View on SEC.govFor more information contact:
Stephen S. Romaine, President & CEO Matthew Tomazin, Executive VP & CFO Tompkins Financial Corporation (888) 503-5753 For Immediate Release Friday, July 24, 2026 Tompkins Financial Corporation Reports Record Financial Results for Third Consecutive Quarter ITHACA, NY - Tompkins Financial Corporation (NYSE American: TMP) Tompkins Financial Corporation ("Tompkins" or the "Company") reported diluted earnings per share of $2.04 for the second quarter of 2026, up $0.54 or 36.0% compared to the second quarter of 2025 and up $0.22 per share or 12.1% compared to the first quarter of 2026. Net income for the second quarter of 2026 was $29.3 million, up $7.8 million or 36.5% from the second quarter of 2025, and up $3.2 million or 12.4% compared to the immediate prior quarter.
For the six months ended June 30, 2026, diluted earnings per share were $3.86, up 34.5% from the $2.87 reported for the six months ended June 30, 2025. Year-to-date net income was $55.4 million for the six months ended June 30, 2026, up $14.2 million or 34.6% when compared to $41.2 million for the same six month period in 2025.
Tompkins President and CEO, Stephen Romaine, commented, "We are pleased to report our third consecutive quarter of record earnings. Our improving profitability and healthy levels of loan and deposit growth over the past year continue to support momentum in our financial results. Given our strong results and strengthening capital position, we have approved an increase to our dividend, payable in the third quarter of 2026. This increase represents a 13% increase compared to the dividend paid in the third quarter of 2025."
SELECTED HIGHLIGHTS FOR THE PERIOD:
- Net interest margin was 3.58% in the second quarter of 2026, in line with the immediate prior quarter, and up 50 basis points from the second quarter of 2025.
- Period end total loans at June 30, 2026 were up $119.2 million, or 1.8% compared to March 31, 2026 (7.4% on an annualized basis), and up $424.5 million, or 6.9%, from June 30, 2025.
- Period end total deposits at June 30, 2026 were $7.0 billion, down $25.1 million, or 0.4% compared to the most recent prior quarter end, and up $313.3 million, or 4.7%, from June 30, 2025.
- Total average cost of funds of 1.68% for the second quarter of 2026 was in line with the first quarter of 2026, and down 16 basis points compared to the second quarter of 2025.
- Regulatory Tier 1 capital to average assets was 10.69% at June 30, 2026, up from 10.58% at March 31, 2026, and 9.36% at June 30, 2025.
NET INTEREST INCOME
Net interest income was $74.0 million for the second quarter of 2026, up $2.1 million or 3.0% compared to the first quarter of 2026, and up $13.9 million or 23.0% compared to the second quarter of 2025. For the six months ended June 30, 2026, net interest income was $145.8 million, up $29.1 million or 24.9% when compared to the same period in 2025. The increase in net interest income compared to both prior year periods was due to improvement in net interest margin, which is discussed below, and growth in average loans.
Net interest margin was 3.58% for the second quarter of 2026, remaining consistent with the prior quarter, as increased average earning asset yields were partially offset by higher cost of interest-bearing liabilities, driven by seasonal outflow of municipal deposits resulting in increased borrowings for the quarter. The net interest margin for the second quarter of 2026 increased from 3.08% for the second quarter of 2025. The increase in net interest margin when compared to the prior year quarter was mainly due to growth in average loan balances, improved yields on average earning assets, and lower funding costs. Average yield on securities for the second quarter of 2026 was up 101 basis points over the second quarter of 2025, and the average yield on interest earning assets was up 34 basis points compared to the second quarter of 2025.
Average loans for the quarter ended June 30, 2026 were up $90.4 million, or 1.4% (5.6% annualized), over the quarter ended March 31, 2026, and were up $395.7 million, or 6.5%, compared to the quarter ended June 30, 2025. 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 June 30, 2026 was 5.13%, an increase of 4 basis points from 5.09% for the quarter ended March 31, 2026, and up 34 basis points from 4.79% for the quarter ended June 30, 2025.
