Tompkins Financial (NYSE: TMP) posts record 2025 earnings and strong Q1 2026
Rhea-AI Filing Summary
Tompkins Financial Corporation reports record 2025 results and a strong start to 2026. For 2025, GAAP net income was $161.1 million with diluted EPS of $11.24, while Operating (non-GAAP) net income was $90.4 million and EPS $6.31, reflecting the impact of a TIA sale and a securities repositioning.
Fourth quarter 2025 GAAP EPS was $6.70 and Operating EPS $1.78, with 2025 diluted EPS up 127% and Operating EPS up 27% versus 2024. In Q1 2026, diluted EPS reached $1.82, up 32.8% from the prior-year quarter, as net interest margin expanded and loans grew 6.8% year over year.
The company highlights long-term profitability, a Tier 1 capital ratio of 10.58%, core deposits at 90.8% of total deposits, a loan-to-deposit ratio of 91.8%, and a 10-year annual cash dividend growth rate of 3.7%, with dividends raised 8.1% in Q1 2026 versus Q1 2025.
Positive
- Record profitability and strong EPS growth: 2025 diluted EPS rose 127% and Operating (non-GAAP) EPS 27% versus 2024, with Q1 2026 diluted EPS up 32.8% year over year.
- Robust capital and funding profile: Tier 1 capital ratio of 10.58%, total capital $278 million above regulatory minimums, core deposits at 90.8% of deposits, and a loan-to-deposit ratio of 91.8%.
- Shareholder return and dividend growth: 10-year cash dividend CAGR of 3.7%, an 8.1% dividend increase in Q1 2026 versus Q1 2025, and a 45.6% total return over the last 12 months versus a 23.5% proxy peer median.
Negative
- None.
Insights
Tompkins shows record earnings, solid capital, and improving profitability trends.
Tompkins Financial presents 2025 as a record year, with GAAP net income of $161.1 million and Operating (non-GAAP) net income of $90.4 million. Diluted EPS rose 127% and Operating EPS 27% versus 2024, helped by the TIA sale and securities repositioning.
Q1 2026 diluted EPS of $1.82 is up 32.8% year over year, supported by a 59-basis-point net interest margin expansion, 6.8% loan growth, and 5.2% average deposit growth. Capital remains robust, with a Tier 1 capital ratio of 10.58% and total capital $278 million above regulatory minimums.
Dividend and stock metrics underscore shareholder returns: a 10-year cash dividend CAGR of 3.7%, an 8.1% dividend increase in Q1 2026 versus Q1 2025, and a 45.6% total return over the last 12 months compared with a 23.5% proxy peer median. Subsequent disclosures in regular filings will show whether these profitability and growth trends are sustained.
8-K Event Classification
Key Figures
Key Terms
Operating (Non-GAAP) financial
Tier 1 Capital Ratio financial
Loan to Deposit ratio financial
Net Interest Margin financial
Total capital ratio financial
forward - looking statements regulatory
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
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Item 7.01 Regulation FD Disclosure.
Tompkins Financial Corporation (the "Company") is furnishing the materials presented at the Company’s Annual Meeting of Shareholders on May 19, 2026 as Exhibit 99.1 to this report, which are incorporated herein by reference.
The information furnished in this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended. This report will not be deemed an admission as to the materiality of any information herein (including Exhibit 99.1).
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits. |
EXHIBIT INDEX
| Exhibit No. | Description | |
| 99.1 | Tompkins Financial Corporation 2026 Annual Meeting Presentation dated May 19, 2026 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TOMPKINS FINANCIAL CORPORATION | |
| Date: May 19, 2026 | /s/ Stephen S. Romaine |
| Stephen S. Romaine | |
| President and CEO |
Tompkins Financial Corporation 8-K
Exhibit 99.1
Annual Shareholder Meeting May 19, 2026
This presentation contains "forward - looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward - looking statements are made based on management’s expectations and beliefs concerning future events impacting the Company and are subject to certain risks and uncertainties that could cause actual results of the Company to differ materially from those expressed and/or implied by forward - looking statements and historical performance. Forward - looking statements may be identified by use of such words as "may", "will", "estimate", "intend", "continue", "believe", "expect", "plan", or "anticipate", and other similar words. Some of the factors that are among those that could cause actual results to differ materially from the forward - looking statements are those described in our Quarterly Report on Form 10 - Q and Annual Report on Form 10 - K as filed with the Securities and Exchange Commission. The Company does not undertake any obligation to update the forward - looking statements. Forward - Looking Information − Safe Harbor
