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Segment and Related Information (Table) | 6 Months Ended
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Jun. 30, 2021
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 2020 Annual Report on Form 10-K.
As of and for the three months ended June 30, 2021
(In thousands) | Banking | Insurance | Wealth Management | Intercompany | Consolidated
Interest income | $ | 59,843 |  | $ | 0 |  | $ | 0 |  | $ | (8) |  | $ | 59,835 |
Interest expense | 4,997 |  | 0 |  | 0 |  | (8) |  | 4,989 |
Net interest income | 54,846 |  | 0 |  | 0 |  | 0 |  | 54,846 |
(Credit) provision for credit loss expense | (3,071) |  | 0 |  | 0 |  | 0 |  | (3,071) |
Noninterest income | 6,447 |  | 8,163 |  | 4,808 |  | (560) |  | 18,858 |
Noninterest expense | 37,879 |  | 6,760 |  | 3,363 |  | (560) |  | 47,442 |
Income before income tax expense | 26,485 |  | 1,403 |  | 1,445 |  | 0 |  | 29,333 |
Income tax expense | 5,729 |  | 401 |  | 341 |  | 0 |  | 6,471 |
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation | 20,756 |  | 1,002 |  | 1,104 |  | 0 |  | 22,862 |
Less: Net income attributable to noncontrolling interests | 31 |  | 0 |  | 0 |  | 0 |  | 31 |
Net Income attributable to Tompkins Financial Corporation | $ | 20,725 |  | $ | 1,002 |  | $ | 1,104 |  | $ | 0 |  | $ | 22,831 |
Depreciation and amortization | $ | 2,527 |  | $ | 55 |  | $ | 14 |  | $ | 0 |  | $ | 2,596 |
Assets | 7,987,751 |  | 46,590 |  | 30,435 |  | (76,568) |  | 7,988,208 |
Goodwill | 64,370 |  | 19,866 |  | 8,211 |  | 0 |  | 92,447 |
Other intangibles, net | 1,994 |  | 2,201 |  | 79 |  | 0 |  | 4,274 |
Net loans and leases | 5,127,624 |  | 0 |  | 0 |  | 0 |  | 5,127,624 |
Deposits | 6,851,924 |  | 0 |  | 0 |  | (14,924) |  | 6,837,000 |
Total Equity | 667,007 |  | 33,101 |  | 28,145 |  | 0 |  | 728,253 |
As of and for the three months ended June 30, 2020
(In thousands) | Banking | Insurance | Wealth Management | Intercompany | Consolidated
Interest income | $ | 63,445 |  | $ | 1 |  | $ | 0 |  | $ | (1) |  | $ | 63,445 |
Interest expense | 7,080 |  | 0 |  | 0 |  | (1) |  | 7,079 |
Net interest income | 56,365 |  | 1 |  | 0 |  | 0 |  | 56,366 |
Provision for credit loss expense | 877 |  | 0 |  | 0 |  | 0 |  | 877 |
Noninterest income | 6,248 |  | 7,360 |  | 4,095 |  | (526) |  | 17,177 |
Noninterest expense | 36,484 |  | 6,358 |  | 3,347 |  | (526) |  | 45,663 |
Income before income tax expense | 25,252 |  | 1,003 |  | 748 |  | 0 |  | 27,003 |
Income tax expense | 5,113 |  | 260 |  | 167 |  | 0 |  | 5,540 |
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation | 20,139 |  | 743 |  | 581 |  | 0 |  | 21,463 |
Less: Net income attributable to noncontrolling interests | 32 |  | 0 |  | 0 |  | 0 |  | 32 |
Net Income attributable to Tompkins Financial Corporation | $ | 20,107 |  | $ | 743 |  | $ | 581 |  | $ | 0 |  | $ | 21,431 |
Depreciation and amortization | $ | 2,484 |  | $ | 57 |  | $ | 10 |  | $ | 0 |  | $ | 2,551 |