Average total deposits of $7.0 billion for the second quarter of 2026 were up $62.2 million or 0.9% compared to the first quarter of 2026, and up $297.3 million, or 4.4%, compared to the second quarter of 2025. The cost of interest-bearing deposits of 2.07% for the second quarter of 2026 was up 1 basis point over the most recent prior quarter, and down 17 basis points from the second quarter of 2025. The ratio of average noninterest bearing deposits to average total deposits for the second quarter of 2026 was 26.9%, which was generally unchanged from the first quarter of 2026 and the second quarter of 2025. The average cost of interest-bearing liabilities for the second quarter of 2026 was 2.24%, an increase of 3 basis points when compared to the most recent prior quarter, and down 20 basis points from the second quarter of 2025.
NONINTEREST INCOME
Noninterest income of $13.1 million for the second quarter of 2026 was down $9.4 million or 41.7%, from the second quarter of 2025. The decrease was primarily attributable to a $9.6 million decline in insurance revenue resulting from the sale of our insurance subsidiary, Tompkins Insurance Agencies, Inc. ("TIA"), in the fourth quarter of 2025. Partially offsetting this decline were increases in fee-based service income, including increases in wealth management fees of $265,000 or 5.3%, service charges on deposit accounts of $26,000 or 1.5%, and card service income of $146,000 or 4.6%. Year-to-date noninterest income of $25.0 million was down $22.6 million or 47.5% compared to the same period in 2025. Contributing to the year-over-year decrease was a $21.2 million decline in insurance revenue due to the sale of TIA, and a $1.9 million, or 28.2% decrease in other income, primarily related to a gain on the sale of other real estate owned in the first quarter of 2025. Partially offsetting this decline were increases in fee-based service income, including increases in wealth management fees of $412,000 or 4.1%, service charges on deposit accounts of $16,000 or 0.5%, and card service income of $162,000 or 2.8%.
NONINTEREST EXPENSE
Noninterest expense was $47.1 million for the second quarter of 2026, down $4.6 million or 8.8% compared to the second quarter of 2025. For the six months ended June 30, 2026, noninterest expense totaled $94.8 million, down $7.4 million, or 7.3%, from the same period in 2025.
The decrease in noninterest expense for both periods was primarily attributable to the sale of TIA in the fourth quarter of 2025. The second quarter and year-to-date periods in 2025 included TIA-related salaries and wages and other employee benefits expenses of $6.2 million and $12.1 million, respectively; and other noninterest expenses of $1.5 million and $2.9 million, respectively. For the three and six months ended June 30, 2026, salaries and wages and other employee benefits decreased $4.7 million, or 14.0%, and $8.0 million, or 12.2%, respectively. These decreases were partially offset by annual merit increases and higher other employee benefit costs.
INCOME TAX EXPENSE
Provision for income tax expense was $9.2 million for an effective rate of 24.0% for the second quarter of 2026, compared to $8.4 million for an effective rate of 24.4% for the most recent prior quarter, and $6.8 million for an effective rate of 24.0% for the second quarter of 2025. For the six months ended June 30, 2026, the provision for income tax expense was $17.6 million with an effective tax rate of 24.2% compared to $12.9 million with an effective tax rate of 23.9% for the same period in 2025.
ASSET QUALITY
The allowance for credit losses was 0.89% of total loans and leases at June 30, 2026, down from 0.90% at March 31, 2026, and 0.95% at June 30, 2025. The decrease in the allowance for credit losses coverage ratio compared to June 30, 2025 was mainly due to the improved economic forecasts for unemployment and gross domestic product. The ratio of the allowance to total nonperforming loans and leases was 111.29% at June 30, 2026, compared to 113.06% at March 31, 2026, and 111.55% at June 30, 2025.
Provision for credit losses for the second quarter of 2026 was $1.5 million, in line with the most recent prior quarter, and down from $2.8 million for the second quarter of 2025. Net charge-offs for the three months ended June 30, 2026 were $1.6 million, compared to $775,000 for the first quarter of 2026, and $5.3 million for the second quarter of 2025. The year-over-year decrease was mainly due to a partial charge-off of $4.7 million during the second quarter of 2025 related to one commercial real estate relationship totaling $18.1 million.
Nonperforming assets of $52.9 million represented 0.60% of total assets at June 30, 2026, up from $51.7 million or 0.59% of total assets at March 31, 2026, and $52.6 million or 0.63% of total assets at June 30, 2025. Loans past due 30-89 days totaled $4.7 million at June 30, 2026, $5.9 million at March 31, 2026, and $5.9 million at June 30, 2025.
