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Tompkins Financial Corp  (TMP)
Other Ticker:  
 
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial
 
Price: $47.7400 $-0.27 -0.562%
Day's High: $48.62 Week Perf: -3.92 %
Day's Low: $ 47.65 30 Day Perf: -11.33 %
Volume (M): 45 52 Wk High: $ 75.93
Volume (M$): $ 2,153 52 Wk Avg: $56.09
Open: $47.68 52 Wk Low: $46.85



 Market Capitalization (Millions $) 678
 Shares Outstanding (Millions) 14
 Employees 998
 Revenues (TTM) (Millions $) 220
 Net Income (TTM) (Millions $) 14
 Cash Flow (TTM) (Millions $) 37
 Capital Exp. (TTM) (Millions $) 7

Tompkins Financial Corp

Tompkins Financial Corporation is headquartered in Ithaca, New York and is registered as a Financial Holding Company with the Federal Reserve Board under the Bank Holding Company Act of 1956, as amended. The Company is a locally oriented, community-based financial services organization that offers a full array of products and services, including commercial and consumer banking, leasing, trust and investment management, financial planning and wealth management, and insurance. The Company’s subsidiaries included: four wholly-owned banking subsidiaries, Tompkins Trust Company, The Bank of Castile (DBA Tompkins Bank of Castile), Mahopac Bank (formerly known as Mahopac National Bank, DBA Tompkins Mahopac Bank), VIST Bank (DBA Tompkins VIST Bank); and a wholly-owned insurance agency subsidiary, Tompkins Insurance Agencies, Inc. The Trust Company provides a full array of trust and investment services under the Tompkins Financial Advisors brand, including investment management, trust and estate, financial and tax planning as well as life, disability and long-term care insurance services. The Company’s principal offices are located at The Commons, Ithaca, New York, 14851, and its telephone number is (888) 503-5753. The Company’s common stock is traded on the NYSE MKT LLC under the Symbol “TMP.”

The Company’s strategic initiatives include diversification within its markets, growth of its fee-based businesses, and growth internally and through acquisitions of financial institutions, branches, and financial services businesses. As such, the Company from time to time considers acquiring banks, thrift institutions, branch offices of banks or thrift institutions, or other businesses within markets currently served by the Company or in other locations that would complement the Company’s business or its geographic reach. The Company generally targets merger or acquisition partners that are culturally similar and have experienced management and possess either significant market presence or have potential for improved profitability through financial management, economies of scale and expanded services. The Company has pursued acquisition opportunities in the past, and continues to review new opportunities. The Companys most recent material acquisition was its 2012 acquisition of VIST Financial, a financial holding company headquartered in Wyomissing, Pennsylvania, and parent to VIST Bank, VIST Insurance, LLC ("VIST Insurance"), and VIST Capital Management, LLC ("VIST Capital Management").

Although Tompkins is a corporate entity, legally separate and distinct from its affiliates, bank holding companies such as Tompkins are generally required to act as a source of financial strength for their banking subsidiaries. Tompkins’ principal source of income is dividends from its subsidiaries. There are certain regulatory restrictions on the extent to which these subsidiaries can pay dividends or otherwise supply funds to Tompkins. See the section “Supervision and Regulation” for further details.

Banking services consist primarily of attracting deposits from the areas served by the Company’s four banking subsidiaries’ 63 banking offices (44 offices in New York and 19 offices in Pennsylvania), and using those deposits to originate a variety of commercial loans, agricultural loans, consumer loans, real estate loans, and leases in those same areas. The Company’s lending function is managed within the guidelines of a comprehensive Board-approved lending policy. Policies and procedures are reviewed on a regular basis. Reporting systems are in place to provide management with ongoing information related to loan production, loan quality, concentrations of credit, loan delinquencies and nonperforming and potential problem loans. The Company has an independent third party loan review process that reviews and validates the risk identification and assessment made by the lenders and credit personnel. The results of these reviews are presented to the Board of Directors of each of the Company’s banking subsidiaries, and the Company’s Audit Committee.

The Company’s principal expenses are interest on deposits, interest on borrowings, and operating and general administrative expenses, as well as provisions for loan and lease losses. Funding sources, other than deposits, include borrowings, securities sold under agreements to repurchase, and cash flow from lending and investing activities. The Company’s principal sources of income include interest income on loans and securities.

The Company maintains a portfolio of securities such as obligations of U.S. government agencies and U.S. government sponsored entities, obligations of states and political subdivisions thereof, and equity securities. Management typically invests in securities with short to intermediate average lives in order to better match the interest rate sensitivities of its assets and liabilities. Investment decisions are made within policy guidelines established by the Company’s Board of Directors. The investment policy is based on the asset/liability management goals of the Company, and is monitored by the Company’s Asset/Liability Management Committee. The intent of the policy is to establish a portfolio of high quality diversified securities, which optimizes net interest income within safety and liquidity limits deemed acceptable by the Asset/Liability Management Committee.

