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Segment and Related Information | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment and Related Information | Segment and Related Information The Company adopted ASU No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." effective December 15, 2024. In accordance with Topic 280, the Company manages its operations through three reportable business segments: (i) banking and financial services ("Banking"), (ii) insurance services ("Tompkins Insurance") and (iii) wealth management ("Tompkins Financial Advisors"). The Company’s insurance services and wealth management services are managed separately from the Banking segment. Banking Tompkins Community Bank has twelve banking offices located in Ithaca, NY and surrounding communities; fourteen banking offices located in the Genesee Valley region of New York State as well as Monroe County; twelve full-service banking offices located in the counties north of New York City; and sixteen banking offices headquartered and operating in the areas surrounding southeastern Pennsylvania. Banking services consist primarily of attracting deposits from the areas served by the Company’s banking subsidiary and using those deposits to originate a variety of commercial loans, agricultural loans, consumer loans, real estate loans and leases in those same areas. The Company’s subsidiary bank provides a variety of retail banking services including checking accounts, savings accounts, time deposits, IRA products, residential mortgage loans, personal loans, home equity loans, credit cards, debit cards and safe deposit services delivered through its branch facilities, ATMs, voice response, mobile banking, Internet banking and remote deposit services. The Company’s subsidiary bank also provides a variety of commercial banking services such as lending activities for a variety of business purposes, including real estate financing, construction, equipment financing, accounts receivable financing and commercial leasing. Other commercial services include deposit and cash management services, letters of credit, sweep accounts, credit cards, Internet-based account services, mobile banking and remote deposit services. The banking subsidiary does not engage in sub-prime lending. 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. Chief Operating Decision Maker Our Chief Executive Officer ("CEO") is our chief operating decision maker. In order to allocate costs, capital and resources to each operating segment, we (i) identify the cost or opportunity value of funds within each business segment, (ii) measure the profitability of a particular business segment by relating appropriate costs to revenues, (iii) evaluate each business segment in a manner consistent with its economic impact on consolidated earnings, and (iv) enhance asset and liability pricing decisions. Our CEO reviews actual net income versus budgeted net income on a monthly basis to assess segment performance and to make decisions about allocating capital and personnel among the segments. 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 and financial 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 "Note 1 - Summary of Significant Accounting Policies" in this Report.
As of and for the year ended December 31, 2024
(In thousands) | Banking | Insurance | Wealth Management | Intercompany | Consolidated
Interest income | $ | 347,574 |  | $ | 5 |  | $ | 0 |  | $ | (5) |  | $ | 347,574 |
Interest expense | 136,477 |  | 0 |  | 0 |  | (5) |  | 136,472 |
Net interest income | 211,097 |  | 5 |  | 0 |  | 0 |  | 211,102 |
Provision for credit loss expense | 6,611 |  | 0 |  | 0 |  | 0 |  | 6,611 |
Noninterest income | 29,991 |  | 39,762 |  | 20,488 |  | (2,114) |  | 88,127 |
Noninterest expense | 157,320 |  | 28,983 |  | 15,453 |  | (2,114) |  | 199,642 |
Income before income tax expense | 77,157 |  | 10,784 |  | 5,035 |  | 0 |  | 92,976 |
Income tax expense | 17,807 |  | 2,943 |  | 1,253 |  | 0 |  | 22,003 |