Special Mention and Substandard loans and leases totaled $140.0 million at June 30, 2026, compared to $120.4 million reported at March 31, 2026, and $96.8 million reported at June 30, 2025. The increase over the most recent prior quarter end was mainly in Special Mention loans, which were up $17.5 million. The increase in Special Mention loans over March 31, 2026 was mainly a result of five performing loans totaling $18.8 million being downgraded during the second quarter of 2026. The Company believes that the existing collateral securing the loans is sufficient to cover the exposure.
CAPITAL POSITION
Capital ratios at June 30, 2026 remained well above the regulatory minimums for well-capitalized institutions. The ratio of total capital to risk-weighted assets was 14.89% at June 30, 2026, compared to 14.78% at March 31, 2026, and 13.15% at June 30, 2025. The ratio of Tier 1 capital to average assets was 10.69% at June 30, 2026, compared to 10.58% at March 31, 2026, and 9.36% at June 30, 2025.
During the second quarter of 2026, the Company repurchased 11,787 shares of common stock at an aggregate cost of $963,433. These shares were purchased under the Company's 2025 Stock Repurchase Plan. The Company repurchased a total of 35,518 shares of common stock at an aggregate cost of $2.8 million during the first six months of 2026.
LIQUIDITY POSITION
The Company's liquidity position at June 30, 2026 was consistent with its position at March 31, 2026. The Company's sources of liquidity include 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 $1.7 billion, or 19.4% of total assets, at June 30, 2026.
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 Bank & Trust, which offers a full array of products and services, including commercial and consumer banking. Tompkins Bank & Trust provides 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", "could", "should", "will", "would", "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 the sufficiency of existing collateral to cover exposure related to special mention loans and future growth. 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 of our Annual Report on Form 10-K for the year ended December 31, 2025 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 public companies, 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; changes in 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 geographic concentration of our business; 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 continuing or increasing hostilities in the Middle East and the war in Ukraine), tariffs and trade wars, widespread protests, civil unrest, political uncertainty, and pandemics or other public health crises; and the related financial stress on borrowers and changes to customer behavior and credit risk as a result of any of the foregoing. The Company does not undertake any obligation to update its forward-looking statements.
| Metric | Q1 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and Equivalents | — | $132.32M | $134.4M | $193.07M | $212.55M | $193.49M | $132.82M | $171.45M | $147.77M |
| Non Current Assets Cash and Due From Banks | — | $110.38M | $53.64M | $81.38M | $93.73M | $77.12M | $50.72M | $68.67M | $71.69M |
| Non Current Assets Interest Bearing Deposits In Banks | — | $21.95M | $80.76M | $111.68M | $118.82M | $116.38M | $82.1M | $102.78M | $76.07M |
| Fin Trading Assets | $99.42M | — | $99.15M | $119.97M | $80.12M | $69.38M | $74.11M | $62.64M | $1.39B |
