EX-99.1 2 q32025pressrelease.htm EX-99.1 Document


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For more information contact:
Stephen S. Romaine, President & CEO
Matthew Tomazin, Executive VP, CFO & Treasurer
Tompkins Financial Corporation (888) 503-5753

For Immediate Release
Friday, October 24, 2025

Tompkins Financial Corporation Reports Improved Third Quarter Financial Results

ITHACA, NY - Tompkins Financial Corporation (NYSE American: TMP)
Tompkins Financial Corporation ("Tompkins" or the "Company") reported diluted earnings per share of $1.65 for the third quarter of 2025, up 10.0% from the immediate prior quarter, and up 26.9% from the diluted earnings per share of $1.30 reported for the third quarter of 2024. Net income for the third quarter of 2025 was $23.7 million, up $2.2 million, or 10.3%, compared to the second quarter of 2025, and up $5.0 million, or 27.0%, when compared to the third quarter of 2024.

For the nine months ended September 30, 2025, diluted earnings per share were $4.52, up 25.9% from the $3.59 reported for the nine months ended September 30, 2024. Year-to-date net income was $64.8 million for the nine months ended September 30, 2025, up $13.6 million or 26.6% when compared to $51.2 million for the same nine month period in 2024.

Tompkins President and CEO, Stephen Romaine, commented, "Our third quarter financial results highlight the strength of our team and balance sheet. Net income was up 27.0% in the third quarter of 2025 as compared to the same quarter in the prior year. Our performance was driven by continued net interest margin expansion along with loan and deposit growth of 7%. Our improved earnings reflected the results of investments in our business, as expenses for the 2025 year-to-date period were up over 4% compared to the prior year period. We believe we remain well positioned to continue to support growth, build quality customer relationships and support our local communities."

SELECTED HIGHLIGHTS FOR THE PERIOD:
•Net interest margin improved to 3.20% in the third quarter of 2025, up 12 basis points from the immediate prior quarter, and up 41 basis points from the third quarter of 2024.


•Total loans at September 30, 2025 were up $115.4 million, or 1.9% compared to June 30, 2025 (7.5% on an annualized basis), and up $406.8 million, or 6.9%, from September 30, 2024.
•Total deposits at September 30, 2025 were $7.1 billion, up $337.3 million, or 5.0% compared to the most recent prior quarter end, and up $475.2 million, or 7.2%, from September 30, 2024.
•Total average cost of funds of 1.83% for the third quarter of 2025 was down 1 basis point compared to the most recent prior quarter, and down 18 basis points compared to the same period of the prior year.
•Provision expense for the third quarter of 2025 was $2.5 million, compared to $2.8 million for the second quarter of 2025 and $2.2 million for the third quarter of 2024.
•Loan to deposit ratio at September 30, 2025 was 89.2%, compared to 91.9% at June 30, 2025, and 89.4% at September 30, 2024.
•Regulatory Tier 1 capital to average assets was 9.41% at September 30, 2025, up compared to 9.36% at June 30, 2025, and 9.19% at September 30, 2024.

NET INTEREST INCOME
Net interest income was $63.9 million for the third quarter of 2025, up $3.7 million or 6.2% compared to the second quarter of 2025, and up $10.7 million or 20.1% compared to the third quarter of 2024. The increase in net interest income compared to both periods was due to improvement in net interest margin, which is discussed below, and growth in average loans.

For the nine months ended September 30, 2025, net interest income was $180.7 million, up $25.8 million or 16.7% when compared to the same period in 2024.

Net interest margin was 3.20% for the third quarter of 2025, up 12 basis points when compared to the immediate prior quarter, and up 41 basis points from 2.79% for the third quarter of 2024. The increase in net interest margin, when compared to the most recent prior quarter, was mainly due to increased yields on average interest earning assets and higher average loan balances. The increase over the prior year third quarter was due to the same factors, as well as lower funding costs resulting from improved funding mix.

Average loans for the quarter ended September 30, 2025 were up $86.8 million, or 1.4%, from the most recent prior quarter, and were up $385.5 million, or 6.6%, compared to the same prior year period. The increase in average loans over both prior periods was mainly in the commercial real estate and commercial and industrial portfolios. The average yield on interest-earning assets for the quarter ended September 30, 2025 was 4.90%, an increase of 11 basis points from 4.79% for the quarter ended June 30, 2025, and up 24 basis points from 4.66% for the quarter ended September 30, 2024.

