TMP 8-K

Tompkins Financial Corp (TMP)

8-K 2026-01-30 For: 2026-01-29

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Added on April 04, 2026

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New York	1-12709	16-1482357
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.10 par value	TMP	NYSE American, LLC


			(a)			Not applicable.
			(b)			Not applicable.
			(c)			Not applicable.
			(d)			Exhibits.


TOMPKINS FINANCIAL CORPORATION
CONSOLIDATED STATEMENTS OF CONDITION
(In thousands, except share and per share data) (Unaudited)	As of		As of
ASSETS	12/31/2025		12/31/2024
			(Audited)

Cash and noninterest bearing balances due from banks	$	50,717	$	53,635
Interest bearing balances due from banks	82,100		80,763
Cash and Cash Equivalents	132,817		134,398

Available-for-sale debt securities, at fair value (amortized cost of $1,391,379 at December 31, 2025 and $1,367,123 at December 31, 2024)	1,382,068		1,231,532
Held-to-maturity debt securities, at amortized cost (fair value of $283,860 at December 31, 2025 and $267,295 at December 31, 2024)	312,528		312,462
Equity securities, at fair value	800		768
Loans held for sale	43,440		0
Total loans and leases, net of unearned income and deferred costs and fees	6,446,245		6,019,922
Less: Allowance for credit losses	57,671		56,496
Net Loans and Leases	6,388,574		5,963,426

Federal Home Loan Bank and other stock	32,307		42,255
Bank premises and equipment, net	72,418		76,627
Corporate owned life insurance	77,843		76,448
Goodwill	72,736		92,602
Other intangible assets, net	1,687		2,203
Accrued interest and other assets	151,050		176,359
Total Assets	$	8,668,268	$	8,109,080
LIABILITIES
Deposits:
Interest bearing:
Checking, savings and money market	3,742,402		3,558,946
Time	1,298,393		1,068,375
Noninterest bearing	1,896,967		1,844,484
Total Deposits	6,937,762		6,471,805

Federal funds purchased and securities sold under agreements to repurchase	95,569		37,036
Other borrowings	564,446		790,247

Other liabilities	132,114		96,548
Total Liabilities	$	7,729,891	$	7,395,636
EQUITY
Tompkins Financial Corporation shareholders' equity:
Common Stock - par value $.10 per share: Authorized 25,000,000 shares; Issued: 14,449,845 at December 31, 2025; and 14,468,013 at December 31, 2024	1,446		1,447
Additional paid-in capital	299,206		300,073
Retained earnings	662,161		537,157
Accumulated other comprehensive loss	(19,054)		(118,492)
Treasury stock, at cost – 104,492 shares at December 31, 2025, and 131,497 shares at December 31, 2024	(5,382)		(6,741)


Total Equity	$	938,377	$	713,444
Total Liabilities and Equity	$	8,668,268	$	8,109,080


TOMPKINS FINANCIAL CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data) (Unaudited)	Three Months Ended						Year Ended
	12/31/2025		09/30/2025		12/31/2024		12/31/2025		12/31/2024
INTEREST AND DIVIDEND INCOME
Loans	$	87,372	$	86,309	$	78,911	$	334,604	$	301,970
Due from banks	211		187		235		760		741
Available-for-sale debt securities	11,509		9,738		8,760		39,287		36,779
Held-to-maturity debt securities	1,225		1,224		1,222		4,886		4,881
Federal Home Loan Bank and other stock	593		598		894		2,537		3,203
Total Interest and Dividend Income	100,910		$	98,056	$	90,022	$	382,074	$	347,574
INTEREST EXPENSE
Time certificates of deposits of $250,000 or more	4,527		4,063		4,698		17,237		16,914
Other deposits	23,318		24,210		22,856		93,010		87,069

Federal funds purchased and securities sold under agreements to repurchase	21		23		11		146		46