| Ins Equity Securities | — | $801K | $768K | $783K | $784K | $794K | $800K | $795K | $791K |
| Loans Held for Sale | — | $22.19M | $10.18M | $0 | $35.23M | $27.34M | $26.76M | -$43.39M | $129K |
| Bank Gross Loans | — | $5.88B | $6.02B | $6.07B | $6.17B | $6.29B | $6.45B | $6.48B | $6.6B |
| Bank Allowance for Credit Losses | — | $55.38M | $56.5M | $61.02M | $58.56M | $59.89M | $57.67M | $58.11M | $58.48M |
| Non Current Assets Financing Receivable Excluding Accrue 11d9cc | — | $5.83B | $5.96B | $6.01B | $6.11B | $6.23B | $6.39B | $6.42B | $6.54B |
| Property Plant Equipment Net | — | $77.6M | $76.63M | $75.82M | $74.41M | $73.84M | $72.42M | $71M | $71.24M |
| Goodwill | — | $92.6M | $92.6M | $92.6M | $92.6M | $92.6M | $72.74M | $72.74M | $72.74M |
| Non Current Assets Bank Owned Life Insurance | — | $75.97M | $76.45M | $77.06M | $76.84M | $77.33M | $77.84M | $78.49M | $79.03M |
| Total Assets | — | $8.01B | $8.11B | $8.2B | $8.37B | $8.47B | $8.67B | $8.7B | $8.8B |
| Other Checking Savings and Money Market | — | $3.66B | $3.56B | $3.75B | $3.62B | $3.9B | $3.74B | $3.89B | $3.79B |
| Other Time Deposits | — | $1.04B | $1.07B | $1.18B | $1.23B | $1.24B | $1.3B | $1.29B | $1.31B |
| Bank Time Deposits | — | $1.04B | $1.07B | $1.18B | $1.23B | $1.24B | $1.3B | $1.29B | $1.31B |
| Fin Deposits Noninterest Bearing | — | $1.88B | $1.84B | $1.82B | $1.87B | $1.91B | $1.9B | $1.87B | $1.93B |
| Fin Deposits | — | $6.58B | $6.47B | $6.75B | $6.72B | $7.05B | $6.94B | $7.05B | $7.03B |
| Bank Fed Funds Purchased Repos | — | $67.51M | $37.04M | $122.99M | $127.11M | $80.8M | $95.57M | $118.13M | $181.71M |
| Non Current Liabilities Other Borrowings | — | $539.33M | $790.25M | $493.25M | $672.7M | $444.87M | $564.45M | $449.45M | $546.36M |
| Other Non Current Liabilities | — | $100.35M | $96.55M | $88.54M | $96.42M | $101.19M | $132.11M | $127.27M | $84.41M |
| Total Liabilities | — | $7.29B | $7.4B | $7.46B | $7.61B | $7.68B | $7.73B | $7.75B | $7.84B |
| Equity Common Stock Value | — | $1.44M | $1.45M | $1.45M | $1.45M | $1.45M | $1.45M | $1.44M | $1.44M |
| Equity Additional Paid In Capital Common Stock | — | $299.74M | $300.07M | $299.01M | $300M | $301.18M | $299.21M | $297.18M | $296.83M |
| Additional Paid In Capital | — | $299.74M | $300.07M | $299.01M | $300M | $301.18M | $299.21M | $297.18M | $296.83M |
| Retained Earnings | — | $526.42M | $537.16M | $547.89M | $560.39M | $575.11M | $662.16M | $678.58M | $698.24M |
| Aoci | — | -$101.2M | -$118.49M | -$102.21M | -$95.12M | -$83.77M | -$19.05M | -$26.1M | -$32.06M |
| Treasury Stock | — | $6.55M | $6.74M | $4.76M | $4.93M | $5.17M | $5.38M | $4.36M | -$4.53M |
| Total Stockholders Equity | — | $719.86M | $713.44M | $741.38M | $761.79M | $788.81M | $938.38M | $946.74M | $959.93M |
| Total Liabilities and Equity | — | $8.01B | $8.11B | $8.2B | $8.37B | $8.47B | $8.67B | $8.7B | $8.8B |
| Metric | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Total Interest Income | $89.13M | $90.02M | $89.46M | $93.65M | $98.06M | $100.91M | $102.67M | $105.94M |
| Interest Expense | $35.94M | $33.74M | $32.8M | $33.52M | $34.18M | $31.85M | $30.81M | $31.96M |
| Net Interest Income | $53.19M | $56.28M | $56.66M | $60.13M | $63.88M | $69.06M | $71.86M | $73.98M |
| Provision for Credit Losses | $2.17M | $1.41M | $5.29M | $2.78M | $2.49M | $977K | $1.5M | $1.5M |
| Net Interest Income After Provision | $51.02M | $54.87M | $51.38M | $57.35M | $61.39M | $68.08M | $70.36M | $72.48M |
