Tompkins Financl - TMP STOCK NEWS

Tompkins Financial (TMP) reported strong Q1 2025 financial results with diluted earnings per share of $1.37, up 16.1% from Q1 2024. Net income reached $19.7 million, a 16.6% increase year-over-year, driven by higher net interest income and fee-based revenues.

Key highlights include: net interest margin improvement to 2.98% from 2.73% in Q1 2024; total loans up 7.6% year-over-year to $6.1 billion; and deposits increased 4.7% to $6.8 billion. The company's provision for credit losses was $5.3 million, significantly higher than $854,000 in Q1 2024, mainly due to specific reserves on commercial real estate credits.

Noninterest income grew 13.1% to $25.0 million, including a $1.9 million gain from real estate sale. The company maintains strong capital ratios with Tier 1 capital to average assets at 9.31%.

Tompkins Community Bank has partnered with Spiral, an award-winning personalized banking platform, to enhance customer engagement and deposit growth through new digital banking features. The partnership introduces two key innovations:

1. A Roundup Center that allows customers to automatically round up everyday purchases for savings and charitable donations

2. A Giving Center enabling customers to create personalized charitable portfolios, track their impact, and receive donation reports for tax purposes

The integration aims to simplify customer savings while facilitating community support through direct digital donations to local nonprofits. Tompkins will leverage this partnership to expand its nonprofit offerings and attract more nonprofit businesses through fundraising campaigns, donation matching, and community events.

Tompkins Financial (NYSE American: TMP) has declared a regular quarterly cash dividend of $0.62 per share. The dividend will be paid on February 21, 2025, to shareholders of record as of February 14, 2025.

Tompkins Financial serves the Central, Western, and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. The company operates through its subsidiaries: Tompkins Community Bank, Tompkins Insurance Agencies, and offers wealth management services via Tompkins Financial Advisors.

Tompkins Financial (TMP) reported strong financial results for Q4 2024, with diluted earnings per share of $1.37, up 5.4% from Q3 2024 and 30.5% from Q4 2023. Net income for Q4 2024 was $19.7 million, showing increases of 5.5% quarterly and 31.0% yearly.

For the full year 2024, the company achieved diluted EPS of $4.97, with net income of $70.9 million, marking a significant improvement from 2023, which included a $52.9 million after-tax loss from securities sales. The improved performance was driven by increased net interest income, fee-based business growth, and lower operating expenses.

Key metrics include: net interest margin improvement to 2.93% in Q4, total loans up 7.4% year-over-year to reach $6.5 billion, and a loan-to-deposit ratio of 93.0%. Fee-based services revenue increased by 7.7% compared to Q4 2023, while noninterest expenses decreased by 2.6% year-over-year.

Tompkins Financial (NYSE American:TMP) has announced a quarterly cash dividend increase. The company will pay $0.62 per share on November 15, 2024, to shareholders of record as of November 8, 2024. This represents a 1.6% increase from the third quarter 2024 dividend and a 3.3% increase from the fourth quarter 2023 dividend. Tompkins Financial serves the Central, Western, and Hudson Valley regions of New York and Southeastern Pennsylvania through its subsidiaries Tompkins Community Bank, Tompkins Insurance Agencies, and Tompkins Financial Advisors.

Tompkins Financial (TMP) reported strong Q3 2024 results with diluted earnings per share of $1.30, up 18.2% from Q2 and 155.3% from Q3 2023. Net income reached $18.6 million, marking an 18.9% increase from Q2. The significant year-over-year improvement reflects recovery from a $62.9 million pre-tax loss on securities sale in Q3 2023.

Key highlights include net interest margin expansion to 2.79%, 8.2% annualized loan growth, and total deposits of $6.6 billion. Fee-based services revenue grew 3.2% year-over-year, representing 31% of total revenue. The company maintained strong capital ratios with Tier 1 capital to average assets at 9.19%.

Tompkins Financial (NYSE American: TMP) has announced a regular quarterly cash dividend of $0.61 per share, to be paid on August 16, 2024, to shareholders of record as of August 9, 2024. This decision was approved by the company's Board of Directors. Tompkins Financial is a banking and financial services company operating in the Central, Western, and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. The company's portfolio includes Tompkins Community Bank, Tompkins Insurance Agencies, Inc., and wealth management services through Tompkins Financial Advisors.

Tompkins Financial (NYSE American: TMP) reported Q2 2024 diluted earnings per share of $1.10, down 6.8% from the previous quarter but up 86.4% from Q2 2023. Net income for Q2 2024 was $15.7 million, down 7.1% from the previous quarter but up 85.0% year-over-year. The significant increase compared to Q2 2023 is largely due to a $7.1 million loss on securities transactions in that quarter.

Key highlights include:

• Net interest margin stable at 2.73%
• Total loans up 7.7% year-over-year
• Fee-based services revenues up 5.0% year-over-year
• Total operating expenses down 3.9% year-over-year
• Regulatory Tier 1 capital to average assets at 9.15%

The company's focus on expense management and balance sheet leverage has resulted in stabilizing and growing revenue with lower expenses.