XML 32 R20.htm IDEA: XBRL DOCUMENT
v3.24.3

Segment and Related Information | 9 Months Ended
--- | ---
Sep. 30, 2024
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; fifteen banking offices located in the Genesee Valley region of New York State, which includes Monroe County; twelve banking offices located in the counties north of New York City; and sixteen banking offices headquartered and operating in 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 four 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 tables. 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 September 30, 2024
(In thousands) | Banking | Insurance | Wealth Management | Intercompany | Consolidated
Interest income | $ | 89,129 |  | $ | 1 |  | $ | 0 |  | $ | (1) |  | $ | 89,129 |
Interest expense | 35,937 |  | 0 |  | 0 |  | (1) |  | 35,936 |
Net interest income | 53,192 |  | 1 |  | 0 |  | 0 |  | 53,193 |
Provision for credit loss expense | 2,174 |  | 0 |  | 0 |  | 0 |  | 2,174 |
Noninterest income | 7,465 |  | 11,414 |  | 5,019 |  | (513) |  | 23,385 |
Noninterest expense | 39,180 |  | 7,193 |  | 4,017 |  | (513) |  | 49,877 |
Income before income tax expense | 19,303 |  | 4,222 |  | 1,002 |  | 0 |  | 24,527 |
Income tax expense | 4,456 |  | 1,155 |  | 247 |  | 0 |  | 5,858 |
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation | 14,847 |  | 3,067 |  | 755 |  | 0 |  | 18,669 |
Less: Net income attributable to noncontrolling interests | 31 |  | 0 |  | 0 |  | 0 |  | 31 |
Net Income attributable to Tompkins Financial Corporation | $ | 14,816 |  | $ | 3,067 |  | $ | 755 |  | $ | 0 |  | $ | 18,638 |
Depreciation and amortization | $ | 2,144 |  | $ | 38 |  | $ | 42 |  | $ | 0 |  | $ | 2,224 |
Assets | 7,946,772 |  | 49,928 |  | 29,520 |  | (19,793) |  | 8,006,427 |
Goodwill | 64,525 |  | 19,866 |  | 8,211 |  | 0 |  | 92,602 |
Other intangibles, net | 1,110 |  | 1,103 |  | 25 |  | 0 |  | 2,238 |
Net loans and leases | 5,825,877 |  | 0 |  | 0 |  | 0 |  | 5,825,877 |
Deposits | 6,605,596 |  | 0 |  | 0 |  | (27,700) |  | 6,577,896 |
Total Equity | 647,369 |  | 40,266 |  | 33,713 |  | 0 |  | 721,348 |
Three Months Ended September 30, 2023
(In thousands) | Banking | Insurance | Wealth Management | Intercompany | Consolidated
Interest income | $ | 75,465 |  | $ | 1 |  | $ | 0 |  | $ | (1) |  | $ | 75,465 |
Interest expense | 24,453 |  | 0 |  | 0 |  | (1) |  | 24,452 |
Net interest income | 51,012 |  | 1 |  | 0 |  | 0 |  | 51,013 |
Provision for credit loss expense | 1,150 |  | 0 |  | 0 |  | 0 |  | 1,150 |
Noninterest income | (57,007) |  | 11,529 |  | 4,414 |  | (560) |  | (41,624) |
Noninterest expense | 39,648 |  | 7,109 |  | 3,668 |  | (559) |  | 49,866 |
(Loss) Income before income tax expense | (46,793) |  | 4,421 |  | 746 |  | (1) |  | (41,627) |
Income tax (benefit) expense | (9,701) |  | 1,213 |  | 184 |  | 0 |  | (8,304) |
Net (Loss) Income attributable to noncontrolling interests and Tompkins Financial Corporation | (37,092) |  | 3,208 |  | 562 |  | (1) |  | (33,323) |
Less: Net income attributable to noncontrolling interests | 31 |  | 0 |  | 0 |  | 0 |  | 31 |