| Revenue Insurance Commissions and Fees | $11.28M | $8.47M | $11.6M | $9.61M | $11.28M | $3.08M | $0 | $0 |
| Other Wealth Management Fees 7ddd49 | $4.93M | $4.88M | $5.12M | $4.96M | $4.98M | $5.05M | $5.27M | $5.23M |
| Total Noninterest Income | $23.39M | $20.83M | $25.03M | $22.51M | $23.56M | $125.76M | $11.83M | $13.13M |
| Operating Expenses Salaries and Wages | $25.66M | $25.87M | $24.98M | $26.37M | $27.58M | $29.63M | $21.95M | $22.96M |
| Occupancy and Equipment | $3.07M | $2.87M | $3.57M | $3.11M | $3.17M | $3.1M | $3.46M | $3.3M |
| Other Operating Expenses | $12.99M | $11.87M | $13.17M | $12.83M | $15.1M | $12.94M | $13.49M | $12.92M |
| Total Noninterest Expense | $49.88M | $49.97M | $50.61M | $51.62M | $53.85M | $54.14M | $47.73M | $47.07M |
| Income Before Tax | $24.53M | $25.73M | $25.8M | $28.24M | $31.11M | $139.71M | $34.47M | $38.55M |
| Income Tax Expense | $5.86M | $6.05M | $6.12M | $6.77M | $7.43M | $43.46M | $8.39M | $9.25M |
| Net Income | $18.64M | $19.66M | $19.68M | $21.47M | $23.67M | $96.25M | $26.07M | $29.3M |
| Eps Basic | $1.31 | $1.38 | $1.38 | $1.51 | $1.66 | $6.75 | $1.83 | $2.06 |
| Eps Diluted | $1.30 | $1.38 | $1.37 | $1.50 | $1.65 | $6.72 | $1.82 | $2.04 |
| (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 |
|---|---|---|---|---|---|---|---|---|---|
| Average Consolidated Statements of Condition and Net Interest Analysis (Unaudited) | |||||||||
| Quarter Ended | Quarter Ended | Quarter Ended | |||||||
| June 30, 2026 | March 31, 2026 | June 30, 2025 | |||||||
| ASSETS | |||||||||
| Interest-earning assets | |||||||||
| Interest-bearing balances due from banks | $17,416 | $192 | 4.42% | $13,394 | $166 | 5.03% | $15,820 | $187 | 4.74% |
| Securities¹ | |||||||||
| U.S. Government securities | 1,650,865 | 14,640 | 3.56% | 1,636,770 | 14,435 | 3.58% | 1,610,090 | 10,026 | 2.50% |
| State and municipal² | 79,748 | 526 | 2.65% | 81,218 | 536 | 2.68% | 85,080 | 554 | 2.61% |
| Other Securities² | 3,293 | 50 | 6.09% | 3,305 | 49 | 6.01% | 3,279 | 53 | 6.48% |
| Total securities | 1,733,906 | 15,216 | 3.52% | 1,721,293 | 15,020 | 3.54% | 1,698,449 | 10,633 | 2.51% |
| FHLBNY and FRB stock | 32,128 | 543 | 6.78% | 29,016 | 460 | 6.43% | 31,660 | 635 | 8.05% |
| Total loans and leases, net of unearned income2,3 | 6,525,286 | 90,243 | 5.55% | 6,434,853 | 87,337 | 5.50% | 6,129,561 | 82,499 | 5.40% |
| Total interest-earning assets | 8,308,736 | 106,194 | 5.13% | 8,198,556 | 102,983 | 5.09% | 7,875,490 | 93,954 | 4.79% |
| Other assets | 352,338 | 382,767 | 293,105 | ||||||
| Total assets | $8,661,074 | $8,581,323 | $8,168,595 | ||||||
| LIABILITIES & EQUITY | |||||||||
| Deposits | |||||||||
| Interest-bearing deposits | |||||||||
| Interest bearing checking, savings, & money market | $3,855,494 | $16,359 | 1.70% | $3,823,812 | $15,589 | 1.65% | $3,680,761 | $16,504 | 1.80% |
| Time deposits | 1,280,086 | 10,171 | 3.19% | 1,285,701 | 10,420 | 3.29% | 1,230,182 | 10,975 | 3.58% |
| Total interest-bearing deposits | 5,135,580 | 26,530 | 2.07% | 5,109,513 | 26,009 | 2.06% | 4,910,943 | 27,479 | 2.24% |
| Federal funds purchased & securities sold under agreements to repurchase | 40,636 | 59 | 0.58% | 42,788 | 18 | 0.17% | 42,123 | 61 | 0.58% |
| Other borrowings | 550,041 | 5,369 | 3.92% | 491,310 | 4,781 | 3.95% | 550,558 | 5,976 | 4.35% |
| Total interest-bearing liabilities | 5,726,257 | 31,958 | 2.24% | 5,643,611 | 30,808 | 2.21% | 5,503,624 | 33,516 | 2.44% |
