XML 32 R20.htm IDEA: XBRL DOCUMENT
v3.21.2

Segment and Related Information | 9 Months Ended
--- | ---
Sep. 30, 2021
Segment Reporting [Abstract] |
Segment and Related Information | Segment and Related Information The Company manages its operations through three reportable business segments in accordance with the standards set forth in FASB ASC 280, “Segment Reporting”: (i) banking (“Banking”), (ii) insurance (“Tompkins Insurance”) and (iii) wealth management (“Tompkins Financial Advisors”). The Company’s insurance services and wealth management services, other than trust services, are managed separately from the Banking segment. Banking The Banking segment is primarily comprised of the Company’s four banking subsidiaries: Tompkins Trust Company, a commercial bank with thirteen banking offices located in Ithaca, NY and surrounding communities; The Bank of Castile (DBA Tompkins Bank of Castile), a commercial bank with sixteen banking offices located in the Genesee Valley region of New York State as well as Monroe County; Mahopac Bank (DBA Tompkins Mahopac Bank), a commercial bank with fourteen full-service banking offices located in the counties north of New York City; and VIST Bank (DBA Tompkins VIST Bank), a banking organization with twenty banking offices headquartered and operating in the areas surrounding southeastern Pennsylvania. As described above in greater detail in Note 1 - "Business", the Company's subsidiary banks have announced plans for a rebranding effort, pursuant to which the Company's four wholly-owned banking subsidiaries will be combined into one bank which will conduct business under the "Tompkins" brand name, with a legal name of "Tompkins Community Bank." Insurance The Company provides property and casualty insurance services and employee benefits consulting through Tompkins Insurance Agencies, Inc., a 100% wholly-owned subsidiary of the Company, headquartered in Batavia, New York. Tompkins Insurance is an independent insurance agency, representing many major insurance carriers and provides employee benefit consulting to employers in Western and Central New York and Southeastern Pennsylvania, assisting them with their medical, group life insurance and group disability insurance. Tompkins Insurance has five stand-alone offices in Western New York. Wealth Management The Wealth Management segment is generally organized under the Tompkins Financial Advisors brand. Tompkins Trust Company, under the Tompkins Financial Advisors brand offers a comprehensive suite of financial services to customers, including trust and estate services, investment management and financial and insurance planning for individuals, corporate executives, small business owners and high net worth individuals. Tompkins Financial Advisors has offices in each of the Company’s four subsidiary banks. 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 September 30, 2021
(In thousands) | Banking | Insurance | Wealth Management | Intercompany | Consolidated
Interest income | $ | 61,110 |  | $ | 8 |  | $ | 0 |  | $ | (4) |  | $ | 61,114 |
Interest expense | 5,020 |  | 0 |  | 0 |  | (4) |  | 5,016 |
Net interest income | 56,090 |  | 8 |  | 0 |  | 0 |  | 56,098 |
(Credit) provision for credit loss expense | (1,232) |  | 0 |  | 0 |  | 0 |  | (1,232) |
Noninterest income | 6,416 |  | 9,950 |  | 5,047 |  | (559) |  | 20,854 |
Noninterest expense | 40,587 |  | 6,846 |  | 3,306 |  | (559) |  | 50,180 |
Income before income tax expense | 23,151 |  | 3,112 |  | 1,741 |  | 0 |  | 28,004 |
Income tax expense | 5,351 |  | 855 |  | 424 |  | 0 |  | 6,630 |
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation | 17,800 |  | 2,257 |  | 1,317 |  | 0 |  | 21,374 |
Less: Net income attributable to noncontrolling interests | 32 |  | 0 |  | 0 |  | 0 |  | 32 |
Net Income attributable to Tompkins Financial Corporation | $ | 17,768 |  | $ | 2,257 |  | $ | 1,317 |  | $ | 0 |  | $ | 21,342 |
Depreciation and amortization | $ | 2,528 |  | $ | 52 |  | $ | 14 |  | $ | 0 |  | $ | 2,594 |
Assets | 8,051,446 |  | 45,855 |  | 32,257 |  | (16,448) |  | 8,113,110 |
Goodwill | 64,370 |  | 19,866 |  | 8,211 |  | 0 |  | 92,447 |
Other intangibles, net | 1,814 |  | 2,102 |  | 73 |  | 0 |  | 3,989 |
Net loans and leases | 5,050,519 |  | 0 |  | 0 |  | 0 |  | 5,050,519 |
Deposits | 7,105,651 |  | 0 |  | 0 |  | (14,753) |  | 7,090,898 |
Total Equity | 659,365 |  | 33,529 |  | 29,463 |  | 0 |  | 722,357 |
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 | (218) |  | 0 |  | 0 |  | 0 |  | (218) |
Noninterest income | 5,976 |  | 9,023 |  | 4,434 |  | (546) |  | 18,887 |
Noninterest expense | 37,405 |  | 6,559 |  | 3,348 |  | (546) |  | 46,766 |
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 nine months ended September 30, 2021
(In thousands) | Banking | Insurance | Wealth Management | Intercompany | Consolidated
Interest income | $ | 180,708 |  | $ | 10 |  | $ | 0 |  | $ | (14) |  | $ | 180,704 |
Interest expense | 14,737 |  | 0 |  | 0 |  | (14) |  | 14,723 |
Net interest income | 165,971 |  | 10 |  | 0 |  | 0 |  | 165,981 |
(Credit) provision for credit loss expense | (6,133) |  | 0 |  | 0 |  | 0 |  | (6,133) |
Noninterest income | 19,175 |  | 27,531 |  | 14,638 |  | (1,649) |  | 59,695 |
Noninterest expense | 113,792 |  | 20,044 |  | 9,946 |  | (1,649) |  | 142,133 |
Income before income tax expense | 77,487 |  | 7,497 |  | 4,692 |  | 0 |  | 89,676 |
Income tax expense | 16,595 |  | 2,057 |  | 1,129 |  | 0 |  | 19,781 |
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation | 60,892 |  | 5,440 |  | 3,563 |  | 0 |  | 69,895 |
Less: Net income attributable to noncontrolling interests | 96 |  | 0 |  | 0 |  | 0 |  | 96 |
Net Income attributable to Tompkins Financial Corporation | $ | 60,796 |  | $ | 5,440 |  | $ | 3,563 |  | $ | 0 |  | $ | 69,799 |
Depreciation and amortization | $ | 7,493 |  | $ | 162 |  | $ | 41 |  | $ | 0 |  | $ | 7,696 |
As of and for the 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 | 17,418 |  | 0 |  | 0 |  | 0 |  | 17,418 |
Noninterest income | 19,217 |  | 24,533 |  | 12,903 |  | (1,629) |  | 55,024 |
Noninterest expense | 110,114 |  | 19,479 |  | 9,740 |  | (1,629) |  | 137,704 |
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 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -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 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration