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Segment and Related Information (Table)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Schedule of segment and related information

Summarized financial information concerning the Company’s reportable segments and the reconciliation to the Company’s consolidated results is shown in the following table. Investment in subsidiaries is netted out of the presentations below. The “Intercompany” column identifies the intercompany activities of revenues, expenses and other assets between the banking, insurance and wealth management services segments. The Company accounts for intercompany fees and services at an estimated fair value according to regulatory requirements for the services provided. Intercompany items relate primarily to the use of human resources, information systems, accounting and marketing services provided by any of the banks and the holding company. All other accounting policies are the same as those described in the summary of significant accounting policies in the 2019 Annual Report on Form 10-K.

As of and for the three months ended September 30, 2020
(In thousands)			Banking						Insurance						Wealth Management						Intercompany						Consolidated
Interest income			$	64,316					$	1					$	0					$	(1)					$	64,316
Interest expense			6,064						0						0						(1)						6,063
Net interest income			58,252						1						0						0						58,253
Provision for credit loss expense			199						0						0						0						199
Noninterest income			5,976						9,023						4,434						(546)						18,887
Noninterest expense			36,988						6,559						3,348						(546)						46,349
Income before income tax expense			27,041						2,465						1,086						0						30,592
Income tax expense			5,397						670						263						0						6,330
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation			21,644						1,795						823						0						24,262
Less:  Net income attributable to noncontrolling interests			32						0						0						0						32
Net Income attributable to Tompkins Financial Corporation			$	21,612					$	1,795					$	823					$	0					$	24,230
Depreciation and amortization			$	2,474					$	57					$	18					$	0					$	2,549
Assets			7,738,933						42,269						26,956						(13,656)						7,794,502
Goodwill			64,585						19,866						7,996						0						92,447
Other intangibles, net			2,600						2,507						104						0						5,211
Net loans and leases			5,346,004						0						0						0						5,346,004
Deposits			6,613,421						0						0						(12,183)						6,601,238
Total Equity			657,370						32,095						24,146						0						713,611

As of and for the three months ended September 30, 2019
(In thousands)			Banking						Insurance						Wealth Management						Intercompany						Consolidated
Interest income			$	65,775					$	1					$	0					$	(1)					$	65,775
Interest expense			12,620						0						0						(1)						12,619
Net interest income			53,155						1						0						0						53,156
Provision for credit loss expense			1,320						0						0						0						1,320
Noninterest income			7,134						8,620						4,310						(530)						19,534
Noninterest expense			36,309						6,672						3,204						(530)						45,655
Income before income tax expense			22,660						1,949						1,106						0						25,715
Income tax expense			4,669						526						283						0						5,478
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation			17,991						1,423						823						0						20,237
Less:  Net income attributable to noncontrolling interests			31						0						0						0						31
Net Income attributable to Tompkins Financial  Corporation			$	17,960					$	1,423					$	823					$	0					$	20,206
Depreciation and amortization			$	2,483					$	56					$	10					$	0					$	2,549
Assets			6,575,073						42,753						23,497						(13,341)						6,627,982
Goodwill			64,370						19,866						8,211						0						92,447
Other intangibles, net			3,472						3,011						164						0						6,647
Net loans and leases			4,815,702						0						0						0						4,815,702
Deposits			5,382,174						0						0						(12,184)						5,369,990
Total Equity			605,572						33,116						21,177						0						659,865

Nine months ended September 30, 2020
(In thousands)			Banking						Insurance						Wealth Management						Intercompany						Consolidated
Interest income			$	190,960					$	3					$	0					$	(3)					$	190,960
Interest expense			23,375						0						0						(3)						23,372
Net interest income			167,585						3						0						0						167,588
Provision for credit loss expense			16,145						0						0						0						16,145
Noninterest income			19,217						24,533						12,903						(1,629)						55,024
Noninterest expense			111,387						19,479						9,740						(1,629)						138,977
Income before income tax expense			59,270						5,057						3,163						0						67,490
Income tax expense			11,665						1,362						752						0						13,779
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation			47,605						3,695						2,411						0						53,711
Less:  Net income attributable to noncontrolling interests			101						0						0						0						101
Net Income attributable to Tompkins Financial Corporation			$	47,504					$	3,695					$	2,411					$	0					$	53,610
Depreciation and amortization			$	7,443					$	173					$	38					$	0					$	7,654

Nine months ended September 30, 2019
(In thousands)			Banking						Insurance						Wealth Management						Intercompany						Consolidated
Interest income			$	196,797					$	2					$	0					$	(3)					$	196,796
Interest expense			39,410						0						0						(2)						39,408
Net interest income			157,387						2						0						(1)						$	157,388
Provision for credit loss expense			2,366						0						0						0						2,366
Noninterest income			21,852						24,621						12,567						(1,579)						57,461
Noninterest expense			108,704						19,279						9,529						(1,578)						135,934
Income before income tax expense			68,169						5,344						3,038						(2)						$	76,549
Income tax expense			13,650						1,418						748						0						15,816
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation			54,519						3,926						2,290						(2)						$	60,733
Less:  Net income attributable to noncontrolling interests			95						0						0						0						95
Net Income attributable to Tompkins Financial Corporation			$	54,424					$	3,926					$	2,290					$	(2)					$	60,638
Depreciation and amortization			$	7,296					$	168					$	31					$	0					$	7,495

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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