| Noninterest bearing deposits | 1,891,560 | 1,855,440 | 1,818,922 | ||||||
| Accrued expenses and other liabilities | 89,540 | 130,879 | 96,074 | ||||||
| Total liabilities | 7,707,357 | 7,629,930 | 7,418,620 | ||||||
| Total equity | 953,717 | 951,393 | 749,975 | ||||||
| Total liabilities and equity | $8,661,074 | $8,581,323 | $8,168,595 | ||||||
| Interest rate spread | 2.89% | 2.88% | 2.34% | ||||||
| Tax-equivalent net interest income/margin on earning assets | 74,236 | 3.58% | 72,175 | 3.57% | 60,438 | 3.08% | |||
| Tax-equivalent adjustment | (253) | (314) | (308) | ||||||
| Net interest income | $73,983 | $71,861 | $60,130 |
| (dollar amounts in thousands) | Average Balance (YTD) | Interest | Average Yield/Rate | Average Balance (YTD) | Interest | Average Yield/Rate |
|---|---|---|---|---|---|---|
| Average Consolidated Statements of Condition and Net Interest Analysis (Unaudited) | ||||||
| Year to Date Period Ended | Year to Date Period Ended | |||||
| June 30, 2026 | June 30, 2025 | |||||
| ASSETS | ||||||
| Interest-earning assets | ||||||
| Interest-bearing balances due from banks | $15,416 | $359 | 4.70% | $16,121 | $362 | 4.53% |
| Securities¹ | ||||||
| U.S. Government securities | 1,643,856 | 29,075 | 3.57% | 1,604,469 | 19,467 | 2.45% |
| State and municipal² | 80,479 | 1,062 | 2.66% | 85,484 | 1,108 | 2.61% |
| Other securities | 3,299 | 99 | 6.05% | 3,277 | 106 | 6.52% |
| Total securities | 1,727,634 | 30,236 | 3.53% | 1,693,230 | 20,681 | 2.46% |
| FHLBNY and FRB stock | 30,581 | 1,003 | 6.61% | 31,821 | 1,346 | 8.53% |
| Total loans and leases, net of unearned income2,3 | 6,480,319 | 177,581 | 5.53% | 6,077,749 | 161,335 | 5.35% |
| Total interest-earning assets | 8,253,950 | 209,179 | 5.11% | 7,818,921 | 183,724 | 4.74% |
| Other assets | 367,469 | 293,975 | ||||
| Total assets | $8,621,419 | $8,112,896 | ||||
| LIABILITIES & EQUITY | ||||||
| Deposits | ||||||
| Interest-bearing deposits | ||||||
| Interest bearing checking, savings, & money market | $3,839,741 | $31,947 | 1.68% | $3,681,535 | $32,597 | 1.79% |
| Time deposits | 1,282,878 | 20,593 | 3.24% | 1,194,807 | 21,532 | 3.63% |
| Total interest-bearing deposits | 5,122,619 | 52,540 | 2.07% | 4,876,342 | 54,129 | 2.24% |
| Federal funds purchased & securities sold under agreements to repurchase | 41,706 | 77 | 0.37% | 44,873 | 102 | 0.46% |
| Other borrowings | 520,838 | 10,149 | 3.93% | 556,239 | 12,085 | 4.38% |
| Total interest-bearing liabilities | 5,685,163 | 62,766 | 2.23% | 5,477,454 | 66,316 | 2.44% |
| Noninterest bearing deposits | 1,873,599 | 1,799,169 | ||||
| Accrued expenses and other liabilities | 110,095 | 97,170 | ||||
| Total liabilities | 7,668,857 | 7,373,793 | ||||
| Total equity | 952,562 | 739,103 | ||||
| Total liabilities and equity | $8,621,419 | $8,112,896 | ||||
| Interest rate spread | 2.88% | 2.30% | ||||
| Net interest income (TE)/margin on earning assets | 146,413 | 3.58% | 117,408 | 3.03% | ||
| Tax Equivalent Adjustment | (569) | (616) | ||||
| Net interest income | $145,844 | $116,792 |
Tompkins Financial Corporation - Summary Financial Data (Unaudited)
| Period End Balance Sheet | Jun-26 | Mar-26 | Dec-25 | Sep-25 | Jun-25 | Dec-25 |
|---|---|---|---|---|---|---|
| (In thousands, except per share data) | ||||||
| Quarter-Ended | Year-Ended | |||||
| Securities | $1,706,414 | $1,702,250 | $1,695,396 | $1,604,357 | $1,588,647 | $1,695,396 |
