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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 (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.