Average total deposits of $6.8 billion for the third quarter of 2025 were up $116.7 million, or 1.7%, compared to the second quarter of 2025, and up $481.8 million, or 7.6%, compared to the third quarter of 2024. The cost of interest-bearing deposits of 2.26% for the third quarter of 2025 was up 2 basis points compared to the most recent prior quarter, and down 9 basis points from 2.35% for the third quarter of 2024. The ratio of average noninterest bearing deposits to average total deposits for the third quarter of 2025 was 27.6% compared to


27.0% for the second quarter of 2025, and 28.9% for the third quarter of 2024. The average cost of interest-bearing liabilities for the third quarter of 2025 was 2.45%, up 1 basis point when compared to the most recent prior quarter, and down 26 basis points from the same period in 2024.

NONINTEREST INCOME
Noninterest income of $23.6 million for the third quarter of 2025 was up $179,000 or 0.8% compared to the third quarter of 2024, mainly due to an increase in the gain on the sale of loans, which was up $202,000 or 52.2% compared to the same period in 2024. Year-to-date noninterest income of $71.1 million was up $3.8 million or 5.7% compared to the same period in 2024, mainly due to a $2.1 million, or 28.7% increase in other income, which included a $1.9 million gain on the sale of other real estate owned, and an increase in insurance commissions and fees of $1.9 million or 6.1%. The increase for the year-to-date period also included an increase in wealth management fees of $351,000 or 2.4%. These increases were partially offset by a decrease in card services income, which was down $471,000 or 5.2%. Card services income in 2024 included a $255,000 sign-on bonus related to the renewal of a card services contract.

NONINTEREST EXPENSE
Noninterest expense was $53.8 million for the third quarter of 2025, up $4.0 million or 8.0% compared to the same period in 2024. Noninterest expense for the year-to-date period ended September 30, 2025 was $156.1 million, an increase of $6.4 million or 4.3% compared to the $149.7 million reported for the same period in 2024. Increases for both periods over the prior year periods reflected higher personnel-related expenses, which were up $1.7 million or 5.4% for the third quarter of 2025, and up $4.7 million or 5.0% for the year-to-date period ended September 30, 2025, and other operating expense, up $2.1 million or 16.2% for the third quarter of 2025, and up $1.7 million or 4.3% for the year-to-date period ended September 30, 2025. The increase in other operating expenses reflects investments in support of future growth.

INCOME TAX EXPENSE
Provision for income tax expense was $7.4 million for an effective rate of 23.9% for the third quarter of 2025, compared to $5.9 million for an effective rate of 23.9% for the third quarter of 2024. For the nine months ended September 30, 2025, the provision for income tax expense was $20.3 million and the effective tax rate was 23.9% compared to $16.0 million for an effective tax rate of 23.7% for the same period in 2024.



ASSET QUALITY
The allowance for credit losses represented 0.95% of total loans and leases at September 30, 2025, unchanged from the most recent prior quarter, and up from 0.94% reported at September 30, 2024. The increase in the allowance for credit losses coverage ratio compared to September 30, 2024 was mainly due to updated economic forecasts for unemployment and gross domestic product for the quarter, as well as updated model assumptions based on the annual model review. The ratio of the allowance to total nonperforming loans and leases was 113.06% at September 30, 2025, compared to 111.55% at June 30, 2025, and 88.51% at September 30, 2024. The increase in the ratio compared to the third quarter of 2024 was due to the decrease in nonperforming loans and leases, discussed in more detail below.

Provision for credit losses for the third quarter of 2025 was $2.5 million compared to $2.2 million for the third quarter of 2024. Provision for credit losses for the nine months ended September 30, 2025 was $10.6 million compared to $5.2 million for the nine months ended September 30, 2024. The increase in provision expense for the year-to-date period compared to the same period in 2024 was mainly driven by a charge-off of $4.7 million in the second quarter of 2025 on a commercial real estate relationship totaling $18.1 million. Net charge-offs for the three months ended September 30, 2025 were $1.1 million, compared to $5.3 million for the second quarter of 2025, and $912,000 for the third quarter of 2024. The decrease in net charge-offs compared to the second quarter of 2025 was mainly related to the $4.7 million charge-off discussed above.

