lending initiatives and financial literacy programs.
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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.
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.
