Tompkins Financial Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter End Full Year Ended December 31, 2017
January 26, 2018 at 09:00 am
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Tompkins Financial Corporation announced unaudited consolidated earnings results for the fourth quarter end full year ended December 31, 2017. For the quarter, the company reported total interest and dividend income of $59,029,000 against $51,936,000 a year ago. Net interest income was $51,969,000 against $46,374,000 a year ago. Income before income tax expense was $20,981,000 against $21,595,000 a year ago. Net income attributable to the company was $2,457,000 against $15,118,000 a year ago. Diluted earnings per share were $0.16 against $0.99 a year ago. Tangible book value per share (Non-GAAP) was $31.04 against $29.38 a year ago. Return on average assets was 0.15% against 0.99% a year ago. Return on average equity was 1.64% against 10.76% a year ago. Adjusted net income available to common shareholders was $2,431,000 compared to $14,883,000 a year ago. Adjusted diluted earnings per share (Non-GAAP) were $1.15 compared to $0.99 a year ago.
For the full year, the company reported total interest and dividend income of $226,764,000 against $202,739,000 a year ago. Net interest income was $201,304,000 against $180,636,000 a year ago. Income before income tax expense was $95,242,000 against $86,516,000 a year ago. Net income attributable to the company was $52,494,000 against $59,340,000 a year ago. Diluted earnings per share were $3.43 against $3.91 a year ago. Return on average assets was 0.82%. Return on average equity was 9.09%. Adjusted net income available to common shareholders was $51,676,000 compared to $58,428,000 a year ago. Adjusted diluted earnings per share (Non-GAAP) were $4.42 compared to $3.91 a year ago.
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. The Company's segments include banking, insurance and wealth management. The banking segment provides services consisting primarily of deposits from the areas served by the Company's banking subsidiary and using those deposits to originate a variety of commercial loans, agricultural loans, consumer loans, real estate loans, and leases in those same areas. The insurance segment provides services, such as property and casualty insurance, employee benefit consulting, life, long-term care and disability insurance. The wealth management segment provides services, including investment management, trust and estate, financial and tax planning as well as life, disability and long-term care insurance services. Its wealth management services are provided under the trade name Tompkins Financial Advisors.