Assets | 7,528,501 |  | 42,215 |  | 25,474 |  | (14,134) |  | 7,582,056 |
Goodwill | 64,585 |  | 19,866 |  | 7,996 |  | 0 |  | 92,447 |
Other intangibles, net | 2,758 |  | 2,623 |  | 119 |  | 0 |  | 5,500 |
Net loans and leases | 5,372,203 |  | 0 |  | 0 |  | 0 |  | 5,372,203 |
Deposits | 6,391,034 |  | 0 |  | 0 |  | (13,513) |  | 6,377,521 |
Total Equity | 643,139 |  | 31,567 |  | 23,323 |  | 0 |  | 698,029 |
As of and for the six months ended June 30, 2021
(In thousands) | Banking | Insurance | Wealth Management | Intercompany | Consolidated
Interest income | $ | 119,597 |  | $ | 2 |  | $ | 0 |  | $ | (9) |  | $ | 119,590 |
Interest expense | 9,716 |  | 0 |  | 0 |  | (9) |  | 9,707 |
Net interest income | 109,881 |  | 2 |  | 0 |  | 0 |  | 109,883 |
(Credit) provision for credit loss expense | (4,901) |  | 0 |  | 0 |  | 0 |  | (4,901) |
Noninterest income | 12,759 |  | 17,581 |  | 9,591 |  | (1,090) |  | 38,841 |
Noninterest expense | 73,206 |  | 13,197 |  | 6,640 |  | (1,090) |  | 91,953 |
Income before income tax expense | 54,335 |  | 4,386 |  | 2,951 |  | 0 |  | 61,672 |
Income tax expense | 11,243 |  | 1,203 |  | 705 |  | 0 |  | 13,151 |
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation | 43,092 |  | 3,183 |  | 2,246 |  | 0 |  | 48,521 |
Less: Net income attributable to noncontrolling interests | 64 |  | 0 |  | 0 |  | 0 |  | 64 |
Net Income attributable to Tompkins Financial Corporation | $ | 43,028 |  | $ | 3,183 |  | $ | 2,246 |  | $ | 0 |  | $ | 48,457 |
Depreciation and amortization | $ | 4,965 |  | $ | 110 |  | $ | 27 |  | $ | 0 |  | $ | 5,102 |
As of and for the six months ended June 30, 2020
(In thousands) | Banking | Insurance | Wealth Management | Intercompany | Consolidated
Interest income | $ | 126,644 |  | $ | 2 |  | $ | 0 |  | $ | (2) |  | $ | 126,644 |
Interest expense | 17,311 |  | 0 |  | 0 |  | (2) |  | 17,309 |
Net interest income | 109,333 |  | 2 |  | 0 |  | 0 |  | $ | 109,335 |
Provision for credit loss expense | 17,636 |  | 0 |  | 0 |  | 0 |  | 17,636 |
Noninterest income | 13,241 |  | 15,510 |  | 8,469 |  | (1,083) |  | 36,137 |
Noninterest expense | 72,709 |  | 12,920 |  | 6,392 |  | (1,083) |  | 90,938 |
Income before income tax expense | 32,229 |  | 2,592 |  | 2,077 |  | 0 |  | $ | 36,898 |
Income tax expense | 6,269 |  | 691 |  | 489 |  | 0 |  | 7,449 |
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation | 25,960 |  | 1,901 |  | 1,588 |  | 0 |  | $ | 29,449 |
Less: Net income attributable to noncontrolling interests | 69 |  | 0 |  | 0 |  | 0 |  | 69 |
Net Income attributable to Tompkins Financial Corporation | $ | 25,891 |  | $ | 1,901 |  | $ | 1,588 |  | $ | 0 |  | $ | 29,380 |
Depreciation and amortization | $ | 4,969 |  | $ | 116 |  | $ | 20 |  | $ | 0 |  | $ | 5,105 |

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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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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