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Segment and Related Information
3 Months Ended
Mar. 31, 2023
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
Tompkins Community Bank has twelve banking offices located in Ithaca, NY and surrounding communities; sixteen banking offices located in the Genesee Valley region of New York State, which includes Monroe County; thirteen banking offices located in the counties north of New York City; and nineteen banking offices headquartered and operating in the areas surrounding southeastern Pennsylvania.
 
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 Financial Advisors 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 regional markets.
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 the bank and the holding company. All other accounting policies are the same as those described in the summary of significant accounting policies in the Company's Annual Report on Form 10-K for the year ended December 31, 2022.
 
Three months ended March 31, 2023
(In thousands)BankingInsuranceWealth ManagementIntercompanyConsolidated
Interest income$69,238 $$$(1)$69,238 
Interest expense14,993 (1)14,992 
Net interest income54,245 54,246 
Credit for credit loss expense(825)(825)
Noninterest income6,698 9,636 4,621 (555)20,400 
Noninterest expense39,848 7,215 3,650 (555)50,158 
Income before income tax expense21,920 2,422 971 25,313 
Income tax expense4,989 673 239 5,901 
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation16,931 1,749 732 19,412 
Less: Net income attributable to noncontrolling interests31 31 
Net Income attributable to Tompkins Financial Corporation$16,900 $1,749 $732 $$19,381 
Depreciation and amortization$2,589 $44 $45 $$2,678 
Assets7,586,753 43,779 29,013 (15,174)7,644,371 
Goodwill64,655 19,866 8,081 92,602 
Other intangibles, net984 1,576 45 2,605 
Net loans and leases5,227,572 5,227,572 
Deposits6,527,953 (4,245)(14,699)6,509,009 
Total Equity$584,650 $35,625 $29,490 $$649,765 
Three months ended March 31, 2022
(In thousands)BankingInsuranceWealth
Management
IntercompanyConsolidated
Interest income$59,176 $$$(1)$59,176 
Interest expense2,563 (1)2,562 
Net interest income56,613 56,614 
Credit for credit loss expense(520)(520)
Noninterest income6,193 9,434 4,934 (576)19,985 
Noninterest expense37,190 6,501 3,724 (576)46,839 
Income before income tax expense26,136 2,934 1,210 30,280 
Income tax expense5,791 815 370 6,976 
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation20,345 2,119 840 23,304 
Less: Net income attributable to noncontrolling interests31 31 
Net Income attributable to Tompkins Financial Corporation$20,314 $2,119 $840 $$23,273 
Depreciation and amortization$2,578 $44 $28 $$2,650 
Assets7,835,767 44,247 26,684 (15,587)7,891,111 
Goodwill64,500 19,866 8,081 92,447 
Other intangibles, net1,402 1,917 63 3,382 
Net loans and leases5,021,325 5,021,325 
Deposits7,031,223 (10)(14,474)7,016,739 
Total Equity$598,707 $34,128 $24,657 $$657,492