Welcome to our dedicated page for Tompkins Financl news (Ticker: TMP), a resource for investors and traders seeking the latest updates and insights on Tompkins Financl stock.
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.
Bookmark this page for streamlined access to Tompkins Financial's verified news stream. Combine fundamental analysis with operational updates to make informed decisions about this community-focused financial institution.
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.
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