Nonperforming assets of $53.0 million represented 0.63% of total assets at September 30, 2025, in line with June 30, 2025, and down from $62.7 million or 0.78% at September 30, 2024. The decrease in nonperforming assets at September 30, 2025 compared to the same period in 2024 was largely due to one nonperforming commercial real estate loan totaling $14.2 million moving into other real estate owned during the fourth quarter of 2024, and subsequently being sold in the first quarter of 2025. Loans past due 30-89 days totaled $7.8 million at September 30, 2025, $5.9 million at June 30, 2025, and $7.0 million at September 30, 2024.

Special Mention and Substandard loans and leases totaled $144.2 million at September 30, 2025, compared to $96.8 million reported at June 30, 2025, and $126.0 million reported at September 30, 2024. The increase was mainly a result of two loans totaling $41.2 million being downgraded to Special Mention during the third quarter of 2025. The Company believes that the existing collateral and pledged investments securing the loans are sufficient to cover the exposure.

CAPITAL POSITION
Capital ratios at September 30, 2025 remained well above the regulatory minimums for well-capitalized institutions. The ratio of total capital to risk-weighted assets was 13.27% at September 30, 2025, compared to 13.15% at June 30, 2025, and 13.21% at September 30, 2024. The ratio of Tier 1 capital to average assets was 9.41% at September 30, 2025, compared to 9.36% at June 30, 2025, and 9.19% at September 30, 2024.




LIQUIDITY POSITION
The Company's liquidity position at September 30, 2025 was stable and consistent with its position at June 30, 2025. Liquidity is enhanced by ready access to national and regional wholesale funding sources including Federal funds purchased, repurchase agreements, brokered deposits, Federal Reserve Bank's Discount Window advances and Federal Home Loan Bank (FHLB) advances. The Company maintained ready access to liquidity of $1.5 billion, or 17.8% of total assets, at September 30, 2025.

ABOUT TOMPKINS FINANCIAL CORPORATION
Tompkins Financial Corporation is a banking and financial services company serving the Central, Western, and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. Headquartered in Ithaca, NY, Tompkins Financial is parent to Tompkins Community Bank and Tompkins Insurance Agencies, Inc. Tompkins Community Bank provides a full array of wealth management services under the Tompkins Financial Advisors brand, including investment management, trust and estate, financial and tax planning services. For more information on Tompkins Financial, visit www.tompkinsfinancial.com.


"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The statements contained in this press release that are not statements of historical fact may include forward-looking statements that involve a number of risks and uncertainties. Forward-looking statements may be identified by use of such words as "may", "will", "estimate", "intend", "continue", "believe", "expect", "plan", "commit", or "anticipate", as well as the negative and other variations of these terms and other similar words. Examples of forward-looking statements may include statements regarding growth and the sufficiency of collateral to cover exposure related to Special Mention and Substandard loans. Forward-looking statements are made based on management’s expectations and beliefs concerning future events impacting the Company and are subject to uncertainties and factors relating to the Company’s operations and economic environment, all of which are difficult to predict and many of which are beyond the control of the Company, that could cause actual results of the Company to differ materially from those expressed and/or implied by forward-looking statements and historical performance. The following factors, in addition to those listed as Risk Factors in Item 1A in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission, are among those that could cause actual results to differ materially from the forward-looking statements and historical performance: changes in general economic, market and regulatory conditions; our ability to attract and retain deposits and other sources of liquidity; gross domestic product growth and inflation trends; the impact of the interest rate and inflationary environment on the Company's business, financial condition and results of operations; other income or cash flow anticipated from the Company's operations, investment and/or lending activities; changes in laws and regulations affecting banks, bank holding companies and/or financial holding companies, including the Dodd-Frank Act, and other federal, state and local government mandates; the impact of any change in the FDIC insurance assessment rate or the rules and regulations related to the calculation of the FDIC insurance assessment amount; increased supervisory and regulatory scrutiny of financial institutions; technological developments and changes;


cybersecurity incidents and threats; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; governmental and public policy changes, including environmental regulation; reliance on large customers; the ability to access financial resources in the amounts, at the times, and on the terms required to support the Company's future businesses; and the economic impact, including market volatility, of national and global events, including the response to bank failures, war and geopolitical matters (including the war in Ukraine and the impacts of continued or escalating hostilities in the Middle East), tariffs and trade wars, widespread protests, civil unrest, political uncertainty, and pandemics or other public health crises. The Company does not undertake any obligation to update its forward-looking statements.