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation | 59,350 |  | 7,841 |  | 3,782 |  | 0 |  | 70,973 |
Less: Net income attributable to noncontrolling interests | 123 |  | 0 |  | 0 |  | 0 |  | 123 |
Net Income attributable to Tompkins Financial Corporation | $ | 59,227 |  | $ | 7,841 |  | $ | 3,782 |  | $ | 0 |  | $ | 70,850 |
Depreciation and amortization | $ | 9,816 |  | $ | 159 |  | $ | 168 |  | $ | 0 |  | $ | 10,143 |
Assets | 8,048,149 |  | 47,059 |  | 29,367 |  | (15,495) |  | 8,109,080 |
Goodwill | 64,524 |  | 19,867 |  | 8,211 |  | 0 |  | 92,602 |
Other intangibles, net | 1,166 |  | 1,015 |  | 22 |  | 0 |  | 2,203 |
Net loans and leases | 5,963,426 |  | 0 |  | 0 |  | 0 |  | 5,963,426 |
Deposits | 6,495,526 |  | 0 |  | 0 |  | (23,721) |  | 6,471,805 |
Total equity | 637,414 |  | 38,534 |  | 37,496 |  | 0 |  | 713,444 |
As of and for the year ended December 31, 2023
(In thousands) | Banking | Insurance | Wealth Management | Intercompany | Consolidated
Interest income | $ | 297,358 |  | $ | 5 |  | $ | 0 |  | $ | (5) |  | $ | 297,358 |
Interest expense | 87,849 |  | 0 |  | 0 |  | (5) |  | 87,844 |
Net interest income | 209,509 |  | 5 |  | 0 |  | 0 |  | 209,514 |
Provision for credit loss expense | 4,339 |  | 0 |  | 0 |  | 0 |  | 4,339 |
Noninterest income | (43,667) |  | 37,868 |  | 18,262 |  | (2,222) |  | 10,241 |
Noninterest expense | 162,312 |  | 28,770 |  | 14,432 |  | (2,222) |  | 203,292 |
(Loss) Income before income tax expense | (809) |  | 9,103 |  | 3,830 |  | 0 |  | 12,124 |
Income tax (benefit) expense | (1,007) |  | 2,548 |  | 954 |  | 0 |  | 2,495 |
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation | 198 |  | 6,555 |  | 2,876 |  | 0 |  | 9,629 |
Less: Net income attributable to noncontrolling interests | 124 |  | 0 |  | 0 |  | 0 |  | 124 |
Net Income attributable to Tompkins Financial Corporation | $ | 74 |  | $ | 6,555 |  | $ | 2,876 |  | $ | 0 |  | $ | 9,505 |
Depreciation and amortization | $ | 11,047 |  | $ | 176 |  | $ | 176 |  | $ | 0 |  | $ | 11,399 |
Assets | 7,760,160 |  | 44,143 |  | 29,089 |  | (13,643) |  | 7,819,749 |
Goodwill | 64,524 |  | 19,867 |  | 8,211 |  | 0 |  | 92,602 |
Other intangibles, net | 956 |  | 1,336 |  | 35 |  | 0 |  | 2,327 |
Net loans and leases | 5,554,351 |  | 0 |  | 0 |  | 0 |  | 5,554,351 |
Deposits | 6,419,872 |  | 0 |  | 0 |  | (20,025) |  | 6,399,847 |
Total equity | 601,598 |  | 36,176 |  | 32,160 |  | 0 |  | 669,934 |
As of and for the year ended December 31, 2022
(In thousands) | Banking | Insurance | Wealth Management | Intercompany | Consolidated
Interest income | $ | 251,324 |  | $ | 5 |  | $ | 0 |  | $ | (5) |  | $ | 251,324 |
Interest expense | 21,048 |  | 0 |  | 0 |  | (5) |  | 21,043 |
Net interest income | 230,276 |  | 5 |  | 0 |  | 0 |  | 230,281 |
Provision for credit loss expense | 2,789 |  | 0 |  | 0 |  | 0 |  | 2,789 |
Noninterest income | 25,394 |  | 36,721 |  | 18,129 |  | (2,272) |  | 77,972 |
Noninterest expense | 156,186 |  | 27,678 |  | 14,159 |  | (2,272) |  | 195,751 |
Income before income tax expense | 96,695 |  | 9,048 |  | 3,970 |  | 0 |  | 109,713 |
Income tax expense | 21,085 |  | 2,504 |  | 968 |  | 0 |  | 24,557 |
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation | 75,610 |  | 6,544 |  | 3,002 |  | 0 |  | 85,156 |
Less: Net income attributable to noncontrolling interests | 126 |  | 0 |  | 0 |  | 0 |  | 126 |
Net Income attributable to Tompkins Financial Corporation | $ | 75,484 |  | $ | 6,544 |  | $ | 3,002 |  | $ | 0 |  | $ | 85,030 |
Depreciation and amortization | $ | 10,366 |  | $ | 175 |  | $ | 143 |  | $ | 0 |  | $ | 10,684 |
Assets | 7,610,701 |  | 45,090 |  | 28,977 |  | (14,082) |  | 7,670,686 |
Goodwill | 64,524 |  | 19,867 |  | 8,211 |  | 0 |  | 92,602 |
Other intangibles, net | 1,004 |  | 1,655 |  | 49 |  | 0 |  | 2,708 |
Net loans and leases | 5,222,977 |  | 0 |  | 0 |  | 0 |  | 5,222,977 |
Deposits | 6,614,659 |  | 0 |  | 1,079 |  | (13,443) |  | 6,602,295 |
Total equity | 559,123 | 35,155 | 23,112 | 0 | 617,390

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