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Tompkins Financial Corporation reports news about a regional banking and financial services company serving Central, Western and Hudson Valley New York and Southeastern Pennsylvania. The company operates through Tompkins Community Bank, which provides commercial and consumer banking, and offers wealth management services under the Tompkins Financial Advisors brand, including investment management, trust and estate, financial planning and tax planning services.
Recurring developments include quarterly earnings, net interest margin trends, loan and deposit activity, regulatory capital measures, cash dividends and bank leadership changes. Company updates also cover capital actions and portfolio changes, including the completed sale of Tompkins Insurance Agencies, Inc.
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 $0.57 per share. This dividend is scheduled for payment on May 16, 2022, to shareholders who are on record by May 10, 2022. The company is prominent in banking and financial services, primarily operating in New York and Pennsylvania. For further information, visit www.tompkinsfinancial.com.
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 $0.57 per share, reflecting a 5.3% increase from the previous year. The payment date is set for February 15, 2022, to shareholders of record by February 8, 2022. This decision indicates the company's confidence in its financial stability and commitment to shareholder returns.
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.