TOMPKINS FINANCIAL CORPORATION
CONSOLIDATED STATEMENTS OF CONDITION
(In thousands, except share and per share data) (Unaudited)As ofAs of
ASSETS9/30/202512/31/2024
(Audited)
Cash and noninterest bearing balances due from banks$77,115 $53,635 
Interest bearing balances due from banks116,377 80,763 
Cash and Cash Equivalents193,492 134,398 
Available-for-sale debt securities, at fair value (amortized cost of $1,380,783 at September 30, 2025 and $1,367,123 at December 31, 2024)1,291,053 1,231,532 
Held-to-maturity debt securities, at amortized cost (fair value of $281,624 at September 30, 2025 and $267,295 at December 31, 2024)312,510 312,462 
Equity securities, at fair value794 768 
Total loans and leases, net of unearned income and deferred costs and fees6,288,071 6,019,922 
Less: Allowance for credit losses59,889 56,496 
Net Loans and Leases6,228,182 5,963,426 
Federal Home Loan Bank and other stock27,083 42,255 
Bank premises and equipment, net73,842 76,627 
Corporate owned life insurance77,328 76,448 
Goodwill92,602 92,602 
Other intangible assets, net2,325 2,203 
Accrued interest and other assets169,520 176,359 
Total Assets$8,468,731 $8,109,080 
LIABILITIES
Deposits:
Interest bearing:
Checking, savings and money market3,904,875 3,558,946 
Time1,242,051 1,068,375 
Noninterest bearing1,906,144 1,844,484 
Total Deposits7,053,070 6,471,805 
Federal funds purchased and securities sold under agreements to repurchase80,804 37,036 
Other borrowings444,866 790,247 
Other liabilities101,186 96,548 
Total Liabilities$7,679,926 $7,395,636 
EQUITY
Tompkins Financial Corporation shareholders' equity:
Common Stock - par value $.10 per share: Authorized 25,000,000 shares; Issued: 14,461,230 at September 30, 2025; and 14,468,013 at December 31, 20241,447 1,447 
Additional paid-in capital301,184 300,073 
Retained earnings575,112 537,157 
Accumulated other comprehensive loss(83,773)(118,492)
Treasury stock, at cost – 101,665 shares at September 30, 2025, and 131,497 shares at December 31, 2024(5,165)(6,741)
Total Equity$788,805 $713,444 
Total Liabilities and Equity$8,468,731 $8,109,080 


