XML 47 R30.htm IDEA: XBRL DOCUMENT v3.25.0.1
Segment and Related Information
 12 Months Ended
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)BankingInsuranceWealth
Management		IntercompanyConsolidated
Interest income$347,574 $5 $0 $(5)$347,574 
Interest expense136,477 0 0 (5)136,472 
Net interest income211,097 5 0 0 211,102 
Provision for credit loss expense6,611 0 0 0 6,611 
Noninterest income29,991 39,762 20,488 (2,114)88,127 
Noninterest expense157,320 28,983 15,453 (2,114)199,642 
Income before income tax expense77,157 10,784 5,035 0 92,976 
Income tax expense17,807 2,943 1,253 0 22,003 
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation59,350 7,841 3,782 0 70,973 
Less: Net income attributable to noncontrolling interests123 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 
Assets8,048,149 47,059 29,367 (15,495)8,109,080 
Goodwill64,524 19,867 8,211 0 92,602 
Other intangibles, net1,166 1,015 22 0 2,203 
Net loans and leases5,963,426 0 0 0 5,963,426 
Deposits6,495,526 0 0 (23,721)6,471,805 
Total equity637,414 38,534 37,496 0 713,444 
 As of and for the year ended December 31, 2023
(In thousands)BankingInsuranceWealth
Management		IntercompanyConsolidated
Interest income$297,358 $5 $0 $(5)$297,358 
Interest expense87,849 0 0 (5)87,844 
Net interest income209,509 5 0 0 209,514 
Provision for credit loss expense4,339 0 0 0 4,339 
Noninterest income(43,667)37,868 18,262 (2,222)10,241 
Noninterest expense162,312 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 Corporation198 6,555 2,876 0 9,629 
Less: Net income attributable to noncontrolling interests124 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 
Assets7,760,160 44,143 29,089 (13,643)7,819,749 
Goodwill64,524 19,867 8,211 0 92,602 
Other intangibles, net956 1,336 35 0 2,327 
Net loans and leases5,554,351 0 0 0 5,554,351 
Deposits6,419,872 0 0 (20,025)6,399,847 
Total equity601,598 36,176 32,160 0 669,934 

 As of and for the year ended December 31, 2022
(In thousands)BankingInsuranceWealth ManagementIntercompanyConsolidated
Interest income$251,324 $5 $0 $(5)$251,324 
Interest expense21,048 0 0 (5)21,043 
Net interest income230,276 5 0 0 230,281 
Provision for credit loss expense2,789 0 0 0 2,789 
Noninterest income25,394 36,721 18,129 (2,272)77,972 
Noninterest expense156,186 27,678 14,159 (2,272)195,751 
Income before income tax expense96,695 9,048 3,970 0 109,713 
Income tax expense21,085 2,504 968 0 24,557 
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation75,610 6,544 3,002 0 85,156 
Less: Net income attributable to noncontrolling interests126 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 
Assets7,610,701 45,090 28,977 (14,082)7,670,686 
Goodwill64,524 19,867 8,211 0 92,602 
Other intangibles, net1,004 1,655 49 0 2,708 
Net loans and leases5,222,977 0 0 0 5,222,977 
Deposits6,614,659 0 1,079 (13,443)6,602,295 
Total equity559,12335,15523,1120617,390