Other borrowings	3,983		5,882		6,176		21,950		32,443
Total Interest Expense	31,849		34,178		33,741		132,343		136,472
Net Interest Income	69,061		63,878		56,281		249,731		211,102
Less: Provision for credit loss expense	977		2,490		1,411		11,534		6,611
Net Interest Income After Provision for Credit Loss Expense	68,084		61,388		54,870		238,197		204,491
NONINTEREST INCOME
Insurance commissions and fees	3,079		11,282		8,471		35,569		39,100
Wealth management fees	5,053		4,979		4,878		20,115		19,589
Service charges on deposit accounts	1,819		1,844		1,854		7,258		7,288
Card services income	2,835		2,891		2,919		11,502		12,057
Gain on sale of TIA	188,241		0		0		188,241		0
Other income	3,451		2,557		2,740		12,875		10,061
Net gain (loss) on securities transactions	(78,715)		11		(33)		(78,689)		32
Total Noninterest Income	125,763		23,564		20,829		196,871		88,127
NONINTEREST EXPENSE
Salaries and wages	29,630		27,581		25,870		108,556		101,150
Other employee benefits	6,642		6,073		7,429		26,977		26,661
Net occupancy expense of premises	3,102		3,173		2,873		12,953		12,634
Furniture and fixture expense	1,795		1,825		1,834		7,476		7,666
Amortization of intangible assets	27		97		90		292		332
Other operating expense	12,939		15,098		11,870		53,958		51,199
Total Noninterest Expenses	54,135		53,847		49,966		210,212		199,642
Income Before Income Tax Expense	139,712		31,105		25,733		224,856		92,976
Income Tax Expense	43,464		7,432		6,045		63,785		22,003
Net Income Attributable to Noncontrolling Interests and Tompkins Financial Corporation	96,248		23,673		19,688		161,071		70,973
Less: Net Income Attributable to Noncontrolling Interests	0		0		30		0		123
Net Income Attributable to Tompkins Financial Corporation	$	96,248	23,673		19,658		161,071		70,850
Basic Earnings Per Share	$	6.74	$	1.66	$	1.38	$	11.30	$	4.98
Diluted Earnings Per Share	$	6.70	$	1.65	$	1.37	$	11.24	$	4.97


Date of Report (Date of earliest event reported)			January 29, 2026


Registrant’s telephone number, including area code			(888)			503-5753



(Former name or former address, if changed since last report.)


Average Consolidated Statements of Condition and Net Interest Analysis (Unaudited)
	Quarter Ended						Quarter Ended						Quarter Ended
	December 31, 2025						September 30, 2025						December 31, 2024
(dollar amounts in thousands)	Average Balance (QTD)		Interest		Average Yield/Rate		Average Balance (QTD)		Interest		Average Yield/Rate		Average Balance (QTD)		Interest		Average Yield/Rate
ASSETS
Interest-earning assets
Interest-bearing balances due from banks	$	17,795	$	211	4.70	%	$	18,474	$	187	4.02	%	$	19,065	$	235	4.90	%
Securities1
U.S. Government securities	1,595,043		12,244		3.04	%	1,616,048		10,466		2.57	%	1,619,973		9,471		2.33	%

State and municipal2	81,613		537		2.61	%	82,462		541		2.60	%	86,481		557		2.56	%
Other Securities2	3,298		52		6.25	%	3,283		54		6.52	%	3,287		55		6.66	%
Total securities	1,679,954		12,833		3.03	%	1,701,793		11,061		2.58	%	1,709,741		10,083		2.35	%
FHLBNY and FRB stock	24,113		593		9.76	%	31,023		598		7.65	%	30,665		894		11.60	%
Total loans and leases, net of unearned income2,3	6,336,565		87,612		5.48	%	6,216,384		86,522		5.52	%	5,931,771		79,126		5.31	%
Total interest-earning assets	8,058,427		101,249		4.98	%	7,967,674		98,368		4.90	%	7,691,242		90,338		4.67	%
Other assets	313,860						329,774						282,490
Total assets	$	8,372,287					$	8,297,448					$	7,973,732
LIABILITIES & EQUITY
Deposits
Interest-bearing deposits
Interest bearing checking, savings, & money market	$	3,779,290	$	16,695	1.75	%	$	3,724,882	$	17,306	1.84	%	$	3,661,006	$	17,223	1.87	%
Time deposits	1,282,009		11,150		3.45	%	1,228,830		10,967		3.54	%	1,076,300		10,331		3.82	%
Total interest-bearing deposits	5,061,299		27,845		2.18	%	4,953,712		28,273		2.26	%	4,737,306		27,554		2.31	%
Federal funds purchased & securities sold under agreements to repurchase	42,221		21		0.20	%	41,524		23		0.22	%	39,519		11		0.11	%
Other borrowings	380,920		3,983		4.15	%	535,327		5,882		4.36	%	534,219		6,176		4.60	%