TOMPKINS FINANCIAL CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data) (Unaudited)Three Months EndedNine Months Ended
9/30/202506/30/20259/30/20249/30/20259/30/2024
INTEREST AND DIVIDEND INCOME
Loans$86,309 $82,293 $77,814 $247,232 $223,059 
Due from banks187 187 168 549 506 
Available-for-sale debt securities9,738 9,311 9,037 27,778 28,019 
Held-to-maturity debt securities1,224 1,220 1,222 3,661 3,659 
Federal Home Loan Bank and other stock598 635 888 1,944 2,309 
Total Interest and Dividend Income98,056 $93,646 $89,129 $281,164 $257,552 
INTEREST EXPENSE
Time certificates of deposits of $250,000 or more4,063 4,140 4,158 12,710 12,216 
Other deposits24,210 23,339 22,553 69,692 64,213 
Federal funds purchased and securities sold under agreements to repurchase23 61 11 125 35 
Other borrowings5,882 5,976 9,214 17,967 26,267 
Total Interest Expense34,178 33,516 35,936 100,494 102,731 
Net Interest Income63,878 60,130 53,193 180,670 154,821 
Less: Provision for credit loss expense2,490 2,780 2,174 10,557 5,200 
Net Interest Income After Provision for Credit Loss Expense61,388 57,350 51,019 170,113 149,621 
NONINTEREST INCOME
Insurance commissions and fees11,282 9,609 11,283 32,490 30,629 
Wealth management fees4,979 4,964 4,925 15,062 14,711 
Service charges on deposit accounts1,844 1,790 1,872 5,439 5,434 
Card services income2,891 3,150 2,921 8,667 9,138 
Other income2,557 2,998 2,299 9,424 7,321 
Net gain (loss) on securities transactions11 1 85 26 65 
Total Noninterest Income23,564 22,512 23,385 71,108 67,298 
NONINTEREST EXPENSE
Salaries and wages27,581 26,368 25,664 78,926 75,280 
Other employee benefits6,073 7,162 6,276 20,335 19,232 
Net occupancy expense of premises3,173 3,108 3,065 9,851 9,761 
Furniture and fixture expense1,825 2,069 1,797 5,681 5,832 
Amortization of intangible assets97 84 86 265 242 
Other operating expense15,098 12,832 12,989 41,019 39,329 
Total Noninterest Expenses53,847 51,623 49,877 156,077 149,676 
Income Before Income Tax Expense31,105 28,239 24,527 85,144 67,243 
Income Tax Expense7,432 6,768 5,858 20,321 15,958 
Net Income Attributable to Noncontrolling Interests and Tompkins Financial Corporation23,673 21,471 18,669 64,823 51,285 
Less: Net Income Attributable to Noncontrolling Interests0 0 31 0 93 
Net Income Attributable to Tompkins Financial Corporation$23,673 21,471 18,638 64,823 51,192 
Basic Earnings Per Share$1.66 $1.51 $1.31 $4.55 $3.60 
Diluted Earnings Per Share$1.65 $1.50 $1.30 $4.52 $3.59 



Average Consolidated Statements of Condition and Net Interest Analysis (Unaudited)
Quarter EndedQuarter EndedQuarter Ended
September 30, 2025June 30, 2025September 30, 2024
(dollar amounts in thousands)Average
Balance
(QTD)		InterestAverage
Yield/Rate		Average
Balance
(QTD)		InterestAverage
Yield/Rate		Average
Balance
(QTD)		InterestAverage
Yield/Rate
ASSETS
Interest-earning assets
Interest-bearing balances due from banks$18,474 $187 4.02 %$15,820 $187 4.74 %$13,189 $168 5.07 %
Securities1
U.S. Government securities1,616,048 10,466 2.57 %1,610,090 10,026 2.50 %1,664,611 9,740 2.33 %
State and municipal2
82,462 541 2.60 %85,080 554 2.61 %87,799 560 2.54 %
Other Securities2
3,283 54 6.52 %3,279 53 6.48 %3,282 60 7.27 %
Total securities1,701,793 11,061 2.58 %1,698,449 10,633 2.51 %1,755,692 10,360 2.35 %
FHLBNY and FRB stock31,023 598 7.65 %31,660 635 8.05 %38,534 888 9.17 %
Total loans and leases, net of unearned income2,3
6,216,384 86,522 5.52 %6,129,561 82,499 5.40 %5,830,899 78,040 5.32 %
Total interest-earning assets7,967,674 98,368 4.90 %7,875,490 93,954 4.79 %7,638,314 89,456 4.66 %
Other assets329,774 293,105 276,610 
Total assets$8,297,448 $8,168,595 $7,914,924 
LIABILITIES & EQUITY
Deposits
Interest-bearing deposits
Interest bearing checking, savings, & money market$3,724,882 $17,306 1.84 %$3,680,761 $16,504 1.80 %$3,509,116 $16,635 1.89 %
Time deposits1,228,830 10,967 3.54 %1,230,182 10,975 3.58 %1,016,949 10,076 3.94 %
Total interest-bearing deposits4,953,712 28,273 2.26 %4,910,943 27,479 2.24 %4,526,065 26,711 2.35 %
Federal funds purchased & securities sold under agreements to repurchase41,524 23 0.22 %42,123 61 0.58 %42,449 11 0.10 %
Other borrowings535,327 5,882 4.36 %550,558 5,976 4.35 %709,474 9,214 5.17 %
Total interest-bearing liabilities5,530,563 34,178 2.45 %5,503,624 33,516 2.44 %5,277,988 35,936 2.71 %
Noninterest bearing deposits1,892,896 1,818,922 1,838,725 
Accrued expenses and other liabilities102,462 96,074 101,679 
Total liabilities7,525,921 7,418,620 7,218,392 
Tompkins Financial Corporation Shareholders’ equity771,527 749,975 695,057 
Noncontrolling interest0 0 1,475 
Total equity771,527 749,975 696,532 
Total liabilities and equity$8,297,448 $8,168,595 $7,914,924 
Interest rate spread2.45 %2.34 %1.95 %
Tax-equivalent net interest income/margin on earning assets64,190 3.20 %60,438 3.08 %53,520 2.79 %
Tax-equivalent adjustment(312)(308)(327)
Net interest income$63,878 $60,130 $53,193 




