Segment and Related Information (Tables)

3 Months Ended

Mar. 31, 2024

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 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, 2023.


Three months ended March 31, 2024
(In thousands)	Banking		Insurance		Wealth Management		Intercompany		Consolidated
Interest income	$	83,183	$	1	$	0	$	(1)	$	83,183
Interest expense	32,509		0		0		(1)		32,508
Net interest income	50,674		1		0		0		50,675
Provision for credit loss expense	854		0		0		0		854
Noninterest income	7,111		10,526		5,039		(539)		22,137
Noninterest expense	39,363		7,227		3,806		(539)		49,857
Income before income tax expense	17,568		3,300		1,233		0		22,101
Income tax expense	3,986		906		306		0		5,198
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation	13,582		2,394		927		0		16,903
Less: Net income attributable to noncontrolling interests	31		0		0		0		31
Net Income attributable to Tompkins Financial Corporation	$	13,551	$	2,394	$	927	$	0	$	16,872

Depreciation and amortization	$	2,922	$	43	$	41	$	0	$	3,006
Assets	7,719,504		45,987		29,577		(17,034)		7,778,034
Goodwill	64,525		19,866		8,211		0		92,602
Other intangibles, net	953		1,262		32		0		2,247
Net loans and leases	5,588,820		0		0		0		5,588,820
Deposits	6,473,721		0		0		(24,105)		6,449,616
Total Equity	$	598,717	$	37,039	$	33,582	$	0	$	669,338


Three months ended March 31, 2023
(In thousands)	Banking		Insurance		Wealth Management		Intercompany		Consolidated
Interest income	$	69,238	$	1	$	0	$	(1)	$	69,238
Interest expense	14,993		0		0		(1)		14,992
Net interest income	54,245		1		0		0		54,246
(Credit) provision for credit loss expense	(825)		0		0		0		(825)
Noninterest income	6,698		9,636		4,621		(555)		20,400
Noninterest expense	39,848		7,215		3,650		(555)		50,158
Income before income tax expense	21,920		2,422		971		0		25,313
Income tax expense	4,989		673		239		0		5,901
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation	16,931		1,749		732		0		19,412
Less: Net income attributable to noncontrolling interests	31		0		0		0		31
Net Income attributable to Tompkins Financial Corporation	$	16,900	$	1,749	$	732	$	0	$	19,381

Depreciation and amortization	$	2,589	$	44	$	45	$	0	$	2,678
Assets	7,586,753		43,779		29,013		(15,174)		7,644,371
Goodwill	64,655		19,866		8,081		0		92,602
Other intangibles, net	984		1,576		45		0		2,605
Net loans and leases	5,227,572		0		0		0		5,227,572
Deposits	6,527,953		0		(4,245)		(14,699)		6,509,009
Total Equity	$	584,650	$	35,625	$	29,490	$	0	$	649,765