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v3.24.3

Segment and Related Information (Table) | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Schedule of segment and related information |
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 |

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