Average Consolidated Statements of Condition and Net Interest Analysis (Unaudited)
Year to Date Period EndedYear to Date Period Ended
September 30, 2025September 30, 2024
AverageAverage
BalanceAverageBalanceAverage
(Dollar amounts in thousands)(YTD)InterestYield/Rate(YTD)InterestYield/Rate
ASSETS
Interest-earning assets
Interest-bearing balances due from banks$16,914 $549 4.34 %$12,369 $506 5.46 %
Securities1
U.S. Government securities1,608,371 29,933 2.49 %1,712,727 30,109 2.35 %
State and municipal2
84,466 1,649 2.61 %89,063 1,697 2.55 %
Other securities3,279 160 6.52 %3,273 179 7.31 %
Total securities1,696,116 31,742 2.50 %1,805,063 31,985 2.37 %
FHLBNY and FRB stock31,552 1,944 8.24 %36,948 2,309 8.35 %
Total loans and leases, net of unearned income2,3
6,124,468 247,859 5.41 %5,713,780 223,656 5.23 %
Total interest-earning assets7,869,050 282,094 4.79 %7,568,160 258,456 4.56 %
Other assets306,039 274,143 
Total assets$8,175,089 $7,842,303 
LIABILITIES & EQUITY
Deposits
Interest-bearing deposits
Interest bearing checking, savings, & money market3,696,142 49,903 1.81 %3,517,993 47,424 1.80 %
Time deposits1,206,273 32,499 3.60 %997,800 29,005 3.88 %
Total interest-bearing deposits4,902,415 82,402 2.25 %4,515,793 76,429 2.26 %
Federal funds purchased & securities sold under agreements to repurchase43,744 125 0.38 %43,837 35 0.11 %
Other borrowings549,192 17,967 4.37 %673,809 26,267 5.21 %
Total interest-bearing liabilities5,495,351 100,494 2.45 %5,233,439 102,731 2.62 %
Noninterest bearing deposits1,830,755 1,835,776 
Accrued expenses and other liabilities98,953 97,593 
Total liabilities7,425,059 7,166,808 
Tompkins Financial Corporation Shareholders’ equity750,030 674,048 
Noncontrolling interest0 1,447 
Total equity750,030 675,495 
Total liabilities and equity$8,175,089 $7,842,303 
Interest rate spread2.35 %1.94 %
Net interest income (TE)/margin on earning assets181,600 3.09 %155,725 2.75 %
Tax Equivalent Adjustment(930)(904)
Net interest income$180,670 $154,821 


Tompkins Financial Corporation - Summary Financial Data (Unaudited)
(In thousands, except per share data)
Quarter-EndedYear-Ended
Period End Balance SheetSep-25Jun-25Mar-25Dec-24Sep-24Dec-24
Securities$1,604,357 $1,588,647 $1,572,602 $1,544,762 $1,622,526 $1,544,762 
Total Loans6,288,071 6,172,654 6,066,645 6,019,922 5,881,261 6,019,922 
Allowance for credit losses59,889 58,555 61,023 56,496 55,384 56,496 
Total assets8,468,731 8,373,818 8,199,653 8,109,080 8,006,427 8,109,080 
Total deposits7,053,070 6,715,795 6,753,502 6,471,805 6,577,896 6,471,805 
Brokered deposits145,223 138,787 99,763 0 20,383 0 
Federal funds purchased and securities sold under agreements to repurchase80,804 127,111 122,985 37,036 67,506 37,036 
Other borrowings444,866 672,696 493,247 790,247 539,327 790,247 
Total common equity788,805 761,793 741,377 713,444 719,855 713,444 
Total equity788,805 761,793 741,377 713,444 721,348 713,444 