Total interest-bearing liabilities	5,484,440		31,849		2.30	%	5,530,563		34,178		2.45	%	5,311,044		33,741		2.53	%
Noninterest bearing deposits	1,911,583						1,892,896						1,844,772
Accrued expenses and other liabilities	100,606						102,462						101,370
Total liabilities	7,496,629						7,525,921						7,257,186
Tompkins Financial Corporation Shareholders’ equity	875,658						771,527						715,299
Noncontrolling interest	0						0						1,247
Total equity	875,658						771,527						716,546
Total liabilities and equity	$	8,372,287					$	8,297,448					$	7,973,732
Interest rate spread					2.68	%					2.45	%					2.15	%
Tax-equivalent net interest income/margin on earning assets			69,400		3.42	%			64,190		3.20	%			56,597		2.93	%
Tax-equivalent adjustment			(339)						(312)						(316)
Net interest income			$	69,061					$	63,878					$	56,281


Average Consolidated Statements of Condition and Net Interest Analysis (Unaudited)
	Year to Date Period Ended						Year to Date Period Ended
	December 31, 2025						December 31, 2024
	Average						Average
	Balance				Average		Balance				Average
(Dollar amounts in thousands)	(YTD)		Interest		Yield/Rate		(YTD)		Interest		Yield/Rate
ASSETS
Interest-earning assets
Interest-bearing balances due from banks	$	17,136	$	760	4.44	%	$	14,052	$	741	5.27	%
Securities1
U.S. Government securities	1,605,011		42,177		2.63	%	1,689,411		39,580		2.34	%

State and municipal2	83,747		2,185		2.61	%	88,414		2,254		2.55	%
Other securities	3,284		213		6.49	%	3,277		235		7.17	%
Total securities	1,692,042		44,575		2.63	%	1,781,102		42,069		2.36	%
FHLBNY and FRB stock	29,677		2,537		8.55	%	35,369		3,203		9.06	%
Total loans and leases, net of unearned income2,3	6,177,928		335,471		5.43	%	5,768,575		302,780		5.25	%
Total interest-earning assets	7,916,783		383,343		4.84	%	7,599,098		348,793		4.59	%
Other assets	308,011						276,241
Total assets	$	8,224,794					$	7,875,339
LIABILITIES & EQUITY
Deposits
Interest-bearing deposits
Interest bearing checking, savings, & money market	3,717,100		66,597		1.79	%	3,553,942		64,647		1.82	%
Time deposits	1,225,363		43,650		3.56	%	1,017,532		39,336		3.87	%
Total interest-bearing deposits	4,942,463		110,247		2.23	%	4,571,474		103,983		2.27	%
Federal funds purchased & securities sold under agreements to repurchase	43,360		146		0.34	%	42,752		46		0.11	%
Other borrowings	506,778		21,950		4.33	%	638,721		32,443		5.08	%

Total interest-bearing liabilities	5,492,601		132,343		2.41	%	5,252,947		136,472		2.60	%
Noninterest bearing deposits	1,851,128						1,838,036
Accrued expenses and other liabilities	99,370						98,542
Total liabilities	7,443,099						7,189,525
Tompkins Financial Corporation Shareholders’ equity	781,695						684,417
Noncontrolling interest	0						1,397
Total equity	781,695						685,814

