Tompkins Financial Corporation Reports Increased Net Income of $23.7 Million for Q3 2025

Tompkins Financial Corporation reported a significant increase in its financial performance for the third quarter of 2025, with net income reaching $23.7 million, or $1.65 per diluted share, compared to $18.6 million, or $1.30 per diluted share, in the same period of 2024. For the nine months ending September 30, 2025, net income was $64.8 million, translating to $4.52 per diluted share, up from $51.2 million, or $3.59 per diluted share, in the prior year. The growth in net income is attributed to an increase in net interest income, which rose by 20.1% to $63.9 million for the quarter and by 16.7% to $180.7 million for the nine-month period, driven by higher average loan balances and improved funding costs.

The company’s total assets increased to $8.5 billion as of September 30, 2025, reflecting a $359.7 million, or 4.4%, rise from December 31, 2024. Total loans and leases also grew by $268.1 million, or 4.5%, primarily in the commercial real estate and commercial and industrial loan portfolios. Total deposits increased by $581.3 million, or 9.0%, to $7.1 billion, with notable growth in checking, money market, and savings accounts. The allowance for credit losses stood at $59.9 million, representing 0.95% of total loans and leases, compared to 0.94% at the end of 2024.

In terms of operational developments, Tompkins Financial continues to focus on strategic growth through its three business segments: banking, insurance, and wealth management. The banking segment reported a net income of $20.2 million for the third quarter, a 36.3% increase from the previous year, while the insurance segment's net income was $2.9 million, down 6.9% year-over-year. The wealth management segment reported a net income of $626,000, a decrease of 17.1% compared to the same quarter in 2024. The company’s total equity increased to $788.8 million, a 10.6% rise from the end of 2024, driven by net income generation and an increase in accumulated other comprehensive income.

Looking ahead, Tompkins Financial remains committed to responsible and sustainable growth, with plans to continue expanding its market presence through potential acquisitions and organic growth. The company is also focused on maintaining its strong capital position and liquidity, with total capital ratios exceeding regulatory requirements. Management believes that the current economic environment, including interest rate fluctuations and market conditions, will continue to influence its financial performance, but remains optimistic about the company’s ability to navigate these challenges effectively.