| Total Loans | 6,597,178 | 6,477,943 | 6,446,245 | 6,288,071 | 6,172,654 | 6,446,245 |
| Allowance for credit losses | 58,479 | 58,108 | 57,671 | 59,889 | 58,555 | 57,671 |
| Total assets | 8,801,522 | 8,695,761 | 8,668,268 | 8,468,731 | 8,373,818 | 8,668,268 |
| Total deposits | 7,029,111 | 7,054,172 | 6,937,762 | 7,053,070 | 6,715,795 | 6,937,762 |
| Brokered deposits | 169,014 | 109,712 | 114,391 | 145,223 | 138,787 | 114,391 |
| Federal funds purchased and securities sold under agreements to repurchase | 181,710 | 118,133 | 95,569 | 80,804 | 127,111 | 95,569 |
| Other borrowings | 546,358 | 449,446 | 564,446 | 444,866 | 672,696 | 564,446 |
| Total equity | 959,932 | 946,741 | 938,377 | 788,805 | 761,793 | 938,377 |
| Average Balance Sheet | ||||||
|---|---|---|---|---|---|---|
| Average earning assets | $8,308,736 | $8,198,556 | $8,058,427 | $7,967,674 | $7,875,490 | $7,916,783 |
| Average assets | 8,661,074 | 8,581,323 | 8,372,287 | 8,297,448 | 8,168,595 | 8,224,794 |
| Average interest-bearing liabilities | 5,726,257 | 5,643,611 | 5,484,440 | 5,530,563 | 5,503,624 | 5,492,601 |
| Average equity | 953,717 | 951,393 | 875,658 | 771,527 | 749,975 | 781,695 |
| Share data | ||||||
|---|---|---|---|---|---|---|
| Weighted average shares outstanding (basic) | 14,224,972 | 14,250,969 | 14,270,206 | 14,248,533 | 14,246,395 | 14,252,810 |
| Weighted average shares outstanding (diluted) | 14,333,390 | 14,347,514 | 14,356,680 | 14,345,219 | 14,320,125 | 14,335,358 |
| Period-end shares outstanding | 14,382,196 | 14,392,337 | 14,420,495 | 14,431,300 | 14,430,985 | 14,420,495 |
| Common equity book value per share | $66.74 | $65.78 | $65.07 | $54.66 | $52.79 | $65.07 |
| Tangible book value per share (Non-GAAP)** | $61.68 | $60.73 | $60.03 | $48.19 | $46.31 | $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 | $73,983 | $71,861 | $69,061 | $63,878 | $60,130 | $249,731 |
| Provision for credit loss expense | 1,502 | 1,502 | 977 | 2,490 | 2,780 | 11,534 |
| Noninterest income | 13,134 | 11,834 | 125,763 | 23,564 | 22,512 | 196,871 |
| Noninterest expense | 47,066 | 47,726 | 54,135 | 53,847 | 51,623 | 210,212 |
| Income tax expense | 9,245 | 8,393 | 43,464 | 7,432 | 6,768 | 63,785 |
| Net income attributable to Tompkins Financial Corporation | 29,304 | 26,074 | 96,248 | 23,673 | 21,471 | 161,071 |
| Basic earnings per share⁴ | 2.06 | 1.83 | 6.74 | 1.66 | 1.51 | 11.30 |
| Diluted earnings per share⁴ | 2.04 | 1.82 | 6.70 | 1.65 | 1.50 | 11.24 |
| Nonperforming Assets | ||||||
|---|---|---|---|---|---|---|
| Nonaccrual loans and leases | $52,426 | $51,271 | $47,794 | $52,805 | $52,325 | $47,794 |
| Loans and leases 90 days past due and accruing | 122 | 124 | 146 | 166 | 166 | 146 |
| Total nonperforming loans and leases | 52,548 | 51,395 | 47,940 | 52,971 | 52,491 | 47,940 |
| OREO | 384 | 269 | 229 | 0 | 81 | 229 |
| Total nonperforming assets | $52,932 | $51,664 | $48,169 | $52,971 | $52,572 | $48,169 |
Tompkins Financial Corporation - Summary Financial Data (Unaudited) - continued
| Delinquency - Total loan and lease portfolio | Jun-26 | Mar-26 | Dec-25 | Sep-25 | Jun-25 | Dec-25 |
|---|---|---|---|---|---|---|
| Quarter-Ended | Year-Ended | |||||
| Loans and leases 30-89 days past due and | ||||||
| accruing | $4,666 | $5,874 | $8,806 | $7,841 | $5,857 | $8,806 |
| Loans and leases 90 days past due and accruing | 122 | 124 | 146 | 166 | 166 | 146 |
| Total loans and leases past due and accruing | 4,788 | 5,998 | 8,952 | 8,007 | 6,023 | 8,952 |