Average Balance Sheet
Average earning assets$7,967,674 $7,875,490 $7,761,723 $7,691,242 $7,638,314 $7,599,098 
Average assets8,297,448 8,168,595 8,056,578 7,973,732 7,914,924 7,875,339 
Average interest-bearing liabilities5,530,563 5,503,624 5,450,993 5,311,044 5,277,988 5,252,947 
Average equity771,527 749,975 728,110 716,546 696,532 685,814 
Share data
Weighted average shares outstanding (basic)14,248,533 14,246,395 14,246,140 14,230,297 14,215,607 14,218,106 
Weighted average shares outstanding (diluted)14,345,219 14,320,125 14,319,440 14,312,497 14,283,255 14,268,443 
Period-end shares outstanding14,431,300 14,430,985 14,433,873 14,436,363 14,394,255 14,436,363 
Common equity book value per share$54.66 $52.79 $51.36 $49.42 $50.01 $49.42 
Tangible book value per share (Non-GAAP)**$48.19 $46.31 $44.88 $42.93 $43.50 $42.93 
**See "Non-GAAP measures" below for a discussion of non-GAAP financial measures and a reconciliation of non-GAAP financial measures to the most directly comparable financial measures presented in accordance with GAAP.
Income Statement
Net interest income$63,878 $60,130 $56,662 $56,281 $53,193 $211,102 
Provision for credit loss expense2,490 2,780 5,287 1,411 2,174 6,611 
Noninterest income23,564 22,512 25,032 20,829 23,385 88,127 
Noninterest expense53,847 51,623 50,607 49,966 49,877 199,642 
Income tax expense7,432 6,768 6,121 6,045 5,858 22,003 
Net income attributable to Tompkins Financial Corporation23,673 21,471 19,679 19,658 18,638 70,850 
Noncontrolling interests0 0 0 30 31 123 
Basic earnings per share4
1.66 1.51 1.38 1.38 1.31 4.98 
Diluted earnings per share4
1.65 1.50 1.37 1.37 1.30 4.97 
Nonperforming Assets
Nonaccrual loans and leases$52,805 $52,325 $70,891 $50,548 $62,381 $50,548 
Loans and leases 90 days past due and accruing166 166 187 323 193 323 
Total nonperforming loans and leases52,971 52,491 71,078 50,871 62,574 50,871 
OREO0 81 81 14,314 81 14,314 
Total nonperforming assets$52,971 $52,572 $71,159 $65,185 $62,655 $65,185 


Tompkins Financial Corporation - Summary Financial Data (Unaudited) - continued
Quarter-EndedYear-Ended
Delinquency - Total loan and lease portfolioSep-25Jun-25Mar-25Dec-24Sep-24Dec-24
Loans and leases 30-89 days past due and
accruing$7,841 $5,857 $12,285 $28,828 $7,031 $28,828 
Loans and leases 90 days past due and accruing166 166 187 323 193 323 
Total loans and leases past due and accruing8,007 6,023 12,472 29,151 7,224 29,151 

Allowance for Credit Losses
Balance at beginning of period$58,555 $61,023 $56,496 $55,384 $53,059 $51,584 
Provision for credit losses2,454 2,786 5,260 1,969 3,237 $7,418 
Net loan and lease charge-offs (recoveries) 1,120 5,254 733 857 912 $2,506 
Allowance for credit losses at end of period$59,889 $58,555 $61,023 $56,496 $55,384 $56,496 
Allowance for Credit Losses - Off-Balance Sheet Exposure
Balance at beginning of period$1,484 $1,490 $1,463 $2,021 $3,084 $2,270 
Provision (credit) for credit losses36 (6)27 (558)(1,063)$(807)
Allowance for credit losses at end of period$1,520 $1,484 $1,490 $1,463 $2,021 $1,463 
Loan Classification - Total Portfolio
Special Mention$88,398 $40,048 $34,790 $36,923 $58,758 $36,923 
Substandard55,762 56,740 75,980 74,163 67,261 74,163 

