Condensed Parent Company Only Financial Statements

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Parent Company Only Financial Statements

Condensed financial statements for Tompkins (the Parent Company) as of December 31,2019, 2018 and 2017 are presented below.



Condensed Statements of Condition
(In thousands)	2019		2018
Assets
Cash	$	14,631	$	6,235
Investment in subsidiaries, at equity	664,775		625,193
Other	3,873		9,416
Total Assets	$	683,279	$	640,844
Liabilities and Shareholders’ Equity
Borrowings	4,000		4,000
Trust preferred debentures issued to non-consolidated subsidiary	17,035		16,863
Other liabilities	602		522
Tompkins Financial Corporation Shareholders’ Equity	661,642		619,459
Total Liabilities and Shareholders’ Equity	$	683,279	$	640,844



Condensed Statements of Income
(In thousands)	2019		2018		2017
Dividends received from subsidiaries	$	72,827	$	44,518	$	33,522
Other income	240		332		281
Total Operating Income	$	73,067	$	44,850	$	33,803
Interest expense	1,450		1,468		1,550
Other expenses	8,409		7,222		6,120
Total Operating Expenses	$	9,859	$	8,690	$	7,670
Income Before Taxes and Equity in Undistributed
Earnings of Subsidiaries	63,208		36,160		26,133
Income tax benefit	2,085		1,687		1,867
Equity in undistributed earnings of subsidiaries	16,425		44,461		24,494
Net Income	$	81,718	$	82,308	$	52,494



Condensed Statements of Cash Flows
(In thousands)	2019			2018			2017
Operating activities
Net income	$	81,718		$	82,308		$	52,494
Adjustments to reconcile net income to net cash provided by operating activities
Equity in undistributed earnings of subsidiaries	(16,425		)	(44,461		)	(24,494		)
Other, net	3,209			1,014			(1,569		)
Net Cash Provided by Operating Activities	68,502			38,861			26,431
Investing activities
Other, net	3,265			0			1,052
Net Cash Provided by Investing Activities	3,265			0			1,052
Financing activities

Borrowings, net	0			(5,000		)	(28,161		)
Cash dividends	(30,637		)	(29,634		)	(27,627		)
Repurchase of common shares	(29,867		)	(2,448		)	0
Net proceeds from restricted stock awards	(1,875		)	(1,403		)	(1,294		)
Shares issued for dividend reinvestment plans	0			0			2,872
Shares issued for employee stock ownership plan	0			3,073			2,296
Net proceeds from exercise of stock options	(992		)	(540		)	(641		)
Net Cash Used in Financing Activities	(63,371		)	(35,952		)	(52,555		)
Net increase (decrease) in cash	8,396			2,909			(25,072		)
Cash at beginning of year	6,235			3,326			28,398
Cash at End of Year	$	14,631		$	6,235		$	3,326

A Statement of Changes in Shareholders’ Equity has not been presented since it is the same as the Consolidated Statement of Changes in Shareholders’ Equity previously presented.