Total liabilities and equity	$	8,224,794					$	7,875,339
Interest rate spread					2.43	%					1.99	%
Net interest income (TE)/margin on earning assets			251,000		3.17	%			212,321		2.79	%

Tax Equivalent Adjustment			(1,269)						(1,219)
Net interest income			$	249,731					$	211,102


(In thousands, except per share data)
	Quarter-Ended										Year-Ended
Period End Balance Sheet	Dec-25		Sep-25		Jun-25		Mar-25		Dec-24		Dec-25
Securities	$	1,695,396	$	1,604,357	$	1,588,647	$	1,572,602	$	1,544,762	$	1,695,396
Total Loans	6,446,245		6,288,071		6,172,654		6,066,645		6,019,922		6,446,245
Allowance for credit losses	57,671		59,889		58,555		61,023		56,496		57,671
Total assets	8,668,268		8,468,731		8,373,818		8,199,653		8,109,080		8,668,268
Total deposits	6,937,762		7,053,070		6,715,795		6,753,502		6,471,805		6,937,762
Brokered deposits	114,391		145,223		138,787		99,763		0		114,391
Federal funds purchased and securities sold under agreements to repurchase	95,569		80,804		127,111		122,985		37,036		95,569
Other borrowings	564,446		444,866		672,696		493,247		790,247		564,446


Total equity	938,377		788,805		761,793		741,377		713,444		938,377


Average Balance Sheet
Average earning assets	$	8,058,427	$	7,967,674	$	7,875,490	$	7,761,723	$	7,691,242	$	7,916,783
Average assets	8,372,287		8,297,448		8,168,595		8,056,578		7,973,732		8,224,794
Average interest-bearing liabilities	5,484,440		5,530,563		5,503,624		5,450,993		5,311,044		5,492,601
Average equity	875,658		771,527		749,975		728,110		716,546		781,695


Share data
Weighted average shares outstanding (basic)	14,270,206		14,248,533		14,246,395		14,246,140		14,230,297		14,252,810
Weighted average shares outstanding (diluted)	14,356,680		14,345,219		14,320,125		14,319,440		14,312,497		14,335,358
Period-end shares outstanding	14,420,495		14,431,300		14,430,985		14,433,873		14,436,363		14,420,495
Common equity book value per share	$	65.07	$	54.66	$	52.79	$	51.36	$	49.42	$	65.07
Tangible book value per share (Non-GAAP)**	$	60.03	$	48.19	$	46.31	$	44.88	$	42.93	$	60.03
**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	$	69,061	$	63,878	$	60,130	$	56,662	$	56,281	$	249,731
Provision for credit loss expense	977		2,490		2,780		5,287		1,411		11,534
Noninterest income	125,763		23,564		22,512		25,032		20,829		196,871
Noninterest expense	54,135		53,847		51,623		50,607		49,966		210,212
Income tax expense	43,464		7,432		6,768		6,121		6,045		63,785
Net income attributable to Tompkins Financial Corporation	96,248		23,673		21,471		19,679		19,658		161,071
Noncontrolling interests	0		0		0		0		30		0
Basic earnings per share4	6.74		1.66		1.51		1.38		1.38		11.30
Diluted earnings per share4	6.70		1.65		1.50		1.37		1.37		11.24


Nonperforming Assets
Nonaccrual loans and leases	$	47,794	$	52,805	$	52,325	$	70,891	$	50,548	$	47,794
Loans and leases 90 days past due and accruing	146		166		166		187		323		146

Total nonperforming loans and leases	47,940		52,971		52,491		71,078		50,871		47,940
OREO	229		0		81		81		14,314		229
Total nonperforming assets	$	48,169	$	52,971	$	52,572	$	71,159	$	65,185	$	48,169


(Exact name of registrant as specified in its charter)


