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Tompkins Community Bank

July 24, 2020 - 2:14pm

Press release:

ITHACA -- Tompkins Financial Corporation (NYSE American: TMP), parent company of Tompkins Bank of Castile, Tompkins Insurance Agencies, and Tompkins Financial Advisors, today reported record year-to-date and second quarter earnings.

The company also has announced that its Board of Directors approved payment of a regular quarterly cash dividend of $0.52 per share, payable on Aug. 14, to common shareholders of record on Aug. 3, 2020, and has authorized a new stock repurchase program.

Tompkins Financial Corporation reported diluted earnings per share of $1.44 for the second quarter of 2020, up 13.4 percent compared to $1.27 reported in the second quarter of 2019. Net income for the second quarter of 2020 was $21.4 million, compared to $19.4 million reported for the same period in 2019. 

For the year-to-date period ended June 30, 2020, diluted earnings per share were $1.97, down 25.1 percent from the same period in 2019. Year-to-date net income was $29.4 million, down from $40.4 million, for the same period in 2019. Results for the 2020 year-to-date period were negatively impacted by economic stress resulting from the COVID-19 pandemic, which contributed to the $16.3 million provision for credit losses recognized during the first quarter of 2020.

"We are pleased to report strong financial results for the quarter despite a very challenging business climate," said Stephen S. Romaine, president & CEO. "Although the longer term impact of the pandemic and related economic conditions are still unknown, there have been several recent positive trends noted with certain national economic indicators, such as reduced levels of unemployment, improving retail sales and improving consumer confidence.

"At Tompkins, we have seen several positive trends as well, with very strong mortgage application volumes in the second quarter, higher levels of debit card spending, and favorable credit quality measures when compared to last quarter. We are encouraged by some of these recent favorable trends, though the recent rise in COVID-19 cases nationally makes it clear that much uncertainty remains. We will remain vigilant in monitoring risk trends as we navigate these challenging times.”  

For full details, you can access the online versions through the links below.

About Tompkins Financial Corporation

Tompkins Financial Corporation is a financial services company serving the Central, Western, and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. Tompkins Financial operates in Western New York as Tompkins Bank of Castile, Tompkins Insurance Agencies, and Tompkins Financial Advisors. Further information is available at www.tompkinsfinancial.com

Tompkins Bank of Castile is a community bank with 16 offices in the five-county Western New York region. Services include complete lines of consumer deposit accounts and loans, business accounts and loans, and leasing. Further information about the bank is available on its website, www.bankofcastile.com.

Tompkins Insurance Agencies Inc., offers personalized service, local decision-making and a broad range of services for consumers and businesses. It is an independent insurance agency offering personal and business insurance and employee benefits services through more than 50 different companies. The firm operates six offices in Central New York, 16 offices in Western New York and seven offices in Southeast Pennsylvania. Further information is available at www.tompkinsins.com

Tompkins Financial Advisors is the wealth management firm of Tompkins Financial Corporation. With more than a century of experience in helping clients to build, protect, and preserve wealth, Tompkins Financial Advisors provides financial planning, investment management, trust services and estate administration. For more information, visit www.tompkinsfinancialadvisors.com.

July 17, 2020 - 3:16pm

Submitted photo and press release:

In an effort to brighten the day for local frontline workers during the COVID-19 pandemic, Tompkins Bank of Castile, Tompkins Insurance Agencies and Tompkins Financial Advisors donated 3,400 Oliver’s Candy Bars to the Rochester Regional Health Staff.

The sweet treat will be handed out to all employees as a way to say "Thank You!"

Pictured from left are: Steve Beardsley, senior vice president, Commercial Banking regional manager, presents Jim Creighton and Gina Burden-Rambert of Rochester Regional Health with 3,400 candy bars to distribute to their staff.

June 30, 2020 - 12:05pm
posted by Howard B. Owens in Tompkins Community Bank, Business, COVID-19.

Press release:

More than 700 companies throughout Western New York were able to access approximately $120 million under the Small Business Administration’s Paycheck Protection Program facilitated by Tompkins Bank of Castile.

 “Keeping with our longstanding commitment to the community, we were happy to do our part to support local businesses, especially during this time of need,” said President and CEO, John McKenna. “We’re thankful that our efforts were able to protect more than 7,000 local jobs.”

Essential bank staff aimed to get ahead of the rush by working extended hours — mostly remotely — to reassure customers, explain the PPP program, and process the loans as quickly as possible.

Local businesses are using the loans to keep employees on their payrolls, as well as cover other operating costs including interest, rent, and utility costs. The customers were very appreciative of the support.

“We’re grateful for Tompkins for keeping us updated on this process and supporting us along the way,” said one small business owner. “I really appreciate the information they have been able to provide, and I feel very confident with Tompkins at the helm.”

The COVID-19 pandemic required Tompkins to restrict its services to drive-up, ATM, phone, mobile, and internet banking. During this time, the staff worked diligently to educate customers about its electronic services.

