Tompkins Financial Corporation reported significant financial growth for the fiscal year ending December 31, 2025, with net income reaching $161.1 million, a 127.3% increase from $70.9 million in 2024. This surge in profitability was largely attributed to the sale of its insurance subsidiary, Tompkins Insurance Agencies, Inc., to Arthur J. Gallagher Risk Management Services for approximately $223 million, resulting in a pre-tax gain of $188.2 million. However, the company also faced a pre-tax loss of $78.7 million from the sale of available-for-sale debt securities, which management anticipates will positively impact future securities revenue due to reinvestment into higher-yielding securities.

The company's total assets increased to $8.7 billion, up 6.9% from the previous year, driven by a 7.1% rise in total loans to $6.4 billion and a 9.8% increase in total securities to $1.7 billion. Total deposits also grew by 7.2% to $6.9 billion, with notable increases in time deposits and checking, savings, and money market accounts. The company’s return on average equity (ROE) improved to 20.61% from 10.33% in 2024, while return on average assets (ROA) rose to 1.96% from 0.90%.

Operationally, Tompkins Financial has streamlined its business segments following the divestiture of its insurance operations, now focusing on banking and wealth management. The banking segment reported net income of $149.5 million, significantly up from $59.2 million in 2024, while the wealth management segment saw a slight decrease in net income to $3.5 million. The company continues to emphasize organic growth and potential acquisitions to enhance its market presence.

As of December 31, 2025, Tompkins Financial employed 870 individuals, a slight decrease from the previous year, and reported a strong commitment to employee development and retention strategies, including profit-sharing plans and flexible work arrangements. The company remains focused on maintaining a robust capital position, with all capital ratios exceeding regulatory requirements, and is well-positioned to navigate future market conditions and potential economic challenges.

About TOMPKINS FINANCIAL CORP

Tompkins Financial Corporation is a community-based financial services company offering banking, insurance, and wealth management. Its primary activities include retail banking, commercial lending, trust and investment management, and insurance services across New York and Pennsylvania. The company emphasizes responsible growth, personalized customer service, digital innovation, and community involvement, operating through its subsidiary, Tompkins Community Bank, with a focus on long-term value creation.

This description was generated via AI from an annual report. Updated 8 months ago.

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