Tompkins Financial Corp Files Q2 2024 10-Q

TL;DR

**TOMPKINS FINANCIAL CORP (TMP) FILED Q2 2024 10-Q. FINANCIALS DETAILED.**

AI Summary

Tompkins Financial Corp filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position, including its assets, liabilities, and equity. Specific financial figures and operational details for the second quarter of 2024 are presented within the report.

Why It Matters

This filing provides investors and analysts with a detailed look at Tompkins Financial Corp's financial health and operational performance during the second quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not inherently present new risks.

Key Players & Entities

• TOMPKINS FINANCIAL CORP (company) — Filer
• 0001005817-24-000022 (filing_id) — Accession Number
• 20240630 (date) — Period of Report
• 20240808 (date) — Filed as of Date
• 118 E SENECA STREET (address) — Business Address
• ITHACA (city) — Business Address City
• NY (state) — Business Address State
• 14850 (zip_code) — Business Address Zip
• 607-274-2078 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.10 — ange on which registered Common Stock, $0.10 par value TMP NYSE American, LLC Indi
• $250,000 — PENSE Time certificates of deposits of $250,000 or more 4,048 2,526 8,058 4,313 Other

Filing Documents

• tmp-20240630.htm (10-Q) — 3877KB
• tmp2024-06x30ex101.htm (EX-10.1) — 129KB
• tmp2024-06x30ex311.htm (EX-31.1) — 12KB
• tmp2024-06x30ex312.htm (EX-31.2) — 11KB
• tmp2024-06x30ex321.htm (EX-32.1) — 6KB
• tmp2024-06x30ex322.htm (EX-32.2) — 6KB
• image_0.jpg (GRAPHIC) — 1KB
• tmp-20240630_g1.jpg (GRAPHIC) — 752KB
• 0001005817-24-000022.txt ( ) — 21075KB
• tmp-20240630.xsd (EX-101.SCH) — 56KB
• tmp-20240630_cal.xml (EX-101.CAL) — 143KB
• tmp-20240630_def.xml (EX-101.DEF) — 385KB
• tmp-20240630_lab.xml (EX-101.LAB) — 824KB
• tmp-20240630_pre.xml (EX-101.PRE) — 641KB
• tmp-20240630_htm.xml (XML) — 5136KB

-FINANCIAL INFORMATION

PART I -FINANCIAL INFORMATION PAGE Item 1 –

Financial Statements

Financial Statements Consolidated Statements of Condition as of June 30, 202 4 (Unaudited) and December 31, 202 3 (Audited) 1 Consolidated Statements of Income for the three and six months ended June 30, 202 4 and 202 3 (Unaudited) 2 Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 202 4 and 202 3 (Unaudited) 3 Consolidated Statements of Cash Flows for the six months ended June 30, 202 4 and 202 3 (Unaudited) 4 Consolidated Statements of Changes in Shareholders' Equity for the three and six months ended June 30, 202 4 and 202 3 (Unaudited) 6 Notes to Unaudited Consolidated Financial Statements 8 Item 2 -

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 48 Item 3 -

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 67 Item 4 -

Controls and Procedures

Controls and Procedures 68

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1 –

Legal Proceedings

Legal Proceedings 68

– Risk Factors

Item 1A – Risk Factors 68 Item 2 – Unregistered Sales of Equity Securities, and Use of Proceeds 69 Item 3 - Defaults Upon Senior Securities 69 Item 4 - Mine Safety Disclosures 69 Item 5 - Other Information 69 Item 6 - Exhibits 70

Financial Statements

Item 1. Financial Statements TOMPKINS FINANCIAL CORPORATION CONSOLIDATED STATEMENTS OF CONDITION (In thousands, except share and per share data) (Unaudited) As of As of ASSETS 06/30/2024 12/31/2023 (unaudited) (audited) Cash and noninterest bearing balances due from banks $ 60,337 $ 67,212 Interest bearing balances due from banks 10,578 12,330 Cash and Cash Equivalents 70,915 79,542 Available-for-sale debt securities, at fair value (amortized cost of $ 1,463,965 at June 30, 2024 and $ 1,548,482 at December 31, 2023) 1,317,458 1,416,650 Held-to-maturity debt securities, at amortized cost (fair value of $ 264,588 at June 30, 2024 and $ 267,455 December 31, 2023) 312,430 312,401 Equity securities, at fair value (amortized cost $ 766 at June 30, 2024 and $ 787 at December 31, 2023) 766 787 Total loans and leases, net of unearned income and deferred costs and fees 5,761,864 5,605,935 Less: Allowance for credit losses 53,059 51,584 Net Loans and Leases 5,708,805 5,554,351 Federal Home Loan Bank and other stock 41,382 33,719 Bank premises and equipment, net 77,279 79,687 Corporate owned life insurance 75,453 67,884 Goodwill 92,602 92,602 Other intangible assets, net 2,193 2,327 Accrued interest and other assets 170,239 179,799 Total Assets 7,869,522 7,819,749 LIABILITIES Deposits: Interest bearing: Checking, savings and money market 3,453,049 3,484,878 Time 979,292 998,013 Noninterest bearing 1,853,555 1,916,956 Total Deposits 6,285,896 6,399,847 Federal funds purchased and securities sold under agreements to repurchase 35,989 50,996 Other borrowings 773,627 602,100 Other liabilities 97,917 96,872 Total Liabilities 7,193,429 7,149,815 EQUITY Tompkins Financial Corporation shareholders' equity: Common Stock - par value $ 0.10 per share: Authorized 25,000,000 shares; Issued: 14,429,124 at June 30, 2024; and 14,441,830 at December 31, 2023 1,443 1,444 Additional paid-in capital 298,647 297,183 Retained earnings 516,566 501,510

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View this 10-Q filing on SEC EDGAR