Tompkins Insurance Agencies Inc. was formed in 2001, resulting from an acquisition. Insurance services include property and casualty insurance, employee benefit consulting, and life, long-term care and disability insurance. Tompkins Insurance is headquartered in Batavia, New York. Over the years, Tompkins Insurance has acquired smaller insurance agencies in the market areas serviced by the Company’s banking subsidiaries and successfully consolidated them into Tompkins Insurance. The VIST Financial acquisition in 2012, which included VIST Insurance, nearly doubled the Company’s annual insurance revenues. Tompkins Insurance offers services to customers of the Company’s banking subsidiaries by sharing offices with The Bank of Castile, Trust Company, and VIST Bank. In addition to these shared offices, Tompkins Insurance has five stand-alone offices in Western New York, two stand-alone offices in Tompkins County, New York and one stand-alone office in Montgomery County, Pennsylvania.

Wealth management services consists of investment management, trust and estate, financial and tax planning as well as life, disability and long-term care insurance services. Wealth management services are under the trade name Tompkins Financial Advisors. Tompkins Financial Advisors has office locations at all four of the Company’s subsidiary banks.



   Company Address: P.O. Box 460 Ithaca 14851 NY
   Company Phone Number: 503-5753   Stock Exchange / Ticker: NYSEAMER TMP
   TMP is expected to report next financial results on February 29, 2024.


Customers Net Income fell by TMP's Customers Net Profit Margin fell to

-5.8 %

17.2 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
BK        0.72% 
CFG   -0.74%    
FCNCA        4.39% 
FITB        1.5% 
MTB        0.39% 
NTRS        2.06% 
• View Complete Report
   



Tompkins Financial Corp

Tompkins Financial Corp Records Disappointing Third Quarter Performance, Experiences Financial Loss



Tompkins Financial Corp, a regional bank, recently released its financial results for the third quarter of 2023, which fell far below expectations. The company reported negative earnings per share (EPS) and a significant decline in revenue compared to the previous year. This article aims to provide an overview of the facts and analyze the implications of these results for the company and its shareholders.
Financial Facts:
1. EPS Slump: Tompkins Financial Corp experienced a considerable decline in EPS for Q3 2023, with a shortfall of $-2.35 per share compared to $1.48 the previous year. Additionally, the EPS fell from $0.59 per share in the previous quarter.
2. Revenue Plunge: The company witnessed a sharp decline in revenue, with a staggering -89.403% decrease to $8.24 million from $77.75 million in the same quarter a year earlier. Sequentially, the revenue tumbled by -86.766% from $62.26 million.
3. Contrast to Sector: The slump in revenue stands in stark contrast to the rest of the Regional Banks sector, which experienced a top-line gain during the same period.

Tompkins Financial Corp

Tompkins Financial Corp Struggles with Significant Decline in Financial Results Despite Regional Bank Sector's Growth

Tompkins Financial Corp, a regional bank, recently released its financial results for the three months ending June 30, 2023. Unfortunately, the company experienced a significant decline in both its top and bottom-line. Year on year, earnings per share (eps) plummeted by -59.31%, while revenue dropped by -18.457%. Comparatively, in the same period last year, revenue stood at $76.35 million, with an eps of $1.45. However, this year, revenue dropped to $62.26 million, and eps fell to $0.59.
While the decline in revenue is concerning for Tompkins Financial Corp, it is worth noting that it is not comparable to the rest of the regional banks sector, which experienced a rise in top-line revenue during the same period. This indicates that there may be specific factors impacting Tompkins Financial Corp, rather than an industry-wide trend.

Tompkins Financial Corp

Tompkins Financial Corp's Revenue Sees Minimal Year-on-Year Decline, Reflecting Resilience in Challenging Financial Climate

Tompkins Financial Corporation, a regional bank with 998 employees, has reported a decrease in its revenue per employee for the trailing twelve months to $304,425. However, the productivity of its employees remained higher than the company average. The financial sector has seen 221 companies with higher revenue per employee than Tompkins Financial. The company's overall ranking has also deteriorated from the fourth quarter of 2022.
Adding to its woes, Tompkins Financial Corporation announced disappointing earnings for the fiscal span ending March 31, 2023. Its earnings per share (EPS) deteriorated by 15.63% to $1.35 from $1.60. Additionally, its revenue decreased by 2.137% to $75.47 million year on year. Despite an increase in revenue from the previous reporting season, its net profit per share decreased from $1.37 per share. Net earnings in the fiscal span ending March 31, 2023 fell by 16.7% from $23.304 million to $19.412 million from the previous year's corresponding period.






 

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