Allowance for Credit Losses
Balance at beginning of period	$	59,889	$	58,555	$	61,023	$	56,496	$	55,384	$	56,496

Provision for credit losses	1,064		2,454		2,786		5,260		1,969		$	11,564
Net loan and lease charge-offs (recoveries)	3,282		1,120		5,254		733		857		$	10,389
Allowance for credit losses at end of period	$	57,671	$	59,889	$	58,555	$	61,023	$	56,496	$	57,671

Allowance for Credit Losses - Off-Balance Sheet Exposure
Balance at beginning of period	$	1,520	$	1,484	$	1,490	$	1,463	$	2,021	$	1,463
Provision (credit) for credit losses	(87)		36		(6)		27		(558)		$	(30)
Allowance for credit losses at end of period	$	1,433	$	1,520	$	1,484	$	1,490	$	1,463	$	1,433


Loan Classification - Total Portfolio
Special Mention	$	100,717	$	88,398	$	40,048	$	34,790	$	36,923	$	100,717
Substandard	33,764		55,762		56,740		75,980		74,163		33,764


Credit Quality
Nonperforming loans and leases/total loans and leases	0.74	%	0.84	%	0.85	%	1.17	%	0.85	%	0.74	%
Nonperforming assets/total assets	0.56	%	0.63	%	0.63	%	0.87	%	0.80	%	0.56	%
Allowance for credit losses/total loans and leases	0.89	%	0.95	%	0.95	%	1.01	%	0.94	%	0.89	%
Allowance/nonperforming loans and leases	120.30	%	113.06	%	111.55	%	85.85	%	111.06	%	120.30	%
Net loan and lease losses (recoveries) annualized/total average loans and leases	0.21	%	0.07	%	0.34	%	0.05	%	0.06	%	0.17	%


	Quarter-Ended										Year-Ended
Delinquency - Total loan and lease portfolio	Dec-25		Sep-25		Jun-25		Mar-25		Dec-24		Dec-25
Loans and leases 30-89 days past due and
accruing	$	8,806	$	7,841	$	5,857	$	12,285	$	28,828	$	8,806
Loans and leases 90 days past due and accruing	146		166		166		187		323		146
Total loans and leases past due and accruing	8,952		8,007		6,023		12,472		29,151		8,952


Capital Adequacy
Tier 1 Capital (to average assets)	10.62	%	9.41	%	9.36	%	9.31	%	9.27	%	10.62	%
Total Capital (to risk-weighted assets)	14.55	%	13.27	%	13.15	%	13.28	%	13.07	%	14.55	%


Profitability (period-end)
Return on average assets *	4.56	%	1.13	%	1.05	%	0.99	%	0.98	%	1.96	%
Return on average equity *	43.61	%	12.17	%	11.48	%	10.96	%	10.91	%	20.61	%
Net interest margin (TE) *	3.42	%	3.20	%	3.08	%	2.98	%	2.93	%	3.17	%
Average yield on interest-earning assets*	4.98	%	4.90	%	4.79	%	4.69	%	4.67	%	4.84	%
Average cost of deposits*	1.58	%	1.64	%	1.64	%	1.63	%	1.67	%	1.62	%
Average cost of funds*	1.71	%	1.83	%	1.84	%	1.84	%	1.88	%	1.80	%
* Quarterly ratios have been annualized


Reconciliation of Tangible Book Value Per Share (non-GAAP) to Common Equity Book Value Per Share (GAAP)
	Quarter-Ended										Year-Ended
	Dec-25		Sep-25		Jun-25		Mar-25		Dec-24		Dec-25
Common equity book value per share (GAAP)	$	65.07	$	54.66	$	52.79	$	51.36	$	49.42	$	65.07
Total common equity	$	938,377	$	788,805	$	761,793	$	741,377	$	713,444	$	938,377
Less: Goodwill and intangibles*	72,766		93,405		93,503		93,586		93,670		72,766
Tangible common equity (Non-GAAP)	865,611		695,400		668,290		647,791		619,774		865,611
Ending shares outstanding	14,420,495		14,431,300		14,430,985		14,433,873		14,436,363		14,420,495
Tangible book value per share (Non-GAAP)	$	60.03	$	48.19	$	46.31	$	44.88	$	42.93	$	60.03
*The decline in goodwill for the fourth quarter and full year 2025 over the prior periods shown in the table reflects the sale of TIA.