Ratio Analysis
Credit Quality
Nonperforming loans and leases/total loans and leases0.84 %0.85 %1.17 %0.85 %1.06 %0.85 %
Nonperforming assets/total assets0.63 %0.63 %0.87 %0.80 %0.78 %0.80 %
Allowance for credit losses/total loans and leases0.95 %0.95 %1.01 %0.94 %0.94 %0.94 %
Allowance/nonperforming loans and leases113.06 %111.55 %85.85 %111.06 %88.51 %111.06 %
Net loan and lease losses (recoveries) annualized/total average loans and leases0.07 %0.34 %0.05 %0.06 %0.06 %0.04 %
Capital Adequacy
Tier 1 Capital (to average assets)9.41 %9.36 %9.31 %9.27 %9.19 %9.27 %
Total Capital (to risk-weighted assets)13.27 %13.15 %13.28 %13.07 %13.21 %13.07 %
Profitability (period-end)
Return on average assets *1.13 %1.05 %0.99 %0.98 %0.94 %0.90 %
Return on average equity *12.17 %11.48 %10.96 %10.91 %10.65 %10.33 %
Net interest margin (TE) *3.20 %3.08 %2.98 %2.93 %2.79 %2.79 %
Average yield on interest-earning assets*4.90 %4.79 %4.69 %4.67 %4.66 %4.59 %
Average cost of deposits*1.64 %1.64 %1.63 %1.67 %1.67 %1.62 %
Average cost of funds*1.83 %1.84 %1.84 %1.88 %2.01 %1.92 %
* Quarterly ratios have been annualized








Tompkins Financial Corporation - Summary Financial Data (Unaudited) - continued

Non-GAAP Measures
This press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles (GAAP). Where non-GAAP disclosures are used in this press release, the comparable GAAP measure, as well as reconciliation to the comparable GAAP measure, is provided in the below table. The Company believes the non-GAAP measures provide meaningful comparisons of our underlying operational performance and facilitate management's and investors' assessments of business and performance trends in comparison to others in the financial services industry. These non-GAAP financial measures should not be considered in isolation or as a measure of the Company's profitability or liquidity; they are in addition to, and are not a substitute for, financial measures under GAAP. The non-GAAP financial measures presented herein may be different from non-GAAP financial measures used by other companies, and may not be comparable to similarly titled measures reported by other companies. Further, the Company may utilize other measures to illustrate performance in the future. Non-GAAP financial measures have limitations since they do not reflect all of the amounts associated with the Company's results of operations as determined in accordance with GAAP.

Reconciliation of Tangible Book Value Per Share (non-GAAP) to Common Equity Book Value Per Share (GAAP)
Quarter-EndedYear-Ended
Sep-25Jun-25Mar-25Dec-24Sep-24Dec-24
Common equity book value per share (GAAP)$54.66 $52.79 $51.36 $49.42 $50.01 $49.42 
Total common equity$788,805 $761,793 $741,377 $713,444 $719,855 $713,444 
Less: Goodwill and intangibles93,40593,50393,58693,67093,76093,670 
Tangible common equity (Non-GAAP)695,400 668,290 647,791 619,774 626,095 619,774 
Ending shares outstanding14,431,300 14,430,985 14,433,873 14,436,363 14,394,255 14,436,363 
Tangible book value per share (Non-GAAP)$48.19 $46.31 $44.88 $42.93 $43.50 $42.93 

1 Average balances and yields on available-for-sale securities are based on historical amortized cost.
2 Interest income includes the tax effects of taxable-equivalent adjustments using an effective income tax rate of 21% in 2025 and 2024 to increase tax exempt interest income to taxable-equivalent basis.
3 Nonaccrual loans are included in the average asset totals presented above. Payments received on nonaccrual loans have been recognized as disclosed in Note 1 of the Company's consolidated financial statements included in Part I of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024.
4 Earnings per share for the full fiscal year may not equal the sum of the quarterly earnings per share as a result of rounding of average shares.