“As an essential business, we’ve been fortunate to stay open and accessible to our customers when they need us most,” McKenna said. “We believe in the power of our local people working together to help our communities grow and thrive; That’s why we’ll continue to do everything possible to support our friends and neighbors as we work together to recover.”

April 1, 2020 - 3:36pm

Press release:

In an effort to assist its employees with unexpected financial burdens faced during the current COVID-19 crisis, Tompkins Financial is offering a discount loan program to non-executive Tomkins employees who have encountered increased expenses or decreased income. These include spouse or domestic partner’s job loss, and unexpected costs for elder care or child care.

In addition, Tompkins has instituted a premium of up to 25 percent additional pay for employees whose essential work requires them to be on-site.

“Banks have been deemed to provide an essential service to our customers and communities and this is a way we can show our appreciation to our employees,” said John McKenna, president and CEO. “We understand that while we as a company are fortunate enough to maintain our workforce during this time, our team members may have spouses or partners who experience job loss.

"We also appreciate that they may experience unexpected costs related to the pandemic. We want our team members to know that Tompkins is standing by them in the same way they are standing by our customers.”

The premium pay model will apply to both exempt and non-exempt non-executive employees whose work requires them to report to a Tompkins location to perform essential job duties.

About Tompkins Bank of Castile

Tompkins Bank of Castile is a community bank with 15 offices in the six-county Western New York region. Services include complete lines of consumer deposit accounts and loans, business accounts and loans, and leasing. In addition, insurance is offered through an affiliate company, Tompkins Insurance Agencies, Wealth management, trust and investment services are provided through Tompkins Financial Advisors. Further information about the bank is available on its website, www.bankofcastile.com.

March 20, 2020 - 1:24pm
posted by Howard B. Owens in live stream, video, news, Tompkins Community Bank, COVID-19.
Video Sponsor

We're going to talk with John McKenna, CEO, and president of Tompkins Bank of Castile about programs available to assist small businesses and homeowners.

March 19, 2020 - 12:36pm

Press release:

In an effort to assist current customers with unexpected financial burdens faced during the current coronavirus crisis, Tompkins Bank of Castile has implemented a temporary loan assistance program for our customers.

Our new Loan Assistance Program offers two-month loan payment deferment for various loan types, including consumer and commercial loans and mortgages.

“Our commitment to our customers and community continues to be the driving force for all we do,” said John McKenna, president and CEO. “As a community bank, it is our duty to assist our customers when facing unexpected hardship. We’re grateful to be able to support our customers in any way we can.”

Customers who would like to participate in the program will need to contact their banker via phone or email immediately, or reach out to Tompkins Customer Care Center at 1-877-243-8030 to review options that may be available to them. Please visit our website for more information.

March 19, 2020 - 12:30pm
posted by Billie Owens in Business, Tompkins Community Bank, COVID-19.

Press release:

In support of NY State’s efforts to slow the spread of the coronavirus, Tompkins Bank of Castile is transitioning to serving customers by drive-up or appointment only as of today, March 19. To make an appointment, customers may call their preferred branch or the Tompkins Bank of Castile Care Center at 1-877-243-8030.

Mobile and Online banking remain available 24/7 for many banking needs, including depositing checks, paying bills, and more. Other service options include:   

  • Full service 24 hour ATMs
  • Night drop depositories (available at most branches) 

Customers should be aware that the Gainesville Branch will be closing, and the Amherst branch will be by appointment only. Customers who normally bank at the Gainesville Branch are encouraged to schedule appointments at the Warsaw and Castile offices. 

“We are committed to implementing every measure possible to take great care of our employees and our customers, while providing uninterrupted access to your funds,” said John McKenna, president and CEO of Tompkins Bank of Castile.

“We understand the challenges that we all will be facing in the coming weeks, but we want to assure all of our customers that your Tompkins family is here for you. Through the power of our community, our employees, and our customers – we can get through this together.”

The company continues to monitor the coronavirus situation closely, and is following the guidance of relevant authorities, including the Centers for Disease Control and Prevention, the World Health Organization and various state and local government entities. As such, all functions that can be accomplished outside of a physical branch or office location have been moved to a remote environment.

For the most current information on the actions Tompkins Bank of Castile is taking, please visit their website.

Tompkins Insurance Agencies customers are encouraged to call TIA’s Customer Care Center at 1-888-261-2688. 

Tompkins Financial Advisors clients are encouraged to contact their advisor directly, or call 1-800-275-4003.

March 7, 2020 - 10:05am
posted by Howard B. Owens in Tompkins Community Bank, Business, batavia, news, video, Chamber Awards.
Video Sponsor

Tompkins Bank of Castile is Genesee County's Business of the Year. Tompkins will receive the award tonight during an awards dinner at Quality Inn & Suites in Batavia.

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