Tompkins Financial Strength • Long - standing commitment to sustainable performance • Profitable every year since at least 1942 • Remain well capitalized • Diversified and growing revenue streams • Disciplined credit culture, 10 - year average net charge offs below 0.04% • Strong core deposit base, core deposits represent 90.8%* of deposits • Liquidity improvement with the ratio of wholesale funding as a percentage of total assets at 6.4% in Q1 2026 vs. 9.8% in 2019 * Source: UBPR as of March 31, 2026
2025 – Record Results and Positioned for the Future 4 th Quarter Net Income EPS GAAP $96.2 $6.70 TIA Sale^ $(129.3) $(9.01) Securities Reposition $58.6 $4.09 Operating (Non - GAAP) $25.6 $1.78 Full Year 2025 Net Income EPS GAAP $161.1 $11.24 TIA Sale^ $(129.3) $(9.02) Securities Reposition $58.6 $4.09 Operating (Non - GAAP) $90.4 $6.31 4 th Quarter EPS up 389% and 30%* vs Prior Year 2025 EPS up 127% and 27%* vs Prior Year ^TIA sale included $188.2 million of revenue, $4.3 million of expense, and $54.6 million taxes *Represents the growth in Operating (non - GAAP) EPS
2025 Recap – Higher Revenue • Growth in net interest income » Expanding net interest margin up 38 bps from 2024 » Increasing levels of loan growth (+7.1%) » Managed deposit costs, improving deposit growth • Higher levels of provision supporting loan growth • Noninterest income » Increased $108.7 million or 123% driven by sale of TIA net of securities reposition • Noninterest expense » Noninterest expense up $10.6 million or 5.3% » Includes $4.3 million of transaction related expenses from the sale of TIA » Growth in expenses attributed to salaries and wages Diluted EPS up 126%, Operating EPS (Non - GAAP) up 27% vs 2024
Annual Earnings Trends 10 Year Compound Annual Growth Rate of 11.3% and 5.0%* $6.00 $8.00 $12.00 $10.00 Diluted EPS $4.00 $2.00 $0.00 2015Y 2016Y 2017Y 2018Y 2019Y 2020Y 2021Y 2022Y 2023Y 2024Y 2025Y Diluted EPS (GAAP) Non - GAAP Operating EPS (previously disclosed) *Represents the growth from 2015’s Diluted EPS of $3.87 to 2026’s Operating (Non - GAAP) EPS of $6.31
EPS $1.82, up 33% vs. prior year quarter • Continued net interest margin expansion, up 59 bps as compared to a year ago • Loan Growth 6.8% YOY • Deposit growth improving while deposit rates moderating, average deposit balances up 5.2% vs a year ago Highlights From Our Record First Quarter • Liquidity remains strong; Loan to Deposit ratio 91.8% • Tier 1 Capital Ratio of 10.58% is up 14% vs. prior year • Book Value of $65.78 up 28% vs. prior year
1.10 1.30 1.37 1.37 1.50 1.65 6.70 1.82 1.78 $8.00 $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0.00 Q1 2026 Diluted EPS Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Diluted EPS (GAAP) Non - GAAP Operating EPS (previously disclosed) ▪ Q4 2025 reflects TIA sale and securities reposition ▪ Q1 2026 Diluted EPS is up 32.8% vs prior year quarter Quarterly Earnings Trends
16% 14% 12% 10% 8% 6% 4% 2% 0% 2018Y 2020Y 2021Y 2022Y 2023Y 2024Y 2025Y Q1 2026 Consistently Well Capitalized 16% 14% 12% 10% 8% 6% 4% 2% 0% 2019Y 2020Y 2021Y 2022Y 2023Y 2024 Y 2025 Y Q1 2026 Total Capital Ratio Tier 1 Ratio • Total capital ratio reflects capital that is $278 million above regulatory minimums • Well capitalized on a historically lower risk balance sheet Well Capitalized threshold Well Capitalized threshold
0% 5% 10% 15% 20% 25% TMP Peer (2) Profitability 0.00% 1.00% 2.00% 3.00% 4.00% TMP Peer (2) (1) Source: S&P Global (2) Peer represents “Benchmarking Peer Group” as listed in Tompkins 2026 Proxy ROAA (1) ROAE (1) 0.00% 0.50% 1.00% 1.50% 2.00% TMP Peer (2) Net Interest Margin (1) • 2023 results include balance sheet repositioning, which resulted in an after - tax loss of $52.9 million ** 2025 results include TIA sale and securities reposition, which resulted in an after - tax gain of $129.3 million, and an after - tax loss of $58.6 million, respectively ***Quarterly results annualized
Annual Cash Dividend Trends $0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 2016Y 2017Y 2018Y 2019Y 2020Y 2021Y 2022Y 2023Y 2024Y 2025Y Cash Dividend Per Share TMP Cash Dividend: 10 Year Compound Annual Growth Rate of 3.7% Q1 2026 raised dividend 8.1% vs. Q1 2025 payable in Q2 2025
Stock Performance Total Return LTM 5YR 10YR TMP 45.6% 5.1% 5.7% Proxy Peer Median 23.5% 6.1% 9.0% Stock Valuation P/LTM EPS* *P/TBV Dividend Yield TMP 14.5x^ 1.41x 3.1% Proxy Peer Median 12.2x 1.53x 3.0% As of April 28, 2026 Stock Valuation P/LTM EPS* *P/TBV Dividend Yield TMP 11.7x^ 1.32x 4.2% Proxy Peer Median 12.5x 1.25x 3.4% As of April 28, 2025 “Last Year” Positive total returns over the last 12 months Total return favorably impacted by improving earnings and multiple expansion vs. prior year * Source: S&P Global ^Represents price to LTM core earnings
Commitment to Sustainable Performance • Profitable for at least 84 consecutive years • Cash dividends increased for 37 consecutive years • Cash dividends paid for 146 consecutive years • Culture of sustainably generating top quartile return on equity • Valuable core deposit franchise • Strong historical credit quality • Strengthening loan growth • Disciplined expense management • Well - positioned for growth with adequate Capital and Liquidity