Reconciliation of Net Income Available to Common Shareholders/Diluted Earnings Per Share (GAAP) to Adjusted Net Operating Income Available to Common Shareholders/Adjusted Diluted Earnings Per Share (Non-GAAP); Return on Average Assets and Return on Average Equity (GAAP) to Adjusted Return on Average Assets, Adjusted Return on Average Equity and Adjusted Operating Return on Average Shareholders' Tangible Common Equity (Non-GAAP)
	QTD			QTD			YTD
(In thousands, except per share data)	12/31/2025			12/31/2024			12/31/2025			12/31/2024
Net income available to common shareholders	$	96,248		$	19,658		$	161,071		$	70,850
Less: income attributable to unvested stock-based compensation awards	0			0			0			0
Net earnings allocated to common shareholders (GAAP)	96,248			19,658			161,071			70,850
Diluted earnings per share (GAAP)	6.70			1.37			11.24			4.97
Adjustments for non-operating income and expense:

(Gain) loss on sale of investment securities	78,721			0			78,721			(50)
(Gain) from sale of Tompkins Insurance Agency, Inc.	(183,902)			0			(183,902)			0




Total adjustments	(105,181)			0			(105,181)			(50)
Tax expense	(34,509)			0			(34,509)			(12)
Total adjustments, net of tax	(70,672)			0			(70,672)			(38)
Adjusted net income or operating income (Non-GAAP)	25,576			19,658			90,399			70,812

Weighted average shares outstanding (basic)	14,270,206			14,230,297			14,252,810			14,218,106
Weighted average shares outstanding (diluted)	14,356,680			14,312,497			14,335,358			14,268,443
Adjusted/operating basic earnings per share (Non-GAAP)	1.79			1.38			6.34			4.98
Adjusted/operating diluted earnings per share (Non-GAAP)	1.78			1.37			6.31			4.96
Net income available to common shareholders	96,248			19,658			161,071			70,850
Adjusted net income or operating income (Non-GAAP)	25,576			19,658			90,399			70,812
Average total assets	8,372,287			7,973,732			8,224,794			7,875,339
Return on average assets	4.56		%	0.98		%	1.96		%	0.90		%
Adjusted return on average assets (Non-GAAP)	1.21		%	0.98		%	1.10		%	0.90		%
Net income available to common shareholders	96,248			19,658			161,071			70,850
Adjusted net income or operating income (Non-GAAP)	25,576			19,658			90,399			70,812
Average total equity	875,658			716,545			781,695			685,814
Return on average equity	43.61		%	10.88		%	20.61		%	10.33		%
Adjusted return on average equity (Non-GAAP)	11.59		%	10.88		%	11.56		%	10.33		%
Adjusted net income or operating income (Non-GAAP)	25,576			19,658			90,399			70,850
Average Tompkins Financial Corporation shareholders' equity	875,658			715,299			781,695			684,417
Amortization of intangibles	27			90			292			332
Tax expense	6			22			72			81
Amortization of intangibles, net of tax	21			68			220			251
Adjusted net income or operating income (Non-GAAP)	25,597			19,726			90,619			71,063
Average Tompkins Financial Corporation shareholders' equity	875,658			715,299			781,695			684,417
Average goodwill and intangibles	79,494			93,716			90,006			93,844
Average Tompkins Financial Corporation shareholders' tangible common equity (Non-GAAP)	$	796,164		$	621,583		$	691,689		$	590,573
Adjusted operating return on average shareholders' tangible common equity (Non-GAAP)	12.76		%	12.59		%	13.10		%	12.03		%