| Allowance for Credit Losses | ||||||
|---|---|---|---|---|---|---|
| Balance at beginning of period | $58,108 | $57,671 | $59,889 | $58,555 | $61,023 | $56,496 |
| Provision for credit losses | 1,962 | 1,212 | 1,064 | 2,454 | 2,786 | $11,564 |
| Net loan and lease charge-offs (recoveries) | 1,591 | 775 | 3,282 | 1,120 | 5,254 | $10,389 |
| Allowance for credit losses at end of period | $58,479 | $58,108 | $57,671 | $59,889 | $58,555 | $57,671 |
| Allowance for Credit Losses - Off-Balance Sheet Exposure | ||||||
| Balance at beginning of period | $1,723 | $1,433 | $1,520 | $1,484 | $1,490 | $1,463 |
| Provision (credit) for credit losses | (460) | 290 | (87) | 36 | (6) | $(30) |
| Allowance for credit losses at end of period | $1,263 | $1,723 | $1,433 | $1,520 | $1,484 | $1,433 |
| Loan Classification - Total Portfolio | ||||||
|---|---|---|---|---|---|---|
| Special Mention | $83,631 | $66,104 | $100,717 | $88,398 | $40,048 | $100,717 |
| Substandard | 56,380 | 54,331 | 33,764 | 55,762 | 56,740 | 33,764 |
Ratio Analysis
| Credit Quality | ||||||
|---|---|---|---|---|---|---|
| Nonperforming loans and leases/total loans and leases | 0.80% | 0.79% | 0.74% | 0.84% | 0.85% | 0.74% |
| Nonperforming assets/total assets | 0.60% | 0.59% | 0.56% | 0.63% | 0.63% | 0.56% |
| Allowance for credit losses/total loans and leases | 0.89% | 0.90% | 0.89% | 0.95% | 0.95% | 0.89% |
| Allowance/nonperforming loans and leases | 111.29% | 113.06% | 120.30% | 113.06% | 111.55% | 120.30% |
| Net loan and lease losses (recoveries) annualized/total average loans and leases | 0.10% | 0.05% | 0.21% | 0.07% | 0.34% | 0.17% |
| Capital Adequacy | ||||||
|---|---|---|---|---|---|---|
| Tier 1 Capital (to average assets) | 10.69% | 10.58% | 10.62% | 9.41% | 9.36% | 10.62% |
| Total Capital (to risk-weighted assets) | 14.89% | 14.78% | 14.56% | 13.27% | 13.15% | 14.56% |
| Profitability (period-end) | ||||||
|---|---|---|---|---|---|---|
| Return on average assets * | 1.36% | 1.23% | 4.56% | 1.13% | 1.05% | 1.96% |
| Return on average equity * | 12.32% | 11.11% | 43.61% | 12.17% | 11.48% | 20.61% |
| Net interest margin (TE) * | 3.58% | 3.57% | 3.42% | 3.20% | 3.08% | 3.17% |
| Average yield on interest-earning assets* | 5.13% | 5.09% | 4.98% | 4.90% | 4.79% | 4.84% |
| Average cost of deposits* | 1.51% | 1.51% | 1.58% | 1.64% | 1.64% | 1.62% |
| Average cost of funds* | 1.68% | 1.67% | 1.71% | 1.83% | 1.84% | 1.80% |
| * 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-Ended | Year-Ended | |||||
| Jun-26 | Mar-26 | Dec-25 | Sep-25 | Jun-25 | Dec-25 | |
| Common equity book value per share (GAAP) | $66.74 | $65.78 | $65.07 | $54.66 | $52.79 | $65.07 |
| Total common equity | $959,932 | $946,741 | $938,377 | $788,805 | $761,793 | $938,377 |
| Less: Goodwill and intangibles* | 72,766 | 72,766 | 72,766 | 93,405 | 93,503 | 72,766 |
| Tangible common equity (Non-GAAP) | 887,166 | 873,975 | 865,611 | 695,400 | 668,290 | 865,611 |
| Ending shares outstanding | 14,382,196 | 14,392,337 | 14,420,495 | 14,431,300 | 14,430,985 | 14,420,495 |
| Tangible book value per share (Non-GAAP) | $61.68 | $60.73 | $60.03 | $48.19 | $46.31 | $60.03 |
| *The decline in goodwill for the fourth quarter of 2025 over the prior periods shown in the table reflects the sale of TIA. |
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 2026 and 2025 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, 2025.
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.