Net (Loss) Income attributable to Tompkins Financial Corporation | $ | (37,123) |  | $ | 3,208 |  | $ | 562 |  | $ | (1) |  | $ | (33,354) |
Depreciation and amortization | $ | 2,702 |  | $ | 44 |  | $ | 44 |  | $ | 0 |  | $ | 2,790 |
Assets | 7,632,733 |  | 46,222 |  | 28,730 |  | (16,523) |  | 7,691,162 |
Goodwill | 64,655 |  | 19,866 |  | 8,081 |  | 0 |  | 92,602 |
Other intangibles, net | 967 |  | 1,416 |  | 38 |  | 0 |  | 2,421 |
Net loans and leases | 5,385,524 |  | 0 |  | 0 |  | 0 |  | 5,385,524 |
Deposits | 6,645,587 |  | 0 |  | 0 |  | (22,151) |  | 6,623,436 |
Total Equity | 545,037 |  | 36,745 |  | 30,574 |  | 0 |  | 612,356 |
Nine Months Ended September 30, 2024
(In thousands) | Banking | Insurance | Wealth Management | Intercompany | Consolidated
Interest income | $ | 257,552 |  | $ | 3 |  | $ | 0 |  | $ | (3) |  | $ | 257,552 |
Interest expense | 102,734 |  | 0 |  | 0 |  | (3) |  | 102,731 |
Net interest income | 154,818 |  | 3 |  | 0 |  | 0 |  | 154,821 |
Provision for credit loss expense | 5,200 |  | 0 |  | 0 |  | 0 |  | 5,200 |
Noninterest income | 22,398 |  | 31,161 |  | 15,318 |  | (1,579) |  | 67,298 |
Noninterest expense | 118,205 |  | 21,506 |  | 11,544 |  | (1,579) |  | 149,676 |
Income before income tax expense | 53,811 |  | 9,658 |  | 3,774 |  | 0 |  | 67,243 |
Income tax expense | 12,380 |  | 2,644 |  | 934 |  | 0 |  | 15,958 |
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation | 41,431 |  | 7,014 |  | 2,840 |  | 0 |  | 51,285 |
Less: Net income attributable to noncontrolling interests | 93 |  | 0 |  | 0 |  | 0 |  | 93 |
Net Income attributable to Tompkins Financial Corporation | $ | 41,338 |  | $ | 7,014 |  | $ | 2,840 |  | $ | 0 |  | $ | 51,192 |
Depreciation and amortization | $ | 7,588 |  | $ | 122 |  | $ | 124 |  | $ | 0 |  | $ | 7,834 |
Nine Months Ended September 30, 2023
(In thousands) | Banking | Insurance | Wealth Management | Intercompany | Consolidated
Interest income | $ | 216,573 |  | $ | 3 |  | $ | 0 |  | $ | (3) |  | $ | 216,573 |
Interest expense | 59,421 |  | 0 |  | 0 |  | (3) |  | 59,418 |
Net interest income | 157,152 |  | 3 |  | 0 |  | 0 |  | 157,155 |
Provision for credit loss expense | 2,578 |  | 0 |  | 0 |  | 0 |  | 2,578 |
Noninterest income | (50,687) |  | 29,963 |  | 13,771 |  | (1,656) |  | (8,609) |
Noninterest expense | 120,882 |  | 21,526 |  | 11,240 |  | (1,656) |  | 151,992 |
(Loss) Income before income tax expense | (16,995) |  | 8,440 |  | 2,531 |  | 0 |  | (6,024) |
Income tax (benefit) expense | (3,565) |  | 2,323 |  | 623 |  | 0 |  | (619) |
Net (Loss) Income attributable to noncontrolling interests and Tompkins Financial Corporation | (13,430) |  | 6,117 |  | 1,908 |  | 0 |  | (5,405) |
Less: Net income attributable to noncontrolling interests | 93 |  | 0 |  | 0 |  | 0 |  | 93 |
Net (Loss) Income attributable to Tompkins Financial Corporation | $ | (13,523) |  | $ | 6,117 |  | $ | 1,908 |  | $ | 0 |  | $ | (5,498) |
Depreciation and amortization | $ | 7,942 |  | $ | 133 |  | $ | 133 |  | $ | 0 |  | $ | 8,208 |

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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration